Boat insurance with no boat experience?

[DeviantM]

hkkelton oh? good to know, we will go check out that boat safety course. thank you.

sailorboy1 thank you.

kentobin, we will be liveaboards as well so far non have asked about currently having insurance or previous insurance. Hope we dont run into additional issues.

[Cotemar]

DeviantM,

Here is a few insurance companies to try.

IMIS (International Marine Ins. Services)
110 Channel Marker Way, Suite 200
Grasonville, MD 21638
Fax 443-926-0580
e-mail SusanW.IMIS@gmail.com
IMIS Customer Service: 410-827-3757
----------------------------
Bill Hodgens - WR Hodgens of Marine Insurance Inc.
---------------------------
Susan Everhard - Global Marine Insurance Agency.
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Kolisch Marine Insurance
1020 Bayamo Avenue
Coral Gables, FL 33146
Joe Kolisch e-mail: joe@kolisch.net phone: 888-666-2250
Bill Porter e-mail: bill@kolisch.net phone: 888-666-2250 ext. 2
Fax: 305-424-9358
kolisch
----------------------------
Kent Urbine
The Pegasus Group
1350 County Rd. One#270
Dunedin, FL 34697
336-280-4312 Phone
336-510-9442 Fax
thepegasusgroup@outlook.com Email: KentThePegasusGroup@outlook.com
Caribbean|Florida|Yacht|Insurance|Boat|The Pegasus Group

[pdxgrl33]

We're exploring the liveaboard option, as first-timers. My husband took the state approved/required marine course and he has probably 5 years of boating experience/ownership. But, I am initially finding some resistance to insurance. We're presently looking at an '88 37' Chris-Craft. It seems that the mention of liveaboard is a problem, as well as some resistance to increasing the coverage on personal items. We're in Oregon and insured with Safeco for auto and home. Any input would be welcome. Thanks!

[pcmm]

Originally Posted by pdxgrl33

We're exploring the liveaboard option, as first-timers. My husband took the state approved/required marine course and he has probably 5 years of boating experience/ownership. But, I am initially finding some resistance to insurance. We're presently looking at an '88 37' Chris-Craft. It seems that the mention of liveaboard is a problem, as well as some resistance to increasing the coverage on personal items. We're in Oregon and insured with Safeco for auto and home. Any input would be welcome. Thanks!

Initially you are "cruising" as it likely during the first few months you will be using the boat to visit alot of anchorages and other marinas, correct?

I never understand why "livingaboard" is a problem for insurance, if anything you should get a break as you're on the boat all the time
and are more likely to be around and protect it from fire/sinking/theft!!

[pdxgrl33]

Originally Posted by pcmm

Initially your "cruising" as it likely during the first few months you will be using the boat to visit alot of anchorages and other marinas, correct?

Initially we'll be docked in a Marina, as we're still working full-time. This would be our first liveaboard, so we're in the research and education process for this lifestyle change. I'd heard that insurance can be tricky for liveaboard. Just seeking input from those who are living it. Thanks!

[DeviantM]

Thank you Cotemar

[Trellis bay]

Try off shore risk management ..ORM..Theresa McNeill...we have a new to us boat in the bvi...40 ft..and little experience..

[DeviantM]

Thank you Trellis Bay

[thruska]

Thanks DeviantM for posting the thread.
Insurance companies have some strange and asinine questions and policy. But they're playing the odds on statistics. Statistics can be made to work both ways. Lawyers know that.
Rv insurance is similar to boat insurance. As soon as you mention full time they flinch and jack your rates. All kinds of new questioning arises. They invent new charges, it's called "creative billing".
We've run into the same issue. Regardless of certifications and experience agents will balk at coverage.
First off we found that we can ask the agent what their length of experience is at writing boat insurance. That narrows the field quickly. You want somebody with experience. You can also try to reason with the agent . ��
All in all , it depends on where you live, where you are going with your boat, how long are you going to be there? Whether you are in hurricane zones in hurricane season really puts a kiabosh on terms and rates. If it home built , OMG ! And size matters.

A question I have is: has anyone ever gotten two insurance companies for coverage overlapping. My dad used to do that in the family business. He would get two companies to get the actual worth coverages when one company would not insure full value. For instance , when you are working with small town mutual companies. Just curious...
Thanks

[DeviantM]

TY Thruska, good tips. We will be doing well to get 1 insurance company lol but thats not a bad idea.

[thruska]

Originally Posted by DeviantM

TY Thruska, good tips. We will be doing well to get 1 insurance company lol but thats not a bad idea.

I'm sure we can find some reputable agents. Just as we should be able to find a reputable lawyer. Of course that being said , the word reputable now gains several connotations. Ouch !

I've had a bad experience with Prgressive on a violent ungrounding incident by Seatow. Now Seatow is also insurance. Argued with progressive, went thru the 'are you living on the boat' thing with them. Under the table dealings with Bennet boat repair and adjustor. Had four adjusters involved , two surveyors hired by ins(bad sign) they said our boat was not seaworthy ! Our surveyors argued the point and showed several outright lies and mistakes . Arbitration was declared. Progressive gets to walk from arbitration leaving us sit. The law works for them not us.
And a good experience overall with Allied/Nationwide in an rv claim. They started with we will give you a check and you can take where you like. I said where is your approved repair facility ? Glad I did as the actual claim was over 5000 difference ! I'm not kidding.

Oh the humanity !

[Jim Cate]

From a different point of view: I would not particularly want to be insured by a company that would insure new, inexperienced owners of large boats. that attitude means overall greater claim rates, and thus higher premiums for everyone, including the skilled folks who are not likely to generate many claims.

Similarly, I would avoid companies with large exposure in the Caribbean. Those pictures of boat soup in the leeward corners of marinas and anchorages loom large in my memory... someone has to pay for all those claims, and IMO it shouldn't be someone who leaves cyclone areas in the season in order to reduce risk to boat and crew.

Rant over.

Jim

[thruska]

Originally Posted by Jim Cate

From a different point of view: I would not particularly want to be insured by a company that would insure new, inexperienced owners of large boats. that attitude means overall greater claim rates, and thus higher premiums for everyone, including the skilled folks who are not likely to generate many claims.

Similarly, I would avoid companies with large exposure in the Caribbean. Those pictures of boat soup in the leeward corners of marinas and anchorages loom large in my memory... someone has to pay for all those claims, and IMO it shouldn't be someone who leaves cyclone areas in the season in order to reduce risk to boat and crew.

Rant over.

Jim

I can't imagine insurance companies regularly divulge how many and what kind of boat and boaters they insure.
As far any large exposure numbers in Caribean, I'm sure the bean counters watch those numbers closely.
Incidentally, I suspect the points you make are certainly taken into consideration by insurers. Thus the exorbitant rates for some newbies in large or small boats wherever they are located.
Gee I'm surprised we don't have some retired agents piping in here on policies of policies. .??

[Malcolm66]

Different insurers take a different view of the risks they wish to take. All have actuaries working out premiums for different risks and then they offer better rates for their selected target market hence the huge differences in premiums between companies for exactly the same risk. There are companies that are happy to take on Newbies and as they gain in experience and hopefully do not claim they will earn no claims bonus's which will then bring their premiums down. Everybody has to start somewhere.