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  #1  
Old 04-20-2010
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Question Insurance Woes

Hello

I am a US citizen residing in Palau. I am in the process of purchasing my first boat, a '77 Kelly Peterson 44, and having difficulty finding insurance for it. "At this time I do not have a market for you due to the navigational territory and ownership experience."

I need to hire a delivery crew to help me get my boat from New Zealand to Palau. A reputable delivery captain requires insurance on the boat.

What do you salts do for insurance while cruising? How does a first time boat owner go about obtaining insurance?

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Old 04-20-2010
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Have you tried IMIS? IMIS Home Page
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Old 04-20-2010
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sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice sailingdog is just really nice
Have you tried Lloyds of London, since you're out of the USA, most of the better companies for you to deal with will be based in Europe. Chubb might also be a good choice.
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Old 04-20-2010
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I have a quote request in right now with IMIS and haven't heard back yet. I have been trying to find Lloyds but a google search brought up several small companies underwritten by Lloyds. Can you tell me how to get a policy directly through lloyds?

Thanks for the feedback
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Old 04-20-2010
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What insurance do you salts use when Cruising outside the Carib?
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Markel's "Jackline" - a lot of cruisers use this, its good worldwide and with shorthanded crew like a couple. I don't know how your stated inexperience would play into this, if they'd charge you a higher rate to account for it. Wasn't an issue with us, so we can't tell you what to anticipate, or even if they'd accept you at all. We got our policy through IMIS.
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Old 04-22-2010
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BoatUS used the "inexperienced" angle on me just yesterday relative to the pollution liability coverage I need for the marina I'm going to drop the boat in at. Frustrating. Then, they sent me to another in-house underwriter who would only insure me for $300,000, when $500,000 is required. I hung up on the guy. Guess he didn't think of charging more $$$$. I hate insurance companies. Waiting to hear from another underwriter.

IMIS next.

Good Luck.
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Old 04-26-2010
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Other company wrote me a $500,000 policy no problem, with comp, medical, etc., $260ish a year. I don't understand what the problem was with BoatUS.

Guess they figured inexperienced had to start out somewhere.
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Last edited by carl762; 05-03-2010 at 06:48 PM.
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Yep me to

I am also a new boat owner and had difficulty getting insurance, I used the same insure as the previous boat owner and was able to get it but it's expensive. My broke said in three years they can can submitt the policy to a wider audience to see of the rate can come down.

I can give you my broker name if you are still having difficulty getting insurace.
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Old 05-03-2010
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3 years is a long time. Well, for now, at least got the insurance policy I need for the marina. Definitely want to be claims free for years, hopefully forever.
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