It's time for HOYC

[mopester]

All, I am a newbie here but, This idea sounds great. However, !!!! I am currently a memebr of a not-for profit yacht club and we are going through some groing pains...to lenghty to describe, but because we have made some mistakes we may loose out altoghether, to the big investors that have there toes in it. We did fix our insurance problem by getting a baloon or something similar (which i can check on), but to get it we had to do away with any type of fueling from gas cans, including inflatables(what!!, are you for real!!) come up with a Heavy wx plan, and require insurance proof from transiets, etc etc. I also have a friend who is an indipendant insurance writer. I asked him about the recent rate hikes,and why mine went up 1000$ in one year, his honest answer is its bs! But said tht a recent survey that is well writen should aleviate high prices. He said the answer you will get for it is katrina losses. I can ask him about insuranc for something like this club. As far as the usps and uscga part of the reason those guys get a break is because they teach the safety classes and the "facility" is over over equiped. I belive it equiped properly. If we had some sort of a certified mandatory class to gain membership it may help with rates.

I voulnteer to be the port captain for narragansett bay in rhode island.

Mike

[yachtsmanbill]

Mike-- you never answered my question... Where did you find the HIN brass tag?? I would figure my '74 would have one as well. Stay on your insurance guy; we need a group rate for sure !! Thanks, ws

[mopester]

bill, found it in the engine room on the deck near the forward hatch from the galley.

Sorry about that. i am reading and typing in all sorts of areas now that i am figuring out this computer stuff!!!!

mike

[34Hatt]

As far as the usps and uscga part of the reason those guys get a break is because they teach the safety classes and the "facility" is over over equiped.

Well as for the USPS Insurance I am a memeber and got a price qoute. It was double of my brothers boat a 1984 35' Chris and the total $ was very close. Well after beating them down to find out why it was because they added 25% due too age. I told them I had a survey that everything was replaced and is newer and better then my brothers 1984 boat. Well like most companies it was like talking to a Rock so went with Boat US. So they all have their problems and nobody is getting off easy or Cheap

[Walter P]

I must have the best deal ever on insurance with my boats. My policy is with Allstate as well as my Home owners, cars, life insurance, umbrella etc.

The fact that I have so many coverages with them is only one of the reasons that I get such low prices. Another reason is that there haven't been any claims. Perhaps one more reason is that I am a member of the U.S.Coast Guard Aux and have aquired just about most of the qualifications, including coxwain. Teaching boating safety classes is probably a pretty good qualification to present to the underwriters also. For whatever it's worth, my 1982 Series 1 MY with full coverage and a 2% deductable costs me less than $1,500.00 per year.

If anyone out there would like to do some voluntary duty with the CG Aux, I can promise that it's a great experience. You get all sorts of real training in order to qualify you for safety patrols either surface patrols or air patrols. Some of the other areas of involvement include training to be an instructor or a vessel safety inspector, or if you have the time and qualify you may want to get qualified to serve in various capacities aboard one of the cutters. I have also crewed aboard the tall ship Eagle several times when I was a little younger - great experience. Let me know if anyone wants to talk about it and I will be pleased to answer your questions.

Besides having a great time and getting more time on the water, you will also be helping our country.

Sorry for the long commercial but I think the CG Aux or the USPS are excellent experiences for any boat person that should be worthy of consideration even without the insurance and other benefits.

Walt

[mopester]

Did this thread die??

Talked to my insurance guy the other day. He said (without a lot of research) that insurance would not be very expensive overall. We talked about dock, building, and transiet coverage, leaving each member thier own responsability to insure.

he said, Sometimes "clubs" actually get better policies! especiallly when they prove expieriance, safety guidlines etc.

I am still into this. The place i am at is not for profit and we build our own docks and complete our own maintenance. It works awesome.

[Freebird]

Your thoughts??

Sure would be a blast to have several get togethers every year with kindred spirits.

Have fun using your boat garyd

I for one would absolutely LOVE to have get togethers with as many members as possible. There was talk of such a rendezvouz which I believe may have actually been started by Carl Guzman before he and I ever met.

There was a discussion with Byron that lead me back to an old thread where several members talked about participating in a trip to the Bahamas sometime this June. Don't look now, but June is little more than three months away, and nobody is talking any more. Let's do more than just talk, shall we?

I know Gary is planning a trip to the islands before June, but hell, we don't have to go to the islands to get together. How about everybody getting together smack dab in the middle of Lake Okeechobee for a little freshwater washdown? The destination really doesn't matter does it? I can't tell you how much I have enjoyed meeting members of this forum in person. It has always resulting in everyone having a good time, good conversation, good food, and the occasional good drink or ten.

My 58 is still blown up and things keep changing by the hour in my personal life, but my 41DC is up and ready for anything even if the 58 ends up belonging to somebody else before I get it fixed the way I wanted it to be.

Now who wants to do more than talk about a really big gathering of classic Hatteras yachts? I vote we make it a prize winning affair especially if there is a big prize for traveling the greatest distance and I show up with my 41 from TN! Otherwise I would suggest a big prize for whoever shows up with a surface-only 58TC and a Southern accent!

Let's do it, y'ont to?

[eclipsarkanna]

This thread is definitely on to something. If the non-profit Yacht Club (which could clearly be an electronic Yacht Club) had enough members with a low claims record and the collective premiums justified it, they have in Bermuda what is known as a "Captive" (basically a self insuring insurance company). Recently, Bermuda implemented what is called a 'segregated account' company which holds an insurance licence and you can now effective "rent" a cell which conducts captive business. Prior to the "cell company" concept only very large companies could make a "captive" work. Now with the cell concept, much smaller groups can now self insure. The key would be to screen out the high claims Hatt owners, set fairly high deductibles and it would be a no-brainer. The "premiums" get paid into the captive (these can be done in the US as well but I don't think any state has yet come up with the "cell company" concept) and if no claims are made, these funds sit and are owned by the owners of the captive cell - once the capital base gets big enough, the premiums on the self insured group gets reduced to nothing (ie: non-profit concept). So this is not a crazy idea - just takes a lot of effort on the part of someone to "herd a bunch of cats". No. I am not an insurance salesman. Plus, I am gone from this rock in the middle of the Atlantic in 8 weeks, 3 days, 4.8 hours and 27 seconds to retirement oblivion.

[garyd]

I'm still interested and excited to do this. Although I realize it's a bunch of work. But the posibilities are limitless.

Hearding a bunch of cats LOL yep I believe that most of the Hatt owners are self made strong willed men. That is good and bad most of us own their own business because we made bad employees. We actually tried to get something done in a timely manner. And of course made waves.

Yes, we could start down the path of insurance to be the catalyist to get this thing cranked. If we got 1000 HAtt owners to pay 5k per year into an insurance fund that would give us 5 million to start. Maybe at first we use an insurance company with a high deductable and use the funds gathered to cover the deductable. Then as the fund grew become totaly self insured. From that we could use the funds to help grow the HOYC into a world wide group of land holdings that had slips you could book in advance for a nominal fee(no property tax for non-profits). We could have our own lobbyists that understand the ICW is a vital waterway that needs to be open without wakes zones.

The only way to crank this up is to use this forum and its member list. I'm not sure how the forum owners/administrators would feel about this but would love to hear from you all. Maybe a meeting is in order. I would not contact anybody to start the process without their approval. If they are willing to give us a heading for this that would help. Then we could start to see how many members would sign up. They could also do a blanket e-mail to all members interested in hull insurance at a fair rate that would eventually get reduced to just about ZERO.

You know if we got a large number of folks we could do this rather quickly and amass a rather large fortune. 10 folks don't work neither does 100 but somewhere between 100 and 1000 the numbers work. And if their are no large claims over the first couple of years we could be bullet proof within 5 years.

Till then.....

[Freebird]

I am gone from this rock in the middle of the Atlantic in 8 weeks, 3 days, 4.8 hours and 27 seconds to retirement oblivion.

Hey Bill, do you have a couch or is there a boat (preferably an older Hatteras) around there in Bermuda I can sleep on? I've got the right shorts to fit in there, I think, and I have never been to Bermuda. I've always wanted to though, so maybe I can get myself together in 8 weeks, 1 day, 4.8 hours and 27 seconds to spend a couple of days there with you.

I'm not sure "Freebird" has the range to make the trip, even on one engine, but maybe Continental goes there. Maybe me and the "jesters" should come visit and give you a farewell party to remember!

Could become part of Hatteras owner's forum history, or the end of civilization as they know it in Bermuda!

Back on topic, I am going to need insurance for my 58 in Florida if Bill or somebody else doesn't snatch it up while I am in la la land. I certainly would love to explore some of the options presented here, but I will have to do something insurance-wise by the end of July. Any suggestions, or would that need to be another thread topic, no offense intended.