UK Expat boat insurance - insure a boat in UK without UK residency

[YoureBarrd]

I called USAA. Although they don't insure boats, they have agreements with Progressive for boats valued at less than $250,000 and Markel for boats at and more than $250,000. Neither company will insure a boat in the UK.
Pantaenius Yacht and Boat Insurance has offices in UK and Europe. I'll give them a call tomorrow.

Regarding the idea of the LLC, it's interesting. I don't have a business mind. Even after contracting for a permanent mooring, in order to have a UK address, I couldn't even get a Sainsbury's Loyalty Card. The LLC idea will take more research and effort, but it's worth a try. I'll talk to Company Registration Direct tomorrow as well.

Thanks for the suggestions.

[YoureBarrd]

-Promising: Topsail, who in May 2023 said no to non-UK resident insurance for a UK-based narrowboat, now says that there may have been a recent change, and will get back to me in the next day or two with an update.
-Pantaenius Yacht and Boat Insurance's agent quickly said no to non-UK resident insurance for a UK-based boat.
-Still researching the LLC option. No residency requirement to create LLC or other legal entity. P.O. Royal Mail Box is acceptable. Ownership of boat by LLC allowed, but permanent UK address of LLC officer(s) could be a problem.
-I considered buying a flat in the UK to establish ownership of UK property with residency status, buy Haven Knox-Johnston said permanent residency is required, not partial year residency: denied!

[Montanan]

FYI.

Topsail is an insurance distributor; they are not underwriters.

A.k.a. a broker / agent.

Good luck.

[boatman61]

Originally Posted by YoureBarrd

-Promising: Topsail, who in May 2023 said no to non-UK resident insurance for a UK-based narrowboat, now says that there may have been a recent change, and will get back to me in the next day or two with an update.
-Pantaenius Yacht and Boat Insurance's agent quickly said no to non-UK resident insurance for a UK-based boat.
-Still researching the LLC option. No residency requirement to create LLC or other legal entity. P.O. Royal Mail Box is acceptable. Ownership of boat by LLC allowed, but permanent UK address of LLC officer(s) could be a problem.
-I considered buying a flat in the UK to establish ownership of UK property with residency status, buy Haven Knox-Johnston said permanent residency is required, not partial year residency: denied!

Use the boats address as your LLLC address, I assume it's at a marina or fixed spot when not being used.
Common practice for canal boat liveaboards.

[Ratbasher]

After being told by GJW that my insurance wouldn’t be renewed and being refused by every other UK insurer, I contacted Pantaenius Germany. Their reply was almost immediate and positive. Though about 30% more expensive, at least I’ve maintained cover. However, it’s essential to read the small print as there appear to be plenty of differences to a UK-based policy. For example, you need to specifically include (and pay extra for) 3rd party insurance. The proposal form required much greater detail about the vessel and its history.

[YoureBarrd]

Ah ha! Pantaenius GERMANY, not UK. Great info, thanks.
Additionally, although Topsail said they still don't insure non-UK residents, they will reconsider their policy after the beginning of next year.
I was able to get insurance through Velos Marine Insurance Specialists. Their reinsurer is a Swiss bank. As you mention, the price was high: for a 2009, 60 foot narrowboat at an insured cost of £74,000 Haven Knox-Johnston charged me $354 before deciding not to extend the policy. Velos is charging $604, which is a 70% increase annually. But their process is online, quick and easy - not a lot of questions. Still, I'll have to talk to Pantaenius Germany to see what the price difference is.
It's nice to have a choice now, where there seemed no possibility before.

[Alan H]

I am trying to buy a small cruising sailboat in Scotland and running into the same problem. I've contacted Topsail, they haven't gotten back to me yet, but I've contacted about 6-7 other companies. (Noble Marine, Basic Boat, etc) and none of them will insure a non UK resident. Pantaenius won't insure any USA resident.

USAA's boat insurance is run through Progressive and they've already said "no". Geico was "no". I will call a local Famers agent, tomorrow. There's also Markel, here in the States. This isn't looking good.

[YoureBarrd]

Hello Alan,
I think that Velos Insurance Services, Ltd. will be able to insure your boat. Their contact information is:

Phone: +44 (0)20 7929 4058
E-Mail: insurance@velosgroup.co.uk
Website: www.velosinsurance.co.uk
Address: Notcutt House, 36 Southward Bridge Road, London, SE1 9EU

They charged us a total annual premium of £512.45 for our 2009 model year Aquiline, 60 foot narrowbeam narrowboat, valued at £74,000, from1 Dec 2023 to 30 Nov 2024.
Their application process is pretty simple.

Ratbasher mentioned that the Pantaenius office in Germany, not their UK office, might also offer insurance. It sounds like they have a more rigorous application process.

Good luck!

[sailingfreddy]

Velos was able to cover us as well (two Americans, residing in the US, with a boat in the UK). Thanks YoureBarrd for the recommendation; we were nearing running out of options.

[YoureBarrd]

Great news! I’m glad Velos has kept both our cruising/sailing dreams alive. I was very pessimistic about that before our harbormaster recommended them.

[svRaison d Etre]

No luck with us from Velos. They do not do liability on US flagged boat and built in 1979 is too old for comprehensive

[YoureBarrd]

Ratbasher said that although Pantaenius, UK refused insurance, he was able to get insurance through the Pantaenius office in Germany. Have you tried them?

[Montanan]

Originally Posted by svRaison d Etre

No luck with us from Velos. They do not do liability on US flagged boat and built in 1979 is too old for comprehensive

55 years young. Pre-millennium era.

Indeed, it is becoming more of a challenge to obtain insurance for a vessel that is older than most of the agents and brokers.

The many legal and commercial issues associated with mixed jurisdictions of flagging and of situs of the vessel complicates matters considerably.

[Water Ed]

We live in Canada and had our narrowboat insured by GJW. After reading this thread I tried topsail, Pantaenius, Haven Knox-Johnston and velos, only velos offered insurance for our narrowboat, but there are limitations on the legal insurance since we're not uk residents. The cost was 20% higher.