Insurance
|
Greetings All,
Are there any US citizens with US flagged boats fully insured in the Mediterranean presently or recently? I am looking for an insurance policy to cross the Atlantic and cruise the Med. Thank you in advance and all the best! Chuck and Kim Joy SM 388 St.martin WI |
|
|
|
Trevor Lusty
Dear Chuck and Kim,
Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA Email. laurac@... Website. www.topsailinsurance.com
|
|
|
|
Drew Gaffney
We used TopSail after Pantaenius withdrew from the US market. Rigging issues were excluded until new standing rigging installed. Excellent geographic coveragel Drew Former Owner SV Revelation SM2k290 On Sat, Feb 26, 2022 at 6:46 AM Chuck_Kim_Joy <clacey9@...> wrote: Greetings All, |
|
|
|
Scott SV Tengah
Not in the Med right now, but I can tell you that insurance for the Med is FAR cheaper than the Caribbean, so I think you'll be pleasantly surprised.
I was paying $4k a year in the Med and the moment I hit the Caribbean, that more than doubled. And that's with staying above the Florida/Georgia line during Hurricane season. Had to be completely out of the Caribbean, so going south didn't work. Frankly, I found Med sailing far more challenging than the Caribbean, so not sure why it's cheaper. It's true that the wind was either non-existent or too much. Most of our engine hours in our half circumnavigation to date were from the Med. So was our strongest winds and steepest seas (Gulf du Lyon). But the land life cannot be beat. -- Scott 2007 A54 #6 SV Tengah http://www.svtengah.com |
|
|
|
Something to consider: if you are in paying for named storm coverage in the Caribbean and your insurance company requires you to be out of the hurricane zone, you are paying a lot of money for something that has a very tiny chance of a claim. Perhaps consider a policy with no coverage for named storms. Yes, there are risks but there are also places to sail close to the West Indies that take you 99.9% out of harm’s way.
With best regards,
Mark
Skipper Sailing Vessel - Cream Puff - SM2K - #275 Currently cruising - Tahiti, French Polynesia www.creampuff.us
From:
main@AmelYachtOwners.groups.io [mailto:main@AmelYachtOwners.groups.io] On
Behalf Of Scott SV Tengah
Not in the Med right now, but I can tell you that insurance
for the Med is FAR cheaper than the Caribbean, so I think you'll be pleasantly
surprised. |
|
|
|
Another vote for Topsail (5% discount to OCC members). However, they will not cover US flagged boats in the USA. Perhaps a consideration once you get there or a least worth a conversation in the meantime.
As an FYI, the Marine Shop in NZ sells the same policy. They might sell to a US boat in the US. I’m not sure. The policy is: Global Yacht Cover underwritten by Great Lake Insurance SE (AM Best A+ rating)
Hope this helps.
With best regards,
Mark
Skipper Sailing Vessel - Cream Puff - SM2K - #275 Currently cruising - Tahiti, French Polynesia www.creampuff.us
From:
main@AmelYachtOwners.groups.io [mailto:main@AmelYachtOwners.groups.io] On
Behalf Of Chuck_Kim_Joy
Greetings All, |
|
|
|
Trevor Lusty
Scott,
The underwriters will tell you when you ask them directly why it is so much cheaper to insure in Europe than further afield, that it is due to repatriation costs involved in returning the vessel to a country where there is the necessary skill sets to make appropriate repairs. It sounds good! Regards, Trevor Lusty Cork Ireland |
|
|
|
Scott SV Tengah
Trevor,
I would guess that Le Marin, Martinique has contractors (including an Amel office) where they can repair vessels? I don’t think hurricane damaged Beneteaus/Jeanneaus/Bavaris/Lagoons are shipped back to Europe for repair after the hurricanes that hit there every year?
Doubling the insurance cost would imply that the cost of shipping is equivalent to the hull value since the risk of an event that requires shipping would be the same as the risk of an event that would result in total loss, which I can’t imagine is the case for my 54. Otherwise, I should get into the shipping business!
Whatever it is, the Med is a value destination, at least with respect to insurance!
From: "main@AmelYachtOwners.groups.io" <main@AmelYachtOwners.groups.io> on behalf of Trevor Lusty <trevlusty@...>
Scott, -- Scott 2007 A54 #69 SV Tengah http://www.svtengah.com |
|
|