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Caribbean Boat Insurance Coverage - How Hard Is It To Get?

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Our common idea about the Caribbean is sun and endless sunny skies. But if we remember what took place in the Caribbean back in 2004 we can remember and conclude after a few seconds that hurricanes hit those places too! Before Hurricane Ivan, there was a belief that hurricanes can don't happen in the south especially in the 12°40'N area. If America has its hurricane Rita and hurricane Katrina, the Caribbean has its hurricane Ivan. Hurricane Ivan has taught a lot of lessons to a lot people, included that long list is insurance, Caribbean boat insurance.

Lesson in Caribbean Boat Insurance

Part of the Caribbean boat insurance lesson is that boat owners, insurance companies and yards should not be complacent when it comes to the issue of hurricane preparedness especially with boats within the Caribbean. Because of the misconception that hurricanes do not occur in the Caribbean or if they do, its not going to be a big threat, boat owners, insurance companies and yard were not able to thoroughly prepare themselves much for what was to come.

Hurricane Ivan should not be disregarded as an isolated case because of the belief that hurricanes do not hit 12°40'N. The extent of the damages it caused should be a warning to everyone. Ivan boat owners should remember that hurricanes can happen in the Caribbean and they hit with as much fury as any hurricane can. After hurricane Ivan, boat owners and insurance companies in the Caribbean have reexamined boat insurance and everything that is related to it.

2004 Carver 46 Yacht
2004 Carver 46 Yacht

Boating in the Caribbean

If you have a boat in the Caribbean or plan to buy and keep a boat in the Caribbean, get boat insurance! Learning a little lesson from the past, a hurricane can hit just about anywhere in the Caribbean, this is part of the Caribbean boat insurance lesson that hurricane Ivan has taught us. If you take a look at the effects of the hurricane, you should be able to say that Caribbean boat insurance is not a huge waste of time nor is it a waste of money!

In deciding to get a Caribbean boat insurance many factors are bound to come into play. There are not much insurance companies in the Caribbean. Hence, this will lesson you field of research. Once you found insurance companies that you are interested in the company will look on different factors surrounding your circumstance. These factors will be analyzed to establish a level of risk that your boat is likely to face. If the insurance company has concluded that there is a high risk, then boat owners will naturally pay higher premiums. Insurance premiums generally cost more in the north because of the higher chances of windstorm while there is less in the south.

Caribbean Boat Insurance - Read your Policy

Sometimes, premiums are what boat owners think and consider about. As long as their boat is insured, that is the end of it. That is such a disgraceful careless attitude. Stop and consider that you may have been ripped off. What you are paying for is not worth the coverage that they extended and liabilities that they would assume. Or if they claim to assume a lot of liability, they might not be able to pay! A boat owner should take time to read the policies and conditions to be able to get Caribbean boat insurance because getting a good policy is what you should really be after and not just low premiums.

Thanks to Joel Sampson for this. Joe is a successful webmaster of He provides more information on charter boat insurance, liability/property insurance and Texas boat insurance on his website.

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