Insurance MLE-C Endorsement

[Alaskan Sea-Duction]

So my insurance is coming due and I recieved a notice that a MLE-C Endorcement was being added to my policy. This basically is removing coverage of all my engines due to age (1988), unless I provide recipients for a repower.

Has anyone else had this issue? What was you solution?

 

[psneeld]

Yep, 1988 boat and they terminated mine also. Also a year for a thorough sef survey. My boat had a rebuild put in 2009 so they reinstated my full coverage.

Show low hrs and full servicing documentation and see if that works.

 

[Comodave]

I have Geico through Boat/US. For $20 I got a waiver on the depreciation of engines older than the 20 year age.

 

[Alaskan Sea-Duction]

So no waivers, so looking for new insuance? Recommendations any one? Called GEICO. Close cost to what I have....

 

[klee wyck]

I had a little turbulence in underwriting this year but turned out well.
I had been underwritten by the Lloyds syndicate for the past few years but apparently they did not fare well last year in the big storms. Quotes this year were very close to double.
We put out RFP to several companies and ended up going with Merkel on both boats at lower cost than previous year and no more restrictions. Both older boats and other than some restrictions in navigation relative to latitude which were in the previous coverage, there were no hard questions on my two old boats.
No claims to test but recommend them as worth a look. My North latitude restriction would not work for you but there is likely a workaround available that I did not pursue.

 

[Alaskan Sea-Duction]

I had a little turbulence in underwriting this year but turned out well.
I had been underwritten by the Lloyds syndicate for the past few years but apparently they did not fare well last year in the big storms. Quotes this year were very close to double.
We put out RFP to several companies and ended up going with Merkel on both boats at lower cost than previous year and no more restrictions. Both older boats and other than some restrictions in navigation relative to latitude which were in the previous coverage, there were no hard questions on my two old boats.
No claims to test but recommend them as worth a look. My North latitude restriction would not work for you but there is likely a workaround available that I did not pursue.

Merkel?

 

[klee wyck]

ASD,
I apologize for my sloppiness....

Markel

 

[klee wyck]

One million for all three liabilities (p/I, spill, and underinsured) and full hull coverage from r around $4.5/thousand.