insurance quote HELP

[rourkeh]

I am getting ready to pull the trigger on a 1982 61' Hatteras cockpit motor yacht and checked with my insurance guy in Florida for a quote. I am going to keep the boat in St Maarten year round, and have a very good resume of vessel ownership experience and no claims ever. I have owned a string of larger, newer boats over the years and worked in the marine business for over a decade and have run everything up to 100'. Quote for $250,000 value was around $10,000. I am wondering what you guys are doing for insurance and what you are paying for similar age and value of vessel.
Big shock as I thought it would come in around $4k - $5k a year. It also seems that since Irma there are very few companies who are writing policies on older boat in the Bahamas and Caribbean.
What to do, what to do?????

[Fish Tales]

I use Atlas out of Cocoa Beach FL for my 65c. I started with my 41c, then 45c and now 65c so my experience did not require a captains license. They did jump this last renewal, but I am full time Florida at about 4500 dollars per year.

Hope this helps,

Have a great weekend,
Tim

[Briankinley2004]

That sounds about right. I am paying $3800/year for 88K in coverage. you are triple that in value. Mine is a 55 Hatteras. I shopped multiple companies and my agent did too. Only found two that would cover me. I have a captain license and experience so I think being in a hurricane zone was the issue for me. The coverage on my catamaran on a trailer is $2k per year for 50K but that includes charter coverage. If you do the math though that would be 10K for 250K

[racclarkson@gmail.com]

That sounds about right. I am paying $3800/year for 88K in coverage. you are triple that in value. Mine is a 55 Hatteras. I shopped multiple companies and my agent did too. Only found two that would cover me. I have a captain license and experience so I think being in a hurricane zone was the issue for me. The coverage on my catamaran on a trailer is $2k per year for 50K but that includes charter coverage. If you do the math though that would be 10K for 250K

$2,167 on double the value with no FL coverage during hurricane season. No increase for 2018/19.

[Freestyle]

I use Jack Martin & Assoc. Just got a quote for $7100 on agreed value of $330k from GEICO. Home port is Tampa. No claims in over 20 years.

Bruce
Freestyle
1986 62 CPMY (54 with 8 foot extension)
Tampa

[Briankinley2004]

$2,167 on double the value with no FL coverage during hurricane season. No increase for 2018/19.

who you with. im moving

[Briankinley2004]

is no FL coverage mean you are not covered in Florida?