Insurance USA

[Kelvin McDaniel]

I have now talked on the phone to 20+ insurers. Either the Boat is too old or they don't insure wood or they don't insure cats. Who in the hell do you all get insurance through?

I need to insure a Wharram Narai 42' all wood 1990. In the United States.  

[Ian R]

It must be tough having 20 outfits telling you to GFY!!!! Never mind, you will get used to it if you have a widebeam catamaran/Wharram. If you are 3rd Party in the UK BasicBoat insures without survey. I don't know if there is a US equivalent.

[Axel Grease]

Kelvin, I have had a very similar experience with insurers in the US for my recently launched Tiki 38. In my case the ostensible reason for not providing insurance is that my boat was homebuilt. I was greeted warmly over and over until I told them I built the boat... I was only trying to get liability, not full coverage. I did eventually find some through a broker a friend suggested but I'm not sure if it's going to be approved beyond a 30 day trial period. I think it's pretty expensive too but unfortunately in the Texas Gulf post-Harvey, no-one will let you in without liability. The insurers want a HIN (hull ID number) which of course the boat does not have. Legally a home built boat doesn't need one which makes me think the perhaps they didn't take the homebuilt status into account. And you can't just make a HIN up because it's all tied into manufacturer and is kept on the Federal (USCG) database.

I'm currently looking into getting a State HIN which apparently does work but I'm not from Texas and the process would require me to bring in all my material receipts to prove I paid sales tax on them or have to pay sales tax on the assessed value of the boat. So, in summary it's probably possible but is expensive. Full coverage for my boat would have been over $3500/year. If you would like the name of the broker and a couple of other leads I was given, let me know. 

BTW I have been a member of this group for years, though not active lately but lost my email and had to re-up. I'm wondering if someone like BudgetBoater who is a professional builder can chime in with any ideas about getting or making a HIN?

[Nathan Stanley]

I hope you've found a solution by now, but I wanted to check here on the site after hearing about someone paying over $1200 USD per month for a conventional cat (Leopard). Outrageous!

I did see this company mentioned by Ann and Nev when they owned Peace: St Margaret's. They have merged/been absorbed by Haven Knox-Johnston: https://www.havenkj.com/boat-insurance/yacht-insurance/

I am not yet in need of insurance, but they seem like a good possibility for when I do. 

[Axel Grease]

I did eventually find insurance but let it go after after the first year. It was $1600/year for (very) limited liability only. Plus it would only extend 50 miles offshore and only in the Gulf of Mexico. Good for using to get a mooring g ball or a slip, or even getting into a yard if work or repairs were needed but useless for anything else. When I tried to extend the area for coverage, I was sent a questionnaire with requirements that would have intimidated most professional skippers. Plus they require crew and would not insure a solo sailor under any circumstances.