Here we go! Non-Renewal from NMU!

[GaryNW]

This discussion brings back only the bad memories of the 70's when I had my 38' woodie. The practices of the insurance companies were exactly the same then. My last (10) years of ownership included no insurance! My financial exposure was minimal then; if/when I buy a big Hatt to replace my house, I will be back in the game. At least no hurricanes in the pnw.
But I have a dream- why couldn't a bunch of boaters- say vintage Hatt owners, start an exclusive ins company? Exclude all boats save a few makes. Interview each prospective signee at his/her slip. Grade the person, grade the slip, grade the boat. Hell, have surveyors on staff! Are there laws that require ins companies to be stupid-run? I doubt it. How many businesses operate strictly on statistics without any real on-site presence in the field? I'll bet all of the grocery stores where I shop have produce buyers at the farms on a regular basis. Yep, much more effort goes into putting proper potatoes on the shelf, than goes into eliminating the problem boat owners by the ins companies. The grocery store fears the competition, and should. The ins company doesn't fear the competition. That has to tell us something. Are they protected by federal/state laws that prohibit competitive practices (like get-off-your-asses and run this like a real business).
Nice rant, huh!? Before you tell me that the ins companies are not allowed to discriminate against the idiot owner, be aware that my auto/home/small boat company does just that. My rates are great; for years my premiums declined as my no claims/no citations added up. Do not apply unless your record is real good. Thats all most Hatt owners are asking for.
Gary

[Genesis]

Yep. Insurance companies sure DO discriminate on your record. Hell, they pull your CREDIT HISTORY nowdays and look at THAT!

If they don't like it, guess what - either no insurance or a VASTLY higher premium.

[34Hatt]

When I bought my little boat I asked Boat/US to write insurance with a named storm exclusion. Why? Because its trailerable - if there's a named storm I will hook it up to the truck and get it the he|| out of here. No risk of damage during a named storm - period - and I'm willing to bear the cost if I DON'T do it and the boat gets trashed as a consequence.

They refused.

Well now that is BS one would think they would jump at that offer!!!!
Just goes to show where they are heading with all of this and its not pretty for us

[Walter P]

There is power in numbers.... A couple of days ago we were all told that we have reached the 1000 member mark on this forum. Perhaps a possibility would be for all of us to make a pact with Sam's or someone else if Sam's doesn't want to get involved to get our boat insurance as a group. It would probably hurt me in NJ somewhat since I pay so little now, but I'm willing to consider joining a group if it helps preserve the classic Hatteras owners.

Obviously I know little about the insurance industry, but I'm certain that there is plenty of talent regarding this issue within this forum. What do you all think? Is it worth kicking around?

Walt.....

[ThirdHatt]

Excellent idea, now how do we move forward and approach an underwriter?

[Maynard Rupp]

Sam's would be a great outfit to handle this. That is how Boat US got into the insurance brokering business. Doug, tell Steve that having Sam's Marine broker insurance for classic Hatterases would be, IMHO, a great addition to their already great service business.

[ohiohatteras]

Count me in!

[stewart]

National Marine Underwriters will not renew insurance on my 58 MY also. No claimbs been with them 4 years in Florida. Now another search and survey.Stewart

[bobk]

[QUOTE=Walter P]So what happens when I take my boat from NJ to Fla ?... In previous years whenever I wintered in Fla. (about 4-5 months), my NJ insurance covered me. From the numbers I'm seeing that you guys are paying, NJ with all it's problems suddenly feels real good. I'm paying about $1,450.oo yr for full coverage with a $5,000 deductable for my 1982 48 MY. I think I'll stay up north in the summer and charter in the winter. Between high fuel cost, $100 per hr boat yard bills and a shortage of slips it shows real perserverance on the part of all of us to stay in boating. Keep the faith.... remember the worm tuns/QUOTE]

Walter, you got a deal. Who are you with? Price quotes on my new to me 1981 48MY ran from $3500 to about $10,000 (BoatUS). We will keep it in Baltimore for the hurricane season and then in Port St Lucie FL for the winters. We ended up with Windsor Mount Joy ($3662) through Damon Hostetter of Jack martin Assoc. in Annapolis.

By the way, for those of you looking to do the north - south thing, our condo is about ten miles up the north fork of the St. Lucie River on Kitching Cove. Modestly priced and the best of all slips are $12.00/foot/year. You pay for electric.

Can any one provide a contact number for CL

Bob

[J's Dream]

Can any one provide a contact number for CL

Bob

This is a quote from Karl in a previous post:

had a new policy issued by Charter Lakes just a month ago - on the gulf coast.

Call Chad... 888-418-8301 - he might be able to help you.