Insurance update US East Coast & Bahamas- Pantaenius US


Craig Briggs
 

Some recent posts discussed Pantaenius coverage for east US and Bahamas with respect to the hurricane season - here's an update (spoiler alert: no change).

We just received offers for renewing our Pantaenius policy as of April 30, 2019:
Option 1: $2,287 premium for $185K agreed value with $5K deductible, $500K Indemnity; boat North of 30.5°N (Florida) from July 15 to Nov 15;
Option 2: $5,192 for same coverage; boat North of 21.0° N (Includes Bahamas), If south of 30.5 between July 15 and Nov 15, that is, in Florida or the Bahamas, a Named Tropical Storm (NTS) deductible applies of $37,000 and you must comply with their NTS Plan of 1. being hauled with unitized cradle or hurricane pit with 5000 pound blocks etc.,or 2., stored inside a Cat 4 hurricane building or 3.between fixed concrete piers or 4. being moved out of the way of the NTS. No coverage if the NTS Plan is not followed.

Noteworthy is that Lighting damage now has a deductible of 5% of Hull Value if, under Option 1, in Florida from June 1 to July 14 or Nov 1 to 30, or, under Option 2, from June 1 to Nov 30.

Bottom line, if you want year around coverage for Florida and/or the Bahamas, Pantaenius USA's rates are breathtaking. I'm shopping and have found Geico (Boat US) offers a competitively priced product.

Cheers, Craig  SN68 SANGARIS, Delray Beach, FL


Ryan Meador
 

Given this topic is about ways to keep your boat further south, this is probably irrelevant, but I feel compelled to add it:  I had BoatUS coverage on my old boat and dropped it when they switched to Geico as the underwriter.  I keep my boat in the water year-round in Boston (when not cruising) and Geico requires the use of a bubbler to receive ice and freezing coverage, even if bubblers are not normal practice in your location (it's not in my marina).  I think there were a couple other caveats as well, so read the policy carefully.  For now, I'm still happy with my Pantaenius America coverage, but we'll see what happens when it renews.

Ryan and Kelly
SM 233 Iteration
Southport, NC, USA


On Thu, Apr 11, 2019 at 10:15 AM Craig Briggs via Groups.Io <sangaris=aol.com@groups.io> wrote:
Some recent posts discussed Pantaenius coverage for east US and Bahamas with respect to the hurricane season - here's an update (spoiler alert: no change).

We just received offers for renewing our Pantaenius policy as of April 30, 2019:
Option 1: $2,287 premium for $185K agreed value with $5K deductible, $500K Indemnity; boat North of 30.5°N (Florida) from July 15 to Nov 15;
Option 2: $5,192 for same coverage; boat North of 21.0° N (Includes Bahamas), If south of 30.5 between July 15 and Nov 15, that is, in Florida or the Bahamas, a Named Tropical Storm (NTS) deductible applies of $37,000 and you must comply with their NTS Plan of 1. being hauled with unitized cradle or hurricane pit with 5000 pound blocks etc.,or 2., stored inside a Cat 4 hurricane building or 3.between fixed concrete piers or 4. being moved out of the way of the NTS. No coverage if the NTS Plan is not followed.

Noteworthy is that Lighting damage now has a deductible of 5% of Hull Value if, under Option 1, in Florida from June 1 to July 14 or Nov 1 to 30, or, under Option 2, from June 1 to Nov 30.

Bottom line, if you want year around coverage for Florida and/or the Bahamas, Pantaenius USA's rates are breathtaking. I'm shopping and have found Geico (Boat US) offers a competitively priced product.

Cheers, Craig  SN68 SANGARIS, Delray Beach, FL


Mark Erdos
 

Craig,

 

I think the remarkable part of the Pantaenius requirements is the fact, in my opinion,  it would be impossible to meet the requirements anywhere in the Carib. When I first read these changes as a part of our policy, I inquired as to where in the Carib they felt I could meet the requirements and wondered if they had specific boat yards in mind when they wrote the specs. I never heard back from them regarding this. It would seem logical to me if they are to have such specific regulations in terms of meeting the policy requirements they would have at least a couple of places in mind where they had done some reconnaissance to help their members comply. But, I guess not.

 

We have heard good things about Geico, however they coverage geography is limited. Look into Novamar. Novamar uses Geico as an underwriter, along with other big names. They are A-rated. They have an easy to read policy, reasonable rates and none of the stupidity of Pantaenius.  Here is a broker who can help with a quote (or you can get one online):

 

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@...

 

 

https://www.novamarinsurance.com/

 

Hope this helps.

 

 

 

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 Craig Briggs via Groups.Io
Sent: Thursday, April 11, 2019 10:15 AM
To: main@AmelYachtOwners.groups.io
Subject: [AmelYachtOwners] Insurance update US East Coast & Bahamas- Pantaenius US

 

Some recent posts discussed Pantaenius coverage for east US and Bahamas with respect to the hurricane season - here's an update (spoiler alert: no change).

We just received offers for renewing our Pantaenius policy as of April 30, 2019:
Option 1: $2,287 premium for $185K agreed value with $5K deductible, $500K Indemnity; boat North of 30.5°N (Florida) from July 15 to Nov 15;
Option 2: $5,192 for same coverage; boat North of 21.0° N (Includes Bahamas), If south of 30.5 between July 15 and Nov 15, that is, in Florida or the Bahamas, a Named Tropical Storm (NTS) deductible applies of $37,000 and you must comply with their NTS Plan of 1. being hauled with unitized cradle or hurricane pit with 5000 pound blocks etc.,or 2., stored inside a Cat 4 hurricane building or 3.between fixed concrete piers or 4. being moved out of the way of the NTS. No coverage if the NTS Plan is not followed.

Noteworthy is that Lighting damage now has a deductible of 5% of Hull Value if, under Option 1, in Florida from June 1 to July 14 or Nov 1 to 30, or, under Option 2, from June 1 to Nov 30.

Bottom line, if you want year around coverage for Florida and/or the Bahamas, Pantaenius USA's rates are breathtaking. I'm shopping and have found Geico (Boat US) offers a competitively priced product.

Cheers, Craig  SN68 SANGARIS, Delray Beach, FL


Craig Briggs
 

Thanks, Mark - I'll check with Novamar. Their website lists an office in Sarasota, Fl, too.
Craig


Duane Siegfri
 

I just recently signed up with Novamar thru the broker Mark on Cream Puff recommended.  For $360,000 agreed value including dinghy and $10,000 in personal goods, with coverage including Grenada for hurricane season the premium was $5,054.  I submitted my own storm plan for storage on shore using one of the Grenada marinas description, and it was accepted.  The broker said it was easy to change the storm plan in the event we have it at a dock.

The navigation limits were:

Navigation: U.S. Atlantic and Gulf coastal waters and inland waters thereto of the United States between Eastport, ME and
Brownsville, Texas, including the Bahamas and waters of the Caribbean Sea, excluding the waters of Cuba, Haiti, and
Venezuela. It is warranted between 1 July and 1 November, navigation is restricted to either north of St. Mary’s, GA or south of
12 degrees 40 minutes North Latitude.


James Cromie
 

Hi Duane -. I am wondering what deductible you have for your policy.  
I'm also considering Novamar. 

Thanks. 
James

Soteria 347
Culebra


On Apr 13, 2019 11:30, "Duane Siegfri via Groups.Io" <carlylelk@...> wrote:
I just recently signed up with Novamar thru the broker Mark on Cream Puff recommended.  For $360,000 agreed value including dinghy and $10,000 in personal goods, with coverage including Grenada for hurricane season the premium was $5,054.  I submitted my own storm plan for storage on shore using one of the Grenada marinas description, and it was accepted.  The broker said it was easy to change the storm plan in the event we have it at a dock.

The navigation limits were:

Navigation: U.S. Atlantic and Gulf coastal waters and inland waters thereto of the United States between Eastport, ME and
Brownsville, Texas, including the Bahamas and waters of the Caribbean Sea, excluding the waters of Cuba, Haiti, and
Venezuela. It is warranted between 1 July and 1 November, navigation is restricted to either north of St. Mary’s, GA or south of
12 degrees 40 minutes North Latitude.


Mark & Debbie Mueller
 

Just curious if anyone has had any claims experience with Novamar?  How well do they follow-up and how quickly do they pay?
--
Mark & Debbie Mueller
Brass Ring  A54


Duane Siegfri
 

James, here are the deductibles:
                                                                              Value/Limit               Deductible           Premium            
Hull Coverage Limit(Agreed Value / All-Risk)        $360,000                 $7,200                 $5,019
Liability (Protection & Indemnity)                           $500,000                                             Included
Defense Costs                                                       $500,000                                             Included
Medical Payments                                                 $25,000                                               Included
Tender (up to $15,000 / 14' / 40HP) Included in hull                              $100                   Included
Personal Property                                                  $10,000                   $50                     Included
Uninsured Boater                                                  $500,000                                             Included
Towing / Emergency Services                               $5,000                                                 Included
Trailer $0 $100 Included
Accidental Fuel Spill Liability Coverage                $939,800                                             Included
Named Windstorm Coverage/Deductible             $360,000                  $36,000               Included
Electronic Equipment Deductible Included in hull                                 $250                    Included
Incidental Paid Crew Coverage                            $500,000                                              Included
Shared Expense Hurricane Haulout up to            $1,000                                                  Included
Additional Endorsement Premium $0
Policy Fee                                                                                                                          $35
Total Annual


James Cromie
 

Thank you Duane!

On Apr 14, 2019 17:55, "Duane Siegfri via Groups.Io" <carlylelk@...> wrote:
James, here are the deductibles:
                                                                              Value/Limit               Deductible           Premium            
Hull Coverage Limit(Agreed Value / All-Risk)        $360,000                 $7,200                 $5,019
Liability (Protection & Indemnity)                           $500,000                                             Included
Defense Costs                                                       $500,000                                             Included
Medical Payments                                                 $25,000                                               Included
Tender (up to $15,000 / 14' / 40HP) Included in hull                              $100                   Included
Personal Property                                                  $10,000                   $50                     Included
Uninsured Boater                                                  $500,000                                             Included
Towing / Emergency Services                               $5,000                                                 Included
Trailer $0 $100 Included
Accidental Fuel Spill Liability Coverage                $939,800                                             Included
Named Windstorm Coverage/Deductible             $360,000                  $36,000               Included
Electronic Equipment Deductible Included in hull                                 $250                    Included
Incidental Paid Crew Coverage                            $500,000                                              Included
Shared Expense Hurricane Haulout up to            $1,000                                                  Included
Additional Endorsement Premium $0
Policy Fee                                                                                                                          $35
Total Annual


Gary Silver
 

Hi Duane:

Any chance you received a premium quote from Novamar if the boat was inside the hurricane box? (i.e. in Puerto Rico or elsewhere in the Caribbean).  I will be hauling here in Puerto Rico June 26th.  They have a reinforced cement grid network for tying boats down and those boats tied to this grid had no damage during the Cat IV Maria.

Gary S. Silver
s/v Liahona
Amel SM 2000 #335
Puerto Rico 


Miles
 

Hello Group,

For a change, I have some good news.  I had told the group that Pantaenius was not renewing my insurance and several of you gave me good advice in the frustrating search I have been on for the last 2 weeks.  Today, I found out that Pantaenius has an issue with my broker, not with me.  I phoned Pantaenius and they said they would be happy to continue covering me directly.  Panic over!! 

 I take the boat north for the summer, so the hurricane coverage was not a problem.

Thanks to everyone who tried to help me with this.

 

Miles

 

s/y Ladybug, sm216, Le Marin, Martinique


Eric Freedman
 

Hi Miles,
I am so happy that you were re-insured. I found it odd as they said they would be renewing my policy and not yours, however I always dealt direct.
Fair Winds,
Eric



On Thu, Apr 18, 2019 at 12:52 PM, Miles wrote:

Hello Group,

For a change, I have some good news.  I had told the group that Pantaenius was not renewing my insurance and several of you gave me good advice in the frustrating search I have been on for the last 2 weeks.  Today, I found out that Pantaenius has an issue with my broker, not with me.  I phoned Pantaenius and they said they would be happy to continue covering me directly.  Panic over!! 

 I take the boat north for the summer, so the hurricane coverage was not a problem.

Thanks to everyone who tried to help me with this.

 

Miles

 

s/y Ladybug, sm216, Le Marin, Martinique


Mark Erdos
 

Miles,

 

Glad to hear it worked out for you. But, it is a shame they put you through the wringer rather than just tell you up front what their issue was specifically regarding.

 

 

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 Miles
Sent: Thursday, April 18, 2019 12:52 PM
To: main@AmelYachtOwners.groups.io
Subject: Re: [AmelYachtOwners] Insurance update US East Coast & Bahamas- Pantaenius US

 

Hello Group,

For a change, I have some good news.  I had told the group that Pantaenius was not renewing my insurance and several of you gave me good advice in the frustrating search I have been on for the last 2 weeks.  Today, I found out that Pantaenius has an issue with my broker, not with me.  I phoned Pantaenius and they said they would be happy to continue covering me directly.  Panic over!! 

 I take the boat north for the summer, so the hurricane coverage was not a problem.

Thanks to everyone who tried to help me with this.

 

Miles

 

s/y Ladybug, sm216, Le Marin, Martinique