Insurance woes

Capt. Ed · Post by **Capt. Ed** » Sun Apr 08, 2007 5:01 pm

Sean, To answer your question, we have to offset our liability exposure with re-insurance. Yes, if we form a mutual insurance company, we would have to be licensed by the state, so banks would have to accept it. If their is a large enough interest in doing this, we can explore it further. Drop me an email.

Rissa · Post by **Rissa** » Sun Sep 09, 2007 8:19 am

quote:Originally posted by Capt. Ed Sean, To answer your question, we have to offset our liability exposure with re-insurance. Yes, if we form a mutual insurance company, we would have to be licensed by the state, so banks would have to accept it. If their is a large enough interest in doing this, we can explore it further. Drop me an email. 1979 Bertram 33' FBC ALEXANDRA Port Richey, Florida [img]http://www.bertram33.com/photogallery/p ... xandra.jpg[/img] BERTRAM PRIDE '07 PLAN TO ATTEND! Capt. Ed, After seeing first hand, just how truly screwed up the boat insurance business is, I would be interested in checking into this possiblity. I have NEVER seen anything so impossible in my life. I know there are other boaters with the same woes who own other makes of boats that would probably be interested as well. Florida has got to be the worst state there is. Marissa DeWitt Ocala, FL

captgene · Post by **captgene** » Wed Sep 19, 2007 4:34 am

Has anyone tried the Sea-Tow Quote? It is on-line. I was going to try it, but can't remember when I bought the boat or when the last survey was done. So I'll have to dig that up first. (877) 568-1672 or info@seainsure.com. Gene Dugan Boca Raton, Fl. "Nauti Marie" 1989 33 FBC

rnanaples · Post by **rnanaples** » Tue Dec 18, 2007 7:46 am

quote:Originally posted by photo finish Thanks for the offer but unfortunately I cant make it up there . Tim Stamm Photo Finish 1981 33' Bertram FBC [img]http://www.bertram33.com/photogallery/p ... Finish.jpg[/img]

gskill · Post by **gskill** » Wed May 28, 2008 4:01 am

Well it's that time of year again. I received my quote for insurance (85K) and it is the same as last year, $2770. This year they are also requiring an out of the water survey. I am insured through TL Dallas. Over the past few years I have been told that this was the only company taking on new customers in south Florida. Boat US also gave us an outrageous quote when we were shopping a few years back. We are located in the Fort Lauderdale area. I was wondering if anyone in south Florida has found a cheaper rate and if so with which company? Gene I applied for a quote with Sea Tow. We'll see how they rank. BTW paid $5.58 for Diesel in the Bahamas a week ago. Probably $5.80 or more this week.

h2ojst · Post by **h2ojst** » Wed May 28, 2008 5:57 am

Just wanted to post a little warning about the service in the claims department of TL Dallas. I had some hurricane damage from Wilma a few years back. After submitting a claim and supporting documentation, I was jerked around beyond belief. A year and a half later, I finally had to hire a law firm to sue them for payment. They finally paid the claim and my attorney fees after 2 years of fighting. During this time they wanted me to renew, which I would not, but I was caught in a catch 22 situation. No one else would insure me without a new survey (which I couldn't get while the boat was being refit). So now the boat is 100% completed, new survey done & now I'm shopping for new insurance. I'm trying Allstate & Boat US. Although a bit more expensive, their claims are paid without incident. 1988 Sportfish Attitude Adjustment II Fort Lauderdale, FL

captgene · Post by **captgene** » Wed May 28, 2008 10:23 am

$5.58 Gag, but what I expected. I'm booked at Bluewater in June and August. No job, may as well go to the Bahamas and loaf. I still have Boat US..it's over $3K, but I'm going to go ahead and pay off the boat next week. My policy is good until Oct. I'll probably just carry a minimum liability. I have to do a lot of cutting back. Gene Dugan Boca Raton, Fl. "Nauti Marie" 1989 33 FBC

buzzk · Post by **buzzk** » Wed May 28, 2008 11:39 am

Boat US was way high on my boat, I'm insured with Charter Lakes now. I haven't had a claim. But getting insurance is still hard, one company I had my boat with wouldn't renew because they were pulling out of NC. I don't see how you guys in Florida even get insurance. Between boat yards, insurance, fuel prices boating is becoming less fun. I have a dock behind my house so at least I don't have to pay for dockage. Dockage is becoming a problem in my area too. Buzz

gskill · Post by **gskill** » Thu May 29, 2008 2:54 am

Thanks for the info. Having insurance with TL Dallas is like not having insurance at all with their high deductibles. I talked to the admiral yesterday about liability only and she was not comfortable at all. When you consider the cost of the policy and the hurricane deductible, we would be out of pocket for up to 12K if we had damage. I'm not sure it's worth it. If we could prearrange a local yard, to place it on the hard during a hurricane it would be much more cost effective however we would be exposed to a catastrophic event at all other times. I might be OK with this however as mentioned above it takes two to agree. Sea Tow would not insure the boat in S. Florida. Progressive will only insure older boats in Florida up to 20K. My broker is checking with other insurers that are now writing in Florida however it appears that I still have to get an out of the water survey. My previous surveyor yesterday quoted $10 per foot for an insurance survey. I just need someone to write up a report that satisfies the insurer not a serious survey. I had an insurance survey done a few years back for $150 however the surveyor has retired. I have to get something done this week or next as I am leaving town for an extended period.

h2ojst · Post by **h2ojst** » Thu May 29, 2008 10:01 am

Hi George, Try Pete Slawek @ Offshore Marine Surveyors @954-587-5879. He does insurance surveys and is very reasonable. Feel free to mention my name (whatever that's worth). 1988 Sportfish Attitude Adjustment II Fort Lauderdale, FL

gskill · Post by **gskill** » Thu May 29, 2008 11:23 am

Thanks Joe, I gave him a call this afternoon and he seems flexible and reasonable.