New to Boating Insurance

[enjaku]

I'm purchasing our first "new-to-me" boat; a 2012, 45' aluminum hulled, lifting centerboard bad built in France. My issue is getting insurance for the boat. I placed a call to Boat US and they refused to cover me based on my lack of boating experience. Does anyone have any thoughts on this?

This is my first boat, and I understand that it's a rather large boat. Because of that, I've completed all of the ASA courses up through 105, as well as 118 (Docking Endorsement). I've spent a week sailing and sea-trailing the exact boat that I want to purchase. I've completed a Maritime Diesel Engine Course as well as a Maritime Electrical Course. I'm a retired military officer with about five years of small boat (<20') experience in the military. I'm an active Paramedic. I'm planning on taking Offshore Passagemaking with ASA (108) or possibly going out with John Kretschmer on a cruise if he can find room, as well as an SAS course. The boat will be sailed in the Great Lakes for only 8-months per year.

I've invested a ton of time/effort/money into my sailing education. What else do I need to do to qualify for insurance? Maybe Boat US isn't my best choice?

[Paul54]

I recommend using Seaworthy insurance either directly or through Geico.

[Stumble]

You can certainly call around to different insurance companies, but I think you are going to find they are all going to be leery about insuring someone with minimal experience on a large expensive boat. What I would suggest is asking them directly what they want you to do, first to be willing to wright coverage at all, and then to drop coverage rates.

Most likely they will want some amount of time with a captain on board to provide professional guidance. I have acted in this capacity in the past, and it normally isn't a whole lot of time. A few weeks at the most to do a check out test, confirm your understanding of navigation and pilotage, even cover systems usage, ect. While a lot of people can make suggestions, you really need to hear if from the insurance companies.

[Lepke]

If you're boating the US and Canada, try https://www.hagerty.com

They do big old boats and many local brokers use them, but you can buy direct.

Get your boaters card. It wouldn't hurt to have some marine classes under your belt.

[Balance]

Hi Enjaku,
Interested to see how you go with getting insurance as i will be in the same boat (so to speak)
Love to know what boat you chose

[enjaku]

Today was "Insurance Day". I got several quotes from companies, and they all were $3,000/yr or less, which I felt was reasonable. All want a Skipper Endorsement, which again is reasonable. The decision is in the details now.

[jrambo316]

Did you explore the possibility of liability only insurance? Did they have different requirements depending on coverage amount? I will face this issue as well and it may affect what boats I consider.

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[jmiller148]

Originally Posted by enjaku

Today was "Insurance Day". I got several quotes from companies, and they all were $3,000/yr or less, which I felt was reasonable. All want a Skipper Endorsement, which again is reasonable. The decision is in the details now.

What are they calling a Skipper Endorsement?

[Nick & LA]

Expect around 1% of the agreed value ($5k for a $500k boat), less as you get more certified experience - but not by a lot.


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[Dtrombley]

Though this thread is a bit dated, I wanted to add to it for the next "New to Boating Insurance" boater who comes across it.

We recently purchased (taking delivery tomorrow) a new model live-aboard boat that the builder mistakenly terms a trawler. I looked for insurance recommendations and found a few. I chose to go with Hugo at Hanham Insurance Agency. He found us a very good policy with great coverage at a great price and was very helpful along the way with a few 'tweaks' to the policy.

We were expecting to take delivery of our boat in February, go through a break-in period, work out the kinks and be well on our way up the east coast doing the Great Loop by now. The delay impacted our coverage (had to be north of 36th parallel by June 15) so, with Hugo's assistance, we went looking for another policy. He was extremely helpful in getting us a replacement policy. Once we had that new policy in place, Hugo worked to cancel the original policy and secured a full refund for us!

In this day and age, to experience such a wonderful level of customer service is indescribably refreshing. In short, check with Hugo at Hanham when you need a policy or advice.

[Dtrombley]

Oops!
I forgot the contact info for Hugo...

HANHAM INSURANCE AGENCY
Yachts, Boats, Marine

Hugo Hanham-Gross
T: +1 843 410 2990
E: hugo@hanhaminsurance.com
W: www.hanhaminsurance.com