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Old 25-07-2020, 07:01   #1
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Boat Insurance

My husband and I are making an offer on a catamaran. We plan to live onboard and cruise the Bahamas/Florida depending on the situation with COVID. Any recommendations on insurance companies? What we should look out for/pitfalls in insurance coverage?
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Old 25-07-2020, 07:22   #2
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Re: Boat Insurance

Pay attention to the hurricane provisions in your policy, because those are going to be important if you are in Florida and/or the Bahamas in hurricane season. And, also your coverage areas.

For Example, we had to add Bahamas coverage to our policy because we boat there a lot. Example:

"THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. BAHAMAS COVERAGE
Permission is granted for navigation of an “insured boat” in the waters of the Bahamas and the Turks and Caicos, not south of 20.5 degrees North Latitude and not east of 70.5 degrees West Longitude."

"Applicable to Hull and Equipment: For any covered loss due to a "named storm" that occurs while the "insured boat" is located in AL, FL, GA, LA, MS, NC, SC, TX, the Bahamas, the Caribbean or Mexico, the deductible applied to each loss is the greater of the Hull and Equipment deductible, $1000, or 5% of boat's "insured value"."

This is just what our current policy says. Our old policy, covered everything, with no deductible, except for "The Box", during Hurricane season, which you will see on a lot of Caribbean boat policies. It cost a lot more.

You can get anything you are willing to pay for, but just make sure you understand what happens if you lose your boat in a hurricane in a particular place in a particular time.
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Old 25-07-2020, 17:38   #3
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Re: Boat Insurance

Thank you!
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Old 25-07-2020, 18:31   #4
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Re: Boat Insurance

Skip BoatUS/ Geico. Do a search.
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