insurance for a CD25 ... any suggestions

[Russell]

Russel,
You mention worldwide coverage. So, is proof of insurance required to enter a foreign port, or just at a marina? Also, if the offshore insurance likely would not pay out, as you suggest, would a boat owner with such insurance still be held liable?

Regards, Terry

I am not aware of any specific ports that require coverage, but in many areas it is becoming more common for both marinas and boatyards to require it (Europe and the US in particular). Where I am in Panama at the moment, of the 3 Marinas, only one requires it.

As for liability if a shady insurer does not pay out, that probably depends on where you are. Definitely beyond the scope of my knowledge.

[Russell]

Also, when going with a National company like Progressive it is advisable to go through a local agent as opposed to direct. This creates a personal relationship, added level of protection, and they will actually go to bat for you in the claims process.

Based on anecdotal experience of others, if you go through a Progressive agent, or even do it by phone, you may be asked for a survey, if you do it online you will get binding coverage without a survey. I did this last year and I did indeed get a liability policy with no mention of a survey.

[joemerchant]

You are ALWAYS on the hook whether you have good insurance or not, so best to have it. I think it was Latitude 38 a number of years ago had an article on someone with a big fishing boat in Cabo that accidentally took out and killed a local fisherman in a small boat. His insurance did not cover past Ensenada and effectively no insurance. They kept the boat and he spent 4 months in jail until it was all worked out. The accident happened at night and the small boat was not lit. The problem with the legal system in other countries is it is guilty until proven innocent, it is slow, and it normally slides against the deepest pockets.

Even if you are not at fault, you could be on the hook in the US. The famous Dinus case a few years ago where Bismark Dinius was at the helm of a drifting sailboat at night that was run over by a go fast Outlaw speedboat with a local Deputy at the helm. After all said and done, the insurance companies from all parties paid out to the limits.

The San Diego Log has a great section - ask an attorney that is filled with insurance horror stories. My favorites are people getting hauled out and service sign a work order that has you sign away the right for your insurance company to subrogate for you, which is a violation of the contract (policy) and thus no claim. Meaning the yard did bad work that caused or was proximate to the cause of the sinking, but you are the only one to lose.

Many reputable companies will allow cruising endorsements. Meaning your policy will be endorsed to go cruise for a specific period of time.

Getting a policy without a survey is a double edge sword. If there is a loss that can be deemed a maintenance issue, you have to prove it wasn't and fight the claim and may be denied. If you get a survey and it comes back good and you repair any deficient items, then show a maintenance log, pictures, and receipts for the normal maintenance you are providing, you have a far greater chance in getting the claim paid.

The Florida mooring fields are also an issue for insurance as many are requiring the contract to waive subrogation, which effectively negates your policy while you are on that mooring. Check with your insurance company and or policy before you sign a work order, lease, or rental agreement as most policies will become null and void if you waive your right to subrogation.

Having bad insurance or no insurance at all NEVER gets you off the hook for damage you do as we are all responsible for our own actions. Insurance transfers the risk to someone else for a payment IF they are reputable AND it is a covered loss. Without it, you are personally responsible.

And the final on going direct with Progressive over through a local agent. The agent is going to make sure you get the right coverage and bases are covered. He pays E&O Insurance himself, so if he The rate is the exact same as going direct, and when you have a claim, he will actually be in your corner. Trust me, Flo won't be the one answering the phone when you talk to an adjuster.

Moral of the story. Get insurance. Read the policy. Adhere to the policy. Maintain your boat and keep a good maintainence log. Take lots of pictures, especially projects before and after. Keep all of you reciepts. When a yard wants you to sign a work order that includes legal language, have your agent read it and determine if it violates your policy. Send it to him in an email.