# Insurance



## PAULCR1 (Dec 9, 2011)

We have wanted to purchase a sailboat, about a 34', and spend some of our retirement years sailing the Caribean. We have no experiece although I have taken some ASA classes. We were told that the insurance rate on a boat is dependent on your sailing experience. Is this the case? If so, can anyone give us a ballpark figure on what insurance rates would be.
Thanks in advance for any input.


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## saillife (Jun 25, 2006)

Short answer - Yes.
You're just going to have to call. Age of boat, size, value will all affect it. I spoke to my broker just the other day about this and was told they won't cover me unless I already have sailed in the Caribbean (I have). Waiting to hear back on how much they will want. A friend of mine bought a boat in Trinidad. He could only get insurance from Loyds. I don't know how much it was but, it was not cheap.
Good luck


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## PAULCR1 (Dec 9, 2011)

Many thanks for the information. Maybe that dream is squashed.


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## snaxbox (Sep 20, 2012)

Sorry for that plan being squashed...for now. You can still sail in the nearby places right while building your experience and get ready for that Caribbean dream? Don't lose faith and keep finding other ways to find a better insurance coverage depending on your budget. Best of luck.


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## Minnewaska (Feb 21, 2010)

Take as many official sailing courses and safety courses as you can. Insurance companies like that. A later model 34ft sloop should be among the easier to insure and not out of reach for a newer sailor. A very old boat, particularly a fixer upper, is very difficult.

Location also impacts the insurability. Higher crime areas are naturally going to be harder to insure. More common is high rates if you remain in the Caribbean during hurricane season, where rates can sky rocket, if attainable at all. Some insurance companies want proof that you have access to being hauled in the event of a named storm. You probably want to know too.


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## svzephyr44 (Jun 26, 2000)

ask the same question at Welcome to the Seven Seas Cruising Association


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## Barquito (Dec 5, 2007)

What about going with a boat that is not as expensive (a little smaller, and a little older), and self-insuring? By self-insuring I mean saving enough money that if the ship is lost, you will not be ruined. AND by building knowledge and skills that will reduce the likelyhood of loosing the ship.


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## Minnewaska (Feb 21, 2010)

You still need liability insurance, including environmental hazard.


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## PAULCR1 (Dec 9, 2011)

Thanks for all the input. We are going to the Galveston Boat Show next weekend just to see what's available and will 'pick the brains' of those there also. Again thanx.


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## PAULCR1 (Dec 9, 2011)

Seems like the boat insurance business is like the rest of business industries. You can't get a job unless you have experience. Understandable but frustrating.


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## chucklesR (Sep 17, 2007)

Just a simple observation - Has any of the companies ever asked you to PROVE your certifications or experience?

My first charter resume was so bogus it literally wouldn't hold water.


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## PAULCR1 (Dec 9, 2011)

Hi Chuckles,
Doing things like that has always come around and bit me in the butt. I'm the kid in line at school who gets caught doing the one thing that everyone else has been doing and has gotten away with. Been that way my whole life. 
Thanks though for the input we got a good chuckle out of it.


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## Geoff54 (Oct 30, 2011)

chucklesR said:


> Just a simple observation - Has any of the companies ever asked you to PROVE your certifications or experience?
> 
> My first charter resume was so bogus it literally wouldn't hold water.


No insurance (or charter) company is going to take the time and effort to check this out UNTIL you make a major claim. If you make a claim and the adjuster gets suspicious, you could easily find yourself without insurance. And if someone is coming after you for damages, the fact that you lied to the insurance company make everything you say suspect. What's your risk tolerance and how much can you afford to lose?


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## PAULCR1 (Dec 9, 2011)

Geoff54,
I agree with you. If, heaven forbid, something were to happen I wouldn't want to spend the rest of my life regretting it and having to dodge bill collectors. If I have to delay my plans so be it rather than create a legal hassle.


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## svzephyr44 (Jun 26, 2000)

Most marine insurance for coverage outside the US is sold through brokers. What you need to do is find a couple of brokers and discuss it with them. They have access to a number of different insurance companies, each of whom have their own rules. Also, coverage is not like car insurance. For example, my boat was insured for US and Bahamas, then the western Caribbean, now for the North Atlantic north of 10 degrees and the Med. Each time I move the coverage is re-written and the premiums change. This is also true if I stop for a while. Usually if you are going to be in a single place for at least 3 months they will modify the coverage for that place.

I am honoring this boards rules by not giving you names of brokers. The reason I sent you to the Seven Seas Cruising Association forum is that the issues of international coverage are well documented and a number of brokers read the forums on a regular basis. So if you go there you can get the real answers from the people who sell the coverage for a living.


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## PAULCR1 (Dec 9, 2011)

svzephyr44,
Thank you for the insight. We didn't know there was so much involved we 'assumed' it was going to be like a car. You folks have been a wealth of information and assistance. I hope we can reciprocate someday.


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## hellosailor (Apr 11, 2006)

"We didn't know there was so much involved we 'assumed' it was going to be like a car. "
It IS like a car. No safety classes? Surcharged. Going to Canada or Mexico? Surcharged. Driving too many miles? Surcharged. Commercial use? Surcharged. Bad credit rating? Surcharged. Gross weight over 20,000 lbs? Ooops, commercial license, surcharged again.

Cars, boats, doesn't matter, the insurers have surcharges for everything. Pick a slow time of a slow day, like midweek late morning or midafternoon, and pick a broker's brains. Then do it again the next week, with someone else. One of them might even earn your business.


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## tapske (Oct 17, 2012)

I am a new-ish (born again) sailor, recently got a Columbia 9.6 (31'6"). I have some ASA credentials, bareboat charter and navigation, although my insurance company didn't even ask me to validate any of those claims (which of course I can) Sateside insurance through Progrressive, is costing me $128 a month, and that gives me up to 200k liability. Which at this day and age is not that much. Most marinas want 300k and up in liability. And I opted for the 1k deductible. This deductible by the way is DOUBLED in the event of ANY "named" storm. I think this has become a pretty standard practice. 
This policy and comparable price, is only valid within 100 nm of USA. As far as I know they do not do international. 
It stands to reason, that provable experience can help grease the insurance wheels. If you have enough time before your planned retirement, maybe begin documenting every legal "day" at sea, and work toward your OUPV "6-pak" license. This is the track I am currently on, and although I don't know for sure if the "OUPV" license will aid in future international insurability..... I can't think of any way it could hurt to get it. And since I will be sailing anyway.....the extra effort/paperwork seems minimal too me....

Good luck.... Let me know if you find any good international insurance deals for beginners. I have a few mexican riviera trips tentavely planned over the next few years. 

---Tapske 

NIF


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## floridajaxsailor (Aug 4, 2010)

PAULCR1 said:


> Many thanks for the information. Maybe that dream is squashed.


dreams are never squashed

sometimes they just simmer quietly

for years

best of luck 
-JD


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## PAULCR1 (Dec 9, 2011)

Thanks JD. We are going to keep looking.


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## Capt-T (Aug 14, 2011)

If I hadn't seen that the OP was referring to sailing during retirement, I would have thought I had clicked on the "Why are so few young people cruising these days?" thread.


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## sw61807 (Oct 6, 2012)

Buying insurane is like buying a boat. Have to sacrifice and compromise. You'll never find the perfect policy. I do however strongly encourage you to get insurance. Liability and towing as a minimum. Shop around until you find a balance between what you want and what you can afford, then chase your dreams.


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## SimonV (Jul 6, 2006)

Expect the insurance to be about 1% the agreed value of your boat.


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