Florida Boat Insurance.

[Charlie_Tenn]

New to cruising new to this forum.... howdy everyone. I'm moving to Florida and plan to live on a sailboat. This has been a dream of mine and I'm finally getting my opportunity. There's a problem though....I'll be in Tampa and the list of marinas I gave State Farm had none that were elegible for me to insure my boat. Is this a State Farm problem? Can anyone in Florida give me some guidance? TIA.

Charlie

[BeachbumKW]

Try Geico

[Davy J]

I'll be in Tampa and the list of marinas I gave State Farm had none that were elegible for me to insure my boat.

That must have been a short list......... Not many liveaboard marinas around here.

Anyway, I currently have Progressive. However, I think they will only insure boats up to about 36', not sure about that though. When I need to renew I intend to get a quote from these guys:

International Marine Insurance Services
IMIS Home Page ~ International Marine Insurance Services

[Charlie_Tenn]

True, liveaboard marinas seem to be scarce. It's looking like the municipal marina, Harborage and Blind Pass are my front runners.

Geico is "processing a quote with their underwriters". I'm assuming this will break the bank since I have little experience on this size boat and it is florida gulf coast.

[vjm]

You can always ask for a liability only policy. They tend to be cheaper and less restrictive.

[Charlie_Tenn]

vjm, unfortunately that's unlikely to be an option when the bank owns the boat. lol They're going to want comprehensive coverage.

update... the Geico just turned me away as unisurable due to lack of experience on this size boat. I'm assuming that this isn't a catch 22 where I need insurance to get experience but need experience to get insurance. Maybe I need to start with a 35foot and move up later? This is turning into a joke. Can't wait for the punchline...

[vjm]

This is pretty typical. You have all the insurance strikes against you: liveaboard, Florida year round, not "enough" experience with that size boat. Try IMIS and Pantenaius, maybe? I have also heard good things about Novamar.I am not sure they will do it, but worth a shot.

I'm sorry, it is a hurdle that many to most liveaboards have a hard time with down here. Insurance likes a lot of experience on similar vessels with no claims, out of the hurricane box by certain dates, and not living aboard. Sucks, I know.

[skipmac]

I insure with BoatUS and have not heard anything at all from them about what marina is or is not covered nor any restrictions on liveaboard or not.
They will also insure you in Florida year round but will charge a hurricane premium.

A friend with zero boating experience got insurance on a 38' Morgan but not sure where. The company wrote the policy but required he have a licensed captain on board anytime he left the dock for the first year.

[sailorboy1]

Originally Posted by skipmac

A friend with zero boating experience got insurance on a 38' Morgan but not sure where. The company wrote the policy but required he have a licensed captain on board anytime he left the dock for the first year.

WOW $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$

When I got my first boat, 39', with only 3 months of weekend experience all the insurance company required me to do was get 20 hours of additional instruction. That was via a Markel policy I got from IMS.

[nautical62]

Check with Progressive, Boat U.S. and Atlas.

[skipmac]

Originally Posted by sailorboy1

WOW $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$

When I got my first boat, 39', with only 3 months of weekend experience all the insurance company required me to do was get 20 hours of additional instruction. That was via a Markel policy I got from IMS.

The way he did it the cost wasn't really that outrageous. Found a local guy with a captain's license that wasn't working as a captain who agreed to sit in the cockpit and ride around with my buddy for not much money. Buddy just did day sails for a few months until the captain agreed that he had a reasonable grasp of the basics, they contacted the insurance company who agreed to cancel the requirement after about six months.

What kind of instruction did you get? ASA course or similar?

[sailorboy1]

Originally Posted by skipmac

What kind of instruction did you get? ASA course or similar?

I was already ASA bareboat certified when I got my boat. I didn't really get any extra instruction during the 20 hours of "training" that I combined with moving the boat from where it was to my home port, a 3 day trip. But I did learn a lot due to problems etc. and was glad to have had the captain along.

Back to insurance, you really need to shop around some. I'm always amazed when people same they have Boat US as everything I've gotten a quote from them it has been a lot more expensive than other (20+%)

[lonesoldier0408]

Get a lawyer to go over any policy you get. Instruct him to show you every loop hole that allows the insurance company an out. You'll find your actual coverage nonexistent. The bank will have their own policy covering performance on your loan, just as with a mortgage. You get behind, or whatever, they go in on that policy collecting the full balance of the loan. They are paid off and will still foreclose on your boat and resale your boat to pay off the already paid off loan. The interest you had been paying, paid for the policy that paid off your boat, but let's not let that get in the way of the bank making an additional profit.

You didn't here it from me. No, no, no.
Just keep that money machine turning, don't make the mistake of interjecting, right and wrong, just keep paying.


Still surrounded by anchors.

[sv Winterlude]

We switched to Jackline through IMIS last year. Last hurricane season our 37' boat was on the hard in Marathon/Keys. This hurricane season it will be "laid up afloat" at Regatta Pointe Marina in Bradenton/Palmetto, FL - which might be an option for you for liveaboard, although it's not as close to Tampa. Jackline charges a premium for tropical storm coverage and they only offer a certain number of slots annually, to limit their exposure. First paid get the slots.

Before we had Jackline, we had various policies through Bluewater Insurance out of Jupiter FL. They will insure boats in Florida - the policies aren't as good, but they're worth a try. Their restrictions seem to be more flexible.

I know it's not easy since we're had our boat in Florida now for a few years. Good Luck!

[chuckr]

When we bought our boat - brand new Jeanneau DS40 - we took her to Miami and had a bit of time finding insurance. Our broker found Bill Hodgens - yachtinsure and he got us insurance for Miami - and by the way it was my first boat and only had a few ASA course and very limited experience

Bill is a great guy and very easy to work with.

When we did a 2 person crossing of the Atlantic we switched to IMIS who also works with us on where we want to go.