Insurance for long distance cruising

[kevjopenney]

Thank you everyone for some valuable advice, we would certainly agree that insurance should not be scrimped on. I think I original fear on the price was a misunderstanding on the discussion with the broker over the pay as you go, which made it sound like about £30k, over the duration and 25% of hull cost deem seem a little excessive!
Now we have received the detailed quote from Pantaneus it makes a lot more sense and the cover does seem very good. They have still only quoted to the Carribean though and over the phone said that Panama would be £250 per day, so it would have been nice to have had a fuller quote to budget.
We have also filled in the online Admiral form, but need to provide some more information to get a full quote including a sailing CV.

Thanks

Kev & Jo

 

[PhilipH]

You say "For our Atlantic crossing next year they have quoted 2.0% and up'd the excess to £2k - but thats for double handed crossing and Caribbean cruising."

Did you mean Pantaenius or Yachtmaster?

 

[Jonny_H]

Pantaenius - haven't got a quote from Yachtmaster yet.

Also, just heard from Panteanious re Pacific / Panama and Australia:

PANAMA / PACIFIC EXTENSION
To extend your cruising area to read "Panama Canal and Pacific Ocean south of 10° North to coastal waters of Australia and New Zealand . Excluded are waters within the box bounded by latitudes 10° North and 10° South and longitudes 90° East and 160° East. Also excluded are waters south of 47° South". The gross hull premium rate will increase to 5.0% which, with a 40% No Claims Bonus gives a net hull premium rate of 3.0%.

AUSTRALIAN EXTENSION
To extend your cruising area to read "Australian coastal waters up to 200 nm off the coast". The gross hull premium rate will decrease to 1.6% which, with a 40% No Claims Bonus gives a net hull premium rate of 0.96%.

Note - the above was based on 1 years yacht no claims (plus some dinghy no claims but don't think they were concerned about this!)

Jonny

 

[AndrewB]

[ QUOTE ]
PANAMA / PACIFIC EXTENSION
To extend your cruising area to read "Panama Canal and Pacific Ocean south of 10° North to coastal waters of Australia and New Zealand . Excluded are waters within the box bounded by latitudes 10° North and 10° South and longitudes 90° East and 160° East. Also excluded are waters south of 47° South". The gross hull premium rate will increase to 5.0% which, with a 40% No Claims Bonus gives a net hull premium rate of 3.0%.


[/ QUOTE ]

This seems to rule out the Solomon Islands, Papua New Guinea and Indonesia. Do Pantaenius give a reason - do they wish yachts to avoid these islands?

 

[Koeketiene]

[ QUOTE ]

This seems to rule out the Solomon Islands, Papua New Guinea and Indonesia. Do Pantaenius give a reason - do they wish yachts to avoid these islands?

[/ QUOTE ]

Piracy is a real problem in these parts.

We plot all piracy incidents on a weekly basis.
These parts (Indonesia in particular) and the Horn of Africa (Yemen/Somalia) are the two main blackspots.

 

[Jonny_H]

Re: Insurance for long distance cruising - UPDATE

Just spoken to Pantaneuis about our insurance. They said just to insure for European waters (which is only about £75 more than other companies), and then let them know each time we go to a new area and we can pay the additional premium for the amount of time we intend to be there. (Ie call them when doing the Atlantic and pay the increased premium until we leave the Caribbean, then tell them when we do Panama and pay a little more until we get to Australia - and then we will get a rebate as Aus is cheaper than the UK!).

Seems like a good way to go, as you get to spread the costs out over the trip and don't have to budget for a £2k insurance bill one month!

Think we will be going with Panteanius - although was reading about GH insurance too the other day, apparently they specialise in blue water insurance. I would want to check closely the policy wording though - heard some horror stories after Ivan, and Panteanious definately came out of that looking like the best people to be with.

Jonny