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Old 03-27-2019, 07:27 PM   #1
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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?
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Old 03-27-2019, 08:38 PM   #2
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How small a trawler?
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Old 03-27-2019, 08:47 PM   #3
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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.
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Old 03-27-2019, 08:49 PM   #4
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Size - 27’ Ranger Tug.
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Old 03-27-2019, 08:51 PM   #5
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Thanks Seevee, will talk to Captain, he is the original owner and I plan to buy from him...
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Old 03-27-2019, 09:03 PM   #6
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Did you ask them what you need to do to qualify for insurance?
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Old 03-27-2019, 09:04 PM   #7
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Also might ask your home owners insurance company if they will insure you.
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Old 03-27-2019, 09:05 PM   #8
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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”.
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Old 03-27-2019, 09:05 PM   #9
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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.
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Old 03-27-2019, 09:08 PM   #10
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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.
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Old 03-27-2019, 09:09 PM   #11
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Also might ask your home owners insurance company if they will insure you.


Thanks will definitely check it out. Appreciate the suggestion.
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Old 03-27-2019, 09:31 PM   #12
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Call Charter Lakes 800-879-2248. They represent many carriers and should be able to help.
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Old 03-27-2019, 09:32 PM   #13
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Call Charter Lakes 800-879-2248. They represent many carriers and should be able to help.


Many thanks! Will definitely do so tomorrow.
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Old 03-27-2019, 09:34 PM   #14
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Many thanks! Will definitely do so tomorrow.
Ask for Kyle Dietrich. Great guy.
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Old 03-27-2019, 09:35 PM   #15
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Ask for Kyle Dietrich. Great guy.


Will do so - many thanks again TrippleGGG!
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Old 03-27-2019, 09:55 PM   #16
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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”
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Old 03-27-2019, 10:00 PM   #17
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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.
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Old 03-27-2019, 10:29 PM   #18
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You are welcome!
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Old 03-27-2019, 11:50 PM   #19
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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.
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Old 03-28-2019, 07:03 AM   #20
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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.
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