Insurance dilemma

[nhschneider]

We also have Pantaenius as our insurance carrier though we've never filed a claim. When we were in Whangarei, we met a couple who had lost their rig en route to the Galopogous from Panama. They were able to make it back to Ecaquador and even though it took a year-and-a-half to get everything resolved, they didn't blame Pantaenius but rather Equadorian Customs officials. Pantaenius covered all their living expenses during that time and when the new mast and all the parts were ready to go, Pantaenius sent over two riggers from England to make sure everything was done right.

Pantaenius might be higher price (but if I complain loudly enough, they'll often lower the premium), however, I feel it's a good value.

Fair winds and calm seas.

[S/V Alchemy]

Originally Posted by GordMay

The company that later became Concept was incorporated in 1969 as A.K. RUMBOLD (HARROGATE) and kept that name until 1989, when it changed its name to T.L. DALLAS (MARINE) LIMITED, which in 1997 changed its name to T L DALLAS (SPECIAL RISKS) LIMITED, which in 2008 changed its name to Osprey Special Risks Ltd, then in 2013 changed again to Concept Special Risks.

Truly, you are the Pai Mei of Google-**, Gord.

[Tom1340]

Thanks to all for responding to my initial post.
I have obtained a quote from Pantaenius and a copy of their policy. All looks quite good and I would like to go with them...BUT there is one problem. They have rejected my Named Storm Plan. My practice is to haul the boat into Harbortown Boatyard in Ft. Pierce, FL, and leave it on hard for hurricane season. The boat is on jack stands, which are secured together with chains, and the boat is secured to ground by 4 heavy web straps tied to earth anchors. While this level of security has impressed me, Pantaenius says they will approve on hard storage of monohull boats in Florida only if they are in a cradle.
My boatyard does not offer cradles. I've seen a few cradles in the caribbean, but I don't recall having seen them in Florida.
Questions:
1) Does anyone know of an east coast Florida boat yard that offers cradles.
2) If your boat is in Florida and is insured with Pantaenius, what do you do?
Thanks, Tom

[Andy73]

Originally Posted by Tom1340

Thanks to all for responding to my initial post.
I have obtained a quote from Pantaenius and a copy of their policy. All looks quite good and I would like to go with them...BUT there is one problem. They have rejected my Named Storm Plan. ...

2) If your boat is in Florida and is insured with Pantaenius, what do you do?
Thanks, Tom

Without trying to hijack the thread, what do acceptable storm plans usually say? Obviously there are alot of people in the florida area with boats who don't take them out of the water...

[Dulcesuenos]

Pantaneus was ok, Boat US smokes crack. , Novamar rocks!

Sent from my LG-LS980 using Cruisers Sailing Forum mobile app

[Tom1340]

I looked at the options suggested on this thread.
Pantaneus was my favorite. Very responsive company, competitive rates, reasonable policy language. But they will not accept jack stands for storage in Huricane season in Florida. I tried, but I can't find any yards within 150 miles of my area with cradles.
Novamar was ok. Unlike Pantaneus and BoatUS, they are a broker who offer products from a variety of underwriters. They were good to talk to, and offered a competitively priced policy. But they were slow to respond to my questions (my 30 yr old boat was probably a low priority for them). The policy they offered would not cover single handed sailing after sunset and it was from a foreign underwriter (UK). I don't sail after sunset intentionally, but it happens. So I passed.
I went with BoatUS. Policy language is very straight forward and they have an execellent reputation for claims settlement. They cost 50% more than the others. I'll look further next year, but I ran out of time this year and had to either commit or go w/o coverage. Thanks to all who responded to my original post.

[Pau Hana]

There are options to Boat US for domestic coverages that cost significantly less.

I find it interesting the exclusion about sailing singlehand after sunset....

[Lepke]

Try: Boat Insurance.
They're in the US Midwest and do other types of insurance, too. Their marine insurance seems to be competitive.
They do big old wood boats, too.

[Pau Hana]

Originally Posted by Lepke

Try: Boat Insurance.
They're in the US Midwest and do other types of insurance, too. Their marine insurance seems to be competitive.
They do big old wood boats, too.

Hagerty is excellent in the Classic Boat category (old, restored wood. aluminum, and steel boats); their coverages are not competitive at all for non-classic vessels.

[SVAndante9]

We have Amica's inland marine policy. Don't let the name fool you. Keep the boat in the Chesapeake. When we want to go somewhere else they add a rider for it and we pay extra. They've insured us to go to New England, Newfoundland and Labrador. VERY reasonable rates and you get a dividend.

But for sailing away from the U.S. (Amica doesn't want to make a habit of insuring us in Canada) we'll probably go wth Pantaenius.

[Tim R.]

Amica is an excellent and highly rated company. I have used them for 30 years including home, auto and yacht. They do not cover live aboard so we went with Panteanius which fits well with our cruising plans.

[CSR Employee]

Hello All,

I have just spotted your insurance dilemma post on the forum and wanted to provide a little detail, albeit very late in response. I work for Concept Special Risks Limited in the UK and have done so for nearly ten years now. We were previously part of the Osprey Group of Companies and we underwent a structural de-merger from that group to become Concept Special Risks.

We did this for a number of reasons and it was certainly not to distance ourselves from poor reviews, one of the main reasons was that we sought to develop relationships through Europe and write other lines of insurance business (aside from Yachts) with other partners.

I would like also to clarify that we are an Underwriting Agency and we write on behalf of a number of A Rated Insurers, this should be clearly documented on any policy or quotation that we issue under a section entitled "Security" or "Insurance Provider".

We are very happy to discuss any claims or coverage issues experienced, you can contact any one of our team through our website; we are always very happy to help!

Thanks!

[Vasco]

Originally Posted by Tom1340

Thanks to all for responding to my initial post.
I have obtained a quote from Pantaenius and a copy of their policy. All looks quite good and I would like to go with them...BUT there is one problem. They have rejected my Named Storm Plan. My practice is to haul the boat into Harbortown Boatyard in Ft. Pierce, FL, and leave it on hard for hurricane season. The boat is on jack stands, which are secured together with chains, and the boat is secured to ground by 4 heavy web straps tied to earth anchors. While this level of security has impressed me, Pantaenius says they will approve on hard storage of monohull boats in Florida only if they are in a cradle.
My boatyard does not offer cradles. I've seen a few cradles in the caribbean, but I don't recall having seen them in Florida.
Questions:
1) Does anyone know of an east coast Florida boat yard that offers cradles.
2) If your boat is in Florida and is insured with Pantaenius, what do you do?
Thanks, Tom

Tiger Point in Fernandina Beach uses cradles.

[Jolly Roger]

Britannia is a 1977 Down East 45 schooner, British registered, although sailing in the southern US and Bahamas.
I shopped around extensively, including companies mentioned here. Even though I had a current survey, many would not insure the boat, (a) because of its age, and (b), because it lives in Florida.
I finished up with TopSail Insurance Ltd, in Brighton, England, who say they are Lloyds underwritten, which is good enough for me.
The quote was competitive and the boat is insured for an agreed total loss value, including hurricanes.
I haven’t made any claim, so I don’t know how they perform, but I spoke to a number of their clients who have, and they seemed satisfied.
Worth a try, talk to Laura Clothier.
Home - Topsail Insurance - Marine, Yacht and Motorboat Insurance providers

[haha49]

I think the question you should ask is this. Who here has had to make a claim for what and how bad or good was the insurance company. Rates are 1 thing but when the company fights to try and get off the hook even when it's no fault you can get really screwed over. Unless you have the money to fight them and most people give up or simply don't fight and the way the insurance company looks at it if we don't pay for 1-2 years as they sue we collect intrest on that money till that time. So for them it makes sense to try and fight 80 percent of the claims.

!00 percent no fault accident insurance company was hell to deal with. (car insurance) Other driver even admitted fault. I wouldn't buy insurance I rather take the same amount of money stick it into an account so if something happens you have the money to cover it. Chances are if your boat sinks or it's major and you happen to be on it you might be dead so what good is insurance if you can't use it because something bad happened. It all depends on the amount of risk your willing to take I find even buying insurance is a risk. You have to look at it this way it's good to have if something bad happens but when you have to pay say 3000 deductible to make a claim that's 3000 you can take off the cost of the damages right there. So it's something to think about when you buy insurance.