Bahamas Insurance Questions

[Skip Gundlach]

Hi, group,A couple of questions, and since I'm not a regular here, please also copy me at skipgundlach at gmail dot com if you replyAs we get ready to ship out, we're going to replace our insurance from thestrictly coastal Allstate to Bahamas coverage, and later blue water (well,at least Caribbean).I submitted the requisite online form to BoatUS, of which we are unlimitedtowing members (despite having been in the water only the lastnot-quite-3-months out of the last 3 years) of long standing, and got theresponse below.It was shocking in two regards: The max value and the coverage costs; itappears I was quoted on a different area than I'd requested, perhaps becauseof its current location in FL? The Bahamas aren't mentioned, and FL eastand west coast are, when the quote area asked for was US Gulf, Atlantic andBahamas waters.So, two questions: Who here has Bahamas coverage and for those with BoatUScoverage, were there any surprises in the valuations or costs?Related, though the numbers (not very many here) would be very slim, for anysimilar size and age owners: What do the insurance folks value your boats tobe?Below is the quote I got from them:From: <AUTO-QUOTE@boatus.com>To: <SKIPGUNDLACH@GMAIL.COM>Subject: BoatU.S. Quotation - Application # 2711974Date: Tuesday, January 02, 2007 9:41 AMThank you for your interest in BoatU.S. Marine Insurance and for takingthe time to tell us about your boat. We are pleased to offer thefollowing quote.IMPORTANT NOTE:According to the information provided about your boat, there arecriteria which must be met in order to purchase this policy. They arenoted in the SPECIAL CONDITIONS AND REQUIREMENTS section of your quote.If you need additional information, please call our toll freenumber (800) 283-2883 Monday - Friday between the hours of 8am - 9pmand Saturday between the hours of 9am - 5pm, EST. Please provide yourApplication Number 2711974 to our representative or you may wait fora quote package sent to you by mail which will contain instructionsabout binding your policy.SKIP GUNDLACH& LYDIA FELLP. O. BOX 614RABUN GAP GA 30568Type of Boat : 461 1979 MORGAN 46Cruising Area : U.S. Atlantic Coastal Waters including FL East & West CoastSUMMARY OF COVERAGESBoat and Boating Equipment (Agreed Hull Value) : $80,000.00Boat and Boating Equipment Deductible : $1,840.00Storm Deductible : $4,000.00Boating Liability : $100,000.00Fuel and Other Spill Liability : $800,000.00Medical Payments : $1,000.00Boat Trailer : $.00Trailer Deductible : $.00Personal Effects : $.00Personal Effects Deductible : $.00Uninsured Boater Protection-Limit each Accident : $100,000.00TOTAL ANNUAL PREMIUM : $4,149.00BOAT U.S. MEMBERSHIP (Required if not a Member) : $19.00TOTAL ANNUAL COST : $4,168.00The following applies to boats located in the states of TX, LA, MS,AL, FL, GA, NC, SC, or VA: In the event of any loss caused directlyor indirectly by a storm named by National Oceanic & AtmosphericAdministration(NOAA), the deductible subtracted from each loss,whether partial or total loss, will be $1,000, or 5% of the amountshown for Boat & Boating Equipment whichever shall be the greatest.SPECIAL CONDITIONS/REQUIREMENTS:An acceptable condition and value survey is required before coverageis effective. Coverage may change upon review of the report.Co-owner(s) need to complete a supplemental application.The hull identification number is required.The coverage quoted above is the maximum we could obtain on your boatbased on the current market value of what we think are similar boats.The company requires additional information for boats located inHurricane affected areas. Please complete the enclosed form.REQUIRED: Membership in BoatU.S., the nation's largest association ofrecreational boaters with over 25 cost-saving member benefits andservices (including $50 in towing services) is required with yourpolicy. Our annual dues of $19 are in addition to your quote.RECOMMENDED: BoatU.S. offers higher option Towing Services which coveryou up to the specified level in the event you become stranded on thewater. The average cost of a tow is approx. $325 and a softungrounding, $525.For $150 per incident, add $18For $350 per incident, add $52For $500 per incident, add $70For Unlimited Towing, add $120BoatU.S. Marine Insurance is underwritten by the CNA Insurance Group,one of the largest insurers in the world for over a century.Administration of your policy is handled exclusively by boating experts- professional underwriters, claims adjusters, surveyors and salvorsdispatched by BoatU.S. 24-hours a day, seven days a week.BoatU.S. Marine InsuranceInsuring Boats and Only Boats Since 1966.Frequently Asked Questions about Our Quote:http://www.boatus.com/insurance/faq.aspL8RSkipMorgan 461 #2SV Flying Pig KI4MPCSee our galleries at www.justpickone.org/skip/gallery!Follow us at http://groups.google.com/group/flyingpiglog and/orhttp://groups.yahoo.com/group/TheFlyingPigLog"Twenty years from now you will be more disappointed by the things youdidn't do than by the ones you did do. So throw off the bowlines. Sailaway from the safe harbor. Catch the trade winds in your sails. Explore.Dream. Discover." - Mark Twain

 

[jackhartjr]

Skippy, we are not acustomed to...

...answering theads through another e-mail address unless we know you.So here goes.Hi Skip, I ran into the same problem when I got my quote from BoatsUS.I wound up calling them and dicussing exactly what I want. I was able to get it right on the phone.One of my issues was also that they had left out the cruising grounds I wanted.The other was the value they placed on the boat.Jack HartHope that helps.Jack

 

[Don s/v Tellico]

Call them...

and get to an underwriter, which is PAST the customer svc person that will answer. The underwriters know their stuff and will help you with options. They did for me several times. You will likely save much more than whatever it might cost to call from your location.