Insurance

[BlackPearl36c]

Not trying to spam here but thought I might be able to help some ppl out in these tough times. I have a new market through an A+ rated admitted carrier for older vessels and thier rates are supposed to be very competitive with few restrictions other than North / South seasonal restrictions and survey.

If anyone is interested please PM me as i dont want to put too much out here just wanted to give you guys a heads up.

If youd rather me not post this stuff please just delete this and sorry.

 

[J's Dream]

Post it here. Positive references are encouraged, and help others make informed decisions. I certainly would like to know of any insurance companies that will cover more than liability.

 

[Angela]

It seems insurance for Florida, South Florida in particular, has loosened up lately. Until this year, it was very, very difficult to find insurance at all, and when I did, it was over $10,000/year. However, THIS year, I found a new company and cut that premium in half, while still getting an Agreed Value policy, tripled my liability, named storm coverage, etc. on this 30-year-old boat.

It seems like this hurdle is getting a little easier to jump over, probably right up until we get whacked by a storm. Go get it while it's still out there to be had!

 

[bobk]

It seems insurance for Florida, South Florida in particular, has loosened up lately. Until this year, it was very, very difficult to find insurance at all, and when I did, it was over $10,000/year. However, THIS year, I found a new company and cut that premium in half, while still getting an Agreed Value policy, tripled my liability, named storm coverage, etc. on this 30-year-old boat.

It seems like this hurdle is getting a little easier to jump over, probably right up until we get whacked by a storm. Go get it while it's still out there to be had!

Ang, Who is the carrier?

Bob

 

[Angela]

Seaworthy is the carrier - a BoatUS affiliate, and A+ rated company. I have a local agent here who hooked me up with Seaworthy. I think Seaworthy is basically BoatUS's commercial carrier (charteryachts), and that BoatUS still handles the recreational policies. But it's worth asking. If you don't ask, the answer is "no" for sure. BoatUS insurance, itself, won't cover commercial usage. I'm commercial, so this was a real blessing for me. One tidbit of advice...if you have a boat that goes "fast", you won't find any savings in the premium. Think...trawler...if you sort of are one.

 

[BlackPearl36c]

Travelers is actually the carrier. They started an older yacht division and the rates we have been seeing have been quite competitive.

Ang. BoatUS's market is not bad but from what I have heard it can be real hell trying to get paid by them in the event of a substantial loss. We had a client who was insured with them on a 2007 53 ocean that was struck by lighting and burned to the waterline they denied the claim due to poor mooring location (behind his residence).

Now I have also head the opposite as well saying they are great a gentlemans 20k tender was stolen and they wrote him out a check before he even sent them his purchase agreement with the value on it.