I recently signed a purchase agreement on an Allied 39. This agreement is contingent on me being able to get insurance for at least the purchase price. Seems reasonable enough...WRONG !!!!!!! Apparently after Hurricane Katrina, the rules have change quite a bit. Here are some of the new restrictions in order to get your boat covered. The boat must be less than 25 years old, your insurance claim for Katrina could not have exceeded $25,000, no boats over 30 in length, you must be in a dock at least 10 miles from the gulf including bays, lakes etc. that lead into the Gulf, and the list goes on and on. So far the best we can do is to get a 'storm wind exclusion'. That means we could get coverage except for exactly what it says...wind damage, be it a storm, tornado or a .....forget it, LOL. Not to mention the rated nearly tripled. We are still looking for a better policy, but will probably have to settle for the storm wind exclusion. Unfortunately I'm not as smart as most others I know, so I will keep on sailing. Many people that lost their boats on the coast will net buy another one again. I'm not the only one that believes in Insurance, so there will definately be a whole lot less boats out there. With all the BS going on, this could also be a good one to run in the Political forum. There I could really express my self.
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Claims
sailortonyb, Is this if you have had a claim with this insurance company before? That is what I am guessing you are saying; you had insurance on another boat with this insurance company and had a claim and now they are giving you this hassle? I just got insurance on that C30 and it 29 years old.
sailortonyb, Is this if you have had a claim with this insurance company before? That is what I am guessing you are saying; you had insurance on another boat with this insurance company and had a claim and now they are giving you this hassle? I just got insurance on that C30 and it 29 years old.
Gee...
I moved my boat from Pensacola 2 weeks before Ivan ('04), still had a claim for $2500 within a month of buying it and my insurance went up about $50 the YEAR since. It's still under $500/yr. for $70,000 agreed value. Lots of things figure into insurance rates. All that said, I'm surprised ANY of us can get insurance on the Gulf Coast!
I moved my boat from Pensacola 2 weeks before Ivan ('04), still had a claim for $2500 within a month of buying it and my insurance went up about $50 the YEAR since. It's still under $500/yr. for $70,000 agreed value. Lots of things figure into insurance rates. All that said, I'm surprised ANY of us can get insurance on the Gulf Coast!
Different Ins. Co
My claim was with American Reliable Ins. Co. and they wont give me Ins. Anymore even though this was my first claim.
My claim was with American Reliable Ins. Co. and they wont give me Ins. Anymore even though this was my first claim.
TRAUMAGUARD
If you have Ins. for the value of your boat, please let me know your Ins. Co. name and Tel. No. After putting in my claim for Hurricane Katrina, I can no longer use my Ins. co. I have to find a different one. I am not the only one with this problem. Have several friends with the same problem. Honeyman had a Claim with Hurricane Ivan, although it was a bad storm, the devastation area wasnt wide enough for the Ins. Co.s to get excited like they did after katrina and also his claim was for only $2,500. Thanks
If you have Ins. for the value of your boat, please let me know your Ins. Co. name and Tel. No. After putting in my claim for Hurricane Katrina, I can no longer use my Ins. co. I have to find a different one. I am not the only one with this problem. Have several friends with the same problem. Honeyman had a Claim with Hurricane Ivan, although it was a bad storm, the devastation area wasnt wide enough for the Ins. Co.s to get excited like they did after katrina and also his claim was for only $2,500. Thanks
Not Refering to Anyone Here But,
I would be happy to hear that my insurance company would not write another policy on a guy who left his sails and other canvas up and left his boat in the slip when we had warning a week out about a storm. I have no problem sharing the load on insurance but do not want to subsidise someone who looks at insurance as a method to finance a new boat. We have all seen them out there there is so much growth on the bottom of the boat that they could not get out of the slip if they wanted to, frayed lines, etc. Then during a storm they break loose and bash the hell out of the dock and other boats around. These are the guys I am talking about.
I would be happy to hear that my insurance company would not write another policy on a guy who left his sails and other canvas up and left his boat in the slip when we had warning a week out about a storm. I have no problem sharing the load on insurance but do not want to subsidise someone who looks at insurance as a method to finance a new boat. We have all seen them out there there is so much growth on the bottom of the boat that they could not get out of the slip if they wanted to, frayed lines, etc. Then during a storm they break loose and bash the hell out of the dock and other boats around. These are the guys I am talking about.
National Marine Underwriters
Tony, try National Marine Underwriters. They were willing to fully insure my 31', with a recent survey, at a very reasonable price. Better covereage than I previously had with Progressive. I didn't have any Katrina claims, so that may be the difference, but worth a look. Boat is in Mandeville.
Tony, try National Marine Underwriters. They were willing to fully insure my 31', with a recent survey, at a very reasonable price. Better covereage than I previously had with Progressive. I didn't have any Katrina claims, so that may be the difference, but worth a look. Boat is in Mandeville.
Lucky they write it at all
Funny thing is that the insurance companies don't even write flood insurance for houses in the areas in questions, ie costal shoreline, flood plains ect. The houses don't have a tendency to break loose, typically, float into, on to thru other objects. Note the goverment is the group that underwrites the flood insurance. All should be equally irate that the insurance companies don't write home flood insurance.
Funny thing is that the insurance companies don't even write flood insurance for houses in the areas in questions, ie costal shoreline, flood plains ect. The houses don't have a tendency to break loose, typically, float into, on to thru other objects. Note the goverment is the group that underwrites the flood insurance. All should be equally irate that the insurance companies don't write home flood insurance.
Katrina Claim
Its.my katrina Claim for over $25,000 that seems to be my biggest hurdle at the moment. I thank you all for the other Ins .Co.names and i will look them up also. Thanks again
Its.my katrina Claim for over $25,000 that seems to be my biggest hurdle at the moment. I thank you all for the other Ins .Co.names and i will look them up also. Thanks again
Katrina Did It
Its.my katrina Claim for over $25,000 that seems to be my biggest hurdle at the moment. I thank you all for the other Ins .Co.names and i will look them up also. Thanks again
Its.my katrina Claim for over $25,000 that seems to be my biggest hurdle at the moment. I thank you all for the other Ins .Co.names and i will look them up also. Thanks again
Rick Webb !!!
Just so that you know....after the storm, Oak Harbor Marina in Slidell, La. was overwhelmed with Surveyors, and insurance adjusters. As the boats were hauled out (or 'up' in some cases),there were lots of notes taken. When the hull of a boat looks like a chia pet, they know that it did not happen overnight. The surveyors and adjusters are experienced at determining new damage from old damage. Derelict boats just happen to have a certain look about them. Besides, from my experiences, the boats that you described are usually not insured, not even for liability. Somehow they got that past the harbormaster and there are lots of lawsuits in the mill over the price of raising the wrecks. Also note that there were SEVERAL really nice boats in the marina that were deffinately worth $250,000 or more and had NO insurance. That blew a lot of peoples minds.
Just so that you know....after the storm, Oak Harbor Marina in Slidell, La. was overwhelmed with Surveyors, and insurance adjusters. As the boats were hauled out (or 'up' in some cases),there were lots of notes taken. When the hull of a boat looks like a chia pet, they know that it did not happen overnight. The surveyors and adjusters are experienced at determining new damage from old damage. Derelict boats just happen to have a certain look about them. Besides, from my experiences, the boats that you described are usually not insured, not even for liability. Somehow they got that past the harbormaster and there are lots of lawsuits in the mill over the price of raising the wrecks. Also note that there were SEVERAL really nice boats in the marina that were deffinately worth $250,000 or more and had NO insurance. That blew a lot of peoples minds.
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