Insurance Alternatives

[Pete]

I was taking Bobk's insurance survey thread off topic so I decided to start a separate discussion on renewal alternatives.

I am insured by Gieco through BoatUS. I have discovered that the policy is organized with a base Geico policy, and then Geico adds endorsements to the policy to create a final product offering. Thus, when comparing an alternative to the Geico underwritten policy be sure to read everything attached.

With that introduction, my first question. Is there a agreed to value policy offered by a company that does not include a 5% or greater deductible for "named storms" in the southeast, including North Carolina?

Thanks

Pete

 

[racclarkson@gmail.com]

Pete,

I forwarded your post to my insurance guy. I have pasted his answer below. I hope it helps.

Hi Robert,


Doing well and hope you are.


There is only one carrier in the mid-size yacht market that will offer under 5% storm deductible, they will only write yachts within 15 yrs old, over $150,000, and the yacht must be north of Jacksonville FL from July 15 - Nov 1.


If the vessel is over $2M value and has a full-time captain then we can offer numerous policies with 1-3% windstorm deductibles.


I appreciate you thinking of me and any referral to other Hatteras owners.

Thanks.

Best Regards,

Garrison Rudisill
Maritime Insurance Int'l
843.606.5270 - main office
843.212.0534 - direct line
garrison@maritimeii.com