Markel Insurance "wind coverage" ?

[The Brockerts]

Has anyone gotten or looked at the fine print in a Markel Insurance policy that requires you to put the boat on the hard or move it out of the path of a named storm? After reviewing some of the "insurance" threads on TF, I'm guessing the insurance name for this would be "wind coverage". Working thru the costs associated with these requirements of moving a Carver 48 to the hard, 3 hours one way for me, haulout cost and storage cost, this could get expensive real fast. I'm looking at $3K-$4K per storm at best case. I'm in Corpus Christi, Texas and in the last few years I'm guessing I'd be doing this once or twice per year.

The Brockerts

 

[SoWhat]

Your marina lease probably has the same clause. You are in the hook for any damage your boat does to the marina.

 

[psneeld]

My last two policies reimburzed me somewhat for that requirement. Last one was a bit low but the only time I used it, it covered the haul and block.

 

[RT Firefly]

Greetings,
Mt. TB. I know nothing about Markel insurance. Are they strictly a marine underwriter? Do they know boats?


The reason I ask is some years ago our insurance company, whom we had been with for about 10 years, changed their policy regarding named storms and required us to haul or no coverage. We were about 5 miles up the Pasquatank (sp?) river in Elizabeth City, NC. Quite sheltered and considered, by the locals at least, to be a secure hurricane hole.


Closest yard to haul was in Wanchese NC. on Roanoke Island on The Outer Banks an area notorious for getting slammed by pretty well EVERY hurricane that ran up by Cape Hatteras. I asked our agent if the underwriter wanted us to knowingly move our boat from a harbour of safety into the path of a hurricane. She said yes. Nothing could convince her OR the underwriter of the insanity of this. We promptly changed companies. YMMV.

 

[Mermaid]

That is exactly why I $hit-canned that Markel policy. I was one of the GEICO insureds who got cancelled when GEICO cancelled all policies that had been bought through an agent. GEICO ended their agency relationship. I wanted to stay with GEICO, but they would not even quote me until my policy with them expired - it had something to do with their not infringing upon the agents’ customers. That would have left me exposed during the time from applying from insurance the first day I became uninsured, until they actually approved and wrote the policy. I couldn’t risk that, so my agent sold me the Markel policy and I had to agree to that stupid wind coverage clause against my will. I’m in Miami, so nearly zero options for marine insurance.

As soon as I got to the point where I could get all of my unused premium back without penalty, I got rid of Markel and went back to GEICO.

The clause, generally didn’t bother me because I haul out from August 1 to November 1, anyway, but in the event we had a freak storm in July, and it has happened, that would have left me uninsured for that kind of damage if I were to sustain any. Too risky for me. It takes me 3 days of traveling north to get to a place where I could haul out for a storm. South Florida - not enough real estate to haul out all the boats that are down here.

 

[Shrew]

Has anyone gotten or looked at the fine print in a Markel Insurance policy that requires you to put the boat on the hard or move it out of the path of a named storm? After reviewing some of the "insurance" threads on TF, I'm guessing the insurance name for this would be "wind coverage". Working thru the costs associated with these requirements of moving a Carver 48 to the hard, 3 hours one way for me, haulout cost and storage cost, this could get expensive real fast. I'm looking at $3K-$4K per storm at best case. I'm in Corpus Christi, Texas and in the last few years I'm guessing I'd be doing this once or twice per year.

I honestly think that $3-4K is probably a very high estimate. I would talk to as many marinas, regionally, as I could AHEAD of the hurricane season. In some places in the South East US, marinas will have a 'Storm Haul' contract. You pay a seasonal fee to guarantee a location in the yard and a fixed fee to haul, block and re-launch.

Once a storm has been named and the forecast models have all published their predictions, forming the 'spaghetti model', is not the time to start calling around.

 

[The Brockerts]

I honestly think that $3-4K is probably a very high estimate. I would talk to as many marinas, regionally, as I could AHEAD of the hurricane season. In some places in the South East US, marinas will have a 'Storm Haul' contract. You pay a seasonal fee to guarantee a location in the yard and a fixed fee to haul, block and re-launch.

Once a storm has been named and the forecast models have all published their predictions, forming the 'spaghetti model', is not the time to start calling around.

Yep, that is exactly what I've been doing. These yards don't want to hold open a space for you when they can fill it with a paid customer for maintenance and then when a storm comes they can't move that maintenance customer out. My marina has 350 boats, and yard space for 6 boats. Sometimes the haulout wait is more than a month. Right now I'm on the list for December.

The Brockerts

 

[Raggamuffincaptain]

I have the same exceptions with Markel. My plan is to run away from the storm . Not much else you can do.