Re: Yacht insurance


Alexandre Uster von Baar
 

Hello Mark,
Good that you read the requirements…
Since Irma & Maria, they have changed and are in my opinion impossible to follow.
Not to mention, even when you do, like I did, still it is a never ending fight…
Sincerely, Alexandre



--------------------------------------------

On Thu, 4/4/19, Mark Erdos <mcerdos@...> wrote:

Subject: Re: [AmelYachtOwners] Yacht insurance
To: main@AmelYachtOwners.groups.io
Date: Thursday, April 4, 2019, 9:25 AM


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Bill,


 

Our existing
Pantaenius
policy was changed after the big storms a couple of years
ago. Our coverage with
them was since 2012 ish. The big change was in the past we
would submit a storm
plan to them and they would base our deductable on the
location and the plan. I
thought this to be very fair and flexible. Instead they
opted to use a rigid policy
where they dictate the storm plan to us. I could not find
anywhere inside the Caribbean
where I felt I could meet the parameters outlined in the
policy amendment. I
mean seriously, how am I suppose to know how much the
concrete blocks weight or
the breaking strength of the straps used. And according to
the policy wording,
if one of the blocks weighed 4999 lbs, the entire claim
would be voided if we
had damage. And, where the heck to we find room to store 22
fenders aboard the
vessel? As soon as I read this, I decided it was time to
change. I was just
slow about it. But, when the rate increase came it was added
motivation. I was
basically paying for hurricane coverage knowing I couldn’t
meet the
requirements last season. Anyone know of anywhere in the
entire Carib where you
can secure the vessel between two fixed concrete piers,
assuming you have the 22
fenders? This was just all very ridiculous! But not as
ridiculous as this, “The
insured vessel shall be hauled and stored in a building
rated to withstand CAT
4 or greater storms”. I mean com’ on!!!!  Now I am
suppose to be a structural engineer?


 

 

IT IS EXPRESSLY WARRANTED BY
THE INSURED THAT DURING A NTS THE VESSEL SHALL FULLY COMPLY
WITH THE NAMED
TROPICAL STORM PLAN REQUIREMENTS STATED BELOW. IT IS
ACKNOWLEDGED, UNDERSTOOD,
AND AGREED BY THE INSURED THAT ANY DEVIATION FROM THE NAMED
TROPICAL STORM PLAN
REQUIREMENTS BELOW SHALL BE DEEMED A BREACH OF THIS WARRANTY
AND WILL VOID
COVERAGE FOR ANY AND ALL DAMAGE OR LOSS, DEFENSE COSTS, AND
LIABILITIES ARISING
FROM THE NTS REGARDLESS OF WHETHER THE DEVIATION WAS A CAUSE
OF THE DAMAGE OR
LOSS. THERE SHALL BE NO COVERAGE FOR DAMAGE OR LOSS ARISING
FROM A NTS UNDER
ANY CIRCUMSTANCES IF REASONABLE CARE IS NOT EXERCISED TO
SECURE OR MOVE THE
VESSEL IN ORDER TO PREVENT DAMAGE AND LOSS.

 

NAMED TROPICAL STORM PLAN
REQUIREMENTS:

 

1.                  
The insured vessel shall be hauled and secured
a
unitized cradle suitable for the vessel or in a hurricane
pit.  With either
arrangement, the vessel is to be lashed directly to the
ground or to concrete
blocks, one concrete block with a minimum weight of 5000 lbs
to be located at
each lashing anchor point.  Lashing is to be accomplished
using a minimum of one
(1) tensioning strap located symmetrically on each side of
the vessel for
every10 feet of vessel length. Each strap shall have a
minimum breaking
strength of 5000 lbs. Single straps may be run transversely
across the vessel
and lashed to the ground or concrete blocks on both sides of
the vessel to
accomplishrequired lashings.In addition, the vessel interior
and stowage
lockers shall be secured and locked to prevent theft and
vandalism and all
loose or removable items, components, parts, and equipment,
including but not
limited to personal effects, sails, cushions, canvas,
covers, and booms, must
be removed and properly secured to prevent damage or
loss.

 

-or-

 

2.                  
The insured vessel shall be hauled and stored
in a
building rated to withstand CAT 4 or greater storms.

 

-or-

 

3.        
The
insured vessel shall be secured between two fixed piers or a
fixed pier and a
bulkhead or two bulkheads; these fixed structures to which
the insured vessel
is secured must be suitable to sustain the wave action of
the NTS. The size of
the berth and the manner in which the insured vessel is
secured shall be such
that there is a minimum of 6 feet of distance between the
vessel and each fixed
pier or bulkhead and any adjacent vessels or pilings. The
insured vessel shall
NOT be secured to floating piers or docks. The insured
vessel shall be secured
by a minimum of 8 doubled lines on each side of the vessel
(16 total lines)
with appropriate chaffing protection and shall include a
minimum of bow, stern,
head spring, and back spring lines. The insured vessel shall
be fendered every
5 feet on its sides.

 

 

-or-

 

4.                  
The insured vessel maybe moved in order to
avoid the
effects of the NTS and prevent damage or loss, provided the
vessel is moved in
a time, manner, and direction reasonably calculated to avoid
the NTS based on
the projected path of the NTS and provided the projected
path of the NTS is
monitored by the insured at all times. If the vessel is
moved and then secured,
it must be secured in accordancewith requirement 1, 2, or 3
above, unless the
projected path of the NTS indicates the vessel will not be
affected by the
NTS. 

 

 

To me, this was
basically saying they no longer wanted our business, a fine
example of a great
company implementing crap policies. I regretted having to
leave Pantaenius
because I really like working with Scott. He was always very
quick to respond
and helpful. I have since found this same business acumen at
Y-Yacht.

 

BTW – The Pacific
Ocean coverage with Pantaenius was in excess of $10,000 and
would not cover a Panama
Canal transit. In addition, three people would be required
on passages over 36
hours adding an expense of hiring additional crew. Our next
highest policy
quote was 20% less.

 

 

With best
regards,

 

Mark

 

Skipper

Sailing Vessel
- Cream Puff - SM2K - #275

Currently
cruising - San Blas Islands,
Panama

www.creampuff.us


 



From:
main@AmelYachtOwners.groups.io
[mailto:main@AmelYachtOwners.groups.io] On
Behalf Of CW Bill RoBiuse

Sent: Thursday, April 4, 2019 10:44 AM

To: main@amelyachtowners.groups.io

Subject: Re: [AmelYachtOwners] Yacht
insurance



 











Courtney, 






 





Something
to consider:





When was
your Pantaenius policy written? It is possible that newer
Pantaenius policies are even more restrictive. If so, what
James is
reporting may come to be true for you when your
Pantaenius policy renews.






 



























































































Best,



 





Bill Rouse





720 Winnie St.





Galveston, Texas 77550





832-380-4970





My
Calendar 











Yacht School




























































































 









 





On Thu, Apr 4, 2019 at
9:41 AM James Cromie via Groups.Io
<jamescromie=yahoo.com@groups.io>
wrote:









Courtney-





Pantaenius provided
coverage if we remained north of 7
degrees north, and south of 10 degrees north during July 15
and November 1.
This excludes Grenada, Trinidad, and the ABCs. Of course,
they will provide
coverage without that restriction if we were willing to pay
$8,200 premium
and have a
deductible of $63,000.  This renders the policy
prohibitively expensive
for us.  In addition, their securement  policy during a
named
tropical storm would be difficult to execute in most
locations. 





 





So, yes, you can get
coverage without them but it is not
amenable to our needs.  





 





James



 



On Apr 4, 2019 10:27,
"Courtney Gorman via
Groups.Io" <Itsfun1=aol.com@groups.io>
wrote:

James what is the issue with
Pantaenius they have told me that I'm
fine in Grenada?



Cheers





Courtney





Trippin





54 #101 St Thomas





 



-----Original Message-----

From: James Cromie via Groups.Io <jamescromie=yahoo.com@groups.io>

To: main <main@AmelYachtOwners.groups.io>

Sent: Wed, Apr 3, 2019 10:09 pm

Subject: [AmelYachtOwners] Yacht insurance



Hello fellow Amelians - 

I know that there has been recent discussion on various
insurance carriers, and
many people have found the need to change insurers due to
geographic
limitations or extremely restrictive policies.  



I am now in the same predicament and am looking to change
from Pantaenius to
another insurer while in the Southern / Western Caribbean
during the hurricane
season.  

 I have inquired with Y-Yachts and Top Sail, and both of
these informed me
that they cannot yet insure US documented yachts. 

I have found Novamar to be reasonably priced and will allow
us to keep our boat
in the ABC's during the hurricane season.  



Do any of you have experience with Novamar?  

I am also interested in recommendations for other carriers.
 



As always, I greatly appreciate the time and shared
experience of the group!
 



Best,

James

Soteria SM2000 #347

Frederiksted, St. Croix

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