Thread: ABYC Standards
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Old 02-04-2016, 02:44 PM   #91
BandB
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City: Fort Lauderdale. Florida, USA
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Quote:
Originally Posted by twistedtree View Post
I'm just curious..... Does anyone's insurance policy actually say that the boat must meet ABCY standards?

And if you are seeking out a new insurance co, it's probably worth asking if they require that the boat meet ABCY standards for them to insure it. And then ask the proposed surveyor what standards they are evaluating to boat against. Then at least you will know the rules going in and can call foul if someone starts making up new rules.

Also, for better or worse, Insurance companies are in the business of making money, and will seek out the highest return policies they can, and shed the lowest return policies. You should expect nothing less. I've been "non-renewed" when their parameters have changed, and I've "non-renewed "them when their policy restrictions have changed. It's all part of a market economy.
I try to insure with ones who I know are most likely to continue to cover. I learned long ago in insuring a building in Jamaica where companies were changing policies annually, so we just went to Lloyd's finally.

Our policy at no point mentions ABCY. It is focused on maintaining the condition as it was at survey and notification of any significant change impacting the safe use of the boat. Now, indirectly ABCY is included because it's within the context of the survey.
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