Re: Insurance for a USA boat
About a year and a half ago, we insured Cream Puff with Y-Yacht in the UK
after Pantaenius rewrote the Caribbean policy to a point of being ridiculous. Many people spoke very highly of Y-Yacht and so far, so good. We are not US flagged and therefore have more options than US flagged vessels. I do not believe Y-Yacht will insure a US flagged boat. During our search for insurance, I was also impressed with Novamar. However, I think they are in the process of changing. TopSail in the UK may or may not write a policy on a US Flagged vessel. I get mixed reports on this. If you join the OCC you can get a discount on TopSail insurance. The Jackline policy was stupid expensive. And besides, the point of contact was so rude I walked away after receiving the quote. You should also be aware they will require a full out of water survey. They will not settle for a valuation survey. This is will cost you about an extra $1,000 upfront if you do not have a current acceptable survey. Our insurance from Y-Yacht was about $2300 less per year for the same coverage in the same area. (neither TopSail or Y-Yacht required a survey - Both just wanted some current pictures of the vessel and were specific about the photos required) Quite so time ago, I looked at a Florida based company. Owners and residents of Florida have a hard time getting boat insurance. There is an association who hunts for A-rated companies and offers insurance at reasonable rate. You have to join the association for the insurance but not for a quote. Here is a link: https://www.nboat.com/boat-insurance/florida/ If someone has a decent agent, please share. Agents hunt for companies at no cost to the insuree. They get a commission from the companies when they refer and write a policy. Agents can save you a ton of legwork. I had a good experience with this agent: Chris Boome Insurance Agency LIC# 0A99058 751 Laurel Street #216 San Carlos, CA 94070 O: 650-517-3160 C: 650-464-0728 WWW.CHRISBOOME.COM E-mail: chris@chrisboome.com Think globally when it comes to boat insurance. The US dollar is very favorable to other currencies and can yield a nice discount when purchasing insurance in Euros for example. Pantaenius offices around the world work as individual companies. It might be possible to get Pantaenius insurance from an office other than PantaeniusUSA. If your vessel is outside of the USA, it may be possible to get a policy from other reputable companies in the world. One of the most popular companies for vessels in the Pacific using A-rate underwriters is The Marine Shop: https://www.marine-insurance.co.nz/ Hope this helps. With best regards, Mark Skipper Sailing Vessel - Cream Puff - SM2K - #275 Currently cruising - Galapagos www.creampuff.us
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