Insurance issues

[Coombsy]

Hi All, I have just purchased a yacht in Annapolis MD, its currently on the hard about to undergo a refit, I live in Australia but also have a US postal address, I'm having difficulty obtaining liability insurance, companies keep stating that its because I'm not a US resident?? I have a current survey, any advise would be appreciated
Cheers

[RaymondR]

Don't tell them you are Australian??

[old frog]

Misrepresentation of facts at policy application might just void your policy in the event of a claim.

From the outside looking in; perhaps the insurance underwriters are concerned about insuring something that: 1. Is being worked on by contractors/sub-contractors. & 2.Has absentee ownership (in other words, who is keeping an eye on things & checking on the boat, making sure things are maintained, checking so that parts/components do not go missing, etc.).

Whose care, custody & control is the boat in? Does the the service vendor doing the "refit" have full care, custody & control? ( Ie. Their marina, management, & employees, & true sub-contractors?). If so, perhaps your might have coverage, or can add coverage to their policy, to cover the boat until the work is done. But, if it is the typical area situation where one entity owns the marina, charges for the storage, & one or multiple tenant or nearby service vendors are working on the boat with multiple service vendors having access, things get a bit more complicated as there is no clear clear care, custody & control.

Perhaps if you retained a local "manager" or "caretaker" to maintain & check on the boat in your absence, the prospective underwriters might reconsider.

[Bean Counter]

Non US citizens have difficulty getting boat car health etc insurance. They usually want your social security number. There are some agencies that claim to be able to do this for you, I have not found one yet that actually answers an email. There may be a more complicated way by having the ownership through a company based in Delaware - but that has its issues too. If you are Australian then you can not be the registered owner of a US flagged boat (ie a documented vessel with the Coast Guard), you will have to change it's flag, Australia is the easiest to do in your case, not the cheapest but easy enough to do.


You can take out cover with an Australian insurer such as Pantaenius or TopSail just call them. Depending on where you want to take it, the insurance will be expensive in USA/Caribbean and much cheaper in the Med. Whether you can just get liability insurance (for purposes of the Marina, I do not know)

[Coombsy]

Thanks for the response, A bit more info, I have registered the yacht in Maryland MD in my name with a Annapolis address
Cheers

[old frog]

The broker through whom you purchased the boat and the surveyor you used should have contacts in the industry and be able to assist you.

If not, the Bean Counter's suggestion to try Pantaenius is is spot on. Scott Stusek, is in that area & is experienced. annapolis@pantaenius.com

Another suggestion is Morgan Wells, Jack Martin & Associates in Annapolis. Morgan is a seasoned agent & sailor. morgan@jackmartin.com

[pcmm]

Pantaenius doesn't offer liabiity only insurance in the U.S. any longer (or at least that's what they told me last fall)

[Almost-There]

I'd check into doing it through a company in Delaware. I know quite a few who've done it without a problem.

[Dsanduril]

Do you want the liability cover for just the US or for more global cover?

If just the US, what companies have you tried? BoatUS/GEICO does liability cover inside the US and they've never asked for more than address and boat details. Never been asked about residency/citizenship (but then I also wasn't really looking/concerned about it).