Financing and Insurance

SamV1 · #1 08-10-2009

Greetings. Bought a boat about 2 yrs ago (Beneteau 42 CC) and looking to cruise Carib Nov09-March10. Two questions, what are the implications of having financing on the boat (KeyBank).. will I need the title to cruise? Will the bank allow us to sail out of US waters? (70% of boat is paid)
Also, what is the best, well capitalised and hassle free blue water insurance company to contact.
Thanks, SV.

night0wl · #2 08-10-2009

On my boat financing (Bank of America) I need permission from my bank to leave the country - there is a request form on their website.

I would only go to where I am insured (Bahamas/Turks & Caicos).