Insurance Woes - SailNet Community
Reply
 
LinkBack Thread Tools
post #1 of 14 Old 04-20-2010 Thread Starter
Junior Member
 
Zingaro's Avatar
 
Join Date: Apr 2010
Location: Palau
Posts: 13
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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?

Thanks
Zingaro is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 14 Old 04-20-2010
Banned
 
Join Date: Mar 2006
Location: subject to change
Posts: 1,264
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
Have you tried IMIS? IMIS Home Page
eryka is offline  
Quote Quick Reply Share with Facebook
post #3 of 14 Old 04-20-2010
Telstar 28
 
sailingdog's Avatar
 
Join Date: Mar 2006
Location: New England
Posts: 43,290
Thanks: 0
Thanked 14 Times in 12 Posts
Rep Power: 14
         
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.

Sailingdog

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Telstar 28
New England

You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.

—Cpt. Mal Reynolds, Serenity (edited)

If you're new to the Sailnet Forums... please read this
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
.

Still—DON'T READ THAT POST AGAIN.
sailingdog is offline  
Quote Quick Reply Share with Facebook
post #4 of 14 Old 04-20-2010 Thread Starter
Junior Member
 
Zingaro's Avatar
 
Join Date: Apr 2010
Location: Palau
Posts: 13
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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
Zingaro is offline  
Quote Quick Reply Share with Facebook
post #5 of 14 Old 04-20-2010 Thread Starter
Junior Member
 
Zingaro's Avatar
 
Join Date: Apr 2010
Location: Palau
Posts: 13
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
What insurance do you salts use when Cruising outside the Carib?
Zingaro is offline  
Quote Quick Reply Share with Facebook
post #6 of 14 Old 04-20-2010
Banned
 
Join Date: Mar 2006
Location: subject to change
Posts: 1,264
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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.
eryka is offline  
Quote Quick Reply Share with Facebook
post #7 of 14 Old 04-22-2010
Sundance 23
 
carl762's Avatar
 
Join Date: Jan 2010
Location: Portland Oregon
Posts: 878
Thanks: 2
Thanked 5 Times in 5 Posts
Rep Power: 6
 
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.

Water is Life
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
carl762 is offline  
Quote Quick Reply Share with Facebook
post #8 of 14 Old 04-26-2010
Sundance 23
 
carl762's Avatar
 
Join Date: Jan 2010
Location: Portland Oregon
Posts: 878
Thanks: 2
Thanked 5 Times in 5 Posts
Rep Power: 6
 
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.

Water is Life
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Last edited by carl762; 05-03-2010 at 06:48 PM.
carl762 is offline  
Quote Quick Reply Share with Facebook
post #9 of 14 Old 05-01-2010
Junior Member
 
Join Date: Mar 2010
Posts: 4
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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.

Blue Lagoon
Pearson 53 Ketch
BlueLagoon is offline  
Quote Quick Reply Share with Facebook
post #10 of 14 Old 05-03-2010
Sundance 23
 
carl762's Avatar
 
Join Date: Jan 2010
Location: Portland Oregon
Posts: 878
Thanks: 2
Thanked 5 Times in 5 Posts
Rep Power: 6
 
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.

Water is Life
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
carl762 is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Boat Insurance DonQuijotedelMar General Discussion (sailing related) 1 11-20-2010 01:37 PM
Pleasure boat insurance in Spain DonQuijotedelMar General Discussion (sailing related) 0 07-07-2006 03:56 PM
Boat Insurance perils in Spain and elsewhere in Europe. DonQuijotedelMar General Discussion (sailing related) 0 06-17-2006 01:04 PM
The Right Insurer and the Best Policy Michael J Smith Buying a Boat Articles 0 06-03-1999 08:00 PM
The Right Insurer and the Best Policy Michael J Smith Cruising Articles 0 06-03-1999 08:00 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome