My insurance broker recently informed me that they would no longer cover any sailing vessels in the Caribbean, After much discussion with other cruisers and soliciting bids for coverage I could not find acceptable coverage. I was in Grenada at the time and another cruiser had just gotten coverage from a little known company there.
The company is Netherlands Ins. Ltd. Based in Grenada with offices in the Netherlands. They don't advertise much but do have an ad in the Caribbean Compass. They have only recently started covering cruising boats and don't have the history of massive hurricane losses. Their main business is large cargo vessels. They are the insurers (carriers) not a broker.'
They are slightly more expensive BUT some of the good points are - No depreciation when replacing or repairing, they cover all arbitration and legal fees in damage matters, they cover lighting strike damage, their deductable is 2% for normal damage and 4% for named storm damage and the real kicker is your cruising limits are worldwide! No limits during named storm season. Contact me if you want more details of my coverage.
S/V Cloudstreet SM2K 331