HELP- Insurance Info Needed

[gpd955]

I got a quote from BoatUS insurance but my marina requires a liability limit that they won't give me. Anyone know of any insurance co. that I can call. I am berthed in NJ and have about 10 yrs exp. on other people's boats but it is the first one that I own!

 

[Traumaguard/ Tony]

Progressive works for me!!

I have used Progressive on a H 27 and Catalina 30. I just called Boat US and the rates were about the same. I have heard boat US will help pay for pull out costs if there is a storm. Oh yeah they also wanted a survey that I would have to pay for before they would write me a policy. I heard Progressive was very fair after Hurrican Ivan(also known as Pensacola's Katrina) we are still recovering after 18 mos. My marina is just now getting fixed. They require a copy of the policy and 300,000.00 liability.

 

[jade745@aol.com]

INS. HELP ON ITS WAY NJ.

I have a Catalina 27 based in Ft.Lauderdale Fl. insured by BOAT US. covering the E.coast and Bahamas.Proving experience is not difficult, having the Ins. Co. believing you is another story. The best way to prove knowledge

 

[Peter]

Umbrella?

Also think about an umbrella policy that is over the Boat US. While most umbrellas are not specifically designed with yacht coverage in mind, they are designed to cover "all risks" above the underlying policies basic coverage. An umbrella that is "following form", meaning its coverage covers the same risks as the underlying policies (i.e. the Boat US) would also work. Just make sure the limits on the Boat US and the umbrella coordinate so you don't have gaps in coverage.Talk to your general (i.e. homeowner's policy) insurance agent!

 

[Merrythought]

Same Requirement at My Marina

My marina requires an indemnification clause with $1 million in coverage. BoatUS will only give me $500K. My marina has accepted this. As I understand the issue, this is to absolve the marina from damage that my boat may cause.Talk to your marina manager and try to get the manager to accept the BoatUS limits.

 

[gpd955]

Thank everyone!

Thanks for all your help. Made a bunch of calls and think I may have the problem resolved. The only issue now is that the marina wants NJ DEP, Trump Management Associates and Donald J Trump listed as insured. National Marine Underwriters have no problem giving me the limits and naming the marina as an insured but they said it is very unusual the a state entity and all the others would be listed. I find it hard to believe that they would give me a problem at the marina if insurance companies won't add all of them!! Thanks all!!

 

[Peter]

Additonal Insured

I find it hard to believe that an insurance company would balk at naming anyone who has a legitimate insurable interest in your vessel's liability as an additional insured. If the state and the Donald are involved (as underlying lessor/owner, lessee or management agent I'd expect), the insurance co shouldn't have a problem. If these parties are so involved, it may be their lease or management agreements with your harbor that require the harbor to require that of its tenants. Who insures the other boats in the harbor?

 

[gpd955]

Peter

I spoke with the manager there and she got me in touch with a guy who basically told me that my problem is not unusual and that the company he deals with (Ace, I think) is one of the only companies that will do this. He mentioned that he is the agent that insures most of the boats in that marina, which I'm sure brings him in an incredible income!!

 

[Ferg]

Now I'm worried ....

I noticed everybody who posted here lives in the U.S. I mostly stick to the Canada side of Superior, but sometimes visit American ports. Do you guys know if this is just a southern State / ocean issue, or am I gonna have a hassle? Fate favours thems who is prepared, eh?

 

[Calif. Ted]

Shouldn't be a problem Ferg, American

commercialism will always find a way to welcome a visiting sailor with cash or good credit.