boat insurance - help needed

[alex]

Hi guys

I am buying a wharram in Canada, but I am a non-resident so the few companies I have contacted so far rejected to take the risk.

As i cannot travel along the intracoastal water way (ICW) without insurance (USA requirement) I would know if someone can help me in finding an insurance company that would take the risk. I will cruise the caribbean and then around the world on the barefoot route.

An option would be to register the boat in USA (Delaware) using an american corporate and get an insurance there , but I would prefer to keep the Canadian flag..

Prompt help/answers would be very useful, since i am flying on sept 4th to Canada to make the deal.

Thank you for stopping bye .....

Alex
(another wharram fan from Uruguay)

[andy solywoda]

Hello Alex,
I am not aware of this requirement. Do you mean Intracoastal waterway or new york state barge canal? You can get to the Caribbean without using the ICW, in fact it might be better to go NY, Ocean City, and then shoot straight down to St. Martin or Virgins. This time of year better to stay north till late October. Tow boat insurance is nice to have if you run aground as much as I do.
Captn Andy and the Kaimu Crew

[Ann and Neville Clement]

Our experience is that a US address is not an advantage because Americans because we have a reputation as being so often involved in legal actions. Also I think the Canadian flag will be better received in many areas currently. You might want to try our company, Saint Margaret's in Britain. Last time I tried to get Pantaenius in Britain they said they did not insure any catamarans, but they are a good company and allow single handing, so you might want to see if they have changed their policy. Please let us all know what you find out. And congratulations on buying the boat plus good luck on your nice barefoot voyage. Ann and Nev

[alex]

Hello ann & nev

thank you for the advice, i will be glad to post here what my findings are....i hope to meet some of wharram´s owners in my way to south next year......... fair winds....

[Marty Peters]

Hi Alex,

I have had the same problems getting coverage, I have purchased a tiki 46 in south africa and registered her on the ukSSR part 3, and was refused by every company i applied to based in the uk and the german outfit recommended by wharram called preuss. I can confirm that panteneus will not cover wharram catamarans but don't know if that applies to all cats. I was also declined by my current insurers of my Tiki30 in thailand ( 9 years without a claim!), QBE as they didn't want to insure in south africa.

I am using a south african broker called Steve Slatter Insurance Brokers and the policy is underwritten by Lion of South Africa. I ended up getting the minimum cover i could, as i wanted to keep the price as low as possible for now as once i have delivered to richards bay i will be on the hard for up to 6 months. My policy is for the purchase price of the boat, the delivery and then 12 months on the hard and works out at about 500 GBP. I will arrange additional cover once i have finished renovations and expect the cruising coverage to be around 1200 -1500 gbp a year with extra payments due and higher excess's if i make a blue water crossing, ie cape town to rio. I think the blue water cover is an extra 150gbp ... oh and no single handing of more than 100 miles...

I would be interested to hear what other owners pay and who they are with, what cruising grounds etc as i was really surprised to find getting cover was so difficult.

Cheers and i hope you find coverage..

Marty

[alex]

it seems that all here have some issues with the insurance.... i will make a full report of what my findings are... for now i need as many contacts and experience i can get... Luis , the other wharram 38 fellow here in Uruguay, told me about a company in spain that was covering him for a decent price.... the point is that if something occur... will they pay at all????

[Marty Peters]

Hi Alex,

I would add that I think that the bigger issues for me getting insurance was, cruising in a different country from registration, (ie: half way around the planet from the registration country, especially as SA is the supposedly the most dangerous and challenging of waters, of which i have no experience..), and the terms World cruising / blue water crossing.

I never had a problem insuring my thai registered tiki 30 for local cruising in thailand, and the policy was very reasonable.

Maybe you should try to get "local" coverage and then expand the policy once you have had it for a while and as you travel further and further afield, rather than going down the world cruise route straight away....... I am going to try this but i have already been informed by the broker that it is possible to obtain world coverage.. albeit at a higher price. I am going to be specifying what countries i need cover for by a year by year basis rather than going for the total world cover when blatantly i am not going to be round the world within a year.

Anyway good luck

Marty

[alex]

i am ready to have 3rd part liability only if i cannot get a full coverage... and i would pay more for the first year till i can find a better deal later...

Nok Talay said:

Hi Alex,
I would add that I think that the bigger issues for me getting insurance was, cruising in a different country from registration, (ie: half way around the planet from the registration country, especially as SA is the supposedly the most dangerous and challenging of waters, of which i have no experience..), and the terms World cruising / blue water crossing.
I never had a problem insuring my thai registered tiki 30 for local cruising in thailand, and the policy was very reasonable.

Maybe you should try to get "local" coverage and then expand the policy once you have had it for a while and as you travel further and further afield, rather than going down the world cruise route straight away....... I am going to try this but i have already been informed by the broker that it is possible to obtain world coverage.. albeit at a higher price. I am going to be specifying what countries i need cover for by a year by year basis rather than going for the total world cover when blatantly i am not going to be round the world within a year.

Anyway good luck

Marty

[Budget Boater]

Is the US Government requiring you to carry insurance because your boat will be registered outside of the US? The reason I ask is because I have traveled the intracoastal waterway many times with no insurance. No one ever even asked if I carried insurance.

You may want to consider creating a Trust and putting the boat in the name of a Trust. Be creative and name it something like: U.S. Waterway Trust. You would not have to tell some idiot bureaucrat (insurance, government or otherwise) that it actually stood for "Uruguay Sailing Waterway Trust." They would just assume it stood for United States Waterway Trust and then further assume it was a US vessel. If they don't ask, you don't tell. Get it?

Have you looked into getting a liability "umbrella" policy?

[alex]

hello cinthia/JP

Thank you for your interest... yes i would need some help in that since my french is too basic for legal details and webtranslators are always wrong... please contact me directly to my e-mail add: [e-mail]

BTW... I had wonderful time watching your website about the boat construction... You encourage me to make a W46 for myself... but this will be another project in my life.. for now i will focuse my energies on the W38 i am willing to buy... she looks looooovely...

alex
fair winds

[andy solywoda]

Hello,
I had met Susan Ratrie, who is a marine insurance broker, while she was doing the bottom of their Maine Cat 41 at Pleasure Cove. She has a website, search for Tabby Cat or tabbycatus, and also she has Skype. She conducts business on board. I need to upgrade my insurance later this year and will contact her first.
Captn Andy and the Kaimu Crew

[alex]

Thank you andy...

I will make a complete report about my findings ..... i found her website on: http://www.tabbycat.us/index.htm

cheers

alex

andy solywoda said:

Hello,
I had met Susan Ratrie, who is a marine insurance broker, while she was doing the bottom of their Maine Cat 41 at Pleasure Cove. She has a website, search for Tabby Cat or tabbycatus, and also she has Skype. She conducts business on board. I need to upgrade my insurance later this year and will contact her first. Captn Andy and the Kaimu Crew

[patrick lennon]

Hi Alex. I tried to contact you about your boat for sale Tiki 38. Do you still own it. Pat