US and the Bahamas Insurance?!

[Captain Bill]

Originally Posted by Bobby Lex

Of course, even with the same insurance company, everybody's coverage can be different.

As suggested, I did a deeper dive into my policy language. I discovered that last year's coverage of 175 miles offshore has indeed been shortened this year to 125 miles. I still have "Bahamas" coverage that is about 80% (not 100%, but close enough for my purposes). My agent informed me that I can get a 100% Bahamas coverage endorsement for another $125.00 per year.

Incidentally, my premium this year is a little over $100.00 cheaper than it was last year.

Bob

I was referring to 125 mile rider which includes parts of the Bahamas in my original message. I looked into adding this rider to my insurance last year.



The text below is from the text of the rider.


Policy Number: <Policy Number>
<Named Insd Full Name>
< * Second Named Insd Full Name>
Page <1X> of <2X>
Coastal Navigation Endorsement
Ifyoupay the premium for coastal navigation of 125nautical miles, for anycoveredwatercraft,yourBoat and
Personal Watercraft Policy is amended as follows:
The Policy Period and Territory provision under the General Provisions is deleted and replaced by the following:
Policy Period and Territory
1.This policy applies only to accidents and losses occurring during the policy period shown on thedeclarations
pageand which occur within:
a.a state, territory, or possession of the United States of America, or a province of Canada, including their in-
land lakes, rivers, and navigable waterways;
b.the Great Lakes;
c.ocean waters 125 nautical miles or less from the coast of either the United States or Canada, but not
including the territory or territorial waters of any country other than the United States or Canada, except as
provided in the following subsection (d); or
d.territory or territorial waters of the Commonwealth of Bahamas that extend no further north than 27 degrees
30 minutes north latitude (27º 30ØN); no further east than 75 degrees 30 minutes west longitude (75º
30ØW); and no further south than 24 degrees north latitude (24º N) .
Thecovered watercraftshall have a hull length of at least 26 feet and two primary engines, unless the
coveredwatercraftis a sailboat, in which case it shall have at least one inboard engine. If thecovered
watercraftdoes not meet these specifications, the coverage afforded by this endorsement shall be void from
inception.
Thecovered watercraftshall not remain in ocean waters greater than 75 nautical miles from the coast of the
United States or Canada for more than t 30 consecutive days at a time. If thecovered watercraftremains in
ocean waters greater than 75nautical miles from the coast of the United States or Canada for more than 30days,
the coverage afforded by this endorsement shall not apply beyond the 30 days and shall not be available until the
covered watercraftreturns to within 75nautical miles from the coast of the United States or Canada.
2The following is added to the Cancellation provision under the General Provisions:
The premium for coastal navigation of 125 nautical miles is fully earned upon payment and no refund will be
provided ifyourpolicy or this coastal navigation endorsement is canceled.
All other terms, limits and provisions of this policy remain unchanged


It seems pretty clear to me that one must return to within 75 miles of the coast which in the Bahamas pretty much means you have to get to Bimini or the West End area, though I guess that also would include Freeport. Since it only covers down to 24n it pretty much rules out anything south of Blackpoint in the Exumas. I just don't see cruising the Bahamas and having to get back to the 75 mile line every 30 days is practical cruising insurance. It might be ok for a short jaunt for a weekend or even a couple of weeks in a fast power boat, but not very practical for a sailboat, especially if the weather doesn't cooperate.

[Evergreen]

Another vote for International Waters Insurance Services. Over the years Susan has done an excellent job for us. Of note: Best to contact her by email as she is extremely busy. Susan Waters

INTERNATIONAL WATERS INS. SERVICES

411 Walnut Street #14847, Green Cove Springs, FL 32043

Website: www.MarineInsurance.cc | e-mail: Susan@MarineInsurance.cc

[RedneckRedcoat]

We are currently with BoatUS/Geico and are swapping to Statefarm.

Geico is strange in that it’s down to who you talk to and what your experience you have.

We have just gone though this process , for us geico Bahamas waver is an editional fee but you can only go to the Bahamas for 120 days. , they do have a Caribbean waver but again you are limited to 120 days plus you can only go between Dec 1st and May 31st

Statefarm was cheaper for us but the area you can go to is a little more limited (north part of abacos - southern part of Turk and cacos is off limits)

You can go for however long you want and when you want.
We also found the coverage a bit better. Statefarm give us $1m liability insurance from the get go, it’s an editional fee with geico. A lot of marinas and yards now insist of 1million liability insurance as standard

[MVDarlin]

Need more info. Boats over 20 yrs old are hard to insure. You will also need a recent survey. In some cases named storm deductibles, cruising limits and limited hulll value make full coverage unaffordable.

[WE9V]

I recently purchased my boat (5 months ago) and therefore have recent insurance shopping experience. Boat in Florida USA. Not only was State Farm the least expensive, they also included "most" of the Bahamas. My agent claimed "all of Bahamas and Turks and Caicos", but that was incorrect. Their standard policy states US, Canada, or within 100nm of either, and:

on trips to and from the Islands of the Bahamas
within an area bounded by the area:
(1) north of 23 degrees north latitude;
(2) south of 27 degrees north latitude;
(3) west of 75 degrees west longitude; and
(4) east of 80 degrees west longitude.

That's not a rider. The Southeast corner of that box is Long Island, so that's about 350nm of the Bahamas.
Another bonus is fairly low deductibles and no doubling, tripling or quadrupling the deductible for named storms.

[Jweyndling]

Contact Curtis McKeon at cmckeon@hilbgroup.com

I have coverage for summers in coastal US out to 250 miles and winter coverage for all of Caribbean except Cuba and Venezuela.

[Captain Bill]

Originally Posted by WE9V

I recently purchased my boat (5 months ago) and therefore have recent insurance shopping experience. Boat in Florida USA. Not only was State Farm the least expensive, they also included "most" of the Bahamas. My agent claimed "all of Bahamas and Turks and Caicos", but that was incorrect. Their standard policy states US, Canada, or within 100nm of either, and:

on trips to and from the Islands of the Bahamas
within an area bounded by the area:
(1) north of 23 degrees north latitude;
(2) south of 27 degrees north latitude;
(3) west of 75 degrees west longitude; and
(4) east of 80 degrees west longitude.

That's not a rider. The Southeast corner of that box is Long Island, so that's about 350nm of the Bahamas.
Another bonus is fairly low deductibles and no doubling, tripling or quadrupling the deductible for named storms.

That coverage is a lot better than the progressive coverage. Unfortunately it would seem that one cannot leave from the Florida to go to the Bahamas. The entire state of Florida is west of 80W, so if one reads the requirements strictly for a trip to or from the Bahamas one is required to start the trip east of 80W or terminate the trip east of 80W. Since most insurance companies try to avoid paying claims, one has to wonder how strictly they would read this.

[WE9V]

Originally Posted by Captain Bill

Unfortunately it would seem that one cannot leave from the Florida to go to the Bahamas.

You must have skipped the part right before that: "Their standard policy states US, Canada, or within 100nm of either, and"

So, it covers all of Florida, and 100 nm offshore of FL, which gets you well East of 80 degrees west longitude and into their abbreviated Bahamas box.

[ZoroMan]

Originally Posted by Bobby Lex

Of course, even with the same insurance company, everybody's coverage can be different.

As suggested, I did a deeper dive into my policy language. I discovered that last year's coverage of 175 miles offshore has indeed been shortened this year to 125 miles. I still have "Bahamas" coverage that is about 80% (not 100%, but close enough for my purposes). My agent informed me that I can get a 100% Bahamas coverage endorsement for another $125.00 per year.

Incidentally, my premium this year is a little over $100.00 cheaper than it was last year.

Bob

Your premium payment is a little over $100 a year?! What length and age boat do you have? It sounds like a 9 foot boat. Or you have friends in very high places.

[CarlF]

Do you put have extensive experience in a similar length or larger boat?

If not, you may have to hire a captain to sail with you for several months.

Insurance for larger boats has gotten much harder because many companies left the business due to large losses from hurricanes.

I would use a broker instead of going direct to companies. They deal with multiple companies. I’ve been happy for over ten years with Gowrie

https://www.gowrie.com/Marine-Insurance/BoatsYachts.aspx

[Bobby Lex]

Originally Posted by ZoroMan

Your premium payment is a little over $100 a year?! What length and age boat do you have? It sounds like a 9 foot boat. Or you have friends in very high places.

My premium is about $100.00 LESS this year than it was last year. (About $2400.00 for a 28 year old, 40' sailboat). My 10' dinghy coverage is about $130.00 of that total, though. LOL.

Bob

[ZoroMan]

Originally Posted by Bobby Lex

My premium is about $100.00 LESS this year than it was last year. (About $2400.00 for a 28 year old, 40' sailboat). My 10' dinghy coverage is about $130.00 of that total, though. LOL.

Bob

Ahhh, I read the line with a COMMA in there. Hahahaha.

Well, I also guess my mind did a little trick on me, hoping you had an agent that gave you insurance on your boat for $100 a year and that you would convey this info to all of us so we could insure our boats for $100 bucks....

[sinnerman]

I use Progressive also, as they were the only one I could find who would insure a 40 year old boat.

the premium is about 10% of the covered value.

Example: for $15K in loss coverage, you pay about $1500 per year.

Insurance also includes the mandatory $300K in liability required by most marinas and towing service.

cheers

JB

[jcapo]

Originally Posted by sinnerman

I use Progressive also, as they were the only one I could find who would insure a 40 year old boat.

the premium is about 10% of the covered value.

Example: for $15K in loss coverage, you pay about $1500 per year.

Insurance also includes the mandatory $300K in liability required by most marinas and towing service.

cheers

JB

Contact susan@marineinsurance.cc before you renew with Progressive. 10% of covered value is a really steep premium.

[Captain Bill]

Originally Posted by sinnerman

I use Progressive also, as they were the only one I could find who would insure a 40 year old boat.

the premium is about 10% of the covered value.

Example: for $15K in loss coverage, you pay about $1500 per year.

Insurance also includes the mandatory $300K in liability required by most marinas and towing service.

cheers

JB

I have Progressive and only pay about 1% on a 21 y/o boat with 500K liability.