INSUREANCE HELP

[faraway]

I need some ins. advise.
Sadly I am having to put Faraway in dry storage due to my going to Sicily for 3 years.
I can't seem to find a reasonable insurance quote, all companys want to include towing and uninsured boaters for a boat in dry storage on the hard and demanding a through hull fitting and zinc survey. ????
Am I wrong in thinking that does not sound right, plus they are all above a grand a year.
Any ideas???????????

[Russell]

I need some ins. advise.
Sadly I am having to put Faraway in dry storage due to my going to Sicily for 3 years.
I can't seem to find a reasonable insurance quote, all companys want to include towing and uninsured boaters for a boat in dry storage on the hard and demanding a through hull fitting and zinc survey. ????
Am I wrong in thinking that does not sound right, plus they are all above a grand a year.
Any ideas???????????

Sounds unreasonable to me. One thing that could help your premium though, especially since you will be gone for so long, why not move the boat north for storage? North Carolina of VA or something? Paying the extra for keeping it in FL makes little sense if your gone for 3 years.

[chase]

That's a great idea Russell. If you have the time, anyway, faraway. A fun trip and some great boatyards. I know of a really great one in the New Bern, NC area if you're interested. It's 60 miles inland and perhaps a bit more protected for the next three storm seasons.

Sorry, no help with insurance. I do know that it is like night and day once you cross the FL/GA border, though. Last time I explored changing carriers, thay did require basic survey, so that may be standard.

Chase

[Evergreen]

Hello:

If you want to keep your boat in Florida I recommend that you check out Indiantown Marina. They are said to be one of the most reasonable priced marinas in the state. In addition to being located away from the coast I have been told that they have tie downs for dry storage during hurricane season.

Philip

[Parfait's Provider]

Keep us posted on your quest. Seems to me that if you put it on a trailer and shipped it to an inland storage facility, you could probably forgo insurance altogether. Remove all the imflamables, pull the batteries, winterize, and self-insure. A blanket liability policy might provide additional coverage if they will write it without all that boat insurance you don't need.

In my yard there is more risk from falling trees than rising water; I wouldn't think it should cost more to insure a boat than a house. Maybe an independent agent could find you something?

Please keep us posted on what you find.

[dhostett]

I am a marine insurance specialist. Current state of market makes it difficult/impossible to find reasonable insurance premiums in FL especially if you are absent from your boat. Being hauled doesn't matter. One possilble exception is you might be able to secure coverage from a surplus lines (London) market. There are both up and downsides to this.

For a domestic insurance company, your best bet is to consider whether you would be willing to move and store your boat ashore north of Savannah, GA. If so, and before you move your boat, get an insurance quote to see if if the numbers make sense to you. Quote will be undoubtedly be subject to new hauled C&V survey (insurance company wants to know condition and value of your boat). Don't be surprised if company requires details on who will look after your boat in your absence.

You can potentially lower premium by increasing your hull deductible. You might also consider excluding coverage for damage due to hurricane, tropical storm/depression if you are comfortable with where you've stored your boat.

I'm not trying to solicit your business, just trying to help. But, if you want to contact me off-lline to discuss your particular situation in greater detail let me know.