Purchasing insurance

[captjeanette]

We are preparing our boat to go cruising - again. Has been on the hard for better part of a year undergoing major retrofit. As the boat hasn't been in water or been used much we decreased the insurance to the bare minimum. Now that we will be leaving again in, hopefully a month or two, we are looking for recommendations on boat insurance. How much to buy? What kinds of coverages? Any recommendations on companies? We plan to sail the carribean and down to South America for starters.

Thank you for any help you can offer!

Capt. Jeanette
s/v Phantom D
lying St. Maartin

[osirissail]

Many CF threads on this subject you can search. But basically, if you have a boat loan, you need insurance and one of the many reputable agents is http://www.imiscorp.net/ in Annapolis. They specialize in insurance for cruising couples ("Jackline") and also have other lines of coverage available.
- - If you own the boat with NO loans on it, you can opt for "Liability Only" which will satisfy boatyards, marinas, etc. that require coverage before you can use their services. But you must be willing to accept the monetary costs of any damage to your own boat.
- - Check the previous threads for links to European insurance brokers for cruisers. Depending upon whether you plan to do any USA cruising or not the coverages may be better priced and have fewer restrictions.