Hatteras Owners Yacht Club

[eze2bme]

I am starting a new thread on this topic as I believe that there are members of this forum that would like to belong to a yachting association specific to their Hatteras yacht ... even if there is no other benefit than to fly a club burgee dedicated to Hatteras.

I have seen the previous threads relative to a HOYC, but most replies were about insurance and the need to have a large number of members to qualify for the discounts. Don't get me wrong ... I'd love to see lower rates ... but the momentum seems to have ebbed on that topic.

Any ideas on just starting a social organization where we could publish an occasional newsletter about interesting cruises and great places to cruise to?

Just a thought for the new year.

 

[Passages]

I though SAM's, through this forum, provided our virtual Yacht Club. All we need is a burgee.

I still think a a brand specific insurance consortum is a good idea. One open to not only Hatteras, but other classic quality brands such as Bertram, Viking, Post and pre 1985 Chris Crafts.

 

[Jaxfishgyd]

A Sam's Marine Hatteras Burgee!!!!!!!!!

I can fly it proudly while wearing one of the t shirts I got from them!!!

 

[eze2bme]

Maybe we should start a design competition for a generic Hatteras Yacht Club burgee if SAM's doesn't have one already.

 

[J's Dream]

A Sam's Marine Hatteras Burgee!!!!!!!!!

I can fly it proudly while wearing one of the t shirts I got from them!!!

I brought this up to Doug at FLIBS, and he said that it was a great idea, and he'd get started on it the first part of the year.

I know I'd want a burgee, or a flag to represent our classic boats and this forum!

 

[Genesis]

Hell, I'd buy one, and I've sold my Hatt.

But I'm quite sure it won't be my last Hatt.......

 

[bobk]

I still think a a brand specific insurance consortum is a good idea. One open to not only Hatteras, but other classic quality brands such as Bertram, Viking, Post and pre 1985 Chris Crafts.

I have a lead on an agent who worked out an insurance plan for cruising sailors (who couldn't get insurance anywhere else) and plan to call him on Monday to see if he might do anything for Hatt owners. Can someone provide an estimate on how many owners might become his clients?

Bob

 

[Freestyle]

Insurance

As a lawyer I represent a group that puts together "captive" insurance companies. A capitve is a group of insureds who pay their premiums to an insurer that they own (the "Captive"). The captive then lays off the coverage in the reinsurance market using the unique actuarial data available for the insureds to lower the reinsurance cost. There is also significant cost savings because there are no Super Bowl ads, etc. The hook is that premiums accumulate in the captive and have less payouts than claims made thereby the captive constantly decreases the premiums owed by the insured owners.

I floated the 'get started' question and got a quick $10 milliion in insured value or a million in premiums. I do not know how eral these answers would prove to be but it is a start. At $5k annually per $100k insured value (in Florida) it doesnt take too many boats. (approx 200)

The underwriting criteria from this relatively anal group could be restricted enough to really impress a reinsurer. I would have to pick up my game to get in.

Bruce
Freestyle
1976 43 DCMY
Tampa

 

[drburke]

I think both things, an Hatteras Owners Yacht Club and preferential insurance, are really great ideas. My boat is not high value, and I live on the west coast, but I would join this insurance group even if it cost a few more nickels just to help distribute the financial risk geographically.

BTW, Bruce, is "relatively anal" a legal term? I am unfamiliar with it...

DAN

 

[bobk]

Insurance

As a lawyer I represent a group that puts together "captive" insurance companies. A capitve is a group of insureds who pay their premiums to an insurer that they own (the "Captive"). The captive then lays off the coverage in the reinsurance market using the unique actuarial data available for the insureds to lower the reinsurance cost. There is also significant cost savings because there are no Super Bowl ads, etc. The hook is that premiums accumulate in the captive and have less payouts than claims made thereby the captive constantly decreases the premiums owed by the insured owners.

I floated the 'get started' question and got a quick $10 milliion in insured value or a million in premiums. I do not know how eral these answers would prove to be but it is a start. At $5k annually per $100k insured value (in Florida) it doesnt take too many boats. (approx 200)

The underwriting criteria from this relatively anal group could be restricted enough to really impress a reinsurer. I would have to pick up my game to get in.

Bruce
Freestyle
1976 43 DCMY
Tampa

$5K/$100K sounds pretty dear. Is this what boats in Florida are paying?

Bob

 

[Boatsb]

5K per 100 is a bit lower but still out of the range I will go from self insured to full coverage. Thats 5% of the value of the boat each year. I believe the 5% invested would pay for the boat in 15 years or less. Probably far less if invested right.

 

[mike]

FWIW, insurance costs for a 1972 53' Hatt MY in Calif is going for about 1% per $100k of insured value.

 

[hatterasboatguy]

I would like to get back to the club idea..I am ready to sign up! We need something like this on the west coast!!!
Jim

 

[Dustoff44]

Texas / Gulf Coast insurance is about 2% or $2650 per year for $150,000 agreed value with wind coverage and 5% deductible.

 

[Freestyle]

$5k per $100k

I can't tell the truth even when I try.

I just pulled my Markel bill and it is $3617 to insure $109k hull value with 3% deduct other than windstorm which has a 5% deduct.

They will drop to $1760 if I drop windstorm.

So it would take quite a few boats to form a captive if we have to hire legal and actuaries. If the forum has any actuaries and persons who can place reinsurance. I would like to discuss maybe putting this together on the cheap as sort of acontribution to our little community of people dedicated to making old plastic float.

Bruce
Freestyle
1976 43 DCMY
Tampa

 

[mopester]

this is what happened to the marina/club thread last time.
it went off about insurance.. Wich is a great topic to discuss but what about the marina/club.

How many would you have, maybe four different regions. norhteast/southeast/norhtwest/southwest ??
Or different conitinents. We do have members all over the place.
and other than having a hatt what other criteria would you want.

I was in the last time this thread started. I am in for one of those sams/hatt burgees

 

[NAN-PO 41]

mopester is right. This thread seems to turn into a thread on insurance. Lets start with a Hatteras owners yacht club and maybe we can expand from there. I would suggest we start with one base and if there is enough interest we can add geographical divisions at a later date. ( add other quality brands of boat later, there is strength in numbers ) Lets start with a sign up sheet and see where it goes from there. Who knows maybe discounts and other perks for members can come out of this if the numbers will warrant.
Fred

 

[MikeP]

I'd be interested in the club. But the insurance prices I have seen mentioned so far are dramatically higher than what I pay now for 300,000 worth of hull insurance through Gowrie, Barden, and Brett. I'm sure the location is the issue pricewise - my current policy covers our 53MY on the East Coast down to (and including) NC. Anything south of that would require re-writing.

 

[Pascal]

i think that this forum would be the core of any Hatteras club and while there are some owners who not be using the web, i'm not so sure these woudl be actively taking part in a non web based club anyway.

overall the trend for clubs is to increase online activities and reduce traditional newsletters, printed rosters etc... especially when membership is spread out over the country. it reduces cost and most importantly the amount of word needed to run the club.

 

[nyrussell]

OK, club first, where do we sign up? Dues etc....? Then insurance/towing etc can be handled. As for the Burgeee, why not?

Noel