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KarinH

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Joined
Nov 13, 2017
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So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
 
How small a trawler?
 
KarinH said:
So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
Click to expand...

If you have a captain, let him be in charge for insurance purposes. Perhaps after 6 months, you can get someone to write you.

But, need an opinion from and insurance pro.
 
Thanks Seevee, will talk to Captain, he is the original owner and I plan to buy from him...
 
Did you ask them what you need to do to qualify for insurance?
 
Also might ask your home owners insurance company if they will insure you.
 
Comodave said:
Did you ask them what you need to do to qualify for insurance?
Click to expand...



The gentleman was not very forthcoming, after I asked him what options I have he merely suggested I should see if I can find an insurance company in my “home state”.
 
Boat US didn't have much issue insuring my '24 Express Cruiser with no on the water experience. However that was a couple of decades ago.

Ouch, it was longer than that. Man am I getting old. It was in the late 1990s.
 
Action, maybe now that they use Geiko this has changed. Sadly this might jeopardize my purchase. Will also look into Home Insurance but I read somewhere it is rather limited in its coverage.
 
Call Charter Lakes 800-879-2248. They represent many carriers and should be able to help.
 
The first boat I ever owned was a 29 Ranger Tug. Absolutely no issues getting insurance! I had and still have Preremier Marine. Look for a specialty insurance company.

If you haven’t talked to them already, call Global Marine Insurance. They specialize in Ranger Tugs - this is from the Ranger Tugs website:

“Global Marine Insurance

Email: HTillotson@globalmarineinsurance.com

globalmarineinsurance.com/rangertugs/
888-992-2975”
 
Spinner said:
The first boat I ever owned was a 29 Ranger Tug. Absolutely no issues getting insurance! I had and still have Preremier Marine. Look for a specialty insurance company.

If you haven’t talked to them already, call Global Marine Insurance. They specialize in Ranger Tugs - this is from the Ranger Tugs website:

“Global Marine Insurance

Email: HTillotson@globalmarineinsurance.com

globalmarineinsurance.com/rangertugs/
888-992-2975”
Click to expand...



Spinner - I started my search for quotes today and was so taken aback by the ‘no quote’ that I called it a day. Hoped for advice from this forum and have not been disappointed. So no I haven’t called Global Marine yet! Will most definitely do so tomorrow, I am feeling more optimistic. Thanks so much for the advice.
 
KarinH said:
So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
Click to expand...

It’s a conundrum, to be sure- but let’s look at it from the insuring company’s standpoint. A new boater with a 150k vessel and zero experience, and an agreed value policy that will pay the $150k to the insured if the vessel is a total loss.

It’s a higher risk factor to consider. A risk that many insurers will not even consider.
 
Pau Hana said:
It’s a conundrum, to be sure- but let’s look at it from the insuring company’s standpoint. A new boater with a 150k vessel and zero experience, and an agreed value policy that will pay the $150k to the insured if the vessel is a total loss.



It’s a higher risk factor to consider. A risk that many insurers will not even consider.
Click to expand...



Thanks for this perspective Pau Hana - I am willing to pay a premium for my lack of experience. Imagine insurance refused to cover 16 yr olds in new cars because they lacked 3 yrs experience and never owned a car before...Anyway maybe I will find an insurer willing to insure us today - otherwise my boat dream is dead in the water. No insurance no boat.
 
A 29' boat is not an unreasonable starter boat. I started with a 30' and was told "no" by one or two carriers. That got me very nervous. I called a broker (as someone suggested above) and they found me a policy. After I had a couple years experience with no losses, I changed carriers to someone who gave a better quote based on my past two years experience.

The suggested broker above sounds like a good option, I think I used IMIS - I'm just passing them along so you have a couple choices.

https://www.gowrie.com/Marine-Insurance/IMIS.aspx
 
Bkay said:
A 29' boat is not an unreasonable starter boat. I started with a 30' and was told "no" by one or two carriers. That got me very nervous. I called a broker (as someone suggested above) and they found me a policy. After I had a couple years experience with no losses, I changed carriers to someone who gave a better quote based on my past two years experience.

The suggested broker above sounds like a good option, I think I used IMIS - I'm just passing them along so you have a couple choices.

https://www.gowrie.com/Marine-Insurance/IMIS.aspx
Click to expand...



Many many thanks Bkay! I am very nervous indeed and will definitely pursue this route today. Dreams hinge in this and I guess what will be will be.
 
KarinH said:
Thanks for this perspective Pau Hana - I am willing to pay a premium for my lack of experience. Imagine insurance refused to cover 16 yr olds in new cars because they lacked 3 yrs experience and never owned a car before...Anyway maybe I will find an insurer willing to insure us today - otherwise my boat dream is dead in the water. No insurance no boat.
Click to expand...

16 year old drivers must pass a state approved drivers course before taking the written and practical tests to obtain a drivers license. When they become licensed, there are heavy restrictions on when they can be on the road. With a boat, there is not standardized vetting/training program- stroke the check and go boating.

That said- don’t become despondent!
First, realize that insurance carriers are not automatically looking for reasons to not offer coverage- so give them a reason to say yes:
  • Arrange for some skippered training with the dealer
  • Obtain the state boating card if required in your state
  • Schedule US Power Squadron and/or USCG classes and training
  • If you have a family member or close friend that has good experience, put them on the policy as an operator. This way, you have an experienced operator on the policy.

PM me if you need further assistance.

Pete
 
Pau Hana said:
16 year old drivers must pass a state approved drivers course before taking the written and practical tests to obtain a drivers license. When they become licensed, there are heavy restrictions on when they can be on the road. With a boat, there is not standardized vetting/training program- stroke the check and go boating.



That said- don’t become despondent!

First, realize that insurance carriers are not automatically looking for reasons to not offer coverage- so give them a reason to say yes:

  • Arrange for some skippered training with the dealer
  • Obtain the state boating card if required in your state
  • Schedule US Power Squadron and/or USCG classes and training
  • If you have a family member or close friend that has good experience, put them on the policy as an operator. This way, you have an experienced operator on the policy.



PM me if you need further assistance.



Pete
Click to expand...



Brilliant ideas many many thanks! Will surely drop you a message should I have more questions. Thanks for offering to assist.
 
KarinH said:
So here’s a conundrum. I am hoping to purchase a small trawler. I am brand-new to boating. I did a boating course through Chapman’s and will be under the watchful eye of a captain for the next 6 months until I am comfortable with the boat and handling it. So I contact BoatsUS/Geiko for an insurance quote as I want to get a clear view of my projected expenses. After talking to customer care I get informed that I do not qualify for any insurance coverage through them because I have never owned a boat and do not have 3 yrs experience.
What to do??? I do not want to risk no insurance? Any advice or suggestions?
Click to expand...

Karen,
Go to The TugNuts • Home, at the bottom of the screen will be a link to Global Insurance https://www.globalmarineinsurance.com/ I think they are somehow affiliated with Ranger and check with them Hope this helps
Best,
Keith
 
Pau Hana said:
*]If you have a family member or close friend that has good experience, put them on the policy as an operator. This way, you have an experienced operator on the policy.
Click to expand...
How often an "operator"?

In another insurance thread, truthfulness was emphasised.

Does not the above comment lead to misunderstanding if not encourage playing loose with the truth?

If said close friend is listed as an operator, is there required a minimum number of trips with that operator aboard? Would a policy spell that out without asking?

That seems like an open gate for claim denial when uncle Bob does not accompany me to the fuel dock when everything turns to billowing black smoke and an oil slick.
 
soin2la said:
How often an "operator"?



In another insurance thread, truthfulness was emphasised.



Does not the above comment lead to misunderstanding if not encourage playing loose with the truth?



If said close friend is listed as an operator, is there required a minimum number of trips with that operator aboard? Would a policy spell that out without asking?



That seems like an open gate for claim denial when uncle Bob does not accompany me to the fuel dock when everything turns to billowing black smoke and an oil slick.
Click to expand...



Hi - thanks for your comment, in my case I have the opportunity to be trained hands-on by previous boat owner. The boat will remain in his slip - so I guess I could foresee for the next 6 mnths not going anywhere without him on board. But longer won’t be feasible - so yes it might be an issue to think about. Thanks for pointing it out, I will ask the insurance broker about it.
 
soin2la said:
How often an "operator"?

In another insurance thread, truthfulness was emphasised.

Does not the above comment lead to misunderstanding if not encourage playing loose with the truth?

If said close friend is listed as an operator, is there required a minimum number of trips with that operator aboard? Would a policy spell that out without asking?

That seems like an open gate for claim denial when uncle Bob does not accompany me to the fuel dock and everything turns to billowing black smoke and an oil slick.
Click to expand...

Good question.

Note that I mentioned an "experienced operator" and not a "warranted/named operator".

The difference is that the warranted/named operator is required to be on the vessel in command anytime the vessel is underway. The experienced operator on the policy does not need to be on the vessel at all times while the vessel is underway.

Semantics- yes (legally speaking). As an underwriter, if the agent reports that the new owner has an experienced operator for training on the policy, in conjunction with an initial training program with the dealer, I have no problem offering coverage.

It's the lack of information that puts a damper on things.
 
Pau Hana said:
Good question.



Note that I mentioned an "experienced operator" and not a "warranted/named operator".



The difference is that the warranted/named operator is required to be on the vessel in command anytime the vessel is underway. The experienced operator on the policy does not need to be on the vessel at all times while the vessel is underway.



Semantics- yes (legally speaking). As an underwriter, if the agent reports that the new owner has an experienced operator for training on the policy, in conjunction with an initial training program with the dealer, I have no problem offering coverage.



It's the lack of information that puts a damper on things.
Click to expand...



Thanks for this clarification!! Very useful. I am carefully optimistic at this point. Will keep you posted.
 
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