Page 1 of 2 12 LastLast
Results 1 to 20 of 23

Thread: CruisersInsurance.com | Find the best boat insurance for your situation

  1. #1

    Default CruisersInsurance.com | Find the best boat insurance for your situation

    Hi all,

    I'd like to introduce a new insurance comparison service I am launching specifically built for cruisers.

    The idea for my service (called "CruisersInsurance.com") would be to let cruisers submit their info once and the service would automatically invite all eligible insurance companies to return a quote. For the cruisers this could mean more transparency (especially for edge cases such as Cuba, live-aboard, single-handed, etc) and ultimately cost savings.

    If one of the quotes is better than the one you have now, you can switch. If not, simply stay at your current insurer knowing you at least saved time researching alternatives.

    If requested, each year at renewal of your insurance the process would repeat automatically to make sure you always receive the best rates and policies for your consideration.

    Think of it as a personal assistant that researches the insurance industry for you so you have more time for margaritas.

    I plan to launch the website within 4 weeks but for now I have a landing page at signup.cruisersinsurance.com. If you are interested in joining the beta program, please click this link and sign up with your email. I will be in touch!

    The success of this service will ultimately depend on its usefulness to you, the cruiser. Could you please provide feedback on the following:

    - What are your most important criteria is selecting an insurance policy? (underwriter, claims history, ...)

    - What are the edge cases of your situation that made it difficult to obtain insurance? (sailing to risky countries e.g. Cuba, single-handed, live-aboard, etc)

    - What would be your apprehensions in signing up?

    Thanks!

    Kind regards,

    Peter-Jan Celis.

    P.S. Thanks a lot to Paul (ForumAdmin) for giving his permission for this thread.

    Disclosure: I am not an insurance broker. I am just building a search/software service to help cruisers find the best insurance. You will handle payments and claims directly with your insurer just as you do know. At this point I am not charging anybody for my services, but in the future I might start charging insurers for access to my platform.

  2. #2
    Join Date
    Nov 2011
    Location
    Oregon, USA until I retire and we sail away
    Posts
    267

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Quote Originally Posted by pj86 View Post
    Hi all,

    - What would be your apprehensions in signing up?
    There are many similar services for auto and life ins, and for mortgage quotes.

    What I dislike about them, and the reason I generally don't use them, it that my contact info is provided to those making the quotes, and they tend to be relentless annoying salesmen and it is hard to get them to stop continually emailing me.

    What would make me likely to use such a service is for my contact info to be withheld and protected, and the quotes forwarded through the service or retrievable from a web page. The quotes should be complete, so we can make an informed decision on which ones we wish to pursue further, and then if we so choose, we can contact the quoting agent(s) directly.

    - Rusty

  3. #3

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    That's excellent feedback, Rusty. It indeed makes sense to do things the way you specified. Thanks!

    Edit: The reason insurance comparison tools in other verticals (auto, life, mortgage,...) forward your information to all insurance companies is because these companies run affiliate programs that pay per lead. This incentives the spamming behavior... CruisersInsurance.com will not endorse those practices. I will negotiate custom deals with the insurers that are performance based and not spamming based. I really like the idea of protecting cruisers' info so that is the way I will go.
    Last edited by pj86; 15th February 2013 at 09:36 PM. Reason: Clarification in edit

  4. #4

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Only one signup and one reply so far. Please tell me what I am doing wrong!

    Are you all perfectly happy with your current insurance policy?

    Anyway, I made a list of 26 insurance companies I plan to contact: https://docs.google.com/spreadsheet/...3c&usp=sharing

    If there is an insurance company I am missing, shout.

  5. #5
    Join Date
    Aug 2009
    Location
    Stratford upon Avon, boat Poole
    Posts
    3,382

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    One of the biggest firms, and very popular with cruisers is Pantaenius www.pantaenius.co.uk/

    And yes, I am very happy with them. Their policy is in a style that I like, new for old, little argument, quick payment, not the cheapest but highly recommended, 12 month cover in or out of water, plus other clauses that I can't think of off hand.

    The reason I haven't signed up for your scheme is that I always like to keep any information about myself very 'close to my chest'. :-)

    Mike
    Nothing works on an old boat, except the skipper.

  6. #6
    Join Date
    Feb 2009
    Location
    Totnes
    Posts
    332

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Thanks for that Mike.

    I've added your preferences to my database....

  7. #7
    Join Date
    Nov 2011
    Location
    Oregon, USA until I retire and we sail away
    Posts
    267

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Quote Originally Posted by pj86 View Post
    Only one signup and one reply so far. Please tell me what I am doing wrong!

    Are you all perfectly happy with your current insurance policy?

    Anyway, I made a list of 26 insurance companies I plan to contact: https://docs.google.com/spreadsheet/...3c&usp=sharing

    If there is an insurance company I am missing, shout.
    I'm no expert, but that list looks a little US heavy - surely there are more foreign insurers?

  8. #8

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    I too hate being bombarded by sales calls and spam emails when using house/car/etc insurance comparison websites, so what I usually do when requesting a quote is give a false phone number (loads of zeros, etc so no one else gets the calls) and a specially set up junk email address that I almost never check. If I want to accept a quote I edit the entered details with valid contact info and then buy the insurance. But I shouldn't have to do this!

    The idea of being able to request quotes anonymously (to the insurers) through your website so the quotes can be retrieved and compared without hassle is an excellent idea and I think would make a USP that you should shout about.

    Also, no sneaky opt-in and opt-out marketing options! And it would be good to see a plain-English privacy policy with a headline along the lines of "we guarantee never to sell or pass on your personal data to any third party".

    If you can get your idea off the ground and your website is well implemented, taking the suggestions into account, then I think you will have a success on your hands.

  9. #9

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    I know very little about the insurance business. I know we just insured our first cruising boat almost a year ago and that policy is coming up for renewal in the next few months. At the time, it was very important to me that I not be restricted from where I could keep my boat during hurricane season. So many of the policies state where the boat must be a certain time of year.

    I was thinking about the whole supplying the customer's name thing. And I am curious. IF a certain customer, for example, had already lost and filed claims on two or three boats......would that affect a quote for insuring his third boat? If one keeps sinking boats and getting paid their insured value, does that drive the cost of future insurance up for that individual?
    Tropical island life in the Devil's Triangle.
    http://2gringos.blogspot.com/

  10. #10
    Join Date
    Oct 2008
    Location
    50% Uk 50% on my boat
    Posts
    5,404

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Yes it would then cost a lot more but those details would have to be declared in the claims history section of any application.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  11. #11

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    So, it would not be possible to get a valid insurance quote from a company without them being able to research your name to see what your claim history might be?

    What I am trying to determine, from an academic standpoint (I've never filed an insurance claim in my life) is if Boater A and Boater B both live in the same town, and have the same model boat, and both contact an insurance broker for new boat insurance. If Boater A has already wrecked and been reimbursed for say, two half million dollar boats from other insurance companies who know him well, and Boater B has never filed a claim.....won't they get identical quote information for the new policy if the insurance company doesn't have their names?
    Tropical island life in the Devil's Triangle.
    http://2gringos.blogspot.com/

  12. #12
    Join Date
    Oct 2008
    Location
    50% Uk 50% on my boat
    Posts
    5,404

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    You can complete a claims history without revealing who you are.
    Eg.
    Claimed $200,000 in July 2003 for collision with other boat.
    Claimed $500,000 ion August 2003 for sinking boat.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  13. #13

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Don't the insurance companies research your name to be sure that the two you are admitting to are the ONLY two claims you've gotten involved in?

    I actually know someone who has done this, on two boats. Not sailboats.
    Tropical island life in the Devil's Triangle.
    http://2gringos.blogspot.com/

  14. #14
    Join Date
    Oct 2008
    Location
    50% Uk 50% on my boat
    Posts
    5,404

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Yes they have central pooled info BUT for the purposes of a quote they do not need the detail. They can quote based on the info provided but when you choose one, then only at that stage do you provide the full details of the name of previous boat etc.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  15. #15
    Join Date
    Nov 2011
    Location
    Oregon, USA until I retire and we sail away
    Posts
    267

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    It would be silly and counterproductive to not fully disclose your history.
    Fibbing to insurance companies is a big no-no. Actually if they were evil, and knew you hadn't disclosed a previous claim, they could probably accept your application and take your money, and then if you ever made a claim, they could claim fraud and deny it.

    Your name and boat names could be provided without providing contact information.

  16. #16
    Join Date
    Aug 2009
    Location
    Stratford upon Avon, boat Poole
    Posts
    3,382

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Quote Originally Posted by rgesner View Post
    It would be silly and counterproductive to not fully disclose your history.
    Fibbing to insurance companies is a big no-no. Actually if they were evil, and knew you hadn't disclosed a previous claim, they could probably accept your application and take your money, and then if you ever made a claim, they could claim fraud and deny it.

    Your name and boat names could be provided without providing contact information.
    As Paul said, you can easily provide the bald facts of your insurance history, sufficient for an indicative, estimated, quotation.

    However, if you provide your name, and boat's name, they have all the contact information etc from the various registers that exist. In the UK the SSR gives everything, so I expect there will be similar in USA and elsewhere. Plus the insurer's database will show where you are insured at present, with all your details.

    Mike
    Nothing works on an old boat, except the skipper.

  17. #17

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Thanks everybody for all the amazing feedback and insightful conversation!

    Most important lesson learned so far is that catering to cruisers is all about three things: privacy. privacy. privacy.

    There have been no signups via the landing page (the one I had cancelled) but interest in this thread seems to be picking up so I will continue building out this project under the assumption that the lack of signups can be explained by the high value placed on privacy by the cruiser community.

    Based on the input from this thread these are the proposed features for the CruisersInsurance.com web app:

    Unique Selling Proposition (USP): Anonymous insurance quotes

    Software features to support this USP:

    1. Sharing only of relevant, never of contact information
    CruisersInsurance.com will never ask for telephone number or street name and number, as those are contact details that simply aren't needed. Relevant but anonymous info such as state or post code might be needed (to be discussed in this thread based on input from insurers).

    CruisersInsurance.com will need your email address to contact you for follow up but your email will be shielded from the insurer (see point 2 below) and you will have full control of when CruisersInsurance.com contacts you (see point 4 below).

    2. Anonymous communication with insurers via proxy email
    A craiglist style proxy email system can be built where for each insurer you want to talk to (questions, negotiation, etc), a temporary email address is created that forwards all incoming email to your real email address and forwards mails from your email address (which only CruisersInsurance.com knows) to the insurer email. This way your insurer never knows your email address and if he starts spamming you, use the CruisersInsurance.com settings menu to delete the proxy email!

    3. Low price quotes via anonymous claims history look-up
    Either CruisersInsurance.com will need to verify claims history for you so it can be shared with insurers anonymously (as they trust the CruisersInsurance.com verification process) or we need a way to allow for claims history look-up without sharing contact information (to be discussed in this thread based on input from insurers).

    This feature is an absolute must have as neither higher prices nor non-anonymous price quotes are acceptable. How to achieve this feature is the biggest unknown element of the CruisersInsurance.com specification at this point. Specific issue is related to boat names which can result in insurer finding contact information.

    4. Strict privacy policy and full control over email settings
    There will be a very clear and very strict privacy policy in place. CruisersInsurance.com will never share your contact details and in fact never require you to submit any more info than is needed for the anonymous quoting process. CruisersInsurance.com will than notify you of incoming quotes based on your email settings (with sensible defaults).

    5. Signup in two minutes
    All of the above is useless if the entire process isn't user friendly. The signup should consist of a simple step where you submit the minimum of information.

    Next steps

    - I will contact all the insurers from my list and ask for their application forms so I can compare them and look for the common ground.

    - Validate this app idea please! I understand you aren't keen on sharing your email by signing up now but ideally I should know there are people out there who like the CruisersInsurance.com functionality as presented here. If interested please send me a short PM or reply in this thread saying 'I'm in' or 'I'm in if...'.

    - Input from this thread will further steer the direction of CruisersInsurance.com.


    Quote Originally Posted by dmmbruce View Post
    One of the biggest firms, and very popular with cruisers is Pantaenius www.pantaenius.co.uk/
    Mike
    I have added Pantaenius to the list. Thanks!

    Quote Originally Posted by rgesner View Post
    I'm no expert, but that list looks a little US heavy - surely there are more foreign insurers?
    Good catch! This list is based on a search in the US version of Google so it is pretty Anglosphere centric. For now the list is long enough to validate the app idea but I will for sure add more insurers from all over the world later on.

    Quote Originally Posted by ColdFusion View Post
    plain-English privacy policy with a headline along the lines of "we guarantee never to sell or pass on your personal data to any third party".
    You got it. Great feedback, thanks!

    Quote Originally Posted by Gringo View Post
    very important to me that I not be restricted from where I could keep my boat during hurricane season. So many of the policies state where the boat must be a certain time of year.
    That's a very relevant dimension to compare insurance quotes on. CruisersInsurance.com will track it!

    Quote Originally Posted by Gringo View Post
    So, it would not be possible to get a valid insurance quote from a company without them being able to research your name to see what your claim history might be?
    This is in a nutshell the problem CruisersInsurance.com will try to solve.

    Quote Originally Posted by ColdFusion View Post
    If you can get your idea off the ground and your website is well implemented, taking the suggestions into account, then I think you will have a success on your hands.
    Thanks! I am a Ruby on Rails developer. Not much of a designer but I will use Twitter Bootstrap to get things going.

    Quote Originally Posted by ForumAdmin View Post
    Yes they have central pooled info BUT for the purposes of a quote they do not need the detail. They can quote based on the info provided but when you choose one, then only at that stage do you provide the full details of the name of previous boat etc.
    So if anonymous claim history checking is not possible, a second best solution would be to get a quote with no or limited claims history check (as much as is possible while remaining anonymous) and than negotiate the price down with the insurer via the anonymous proxy email offered by CruisersInsurance.com
    Last edited by pj86; 17th February 2013 at 10:40 PM.

  18. #18
    Join Date
    Oct 2008
    Location
    50% Uk 50% on my boat
    Posts
    5,404

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Nobody is saying that anyone should lie - that would be stupid but there would be no need to provide boat names etc of previous boats etc - only the details that effect their risk assessment.
    Safe Sailing
    Paul
    Blog: www.suliere.com

  19. #19

    Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    Of course nobody should lie - not sure if I seem to have implied that somewhere but lying would of course be unacceptable.

  20. Default Re: CruisersInsurance.com | Find the best boat insurance for your situation

    I certainly understand everyone's desire to get the best possible deal on insurance, but the fact is that an insurance contract is ajust that- a contract between you and the insurance company. Variables such as your boat, it's condition, your claims hostory, the navigation area, deductible, and even your credit history make eaxh inquote an individual one. You can't just compare your rate to your neoghbors and expect the to come up with the same number. When you contact a reputable agent such as IMIS, we already give you you quotes from multiple companies- we are agents for all the major reputable A rated companies. If you blast a bunch of agents with your request, none of us will want to help you, since we usually can each only get one quote from the company in question. For example, let's say you contact agent A, and he gets you a quote from Pantaenius. Then you contact agent B, and he tries to get you a quote from Pantaenius as well. Pantaenius responds to agent B that the client already has a quote, and they won't provide a second one. So maybe agent B then moves on to a quote from Lloyds. So now you have a Pantaenius quote from agent A and a Lloyd's quote from agent B. Now you have to read through all the legalese and figure out the differences, whereas if you had left it up to agent A to get you both quotes, they could do that for you. In fact, that's what you're paying them for-they are experts in marine insurance and know the policies inside out and can advise you on which best meets your needs. Plus, all the duplication
    n of requests swamps the underwriters and drives up costs for all policyholders.

Page 1 of 2 12 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •