Caribbean Insurance

[hpeer]

Originally Posted by sailorboy1

I got a quote from the above at about $2100 for $100,000 hull insurance. They have been the least expensive so far AND so far the only ones that allowed you to be in "the box" during hurricane season and covered named storms.

But here is a new "funny" doesn't cover in the US, just the Bahamas/Caribbean.

Sailorboy,

Did that include liability and if so what limit?

We had an approximate $3,500 quote on $100,000 hull with $500,000 liability.

Given we are steel and $100,000 is very likely too much I’m seriously considering going liability only quoted around $1,350 for $500,000 and &1 million for about $1,650.

I figure my greatest danger is not to loosing my hull but to destroying a high value boat in the process. Would not take much for me and my 5’ bowsprit to do a lot of damage.

[sailorboy1]

Originally Posted by hpeer

Sailorboy,

Did that include liability and if so what limit?

We had an approximate $3,500 quote on $100,000 hull with $500,000 liability.

Given we are steel and $100,000 is very likely too much I’m seriously considering going liability only quoted around $1,350 for $500,000 and &1 million for about $1,650.

I figure my greatest danger is not to loosing my hull but to destroying a high value boat in the process. Would not take much for me and my 5’ bowsprit to do a lot of damage.

It included $500k liability. It was from Massy

[hpeer]

We ended up going with Gowrie. Massey had a much lower quote but excluded Columbia, Cuba, DR, Haiti and Mexico. But included Panama and Belize. ???

[sailorboy1]

Originally Posted by hpeer

We ended up going with Gowrie. Massey had a much lower quote but excluded Columbia, Cuba, DR, Haiti and Mexico. But included Panama and Belize. ???

That's interesting. If it was the Jackline Program from Gowie (IMIS) the quote they send me was 40% more than Massey and I couldn't even be "in the box" which included Florida during hurricane season. It was basically useless for me and was less coverage than my current policy at twice the price.

I think the people coming up up the quotes are really hanging at the bar drinking and tossing darts at the "quote this boat" board.

[hpeer]

We had Jackline but I’ve decided to go liability only. A 34 year old steel hull just ain’t worth much. We have done a lot to make it fit US, it would be hard and expensive to replace. But that just does not map to hull value.

I upped the liability to $1 million because it was not much more and I can see spearing a big catamaran and doing that much damage. 5’ stainless steel bow sprit.

[sailorboy1]

Well even though i told Massey i planned to spend hurricane season in Luperon DR and they quoted me a policy, they don't cover the DR

[hpeer]

Yeah, I don’t get that at all. It seems they, insurance agents in general, don’t rad what we write.

They don’t cover Columbia either. ????

[billos]

I'm also in the market for insurance in the Caribbean and I've found this thread really helpful!


Does anyone have experience with insuring a non-US flagged boat (not sure if it makes a big difference)?


Also, has anyone used HELVETIA as an underwriter? They seem reasonably priced at about 2% of the boat value and they offer coverage (with some extra restrictions) between 10º and 15º during the hurricane season.


And what about Pantaenius? I received a quote significantly more expensive without coverage above 10º for the hurricane season.. why would anyone use them?



Thanks!

[Nicholson58]

Originally Posted by Nicholson58

Geico in the Caribbean. Sailing Trinidad to Puerto Rico and Bonaire. We were canceled by Lloyd’s after their big losses two years ago. Our independent agent found Geico for less. We have always had to be out of the hurricane zone in season. June through November we are on the hard in Trinidad at Power Boats. If you stay aboard and are willing to run south for named storms you can sail up the windwards and Leewards. Most of the coast of S America from Panama south is out of the zone.

This has changed for us since Geico dumped the Caribbean

We are now insured with ANJO in Antigua. Decent reputation and less than half the cost of Jackline. We are permitted to store on the hard in Jolly Harbor. All boats are tied down and the stands are welded together to make a de facto cradle.

Coverage is all of the Caribbean except Venezuela, Cuba, US. And I think DR and Columbia are out.

ANJO is a Massy company

[RickG]

Offshore Risk is brokering policies for Caribbean through https://selecta.re/. It is Russian, registered in Nevis, and backed by AIG. They were cheaper than Concept, but we did not choose them as we did not know anyone who had a claim with them. One of our experienced friends in the USVs is covered by them. Selecta does not offer coverage for CONUS.

Cheers, RickG