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Old 11-22-2021, 09:09 AM   #1
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Insurance Wanted!

They are a difficult risk due to no large boat experience plus leaving boat unattended for long periods of time. So, when you get this message regarding insurance, what do you do? We plan to have a captain until we are proficient, and we plan to store the boat at River Forest in LaBelle or Stewart, FL.
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Old 11-22-2021, 09:24 AM   #2
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While I think the boat plan is a good one, expecting an insurance company to cover your boat before you attain proficiency is tough. Insurance companies are suffering lots of claims from new boaters buying big boats as opposed to traveling out of the country during the pandemic. I expect the industry is going to get tougher in this area going forward.

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Old 11-22-2021, 10:11 AM   #3
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What I had to do in a similar situation is to have a named captain to be insured under his/her record. Then when the captain signs you off, you submit to get yourself insured to captain the boat. This is a fairly typical process. As for an unattended boat, is there a service that will check on it weekly when you are not available or can you if close?
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Old 11-22-2021, 11:04 AM   #4
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bowball:We have forwarded the information/resume of the captain to the insurance broker. We have also explained that we intend to have the boat hauled out and stored in a climate controlled (can handle high winds) environment. There have been so many issues to work out, and this is supposed to be what we want to do in our retirement!
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Old 11-22-2021, 11:22 AM   #5
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bowball:We have forwarded the information/resume of the captain to the insurance broker. We have also explained that we intend to have the boat hauled out and stored in a climate controlled (can handle high winds) environment. There have been so many issues to work out, and this is supposed to be what we want to do in our retirement!
I know what you mean about stress! What’s the right size, could You handle it, where to keep it, can you get it insured, what’s the inspection mean, hiring the training captain , etc etc. Trust me, it gets better!

It sounds though that you have it under control as to your steps you are taking.

I think it’s all worth it.
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Old 11-22-2021, 01:06 PM   #6
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Ditto to all of that. Every time we get a question answered, it brings up 7 more questions. We are so close-children on their own, house sold, boat under contract, survey lined up, but INSURANCE.... We chartered almost every year for spring break with our children and had such fun times-memories. Now, we aren't experienced enough. So sad.
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Old 11-22-2021, 01:15 PM   #7
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Ditto to all of that. Every time we get a question answered, it brings up 7 more questions. We are so close-children on their own, house sold, boat under contract, survey lined up, but INSURANCE.... We chartered almost every year for spring break with our children and had such fun times-memories. Now, we aren't experienced enough. So sad.
Iíd use an experienced marine insurance broker if you arenít. It will make the prices easier and wonít add to the cost. I was lucky as I had decades of insurance through AIG which has good boat policies; nonetheless, I still was concerned until I got the binder!
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Old 11-23-2021, 07:30 AM   #8
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River Forrest is a very high end yard.

I am sure they could check the boat while floating as often as you desire .

The inside climate controlled storage is done so they take the hurricane risk, rather than the owner.
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Old 11-23-2021, 08:15 AM   #9
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Which model is it? How big?
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Old 11-23-2021, 10:47 AM   #10
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this insurance thing is really getting crazy. i was informed by the company processing my documentation that in washington state, on a vessel more than 40 years old, you have to have an insurance binder before the state will transfer ownership. these new rules, and the more stringent requirements by the insurance companies is making it really difficult for someone to get into the boating lifestyle.
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Old 11-23-2021, 10:54 AM   #11
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Why just over 40 years old. If gov wants to dictate, why not any boat sale. After all it is not just the boat, the operator also has to pass insurance means test.
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Old 11-23-2021, 11:00 AM   #12
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Why just over 40 years old. If gov wants to dictate, why not any boat sale. After all it is not just the boat, the operator also has to pass insurance means test.
i think it has more to do with derelict vessels. maybe the state figures a 40 year old boat is more likely to become derelict.
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Old 11-23-2021, 11:05 AM   #13
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i think it has more to do with derelict vessels. maybe the state figures a 40 year old boat is more likely to become derelict.
Point exactly, a 39 year old boat? Bureaucrats!
Any boat that needs a new engine could become a derelict overnight.
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Old 11-23-2021, 11:13 AM   #14
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Point exactly, a 39 year old boat? Bureaucrats!
Any boat that needs a new engine could become a derelict overnight.
agreed. it's just more hoops to jump through. there must be fees collected in this requirement too. the gov't loves it's fees.
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Old 11-23-2021, 12:11 PM   #15
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Point exactly, a 39 year old boat? Bureaucrats!

Any boat that needs a new engine could become a derelict overnight.


I agree, so liability, salvage, and cleanup insurance should be mandatory in ALL boats regardless of age.
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Old 11-23-2021, 12:15 PM   #16
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I agree, so liability, salvage, and cleanup insurance should be mandatory in ALL boats regardless of age.
i agree to a point. there are many boats on the hard, or undergoing restoration that no insurance company will touch. in washington you can't transfer ownership to someone who would undertake the project. perfectly good boats will be scrapped.
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Old 11-23-2021, 02:03 PM   #17
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i agree to a point. there are many boats on the hard, or undergoing restoration that no insurance company will touch. in washington you can't transfer ownership to someone who would undertake the project. perfectly good boats will be scrapped.
Maybe the solution is similar to autos. They canít be legally registered for use until insurance is put on them. So ownership can transfer. But not licensed until insured.
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Old 11-23-2021, 03:11 PM   #18
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Maybe the solution is similar to autos. They canít be legally registered for use until insurance is put on them. So ownership can transfer. But not licensed until insured.
that would be a good solution in my mind. i should call the state and ask for them to do just that.
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Old 11-23-2021, 06:29 PM   #19
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They are a difficult risk due to no large boat experience plus leaving boat unattended for long periods of time. So, when you get this message regarding insurance, what do you do? We plan to have a captain until we are proficient, and we plan to store the boat at River Forest in LaBelle or Stewart, FL.
I don't search for insurance. I search for insurance brokers. Many excellent ones have been mentioned on this forum and one is a regular here. Other boaters in your area should know them. But find a good broker and let them do the work for you.
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Old 11-28-2021, 09:45 AM   #20
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There are lots of companies insuring boaters find another one

Quote:
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bowball:We have forwarded the information/resume of the captain to the insurance broker. We have also explained that we intend to have the boat hauled out and stored in a climate controlled (can handle high winds) environment. There have been so many issues to work out, and this is supposed to be what we want to do in our retirement!
find another company to insure you
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