Insurance...... got kicked to the curb by NMU

[Capt. Tobb]

I was dropped for no reason(that I am aware of) by Nat Marine Underwriters. I have a really hard time getting insurance because of the length(48) to HP(1470) for an 86 hull (Viking). I am looking for any suggestions of companys to get quotes from and general tips for dealing with them. thanks Tobb

 

[MikeP]

Try these folks:

Gowrie Barden & Brett Inc
36 Westbrook P
Westbrook, CT 06498
860-399-5945

Ask to speak to Dawn Speros.

 

[bigbill]

todd, try jack martin and associates, agents name is jon horton. tell him i sent you.. this is where i went when i was dropped by NMU. bigbill

 

[stormchaser]

hat about good old Boat U/S?

 

[Angela]

Tobb, where are you located? That will be VERY important as for your availability to get insurance.

 

[DAlter]

Try these folks:

Gowrie Barden & Brett Inc
36 Westbrook P
Westbrook, CT 06498
860-399-5945

Ask to speak to Dawn Speros.

I second what Mike says....they (and Dawn) are the best..

 

[Jaxfishgyd]

for Ang and me (and lots of others) this is a sore subject..... I was with "ACE" and was dropped when thed decided not to insure any boats in Florida...


And actually, boat/us has become realistic for my boat... 3 yrs ago they wanted $4,800 to insure my boat but last month it was $2,300 for the same coverage.

 

[Capt. Tobb]

Sorry Ang. I am in Biloxi MS....

I did talk to Dawn and she was great, unfortunatly she did not have any domestic carriers that would write anyone who has their boat in MS waters during hurricane season. Unless you take the boat north of Iuka for the season. Iuka is by Tennessee..... She did recommend Boats\US. I am getting quotes from W R Hodgens, BUS and going to call Jack Martin too.

Billy, I remember you warning me about this when it happened to you, ever been to Iuka? lol

 

[lldks]

You mention wanting domestic. We just got ours insured (Texas so also in Gluf waters during hurricane season) with Smith-Merritt Insurance. They used some company out of London and said no one domestic would touch these old boats in our area. Anyone have experience with the London outfit?

 

[Capt. Tobb]

lldks, I was told that I may be able to get coverage out of London too. I would assume that it would be more expensive. Dawn is sending the paperwork for me to get a quote. How did the price compare to your previous policy?

 

[bigbill]

todd, my coverage is out of london.

 

[Capt. Tobb]

Billy, does your coverage from London have bad teeth?....lol How does your new policy compare to the old one?

 

[Angela]

The first year I had the boat, I had a recreational policy in South Florida. The only policy I could get was that one out of London. After reading the policy, boy oh boy am I glad I didn't have to make a claim. After that, I always ask for the policy to read before I decide whether to buy the insurance. After I cancelled that, getting a recreational policy in South Florida was a nightmare, i.e. non-existent on a more than 15-year-old boat. I shopped for nearly 9 months and after hearing no-no-no, I pulled the trigger on a commercial policy instead. Wow...the doors realled opened up when I asked for a commercial policy - I should have done that in the first place! Markel wrote my policy without any hassle.

 

[OBXTucker]

I've only been with Markel American Marine for a few months, but know the team personally. They probably aren't the cheapest, but they're top notch folks.

PM me if you'd like a contact. I deal with one of their senior underwriters who's been with the company over 20 years. He definitely knows his boats.

 

[Capt. Tobb]

Wow! what a way to start the morning.....8,000.00 from BOATS\US 500k liability and 130k "agreed" value (I didnt agree with 130!)...

I will keep yall posted on the other quotes.....Thanks again for the help...

Tobb

 

[Boatsb]

Don't feel bad. A few years back I got a quote for $500k Liability and the most they would agree on ( $50k with an $11K deductible) for $4700. Seems right in line. I went self insured for the hull and the liability is under $700.

 

[OBXTucker]

Sent you a PM with a name and number....hope this helps!

 

[bigbill]

todd,the only difference i see, is the old policy would let me go to florida anytime except in hurricane season, and the new one doesn't want me in florida unless i call and make special arraingements. they told me that they wanted to know the date of the trip so they could check weather activity in the area.

 

[Genesis]

I moved from Boat/RapeUS to Markel for the last couple of years before I sold Gigabite.

I liked the coverage with Boat/US but after Ivan they became entirely unreasonable. A lot of this had to do with some of their customers - some who I SAW leave boats they insured (or so these people told me!) tied up with what amounted to clothes-line, and when they were destroyed, of course they got paid. They thought I'd pay radically higher premiums as a result.

Uh, no.

Markel wanted a written hurricane plan and they actually called me and asked a couple of questions about it before issuing the policy. That is, THEY REALLY READ IT and actually UNDERWROTE my policy. Fancy that. It was both cheaper and better coverage.

I have no idea what the landscape looks like now as I've been out of the "big boat" market for a few years.... my little boat is much easier ("Do you have a trailer for that? Yes? Cool - the boat must be on it in the event of a hurricane - here's a policy.")

 

[Capt. Tobb]

Whoa....check this out! this is a grand less than my last policy and I can go to Florida anytime I want. I didnt see any red flags in the policy either. I still am getting more quotes but this looks pretty good.

Thank all of you for the help..




Dear Todd:



Please find attached a quote and standard policy wording for coverage on your Viking 48 from Great Lakes Reinsurance, a surplus lines company that is rated by A.M. Best A+ (Superior) and is part of the Munich Group, the largest insurance company in the world. This is important as we would not have the confidence in the stability of a small company in the event of major hurricane losses and subsequent claims obligations that we have in a company with such major assets.

The annual premium is $3,785 and does include coverage for named windstorms and hurricanes with double the standard hull deductible.

Thank you for the opportunity to provide you with this quote, and please email or call us at 800-990-9283 if you have any questions or would like to secure coverage.

Please note this is a quote for insurance and not a binder and no coverage is in place. If you wish to start coverage please let us know and we can send the application and secure a binder.

Best regards,
Gloria Hodgens, CPSR
W.R. Hodgens Marine Insurance, Inc.
2015 SW 20th Street, Suite 100
Fort Lauderdale, FL 33315
(800) 990-9283 (954) 523-6867
Fax: (954) 523-6488
Located at Lauderdale Marine Center
www.yachtinsure.com
gloria@yachtinsure.com