Reply
 
Thread Tools Search this Thread Display Modes
 
Old 03-27-2019, 07:27 PM   #1
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Insurance

So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
__________________
Advertisement

KarinH is offline   Reply With Quote
Old 03-27-2019, 08:38 PM   #2
Senior Member
 
Action's Avatar
 
City: Phoenix, AZ
Country: USA
Vessel Name: Enigma
Vessel Model: 1997 Wellcraft Excel 26 SE
Join Date: Mar 2015
Posts: 243
How small a trawler?
__________________

__________________
>>>>>>>>>>>Action
Action is online now   Reply With Quote
Old 03-27-2019, 08:47 PM   #3
Guru
 
Seevee's Avatar
 
City: st pete
Country: usa
Vessel Model: 400 Mainship
Join Date: Sep 2016
Posts: 2,143
Quote:
Originally Posted by KarinH View Post
So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
If you have a captain, let him be in charge for insurance purposes. Perhaps after 6 months, you can get someone to write you.

But, need an opinion from and insurance pro.
__________________
Seevee
Seevee is offline   Reply With Quote
Old 03-27-2019, 08:49 PM   #4
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Size - 27’ Ranger Tug.
KarinH is offline   Reply With Quote
Old 03-27-2019, 08:51 PM   #5
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Thanks Seevee, will talk to Captain, he is the original owner and I plan to buy from him...
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:03 PM   #6
Guru
 
Comodave's Avatar
 
City: Au Gres, MI
Country: US
Vessel Name: Never Say Never
Vessel Model: President 41 DC
Join Date: Jul 2015
Posts: 5,084
Did you ask them what you need to do to qualify for insurance?
Comodave is online now   Reply With Quote
Old 03-27-2019, 09:04 PM   #7
Guru
 
Comodave's Avatar
 
City: Au Gres, MI
Country: US
Vessel Name: Never Say Never
Vessel Model: President 41 DC
Join Date: Jul 2015
Posts: 5,084
Also might ask your home owners insurance company if they will insure you.
Comodave is online now   Reply With Quote
Old 03-27-2019, 09:05 PM   #8
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by Comodave View Post
Did you ask them what you need to do to qualify for insurance?


The gentleman was not very forthcoming, after I asked him what options I have he merely suggested I should see if I can find an insurance company in my “home state”.
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:05 PM   #9
Senior Member
 
Action's Avatar
 
City: Phoenix, AZ
Country: USA
Vessel Name: Enigma
Vessel Model: 1997 Wellcraft Excel 26 SE
Join Date: Mar 2015
Posts: 243
Boat US didn't have much issue insuring my '24 Express Cruiser with no on the water experience. However that was a couple of decades ago.

Ouch, it was longer than that. Man am I getting old. It was in the late 1990s.
__________________
>>>>>>>>>>>Action
Action is online now   Reply With Quote
Old 03-27-2019, 09:08 PM   #10
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Action, maybe now that they use Geiko this has changed. Sadly this might jeopardize my purchase. Will also look into Home Insurance but I read somewhere it is rather limited in its coverage.
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:09 PM   #11
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by Comodave View Post
Also might ask your home owners insurance company if they will insure you.


Thanks will definitely check it out. Appreciate the suggestion.
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:31 PM   #12
Member
 
TripleGGG's Avatar
 
City: Lenoir City, TN / Fort Loudon Marina
Country: United States
Vessel Name: Perfect Match
Vessel Model: Mainship 40 Sedan Bridge
Join Date: Mar 2019
Posts: 20
Call Charter Lakes 800-879-2248. They represent many carriers and should be able to help.
__________________
Greg
TripleGGG is online now   Reply With Quote
Old 03-27-2019, 09:32 PM   #13
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by TripleGGG View Post
Call Charter Lakes 800-879-2248. They represent many carriers and should be able to help.


Many thanks! Will definitely do so tomorrow.
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:34 PM   #14
Member
 
TripleGGG's Avatar
 
City: Lenoir City, TN / Fort Loudon Marina
Country: United States
Vessel Name: Perfect Match
Vessel Model: Mainship 40 Sedan Bridge
Join Date: Mar 2019
Posts: 20
Quote:
Originally Posted by KarinH View Post
Many thanks! Will definitely do so tomorrow.
Ask for Kyle Dietrich. Great guy.
__________________
Greg
TripleGGG is online now   Reply With Quote
Old 03-27-2019, 09:35 PM   #15
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by TripleGGG View Post
Ask for Kyle Dietrich. Great guy.


Will do so - many thanks again TrippleGGG!
KarinH is offline   Reply With Quote
Old 03-27-2019, 09:55 PM   #16
Senior Member
 
Spinner's Avatar
 
City: Seattle
Country: USA
Vessel Name: Spinner
Vessel Model: 2003 Nordic Tug 42
Join Date: Dec 2018
Posts: 124
The first boat I ever owned was a 29 Ranger Tug. Absolutely no issues getting insurance! I had and still have Preremier Marine. Look for a specialty insurance company.

If you haven’t talked to them already, call Global Marine Insurance. They specialize in Ranger Tugs - this is from the Ranger Tugs website:

“Global Marine Insurance

Email: HTillotson@globalmarineinsurance.com

globalmarineinsurance.com/rangertugs/
888-992-2975”
__________________
Regards

Sue
42 Nordic Tug Spinner
Spinner is offline   Reply With Quote
Old 03-27-2019, 10:00 PM   #17
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by Spinner View Post
The first boat I ever owned was a 29 Ranger Tug. Absolutely no issues getting insurance! I had and still have Preremier Marine. Look for a specialty insurance company.

If you haven’t talked to them already, call Global Marine Insurance. They specialize in Ranger Tugs - this is from the Ranger Tugs website:

“Global Marine Insurance

Email: HTillotson@globalmarineinsurance.com

globalmarineinsurance.com/rangertugs/
888-992-2975”


Spinner - I started my search for quotes today and was so taken aback by the ‘no quote’ that I called it a day. Hoped for advice from this forum and have not been disappointed. So no I haven’t called Global Marine yet! Will most definitely do so tomorrow, I am feeling more optimistic. Thanks so much for the advice.
KarinH is offline   Reply With Quote
Old 03-27-2019, 10:29 PM   #18
Senior Member
 
Spinner's Avatar
 
City: Seattle
Country: USA
Vessel Name: Spinner
Vessel Model: 2003 Nordic Tug 42
Join Date: Dec 2018
Posts: 124
You are welcome!
__________________
Regards

Sue
42 Nordic Tug Spinner
Spinner is offline   Reply With Quote
Old 03-27-2019, 11:50 PM   #19
Guru
 
Pau Hana's Avatar


 
City: Seattle, WA
Country: Good Ol' US of A!
Vessel Name: Pau Hana
Vessel Model: 1989 PT52 Overseas Yachtfisher
Join Date: Aug 2012
Posts: 1,977
Quote:
Originally Posted by KarinH View Post
So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
It’s a conundrum, to be sure- but let’s look at it from the insuring company’s standpoint. A new boater with a 150k vessel and zero experience, and an agreed value policy that will pay the $150k to the insured if the vessel is a total loss.

It’s a higher risk factor to consider. A risk that many insurers will not even consider.
__________________
Peter- Marine Insurance Guru & tuna fishing addict!

1989 52' PT Overseas yachtfisher
Pau Hana is online now   Reply With Quote
Old 03-28-2019, 07:03 AM   #20
Veteran Member
 
City: Oak Ridge
Country: USA
Join Date: Nov 2017
Posts: 26
Quote:
Originally Posted by Pau Hana View Post
It’s a conundrum, to be sure- but let’s look at it from the insuring company’s standpoint. A new boater with a 150k vessel and zero experience, and an agreed value policy that will pay the $150k to the insured if the vessel is a total loss.



It’s a higher risk factor to consider. A risk that many insurers will not even consider.


Thanks for this perspective Pau Hana - I am willing to pay a premium for my lack of experience. Imagine insurance refused to cover 16 yr olds in new cars because they lacked 3 yrs experience and never owned a car before...Anyway maybe I will find an insurer willing to insure us today - otherwise my boat dream is dead in the water. No insurance no boat.
__________________

KarinH is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off





All times are GMT -5. The time now is 10:16 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012