[PUP] Offshore insurance

[Greg Bradley]

Ken - 

I would be very interested in learning of your experiences as you
investigate more about non-US flagging your vessel and your insurance
search.  I haven't really heard of this before and since we'll be
buying a new boat soon, it's something I'd like to learn more about.

Keep us posted.

Greg...


--- Ken Williams <kenw@seanet.com> wrote:

> Scott:
> 
> If you speak to more insurance companies, and if it isn't any extra
> work,
> can you ask them about whether your ability to get insurance varies
> based on
> whether or not your vessel is US flagged?
> 
> I have been told, but have not verified this, that insurance is much
> cheaper, and simpler to find, if your vessel is not US flagged. The
> reason I
> was given is that the US has the most expensive litigation should
> anything
> go wrong (punitive damages, etc)
> 
> We will be taking delivery of our new boat in a few months, and I'm
> on the
> fence as to whether or not to US flag it. The majority of our
> cruising will
> be non-US, so it might make sense for us.
> 
> As I start my quest for insurance, I'll let you know what I find.
> 
> -Ken Williams
> Nordhavn68.com
> 
> 
> -----Original Message-----
> From: passagemaking-under-power-bounces@lists.samurai.com
> [mailto:passagemaking-under-power-bounces@lists.samurai.com] On
> Behalf Of
> scottebulger@comcast.net
> Sent: Tuesday, January 16, 2007 10:12 AM
> To: PUP
> Subject: [PUP] Offshore insurance
> 
> I just got off the phone with Overseas Insurance, one of the
> companies
> recommended by Nordhavn.  I am currently with Zurich (purchased
> through
> Overseas).  When I advised Overseas I planned a departure this summer
> for a
> 2 year Caribbean cruise they said Zurich would not carry the policy,
> and
> that I should submit an itinerary and a boating experience resume for
> my
> wife and I.  They would then submit it to Loyds of London and see if
> they
> would write a policy.  I'm certain my wife and I don't have enough
> boating
> experience to satisfy them.  I am prepared to leave without insurance
> and
> simply "self insure".  
> 
> My question is this:  How many of you cruising couples have succeeded
> in
> acquiring insurance?  
> 
> Was this an instant process or did you have to "earn your stripes"?
> 
> Assuming you do NOT have insurance, have you been refused moorage at
> any
> marinas in the U.S., Central America, Mexico, or the Lesser Antilles?
> 
> Would it be possible to get a "Liability Rider" on my personal
> insurance
> that might substitute for Yacht Insurance.  I'm not concerned about
> insuring
> the boat against loss, but am concerned about liability.  One of the
> problems with a "Rider" is you have to have something for the policy
> to
> "ride" on.  Having sold the house, cars and other belongings, I'm not
> sure
> what I'd use as a base policy?  Any thoughts on this are welcome and
> appreciated!  Thanks, Scott
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