'boat location' for insurance renewal

[john61ct]

Originally Posted by WindwardPrinces

Presumably, you'd have to list where you're actually going to keep the boat.

The whole premise here is for when there is no such place.

For nomadic liveaboards, the only generally true statement is, the boat goes where I do.

[Rivatar]

I think insurance has changed this year after the disasters to fleets in the Caribbean. While the insurers screen needs a valid address in order to get to the next screen, this is just a programming error.
However, in my case, this year my impression is that true cruising livaboard yachts, insured through Lloyds syndicates, have had a massive increase in premiums for the same cover.
My renewal was framed so as present a comparable premium to last year, but the insured value was reduced by one-third.
Quotes for non-Lloyds policies specifically exclude liveaboards. That is the unendorsed policy defined a cruising area, covered the yacht while in transit, but expects the yacht to return to the named marina.
This does not cover yachts in transit, within the defined waters, but on the hook for months on end.
I have an endorsement for livaboard, but am still looking for a policy which suits my situation of sum insured and true cruising.

[boatman61]

With a UK reg boat I designate a 'Home Port' then get cover down to Gib and the whole of the Med..
Cruising Grounds.
If I want to cross to Caribe I have to notify them but otherwise just a home port is sufficient.
Everythings done online.

[sailorboy1]

I changed my home address from New Hampshire to Florida. Because I now lived in Fl they couldn’t really say I couldn’t be in Fl during hurricane season. So my restriction to be north of Cumberland Island GA between June-Nov 1 was taken off the policy. They instead added that if in the hurricane zone June-Oct 31 and damaged by a named storm my deduction was 10% of the policy agreed value.

My premium went DOWN $120

[a64pilot]

I have wondered why I don’t have a keep out of Fl during hurricane season clause in my Insurence, never though it was due to my home of record.
My Insurence went down when I added the dinghy, multi boat discount. I increased by survey my insured value by about 50% yet my Insurence only went up a small amount.
Sometimes Insurence is hard to make sense of

[WindwardPrinces]

Originally Posted by sailorboy1

I changed my home address from New Hampshire to Florida. Because I now lived in Fl they couldn’t really say I couldn’t be in Fl during hurricane season. So my restriction to be north of Cumberland Island GA between June-Nov 1 was taken off the policy. They instead added that if in the hurricane zone June-Oct 31 and damaged by a named storm my deduction was 10% of the policy agreed value.

My premium went DOWN $120

Because they know you're only going to get hit by a hurricane once every 10 years.

[john61ct]

Originally Posted by a64pilot

Sometimes Insurence is hard to make sense of

That is increasingly true for all those topic domains managed by sufficiently advanced AI / neural net / fuzzy logic / learning algorithms.

Nobody - not even their programmers - understands how the most advanced deep-learning machines make their decisions.

When Deep Blue won its rounds of Go against championship players, its moves freaked everyone out, and the nature of the neural net calculations are so complex none of the researchers can divine a logical explanation of it's "reasoning".

Google researchers, in fact, have recently published “The Building Blocks of Interpretability”*on this topic, and given the increasing use of these systems in business and government, it is troubling.

Their functioning quickly advance well beyond the realm of human understanding.

“There is simply no way to design a system that will explain why it did something that was not expected”
—John R. Miles

https://ai.googleblog.com/2018/03/th...etability.html

https://uxdesign.cc/ai-today-definit...y-3eda9b78a37a

[polaris2.11]

Originally Posted by endlesspursuit

I was told just recently by Boat US that the would no longer do Liability only policies for boats over 30 ft. Did that come up in the conversation polaris2.11?

No, have not heard that.

[colinalleck]

Having worked in the insurance industry for 40 years, my best advise it to confirm, in writing to the insurance company the verbal advise given to you by whom and the time and date the advise was given

this confirms the material facts declared by you, acceptance by the underwriter and you have fully completed your duty of disclosure.

this doesnt necessarily mean they will willing pay your claim, but their arse is grass and in a court of law you are a lawn mower.

the each renewal i would also suggest you reconfirm your cruising status

in closing wouldn't it be great to live in a world where insurance doesnt exist -- consider the ramifications

[valhalla360]

Originally Posted by polaris2.11

I just spoke to Sarah at BoatUS and she was readily able to confirm j61's info that, as long as the cruising area limits are adhered to, the 'boat location' address is not relevant and claims will be paid. I asked specifically if I could use the address where the boat is registered, even though the boat may never actually be there again, and she said that would be fine and that the address was for 'administrative purposes' only.

...must have got a dud rep last time. Sarah was right on top of it and understood our situation exactly and immediately.

Case closed I guess. Hope this thread helps some lurker or two out there.

Did you ask for a written (email would be fine) confirmation or some other record documenting the conversation?

She may be on top of it...or she may just have told you what you wanted to hear because she will never be held responsible for it. Without written evidence, you can't prove she said it.

We are fighting with our health insurance over a similar issue right now where we only got verbal confirmation and now they are saying they didn't give that confirmation.

At the very least, send them an email that per our converastion with Mrs. XXX on 1 July 2019 at 2:30pm, I explained.... and she recommened... If this is incorrect, please provide the appropriate answer by 14 July 2019.

[polaris2.11]

Thanks Val and Col. Good advice. Done.