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-   -   Cruising Insurance Company for the Carribbean (https://www.cruisersforum.com/forums/f19/cruising-insurance-company-for-the-carribbean-44236.html)

Don1500 18-08-2011 04:36

Re: Cruising Insurance Company for the Carribbean
 
Most of the boats I have had cost less than the insurance would. I would just like to know a "Ball Park" figure for a 35' sailboat, liability only. Is it $500 a year or $5000?

Ellis McKinley 20-08-2011 13:52

Re: Cruising Insurance Company for the Carribbean
 
I used IMIS for years for all of Caribbean, South America, Panama Canal, Pacific Central America and Mexico. They also allow a crew of two for all your passages.

teejayevans 20-08-2011 18:13

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by Ellis McKinley (Post 755197)
I used IMIS for years for all of Caribbean, South America, Panama Canal, Pacific Central America and Mexico. They also allow a crew of two for all your passages.

Singlehanders need not apply...
Tom

Don1500 20-08-2011 18:57

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by Ellis McKinley (Post 755197)
I used IMIS for years for all of Caribbean, South America, Panama Canal, Pacific Central America and Mexico. They also allow a crew of two for all your passages.

So ball park answer = $???

Jon Hacking 20-08-2011 19:55

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by Don1500 (Post 753551)
Most of the boats I have had cost less than the insurance would. I would just like to know a "Ball Park" figure for a 35' sailboat, liability only. Is it $500 a year or $5000?

Don, liability is usually quite cheap. Our broker (RBS in South Africa) quoted $250/yr for $1M of liability coverage if we decided to start chartering, but that's added on to our existing policy. I don't know what a liability (only) policy would cost. Typical premiums for hull insurance run 1-2% of insured value per year.

Don1500 20-08-2011 21:09

Re: Cruising Insurance Company for the Carribbean
 
That's what I was looking for. It sounds reasonable at least, but that is for some coverage that I may not need. Chartering is not on the table right now. Anyone have a figure for Liability and Hull coverage, pleasure boat, East Coast of the US to the Carib.

Jon Hacking 20-08-2011 22:12

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by Don1500 (Post 755452)
That's what I was looking for. It sounds reasonable at least, but that is for some coverage that I may not need. Chartering is not on the table right now. Anyone have a figure for Liability and Hull coverage, pleasure boat, East Coast of the US to the Carib?

Go ahead & ping Chandre Stemmers at RBS. She doesn't bite.:whistling: Usually, the side issues (dinghy, theft, liability, etc) are a small fraction of the basic boat premium, but a lot depends on your deductible (ours is $5K, which is just over what we lost in the last lightning strike:(). If you're looking for a ball-park figure, it's usually about 1.4% of whatever value you want to insure your boat for. Do you need more accuracy than 2 digits?:popcorn:

The Caribbean brings up special issues, as very few companies will cover you during hurricane season. RBS quoted us an extra $1K for Caribbean coverage during hurricane season. Some places are not happy insuring us Yanks because of our sue-happy history. US underwriters simply charge us (WAY) more.

While we're talking about insurance, you might consider DAN evacuation insurance. Dirt cheap (they're non-profit) - they'll cover a family of 4 for only $140 for their full meal deal. They paid for me to fly from Seychelles to Jo'burg for emergency eye surgery (they even paid for the surgery) & they also helicoptered our son out of the Himalayas when he got altitude sick. Highly recommended.

Don1500 20-08-2011 23:17

Re: Cruising Insurance Company for the Carribbean
 
This was what I was looking for. The observation that a US company would charge more is telling. The numbers you mentioned are about what I was looking for. They come out to around $140 per $10000 of valuation, which is not prohibitive. I will check out Chandre Stemmers as soon as I know which boat I will be buying and how much insurance I will need.

Jon Hacking 21-08-2011 06:17

Re: Cruising Insurance Company for the Carribbean
 
Good Luck! Feel free to tell Chandre you got her name from us.

ErikFinn 02-09-2011 00:41

Re: Cruising Insurance Company for the Carribbean
 
Sent an email to IMIS and Commandeur on (Wednesday) asking for approved or recommended surveyors; IMIS replied almost instantly but until today (Friday) Commandeur has not replied.
Erik

colemj 02-09-2011 08:48

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by grunzster (Post 753238)
I know this is a really old thread, but I think some people need to read their policies more closely. I got a quote from Commandeur just a few days ago, and it has the same clause as described earlier.

With all the toys I have aboard...laptops, cameras, bike, kayak, dive gear, etc. that one could be a deal breaker.

Even worse it excluded passengers aboard the dink, and while boarding or un-boarding both. Considering I plan on chartering, I think this may be an even bigger deal breaker for me.

Sorry I didn't respond to earlier requests, but have been cruising in areas without internet coverage and haven't been on the board much.

Commandeur told us that a locked boat was considered locked up storage, so forced entry through our locked hatch would fit the bill. I don't know about anything stored on deck like kayaks.

Grunzster, if you are going to charter, you will need to tell your insurance company that and you will have much different rates. Our Commandeur policy specifically excludes chartering, and I imagine most others will also.

Mark

Jon Hacking 02-09-2011 09:49

Re: Cruising Insurance Company for the Carribbean
 
Quote:

Originally Posted by colemj (Post 765631)
...if you are going to charter, you will need to tell your insurance company and you will have much different rates...Mark

You're right that one needs to tell your insurer if you intend chartering, but it's not too bad. Our policy has a no-charter clause, but when we asked what it would take to allow chartering, it was pretty minor - basically just increasing liability coverage, which is pretty cheap.

speciald@ocens. 02-09-2011 10:31

Re: Cruising Insurance Company for the Carribbean
 
I used Hodgens insuranc for my power boat - full time in the Caribbean. I got a LLoyd's policy that was remarkably inexpensive - all risk at ~2%. Chubb insurance covers the Caribbean in their standard off -shore policy (<1%)

off-the-grid 02-09-2011 10:32

Re: Cruising Insurance Company for the Carribbean
 
Thanks! So as long as it's all locked in the cabin it's covered. You have me reconsidering them now. I still don't like that they don't provide coverage for passengers. Some of the quotes I've been getting really aren't much more than my current policy.

SharAndy 07-09-2011 18:03

Re: Cruising Insurance Company for the Carribbean
 
Watch out for the fine print in any policy.....such as clauses about maintaining the boat, etc. which is a fall back should something go wrong...After thorough investigation among a # of policies/companies, including those mentioned in these threads, I settled on Offshore Risk Management (ORM) w a policy from Marine Insurance Co.which give good coverage for hurricane damage with the least deductible, etc. & fewer 'gotcha' clauses. Contact Susan A. Coates sac@offshorerisk.com


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