Pantaenius America

[Captain W]

So this week I received an email from Pantaenius USA that due to the lack of quality underwriters and the increasing claims in the US, they are no longer insuring in the USA. Huh? In any case, I guess I am back in the insurance market...I do coastal sailing around Maine and do not intend to do blue water. From my research last year, I have an older boat that not all insurers will take on. I know there are opinions both good and bad about insurance, but would appreciate this respected group’s opinions.

 

[sail sfbay]

What is your boat year? This is long shot but have you tried BoatUS?

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[Captain W]

She is a ‘63 fiberglass Sou’wester. I need to go back to my notes to see if BoatUS would cover. Have you had good experience with them?

 

[jssailem]

Insurance experience is a difficult term to quantity.
I have insured with them for 3 years. They were easy to process the quote and billing. The valuation was acceptable. They send their bills on time. They answer the phone when I have a question. No claims in that period. Cost and value appear fair.

Looks like Pantaenius USA is transferring their block of business to another insurer. They seem to want to focus on the Super Yacht market after reviewing their marketing material. You may be caught up in this change. I had the same experience 3 years ago.

 

[sail sfbay]

BoatUS insured my 1995 Sport Nautique ski boat and 1987 Hunter 31 sailboat. They were easy to deal with (just call them up for a quick quote) and very cost effective and competitive. Insuring a boat that age might require a Insurance Condition & Valuation (C&V) Marine Survey depending on your insurance underwriter. My sailboat is currently insured with Markel American Insurance Company, which I got through a local marine insurance broker, for $500,000 Protection & Indemnity,, $839,800 fuel spill liability and hull and machinery coverage to an agreed value, personal effects and emergency services. You may not need all of that coverage.

 

[shemandr]

I think Progressive has moved into the boat insurance space pretty aggressively. Maybe they will quote you. If not I would look for and contact a company that advertises in one of the magazines trying to reach the "Classic" boat market. I don't expect either to be cheap. Also try Shoreline out of Clinton CT. It won't be cheap but they will likely find an INSC that will write the policy.
It makes no sense to me how INSC's will lose money insuring older boats whose value is a fraction of what a new boat is and risk of a claim is about the same. But they have their data and you can't talk sense to them.

 

[HMT2]

I use Progressive an agreed value policy. Happy customer for almost ten years

 

[Ron20324]

I've had Boat U.S. through 3 boats, and they have done well by me. I say give them a call.

 

[kappykaplan]

Markel American Insurance Company

Got them via USAA in 2008.

 

[quadrille38]

My broker sent a letter last month saying that the underwriter they used was dropping it’s marine insurance line And as such my boat policy would not be renewed. Seems the underwriter got acquired by a larger company who decided to drop boat insurance.
The broker was able to get me a policy that is agreed value through Progressive.

This is the second time in three years I’ve received a notice of non renewal. Both times due to acquisition and restructuring of the insurance company.

 

[CarlN]

I switched from Pantaenius to Chubb (agent IMIS/Gowrie) about 3 years ago. Similar “high end” policy features to Pantaenius but so far they‘ve been more flexible about minor policy changes. Price actually. went down this year. Boat is used in New England in summer and Bahamas in Winter. I don’t know how they’ll feel about an old boat but I think insurers currently prefer any boat in Maine to a boat in Florida. They also write for Markel who may be a better choice for an older boat. Having tried both business models, I’ve decided I much prefer using an independent agent. Gowrie Group - IMIS

 

[Captain W]

Thanks all. Good advice. I think your suggestions of a broker might be a good one. There seems to be so many things to pay attention to and so many options.