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Thread: Change of Insurer save 40%

  1. #1
    Join Date
    Oct 2008
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    50% Uk 50% on my boat
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    5,442

    Default Change of Insurer save 40%

    Just changed over to Bill Hodges Marine Insurance Inc in ft Lauderdale with a policy covering east coast USA, Bahamas and Cuba underwritten by Lloyds of London and shaved 40% off my premium with the more expensive old option only covering 2 weeks in Cuba as opposed to 4 weeks with the new one.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  2. #2

    Default Re: Change of Insurer save 40%

    Well done. That's a whopping saving

    Insurance is a necessary evil and most (all?) of the insurers rely on (misplaced) loyalty from their customers at the time of renewal. It's rare that a renewal premium is the best deal on offer so it usually pays to shop around every year.

    Not sure where Suliere is registered... do US boat insurers insure UK registered boats owned by UK citizens?

  3. #3
    Join Date
    Oct 2008
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    50% Uk 50% on my boat
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    Default Re: Change of Insurer save 40%

    Yes this one does and I had to pay UK insurance tax as its lloyds.
    My boat is Uk registered.
    Cheers
    Paul
    Safe Sailing
    Paul
    Blog: www.suliere.com

  4. #4
    Join Date
    Oct 2008
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    Home port Chesapeake Bay; Cruising full time.
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    1,610

    Default Re: Change of Insurer save 40%

    Paul - aside from the Cuba difference, were all other things the same, i.e., deductible, geographic regions, and storm season items, etc?

    2 Hulls Dave

  5. #5
    Join Date
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    Default Re: Change of Insurer save 40%

    No they are the same. Overall the lower quote had better cover, lower deductibles and in all leading respects which makes it, in effect, even a better policy.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  6. #6
    Join Date
    Dec 2008
    Location
    Fox Island
    Posts
    23

    Default Re: Change of Insurer save 40%

    Can you give us an idea of quote differential I would suspect your paying around 10k originally are you down to 6k for better coverage?

    Thanks

  7. #7
    Join Date
    Oct 2008
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    50% Uk 50% on my boat
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    Default Re: Change of Insurer save 40%

    UK broker quote was over 7,700 for less cover so there is a big drop
    Safe Sailing
    Paul
    Blog: www.suliere.com

  8. #8

    Default Re: Change of Insurer save 40%

    Hi Paul

    Can you post the contact details for Hodges Marine please.

    Dick

  9. #9
    Join Date
    Oct 2008
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    Default Re: Change of Insurer save 40%

    Bill Hodgens
    W.R.Hodgens Marine Insurance. Inc.
    2015 SW 20th Street Suite 100
    Fort Lauderdale, FL 33315
    954 523 6867 Fax: 954 523 6488
    wrhodgens@yachtinsure.com
    WWW.YACHTINSURE.COM
    Safe Sailing
    Paul
    Blog: www.suliere.com

  10. #10

    Default Re: Change of Insurer save 40%

    Quote Originally Posted by ForumAdmin View Post
    Just changed over to Bill Hodges Marine Insurance Inc in ft Lauderdale with a policy covering east coast USA, Bahamas and Cuba underwritten by Lloyds of London and shaved 40% off my premium with the more expensive old option only covering 2 weeks in Cuba as opposed to 4 weeks with the new one.
    ------------------------------------
    WCM here,

    Do you have contact details please.

    Will look on the Web

    Regards

    WCM

  11. #11

    Default Re: Change of Insurer save 40%

    Quote Originally Posted by ColdFusion View Post
    Well done. That's a whopping saving

    Insurance is a necessary evil and most (all?) of the insurers rely on (misplaced) loyalty from their customers at the time of renewal. It's rare that a renewal premium is the best deal on offer so it usually pays to shop around every year.

    Not sure where Suliere is registered... do US boat insurers insure UK registered boats owned by UK citizens?
    ---------------------------------

    Answer YES - I'm English with an Ex USA reg boat, now SSR England and got my Insurance through Pegasus Ins NC USA who use UK Ins company.

    WCM

  12. #12

    Wink Re: Change of Insurer save 40%

    I have used bill hodgens on my mono hull for 3 years ,he was the best.
    now buying a lagoon, so will await his quote
    I am also english with ssr registry
    my only comlaint is that you cant pay him on debit or credit card

  13. #13
    Join Date
    Oct 2008
    Location
    in BC Canada, the UK
    Posts
    373

    Default Re: Change of Insurer save 40%

    We were seriously messed about by one US broker, who was NOT Susan Waters, (susanw.imis@gmail.com) as she was very helpful but unfortunately couldn't find the cover we wanted.

    We eventually got insurance for our Skoota 28 powercat from Red Shield Insurance of Seattle for coverage of a plywood boat in the PNW

    http://www.redshield.com/yacht.html

    premium is a bit under 1% boat value.

    And yes, we also have a British flagged boat with a SSR and British owner

    Richard Woods of Woods Designs

    www.sailingcatamarans.com

  14. #14
    Join Date
    Apr 2010
    Location
    Hometown: Prince Albert, SK, Canada ------ Living on: the boat
    Posts
    83

    Default Re: Change of Insurer save 40%

    I have received several quotes from US and UK underwriters (Pantaenius, Osprey, Aviva, Lloyd's, Sunderland, Osprey, and Berkshire-Hathaway) and the premiums ranged from $1,700 to $4,600 so it pays to shop around. As dmmbruce (Mike) said here
    http://www.multihulls4us.com/forums/...9&postcount=17
    some companies want your business and others will accept it if they're making enough money to make worth their time.

    FYI regarding SSR:
    We're completing the purchase of our boat soon and I did some research into the UK SSR. The response from the Maritime and Coastguard Agency (MCGA) was that you had to be a resident of the UK for at least 185 days per 12 month period in order to register under the SSR system. I was primarily interested in the SSR because I thought it also provided proof of ownership but it doesn't.
    http://www.rya.org.uk/SiteCollection...20THE%20UK.pdf
    I will license the boat and dinghy in Canada under the Please Craft License program (similar to the SSR) which is free but isn't a Proof of Ownership document. For that I will have to use the sale documents if I get hassled about it.
    Here are some links to the Canadian Pleasure Craft License
    http://www.servicecanada.gc.ca/eng/s...urecraft.shtml
    http://www.tc.gc.ca/eng/marinesafety...cence-1898.htm
    I will also post this on a separate thread so it's easier to search.
    Lorry

  15. #15

    Default Re: Change of Insurer save 40%

    Well done,do you have any contact detail please.

  16. #16

    Default Re: Change of Insurer save 40%

    Quote Originally Posted by ForumAdmin View Post
    Just changed over to Bill Hodges Marine Insurance Inc in ft Lauderdale with a policy covering east coast USA, Bahamas and Cuba underwritten by Lloyds of London and shaved 40% off my premium with the more expensive old option only covering 2 weeks in Cuba as opposed to 4 weeks with the new one.
    I had dinner a couple of nights ago with a retired insurance broker and he told me that all Lloyds underwritten policies had a sea worthiness clause in their fine print that required two fully capable crew aboard at all times. He knew of one instance where the boat was at anchor and one person had gone ashore. Something happened and Lloyds invoked the sea worthiness clause and refused to pay. In another instance, during an accident investigation one couple mentioned that one of them was seasick at the time of the incident. Lloyds ruled that a sea sick person was not fully capable and invoked the sea worthiness clause and refused to pay. He said generally if something breaks it is not seaworthy and they don't pay. I hope you never have an opportunity to find out if he was correct.

  17. #17

    Default Re: Change of Insurer save 40%

    Hi I'm new to this subject, but I'd like to ask where and if it's possible to buy insurance for a 2 month sailing trip from USA to Brasil? I'm talking about whole family( 4 members) so if something happen I will be able to go to hospital in other countries.

  18. #18

    Default Re: Change of Insurer save 40%

    Try Topsail in the UK they insure internationally and will tailor policies.

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