Circumnavigation Insurance

[amphibious1]

Aloha Every one
I have been saving my pennies for a long time now and I should
be buying my boat in about a year. I am tying to
get a idea on Insurance coast. I have tried to get some numbers from
insurance companies and they don't want to give me a quote because I dont
have a boat.
So if any one does not mind putting some info out their as to how much
they are paying. it would be a great help to me figuring out a budget.
I am planing on doing a 5 year circumnavigation in a $225,000.00 Catamaran.
I am a USCG 100ton captain and so is my partner. I know their is a lot of factor that change the price but a general ball park will be a great help.
Big Mahalo for you time
Dream Big
Jack

[rebel heart]

You're going to have full coverage or just liability?

I'd ballpark $3K-$5K a year, but I'm really ballparking. Our boat is $60K and we spend $1K/year for full coverage.

[maxingout]

Our Privilege 39 cost about $3000 per year to insure on our circumnavigation. That was liability and hull and machinery insurance.

[kjames]

Originally Posted by maxingout

Our Privilege 39 cost about $3000 per year to insure on our circumnavigation. That was liability and hull and machinery insurance.

Hi Dave, just wondering how that differs in cost and in the type of insurance that you have now, against what the boat is now doing? Cheers

[amphibious1]

Aloha Rebel heart and Maxingout.
Thanks for the info that is a great help. I am looking at having full
coverage as I will have part of the boat financed. That gives me a great
base to play with. Big mahalo for the info.

[maxingout]

Originally Posted by kjames

Hi Dave, just wondering how that differs in cost and in the type of insurance that you have now, against what the boat is now doing? Cheers

Right now the boat is layed up on the hard, and my insurance is not that much different than when I am out cruising. It all depends where I am layed up. South of Brunswick, Georgia is about a thousand dollars more than north of Brunswick, Georgia because of hurricane risk.

[chala]

Some insurance will cover you for part of the circumnavigation but not for all. For some regions they will increase the premium, for other they will stop covering you. You may have pay them thousands of dollars in the previous years just to be told “sorry no cover”. No insurance sometime get a finance company very nervous.