Insurance for a USA boat
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eric freedman
I contacted Pantaenius about next year’s insurance. They said they lost their primary company and are cancelling all policies here. They will be acting as brokers to try to find me insurance. Has anyone else run into this problem and have you found a suitable insurance company? Fair Winds Eric Amel Super Maramu #376
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Gary Golden
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Manifest Marine Out of Annapolis ~~~⛵️~~~Matt
On Feb 28, 2020, at 1:38 PM, eric freedman <kimberlite@...> wrote:
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Karen Smith
Hi Eric & Amelians,
We are a US based boat, and got our cancellation notice from Pantaenius US also. We went with Jackline, for the worldwide coverage. We also liked Novamar. We did a LOT of shopping and comparisons. We will likely do a blog post about it, once we get a chance. It was a big hassle! Karen Smith s/v Harmonie SM #160
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Eric
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I just got insurance for my new Maramu from Leah. Insurance@pensum.pro Very responsive Marty
On Feb 28, 2020, at 12:56 PM, Karen Smith via Groups.Io <karenharmonie=yahoo.com@groups.io> wrote:
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John Clanton <jclanton@...>
Eric,
I received my non-renewal letter from Pantaenius USA in November for a February renewal date. It seems that Allianz, their major underwriter, decided to exit the US marine market. Our new policy is with Yachtinsure UK, and while the premium is 20% higher, they were the cheapest of the bunch. I am told that Pantaenius is seeking another underwriter, but it doesn’t sound like it will happen quickly. While I didn’t have to make a claim, my other experiences with Pantaenius were all positive.
I hope you have success in finding a suitable solution.
John W. Clanton S/V Devereux Antibes, France
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Michael & Robyn
Hi Eric,
we had the same issue and went to https://www.yyachtinsurance.com/ from the UK. -- Michael & Robyn SY RIPPLE SM2K # 417
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Yes same thing. They wouldn't even consider underwriting. They said they are not insuring boats in US ARAS SHARKI#163
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John Clark
Hi Karen, I too went with a Jackline policy. But good golly the premium is crazy. I am relocating to St Thomas in the next month and will be spending some quality time looking for a better arrangment. Regards John Clark SV Annie SM37 Brunswick GA
On Fri, Feb 28, 2020 at 4:04 PM martin haméline <marafiki37@...> wrote: Eric
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Paul Dowd and Sharon Brown
Try Anjo in Antigua if it’s only the Caribbean are you want.
Cheers, Paul S/Y Ya Fohi - Amel 54 #98 - Grenada
From: main@AmelYachtOwners.groups.io <main@AmelYachtOwners.groups.io> On Behalf Of John Clark
Hi Karen, I too went with a Jackline policy. But good golly the premium is crazy. I am relocating to St Thomas in the next month and will be spending some quality time looking for a better arrangment. Regards
John Clark SV Annie SM37 Brunswick GA
On Fri, Feb 28, 2020 at 4:04 PM martin haméline <marafiki37@...> wrote:
-- Cheers Paul Ya Fohi - Amel 54 #98
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Duane Siegfri
Karen Smith,
Novamar...that's interesting. We received a non-renewal letter from them three weeks ago. It said the non-renewal was due to changes in their Underwriting. Since we are headed back to the USA (from the Caribbean) the agent went back to them with a reduced cruising area (eastern seaboard and gulf coast) and they offered insurance. The "home port" had to be FL, not GA. He said they are spreading their risk by only accepting a limited number of policies in each state. Duane Wanderer, SM#477
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Doug Smith
I am a new owner and just purchased in December 2019. Pantaenius gave me a very reasonable quote and insured my boat for US east coast. Policy dates effective Dec 19-Dec 2020.
I wonder what the terms will be for renewal or if they will even offer a renewable policy. Thanks, Doug Smith Amel 54-113, Aventura Dugsmith98@yahoo.com
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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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