Bahamas Insurance or Rider

[sailjumanji]

We are crossing to Bahamas next year. Current plan is to be there April and May, and possibly week or two in June. We have Farmers/Foremost boat insurance that covers Bahamas for 30-day period only, although we could cross in and out and reset the period according to them. That's not really feasible from the Exumas. Looked into other insurance policies, and a couple needed a survey less than two years old, which I don't have and not worth the effort to get just for this. Boat is insured for $150k. Do any of you know if there are companies that would sell a policy for the period in the Bahamas. I would really only need 45 day extension to my current coverage. Foremost does not offer that.

[sailjumanji]

No ideas? Anyone know of a company that just sells insurance for Bahamas? Or another alternative.

Also, for the Foremost "reset" of the Bahamas period, I need to sail outside of Bahama territory. That would be how many miles offshore?

[keepondancin]

Have you tried calling the insurance company directly, and ask for the marine underwriter and state your case, including a sailing resume and cruising plan? Worked for me some years ago for where the boat could be in november, before the end of hurricane season.

[sailjumanji]

Foremost is marine insurance arm of Farmers. My Farmers agent suggested they contact Foremost and ask, as they were concerned that Foremost might have concern about an extended stay in Bahamas, and just decide to cancel the policy rather than take the risk. I don't know whether right or wrong. The premium for the base policy is pretty good, so I don't really want to risk being cancelled by Foremost.

[svHyLyte]

As a practical matter, there is no more "Risk" to a yacht in the Exumas than there is in south Florida at the same time of year. We are home ported in southwest Florida and our $100K plus Agreed Value policy, issued by (formerly) Seaworthy/(now) Geico Marine Insurance (AM Best's A+ rating) covers us from Maine to Brownsville, Texas, including the Bahamas through the Turks and Caicos at a very affordable rate, roughly 2/3rds the cost of coverage we previously had from Markel. I suggest you take a look at switching your coverage. I suspect that, if Farmers, a reasonably conservative company, is covering you already, the Geico coverage could be obtained quite easily and may give you some savings as it did us.

FWIW...

[sailjumanji]

My other challenge is that everyone I have contacted for new insurance wants a survey that is less than two years old. Boat is a 2002 model, that we purchased in 2006. I have a survey for then ($170k), but none since. Foremost insured starting three years ago without survey, but limited the value to $150k. I've done extensive work getting ready for cruise next year - new electronics, all standing and running rigging replaced - and outboards are only three years old. I don't have anything to hide regarding a survey, but I am currently in Texas, the boat is part-way to the cruising grounds being stored at a friends dock in Alabama, we are in the middle of a move having just retired, and we are planning to leave for cruising in mid February. It would be a big huge PITA to go to Alabama and have boat pulled just for survey. (I will do it next summer, when it comes out for bottom paint.)

Would love for someone just to sell me a rider.