Insurance for Caribbean?

[Roniszoro]

I'm considering sailing to the Caribbean for the winter of 2021-22, but GEICO/Boat US, my current insurer, won't write coverage. They have told me they no longer write policies adding/including the Caribbean.

Can anyone recommend a broker or company I can approach? It is never to early to start planning. Thank you in advance for your inpiut.

Captain Ron

[bstreep]

Ron,

I'll run you thru what we've gone thru. And if you find someone (decent), please let us know.

We have a 1990 model boat. EVERYTHING is 2 years old or less. We spent $250K of (mostly) insurance company money rebuilding after Harvey. They should have totaled the boat. But the damage was nearly all cosmetic, except that since the neighbor's rig came through our rig, and the stern ended up on the finger pier, a lot of money was spent making sure everything was OK. Keel and rudder dropped, rig removed, rerigged, etc. Add $55K in paint, and about $40K in storage fees, it gets up there in a hurry.

We received 2 quotes. One from a notorious company that's well documented to be quite difficult when there's a claim. Another, nearly identical company out of Central America.

Basically, because of the boat's age, nothing is covered over 20% of its replacement cost. Doesn't matter if the standing rigging is new (it's new rod), it's depreciated 10% a year, based upon the age of the boat. The only real coverage appears to be if the boat is a total loss.

We might still go next year. But it's likely that we will go with liability only. Let us know what you find.

[Roniszoro]

QUOTE: "We received 2 quotes. One from a notorious company that's well documented to be quite difficult when there's a claim. Another, nearly identical company out of Central America."

How about some company names? While well intended, this doesn't help much without names. But I am sorry the trouble you had.

Captain Ron

[hlev00]

We use Chubb marine, formerly Ace. When we went to the Bahamas we asked for and received a rider allowing for the offshore distance and the region of The Bahamas. We could have extended it to the Caribbean. I don't recall the cost of the additional premium. We did have to be north of Florida by June 1. We use a friend that has a marine insurance brokerage and boat documentation firm near Boston - Admiralty Insurance - 781-721-5500. The owner is a sailor.


Harry

[stulk75]

I have a commercial policy that includes general liability, medical, Uninsured and hull damage through http://www.offshorerisk.com/

I’m limited to the waters of the Caribbean except Cuba Haiti and maybe one other locale. 250 miles offshore.

It was less than my prior policy that only covered the triangle in the Virgin Islands from Anegada, Puerto Rico and St Croix and a 25 mile limit.

[Ahawk52]

I have been having the same issue. After months of searching I was able to place coverage and get the bahamas extension. I have a 22ft boat with a single motor. Reach out to:

John Nelson
Insurance Specialist of SW Florida
12780 Trade Way Four, Suite 108
Bonita Springs, FL 34135
Office: 239.949.7717
Fax: 888.334.6454
John@fl-ins.com

[Jorgel8375]

This is and Old topic, but I'm having the same problem with Insurance going to PR. I got the Bahamas and Caicos extensions but seems that no insurance covers the DR and PR waters.
I can get Insurance once in PR but not to get there. Wonder if anyone knows of an Insurance company that covers those areas.

[Roniszoro]

Try these folks as they insure participants in the Salty Dawg Caribbean Rally:


Morgan Wells
Vice President, Agent
Your partner in a changing world
Jack Martin & Associates | 135 Old Solomons Island Rd. Annapolis MD 21401
Office: 410-626-1000
Morgan.Wells@jackmartin.com |jackmartin.com




HANHAM INSURANCE AGENCY
Yachts, Boats, Marine
Mr. Hugo Hanham-Gross
T: +1 843 410 2990
E: hugo@hanhaminsurance.com
W: www.hanhaminsurance.com

[Nicholson58]

This post is lo still identical to another about a month ago. Do a bit of research.

We use ANJO purchased through an agent in Jolly harbor Antigua. They cover the Caribbean only. It was the only affordable option for our large old boat. ANJO is a Massy company.

[Roniszoro]

I believe that ANJO has a good reputation. When I spoke to them they would cover me in the Caribbean, not on the voyage down. So that would need to be explored/addressed.

[Nicholson58]

See if you can get a one-way transit ridership from Geico or others. Go direct, not through a broker.

Consider making the transit in the Salty Dawg rally in November. https://www.saltydawgsailing.org/

They offer lots of help, weather routing, communication, tracking and in the end, good community. We did the 2016 rally and have remained members. We were greeters in English Harbor, Antigua as the boats arrived last November.

A nice shake down might take you to Hampton, Va where they officially start or you could depart anywhere on the coast and join the rally. Island hopping from Miami up wind will take a long time. Our transit was 1500 miles, 7.5 days.

[EngineerRetired]

If the current insurance trend continues the manufactures are going to have to go into the insurance business, or sell a lot fewer boats.

[Nicholson58]

Originally Posted by EngineerRetired

If the current insurance trend continues the manufactures are going to have to go into the insurance business, or sell a lot fewer boats.

Some company will always come to the trough. The big difficulty is boats over X years and boats over X feet. We unfortunately have both strikes. We survey well, in good condition. Survey always notes ‘Well found boat’.

After leaving the Great Lakes we had three annual carrier changes. These ‘dopes’ carried many boats in the storm areas without an extra hurricane rider. Our coverage specifically excluded us from the zone so we hauled in Trinidad.

Pantaneous. Cancelled, no Caribbean.
Lloyd’s, they dropped the Caribbean after losses from 2017 season, Maria
Geico, dropped the Caribbean after Boat US acquired them.

Now ANJO - third season. They are less than any of the previous three and about half of the Jackline quote. They also allow storm season layover in selected yards. We are really hoping for Trinidad to open. We feel very safe there.

You might gather, we have not sailed back to the US since 2016. We are in the US June - November. Many cruisers do this. Some also stay through the summer and take refuge and a dock with power and AC. You just race south if a storm track comes your way. Usually, 50 to 70 miles south of the track is enough. We have several cruising friends in St Lucia, Rodney Bay marina and several at various marinas in Grenada.

Hope to never test with a claim.

[Jorgel8375]

Thanks All
I'm currently insured with Geico, they cover me for US Waters to Bahamas and Turks and Caicos. Nothing south of that. I'll contact ANJO, they seem to be the better option at this time.

Thanks