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#160900 - 11/19/08 04:13 PM catamaran insurance  
Joined: Nov 2008
Posts: 29
AUS Offline
newbie
AUS  Offline
newbie

Joined: Nov 2008
Posts: 29
Does anyone have a suggestion on the best insurance company for covering a performance cat in Florida.

Thanks in advance

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#160903 - 11/19/08 04:21 PM Re: catamaran insurance [Re: AUS]  
Joined: Sep 2002
Posts: 3,221
Team_Cat_Fever Offline
Carpal Tunnel
Team_Cat_Fever  Offline
Carpal Tunnel

Joined: Sep 2002
Posts: 3,221
Roanoke Island ,N.C.
If it's a one design go with the US Sailing one design insurance. You can do it whether you are a member or not.


"I said, now, I said ,pay attention boy!"

The cure for anything is salt water - sweat, tears, or the sea
Isak Dinesen
If a man is to be obsessed by something.... I suppose a boat is as good as anything... perhaps a bit better than most.
E. B. White
#160910 - 11/19/08 04:41 PM Re: catamaran insurance [Re: Team_Cat_Fever]  
Joined: Jul 2001
Posts: 1,197
Tornado Offline
old hand
Tornado  Offline
old hand

Joined: Jul 2001
Posts: 1,197
Vancouver, BC
Yes, the One Design plan is very good. You can get agreed hull value...meaning you state a value on your boat, they insure that without depreciation in the case of total loss.

They also specify race coverage (with a higher deductible for claims "while racing"); Trailer & trailering is covered. As is chartering the boat out to others. $1 mill liability...required for certain classes (ie Tornado fleet racing) and hard to find from other providers (Boat US; AAA would not go that high for a 20 footer).



Mike Dobbs
Tornado CAN 99 "Full Tilt"
#160913 - 11/19/08 04:57 PM Re: catamaran insurance [Re: Tornado]  
Joined: Apr 2007
Posts: 291
JACKFLASH Offline
enthusiast
JACKFLASH  Offline
enthusiast

Joined: Apr 2007
Posts: 291
My insurance is through Travelers. The just paid to replace my mast after Ike left a branch on it. No problems with the claim. Low deductible of 100.00 rather racing or not, also has the agreed hull value with no depreciation. I have 15K of coverage for my SX and it cost less than 400.00 a year.


Collin Casey
Infusion Platform + C2 rig and rags = one fast cookie
#160926 - 11/19/08 06:08 PM Re: catamaran insurance [Re: JACKFLASH]  
Joined: Jun 2001
Posts: 12,279
Jake Offline
Carpal Tunnel
Jake  Offline
Carpal Tunnel

Joined: Jun 2001
Posts: 12,279
South Carolina
Progressive is good too. My a-cat and my F18 (new at the time) are about the same rate at just over $100 per year. The policies are "replacement value" policies (IMHO, better than agreed value), include the trailers, chartering, and racing. Each year without a claim the deductible reduced by 25% of the original amount ($500). After four years with no claims, I now have no deductible.


Jake Kohl
#160930 - 11/19/08 06:24 PM Re: catamaran insurance [Re: Jake]  
Joined: Jul 2001
Posts: 1,197
Tornado Offline
old hand
Tornado  Offline
old hand

Joined: Jul 2001
Posts: 1,197
Vancouver, BC
For these other policies, what is the max liability limt?

Some classes/events require a min. of $1 mill.



Mike Dobbs
Tornado CAN 99 "Full Tilt"
#160932 - 11/19/08 06:35 PM Re: catamaran insurance [Re: Tornado]  
Joined: Jul 2007
Posts: 976
pepin Offline
old hand
pepin  Offline
old hand

Joined: Jul 2007
Posts: 976
France
Originally Posted by Tornado
For these other policies, what is the max liability limt?

Some classes/events require a min. of $1 mill.

That's low: events in the UK usually require a min coverage of 2m. That's like what, around $3m these days?

#160952 - 11/19/08 10:30 PM Re: catamaran insurance [Re: Tornado]  
Joined: Apr 2007
Posts: 291
JACKFLASH Offline
enthusiast
JACKFLASH  Offline
enthusiast

Joined: Apr 2007
Posts: 291
Originally Posted by Tornado
For these other policies, what is the max liability limt?

Some classes/events require a min. of $1 mill.



I would have to double check but I believe my policy is 100k for other peoples property and either 1 of 2 mil for personal injury to either others or my crew. The trailer is covered on the same policy with a set value of 1k.


Collin Casey
Infusion Platform + C2 rig and rags = one fast cookie
#160987 - 11/20/08 09:54 AM Re: catamaran insurance [Re: JACKFLASH]  
Joined: Nov 2008
Posts: 29
AUS Offline
newbie
AUS  Offline
newbie

Joined: Nov 2008
Posts: 29
Thanks guys, last year I didn't get a quote from Travelers or Progressive so I willl give them a try. US sailing couldn't cover an A cat last year but maybe that has changed? Anyone know? The best I could do last year was Boat US at $550 per year. I am sure I can do better on the new boat.

#160995 - 11/20/08 01:22 PM Re: catamaran insurance [Re: AUS]  
Joined: Nov 2006
Posts: 30
Doug_P182_LKN Offline
newbie
Doug_P182_LKN  Offline
newbie

Joined: Nov 2006
Posts: 30
Lake Norman, NC
I have a boat rider on my home owners insurance through Liberty Mutual that fully covers the boat. Full replacement coverage for $100 a year in premium.


Doug Bernstein
Prindle 18.2 'Special Treat' #590
Lake Norman, NC
#160997 - 11/20/08 01:52 PM Re: catamaran insurance [Re: Doug_P182_LKN]  
Joined: Dec 2001
Posts: 5,576
waterbug_wpb Offline
Carpal Tunnel
waterbug_wpb  Offline
Carpal Tunnel

Joined: Dec 2001
Posts: 5,576
Naples, FL
Doug,

What does that endorsement say about your liability while operating the boat? Do you have the $300,000 or $500,000 liability coverage already present in your homeowner policy, or does the endorsement give you additional liability limits?

I would think that works best, and you can get to the $1 million liability limit with an umbrella policy, right?


Jay

#161009 - 11/20/08 03:47 PM Re: catamaran insurance [Re: waterbug_wpb]  
Joined: Mar 2005
Posts: 471
drbinkle Offline
addict
drbinkle  Offline
addict

Joined: Mar 2005
Posts: 471
NC
I just got a letter from US Sailing stating that they have increased insurance coverage for members at any event governed by US Sailing rules, including travel. Does anyone have any more details about the new coverage?


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