Topics

Insurance for a USA boat

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

 

Matt Salatino
 

Gary Golden
Manifest Marine
Out of Annapolis

~~~⛵️~~~Matt

On Feb 28, 2020, at 1:38 PM, eric freedman <kimberlite@...> wrote:

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

 

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

martin haméline
 

Eric

I just got insurance for my new Maramu from Leah.

Insurance@...
Very responsive

Marty

On Feb 28, 2020, at 12:56 PM, Karen Smith via Groups.Io <karenharmonie=yahoo.com@groups.io> wrote:

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

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

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

Aras
 

Yes same thing.  They wouldn't even consider underwriting.  They said they are not insuring boats in US
ARAS
SHARKI#163

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

I just got insurance for my new Maramu from Leah.

Insurance@...
Very responsive

Marty
> On Feb 28, 2020, at 12:56 PM, Karen Smith via Groups.Io <karenharmonie=yahoo.com@groups.io> wrote:
>
> 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
>
>



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
Sent: 28 February 2020 23:01
To: main@amelyachtowners.groups.io
Subject: Re: [AmelYachtOwners] Insurance for a USA boat

 

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

I just got insurance for my new Maramu from Leah.

Insurance@...
Very responsive

Marty
> On Feb 28, 2020, at 12:56 PM, Karen Smith via Groups.Io <karenharmonie=yahoo.com@groups.io> wrote:
>
> 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
>
>



--
Cheers
Paul
Ya Fohi - Amel 54 #98

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

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@...

Mark Erdos
 

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@...


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