Reply
 
Thread Tools Search this Thread Display Modes
 
Old 02-26-2018, 04:21 PM   #61
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by Group9 View Post
We took the higher coverage for less premium. Who knows what the hell it would actually pay out if it sunk?

I don't even try to understand insurance any more.
Actually you didn't get higher coverage. You got market value for less premium. You also got depreciated value for partial losses in addition to full losses.
__________________
Advertisement

BandB is offline   Reply With Quote
Old 02-26-2018, 04:59 PM   #62
Guru
 
Group9's Avatar
 
City: Bay Saint Louis, Mississippi, (or where the anchor drops)
Vessel Model: 1973 42 Bertram MY
Join Date: Sep 2013
Posts: 1,140
Quote:
Originally Posted by BandB View Post
Actually you didn't get higher coverage. You got market value for less premium. You also got depreciated value for partial losses in addition to full losses.
None of it makes any sense to me. It's like tax returns. You take them to five differnt people, get five different returns, and every preparer can tell you why he's the only one who is right.

I'm sure it all makes sense in a room full of insurance folks. I can't be too critical. They probably wouldn't understand what I did for a living, either.
__________________

__________________
"It's the tides. They can work for you, and they can work against you. And, confidentially, I've had this problem with the tides before." Captain Ron
Group9 is offline   Reply With Quote
Old 02-26-2018, 05:51 PM   #63
Veteran Member
 
newbernbuck's Avatar
 
City: New Bern, NC
Vessel Name: HALLIN
Vessel Model: Mainship 34 MK1 1982
Join Date: Feb 2016
Posts: 64
Just got my March renewal from Geico. Almost doubled in price, but suspect it would be even higher if I went anywhere else.
newbernbuck is offline   Reply With Quote
Old 02-26-2018, 05:57 PM   #64
Guru
 
BruceK's Avatar
 
Join Date: Oct 2011
Posts: 11,753
Quote:
Originally Posted by Hamrow View Post
We were one of the folks with Falvey.. . as we fill out new insurance applications, we won't have to talk about "not being renewed" since its not about anything we did.
...
Here at least, I`d think you`d have to disclose it,even in those circumstances. Especially if asked.
__________________
BruceK
2005 Integrity 386 "Sojourn"
Sydney Australia
BruceK is online now   Reply With Quote
Old 02-27-2018, 09:41 AM   #65
FF
Guru
 
FF's Avatar
 
Join Date: Oct 2007
Posts: 21,364
"Just got my March renewal from Geico. Almost doubled in price, but suspect it would be even higher if I went anywhere else."

You wont KNOW till you ask,
FF is offline   Reply With Quote
Old 02-27-2018, 12:32 PM   #66
Guru
 
Heron's Avatar
 
City: Cypress Landing Marina (NC)
Vessel Name: Heron (2)
Vessel Model: '88 Cape Dory 28 Flybridge #115
Join Date: Nov 2014
Posts: 1,303
Quote:
Originally Posted by newbernbuck View Post
Just got my March renewal from Geico. Almost doubled in price, but suspect it would be even higher if I went anywhere else.
Mine renewed in November for about a $150 increase to $850. Same area, similar value I'd guess...

Who knows....seems to be voodoo economics at play
__________________
Steve
Heron is offline   Reply With Quote
Old 02-27-2018, 03:30 PM   #67
Guru
 
twistedtree's Avatar
 
City: Gloucester, MA
Join Date: Jan 2013
Posts: 6,181
Quote:
Originally Posted by BruceK View Post
We had a severe east coast low here a couple of years back.I heard Pantaenius sent owners of boats on swing moorings an SMS saying to go out and check their moorings. There was 35 knots of wind and driving rain, not something I`d want to do in a rowing dinghy, which is what most insureds would use.
That's brilliant. Life over material goods - not.
__________________
MVTanglewood.com
twistedtree is offline   Reply With Quote
Old 03-01-2018, 04:18 AM   #68
TF Site Team
 
Bay Pelican's Avatar
 
City: Chicago, IL
Vessel Name: Bay Pelican
Vessel Model: Krogen 42
Join Date: Oct 2007
Posts: 2,994
Reply to comment on Panteneius (not my insurer). Panteneius and Panteneius USA are two different companies. Panteneius will not insure an American flagged vessel. Panteneius USA is a New York based company that sells insurance which is underwritten/covered by two US companies.
__________________
Marty
Bay Pelican is offline   Reply With Quote
Old 03-01-2018, 11:04 AM   #69
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by Bay Pelican View Post
Reply to comment on Panteneius (not my insurer). Panteneius and Panteneius USA are two different companies. Panteneius will not insure an American flagged vessel. Panteneius USA is a New York based company that sells insurance which is underwritten/covered by two US companies.
The last time I was quoted by Pantaenius American Yacht insurance, the underwriters were AGCS, Liberty Mutual, and Torus. That has been a few years.

Similarly, Lloyd's isn't the insurer either on their policies. They are simply a rather elaborate marketplace and corporate unit actually governed by their own law in the UK starting with the Lloyd's Act of 1871.
BandB is offline   Reply With Quote
Old 03-03-2018, 11:50 AM   #70
Guru
 
sbu22's Avatar
 
City: New Orleans
Vessel Name: Panache
Vessel Model: Viking 43 Double Cabin '76
Join Date: Mar 2011
Posts: 1,291
Starting to get responses to my inquiries. Have three quotes in hand, awaiting two more. Alleviates my concern that she is "uninsurable" - on a practical basis - I know you can insure virtually any exposure - for a price.

The two lowest quotes are virtually identical in terms of $ and coverage. Similar coverage to the non-renewed policy. That's a very preliminary eval on the coverage. I have homework to do this weekend.

The third, from one of the "high end" outfits, is 100% higher premium, with a lot of "extras." I think they're the people I'd be talking to if I had a new 62 Nordy - not so much my antique.

Appreciate the advice and encouragement.
sbu22 is offline   Reply With Quote
Old 03-03-2018, 01:35 PM   #71
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by sbu22 View Post
Starting to get responses to my inquiries. Have three quotes in hand, awaiting two more. Alleviates my concern that she is "uninsurable" - on a practical basis - I know you can insure virtually any exposure - for a price.

The two lowest quotes are virtually identical in terms of $ and coverage. Similar coverage to the non-renewed policy. That's a very preliminary eval on the coverage. I have homework to do this weekend.

The third, from one of the "high end" outfits, is 100% higher premium, with a lot of "extras." I think they're the people I'd be talking to if I had a new 62 Nordy - not so much my antique.

Appreciate the advice and encouragement.
You're experiencing what so many do in all types of insurance. It happens on boats, autos, homes, and businesses. Insurer one has been with dramatically raises rates or refuses to renew (generally won't refuse on cars and homes in FL since they're state regulated, but sure will raise rate) and you shop and find someone else still reasonable.

Insure anything for a price sounds like Lloyd's theme song. lol
BandB is offline   Reply With Quote
Old 03-13-2018, 11:40 AM   #72
Guru
 
sbu22's Avatar
 
City: New Orleans
Vessel Name: Panache
Vessel Model: Viking 43 Double Cabin '76
Join Date: Mar 2011
Posts: 1,291
After going through myriad conditions, exclusion, whereases, limits, deductables etc. etc. (and with the able assistance of my insurance broker pier neighbor), it turns out that BoatUS/Geico had the best package. That results in an approx 9% increase over what it cost last year for marginally less coverage.

Still recovering from the two week whiplash of “no renewal” to seven quotes – four of which were suitable for my boat/usage and competitively priced. One quote was interesting and promptly rejected – really good price (about 20% below the competitive others) – reading the fine print, discovered it did not cover named storms, unnamed storms, depressions, etc. – anything above a fresh breeze, apparently. Caveat emptor.

Thank you all, again, for the assist.
sbu22 is offline   Reply With Quote
Old 03-13-2018, 04:47 PM   #73
Guru
 
Tom.B's Avatar
 
City: Cary, NC
Vessel Name: Skinny Dippin'
Vessel Model: Navigator 4200 Classic
Join Date: Jul 2009
Posts: 5,787
Quote:
Originally Posted by sbu22 View Post
it did not cover ... depressions
It's always important to keep your boat's emotional state in a happy-place, otherwise, you may not get good insurance.
__________________
2000 Navigator 4200 Classic
(NOT a trawler)
Tom.B is offline   Reply With Quote
Old 03-13-2018, 05:47 PM   #74
Guru
 
Moonfish's Avatar


 
City: Port Townsend, WA
Vessel Name: Traveler
Vessel Model: Cheoy Lee 46 LRC
Join Date: Nov 2011
Posts: 1,178
Quote:
Originally Posted by Tom.B View Post
It's always important to keep your boat's emotional state in a happy-place, otherwise, you may not get good insurance.
__________________
Darren
Port Townsend, WA
m/v Traveler - '79 Cheoy Lee 46 LRC
https://www.pacificnwboatertested.com
Moonfish is offline   Reply With Quote
Old 06-05-2018, 07:36 PM   #75
Senior Member
 
Miz Trom's Avatar
 
City: Spring Hill, Florida
Vessel Name: Mariso
Vessel Model: 43-ft American Boatworks custom
Join Date: Aug 2015
Posts: 381
Best insurance agent EVER! HanHam Insurance!

If you want AWESOME customer service, with all your questions answered clearly by someone happy to guide you through all of the ins-and-outs, you must use Hugo.

Hugo is a true gift in the insurance agency business. He recently helped us modify our policy when our new boat was finally delivered after June 1st in Florida, and it now needs lots of repairs - so it has to stay in Florida for now.

He took extraordinary good care of us by answering all of our emails promptly and calling us right away when he had questions for us. We had numerous enlightening discussions regarding our options; and his knowledge concerning the marine insurance industry was phenomenal.

It is also going to be great to have him on our side if we ever have to file a claim.
We can't recommend him highly enough. You can reach him here:
HANHAM INSURANCE AGENCY
Yachts, Boats, Marine

Hugo Hanham-Gross
T: +1 843 410 2990
E: hugo@hanhaminsurance.com
W: www.hanhaminsurance.com


Hugo handles boat insurance anywhere, too, not just the U.S.A.

_______________________________
Pea & Dan
with pooches Birdie & Lucy
Miz Trom is offline   Reply With Quote
Old 06-05-2018, 08:15 PM   #76
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by Miz Trom View Post
If you want AWESOME customer service, with all your questions answered clearly by someone happy to guide you through all of the ins-and-outs, you must use Hugo.

Hugo is a true gift in the insurance agency business. He recently helped us modify our policy when our new boat was finally delivered after June 1st in Florida, and it now needs lots of repairs - so it has to stay in Florida for now.

He took extraordinary good care of us by answering all of our emails promptly and calling us right away when he had questions for us. We had numerous enlightening discussions regarding our options; and his knowledge concerning the marine insurance industry was phenomenal.

It is also going to be great to have him on our side if we ever have to file a claim.
We can't recommend him highly enough. You can reach him here:
HANHAM INSURANCE AGENCY
Yachts, Boats, Marine

[/URL]


Hugo handles boat insurance anywhere, too, not just the U.S.A.

_______________________________
Pea & Dan
with pooches Birdie & Lucy
I don't know Hugo but one thing I'd add in his favor is he represents all the major marine insurers, 11 insurers. This gives him the ability to place a policy with whomever is best for you. Also, in a non-renewal like the OP, then a nice multi-line agent like Hugo would be best equipped to find an alternative.
BandB is offline   Reply With Quote
Old 06-06-2018, 06:30 PM   #77
Veteran Member
 
City: Houston
Join Date: Aug 2016
Posts: 71
My insurance company sent me a nice email thanking me for being a loyal customer, right before Harvey hit Houston (home). I thought, "How kind and appreciative of them". The next sentence in the email reminded me of my Hurricane Preparedness Plan that I wrote up for them and promised to follow. I did NOT think "How kind and appreciative of them". Apparently, I had a good plan (I can pull out) - no issues - no claims. Then they rose my insurance premiums. I guess I get to pay for others who didn't follow a Hurricane Preparedness Plan as effective as mine.

Not knocking anyone who sustained losses - just trying to add a little humor to the subject.

Great thread by the way - learned a lot. Thanks all.

Todd
Todd2 is offline   Reply With Quote
Old 06-07-2018, 04:39 AM   #78
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by Todd2 View Post
The next sentence in the email reminded me of my Hurricane Preparedness Plan that I wrote up for them and promised to follow.
You scared me with these words, "promised to follow." Please people don't make such promises. These are plans you'll consider and may follow but making promises of what you'll do in the event of a hurricane is going too far. What if the yard that was to pull it out, won't or can't? What if you can't move it to get it where you planned? What if your family has more critical issues such as spouse and kids at home who need you there? What if you and your spouse are on a vacation in Italy? A "plan" should never be a "promise". Very big difference between the two words. I'm thinking you didn't really promise but just want to reiterate that isn't what one should do or what is required. I always suggest wording in your plan too that makes it clear and ultimately you may or may not follow any of the plan.
BandB is offline   Reply With Quote
Old 06-07-2018, 08:20 AM   #79
Veteran Member
 
City: Houston
Join Date: Aug 2016
Posts: 71
Quote:
Originally Posted by BandB View Post
You scared me with these words, "promised to follow." Please people don't make such promises. These are plans you'll consider and may follow but making promises of what you'll do in the event of a hurricane is going too far. What if the yard that was to pull it out, won't or can't? What if you can't move it to get it where you planned? What if your family has more critical issues such as spouse and kids at home who need you there? What if you and your spouse are on a vacation in Italy? A "plan" should never be a "promise". Very big difference between the two words. I'm thinking you didn't really promise but just want to reiterate that isn't what one should do or what is required. I always suggest wording in your plan too that makes it clear and ultimately you may or may not follow any of the plan.
Sorry, poor choice of words, on my part. You are correct. The paperwork actually asks for your first plan, then for an alternate plan in case you cannot carry out the first plan, then a name of someone else who may respond if you are unable to get to your boat (on vacation in Italy) to implement your first plan or your alternate plan. So I never "promised" to do anything. It was all worded as "I may choose to do...". The paperwork I filled out actually required alternatives.

This is actually a very good point to bring up ,because this paperwork could be used against you in court. I learned to make this distinction while researching online (maybe even on this site) how to write up a plan. I'll conclude with "I am not a lawyer, anything I say is just my opinion and should not be taken as a factual truth". You know what they say bout free advice on the internet. So much for my first post.

Todd
Todd2 is offline   Reply With Quote
Old 06-07-2018, 12:49 PM   #80
Guru
 
BandB's Avatar
 
City: Fort Lauderdale
Join Date: Jan 2014
Posts: 19,621
Quote:
Originally Posted by Todd2 View Post
Sorry, poor choice of words, on my part. You are correct. The paperwork actually asks for your first plan, then for an alternate plan in case you cannot carry out the first plan, then a name of someone else who may respond if you are unable to get to your boat (on vacation in Italy) to implement your first plan or your alternate plan. So I never "promised" to do anything. It was all worded as "I may choose to do...". The paperwork I filled out actually required alternatives.

This is actually a very good point to bring up ,because this paperwork could be used against you in court. I learned to make this distinction while researching online (maybe even on this site) how to write up a plan. I'll conclude with "I am not a lawyer, anything I say is just my opinion and should not be taken as a factual truth". You know what they say bout free advice on the internet. So much for my first post.

Todd
Excellent clarification and very good post. This is an important point and you made it well too. Many people do take a plan as a firm commitment and it could be one if improperly worded. Your approach is exactly like ours except for our one strong disclaimer that says we may do none of the options.

Also, leaving the boat tied exactly where it is may be part of the plan. People get asked for a hurricane plan and often assume it means they must have a plan to move the boat elsewhere or pull it out of the water. The majority in Florida do not move their boats and the majority do not have damage. Unfortunately, there are storms that cause massive damage in specific areas.
__________________

BandB 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



» Trawler Port Captains
Port Captains are TF volunteers who can serve as local guides or assist with local arrangements and information. Search below to locate Port Captains near your destination. To learn more about this program read here: TF Port Captain Program





All times are GMT -5. The time now is 08:34 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0
Copyright 2006 - 2012
×