August 14, 2025 • 62 mins
The truth about yacht insurance isn't what most boat owners expect to hear. As insurance veteran Keri Gonzalez reveals in this candid conversation, "Insurance is not your friend, we're not a good neighbor, you're not in good hands." With 36 years of experience as an insurance broker, Keri strips away the marketing slogans to expose what boat owners need to understand about their coverage—especially for older vessels.
For owners of boats over 26 years old, the insurance landscape becomes increasingly treacherous. Most standard markets reject vessels valued over $150,000 once they reach this age threshold, forcing owners into specialized markets with higher premiums and more restrictions. Documentation emerges as your most powerful ally, with Keri emphasizing the critical importance of maintaining cloud-based records of all maintenance and upgrades. These aren't just helpful—they can be the difference between a claim being paid or denied when disaster strikes.
Storm coverage presents particularly dangerous territory for the uninformed. Many boat owners don't realize that their hurricane plans become literal contracts, where any deviation—even moving to what might objectively be a safer location—can void coverage entirely. GEICO policyholders face the additional burden of updating their location every 14 days regardless of weather, while other policies silently depreciate your vessel's value without notification. Perhaps most alarming is the revelation about lithium batteries, which many policies exclude entirely unless specifically disclosed and approved in writing.
The conversation ventures into international waters as well, with Keri offering invaluable guidance for Caribbean cruisers and explaining the strict blue-water experience requirements for those seeking transatlantic coverage. Whether you're maintaining your vessel in a hurricane zone, planning extended cruising, or simply trying to protect your investment, this episode provides the unvarnished truth about what your policy actually covers—and the many ways you might accidentally void it.
Want to ensure your boat insurance actually protects you when you need it most? Listen now, take notes, and check your policy before it's too late. Have questions about your specific situation? Reach out to Keri directly at keri@amginsuranceinternational.com for personalized guidance.
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Feb-Oct 2015 - 1982 Catalina 25
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Capn Tinsley (00:00):
Tonight on the Salty Podcast, my guest is Keri
Gonzalez from AMG InsuranceInternational and we're tackling
the realities of insuring anolder boat.
We'll break down howunderwriters define older, what
depreciation really means foryour coverage and the key
paperwork you need, frommaintenance records to surveys,
to protect your claim.
(00:20):
Plus, we'll cover hurricanezone restrictions, bahamas time
limits and the market optionsyou may not know exist.
This is Yacht InsuranceExplained.
We'll be talking about otherthings too, but that's just kind
of it in a nutshell.
But before we get underway, ifyou like this sailing content,
please consider liking andsubscribing.
It really helps grow thechannel.
I'm your host, captain Tinsley,of Sailing Vessel Salty
(00:43):
Abandoned and Island Packet 320,and this is the Salty Podcast,
episode 70.
Please help me.
Welcome Carrie.
Hello, hi Tinsley, how are you?
I'm well, how?
Kerry Gonzalez (00:57):
are you?
Capn Tinsley (00:58):
I'm good.
I'm good.
Let me just take a drink realquick.
We were just talking offlineand I was learning.
This is the first time we'vemet, so let's just start with a
few qualifying questions.
How long have you been in theyacht insurance business and
what drew you to it?
Kerry Gonzalez (01:18):
Oh, mercy.
I grew up on the water inCanada, on a small lake.
They didn't allow jet skis, soit was a really quiet, serene
place.
And I'm at the point in mycareer where you know I want to
do something I love, and I lovethe water.
So I've been an insurancebroker for 36 years.
(01:42):
Wow, and yeah, and what calledme to this?
That's a great question.
I really just feel like it'svery difficult for boat owners
to get the truth unhindered froman insurance agent.
They're expected to, you knowboat owner is expected to become
an expert in insurance and tounderstand the fine print
(02:06):
without having this kind ofrelationship.
So often you find that you knowboat owners, especially when
they have a claim, are given an800 number or they're expected
to go back and read their policyand understand how the pieces
all fit together with thepromises that they've made as a
boat owner.
Capn Tinsley (02:23):
That's for sure.
Okay, from your perspective,what's the most common mistake
you see boat owners make withinsurance?
And that kind of leads intowhat we were just talking about
offline.
Kerry Gonzalez (02:36):
Focusing on the premium.
You know I'm going to make alot of enemies on this call when
people say that because we areall cost sensitive, we move to a
boat or we decide we're goingto spend time on a boat with the
expectation that you know we'regoing to save some money.
Right, and I know you and Iwere just talking about my
(03:00):
common thread of our work, whichis insurance is not your friend
, we're not a good neighbor,you're not in good hands.
It is very simply not a warmfuzzy.
It is a two-sided contractwhereby you agree to certain
things and the insurance companysays that if you uphold your
warranties and promises to me,we might pay coverage and we
(03:24):
might depreciate things and wemight attach certain conditions
we might want to investigate,and so it's really important to
read the fine print.
Capn Tinsley (03:34):
Would this be a good place to talk about the
whole GEICO thing?
Kerry Gonzalez (03:39):
Yeah, it wasn't in our plan at the beginning.
But I think GEICO is importantbecause GEICO used to work with
independent agents.
I had a few hundred boats withGEICO at one point in time and
GEICO made a decision to cut theindependent agent out of the
equation.
And now, if you have GEICO, youhave to go to a service center.
So if you have GEICO, youbasically really need to become
(04:03):
an insurance expert.
When they renew your policy,they may self depreciate from
year to year.
They might lower your value, soyou really have to watch that,
because they're going to lowerit without your permission and
you do not have the option ofappealing that whatsoever.
They may also take yournavigation box and narrow it.
(04:27):
So you may have had Bahamaslast year and maybe this year
they're going to take it away.
Bahamas used to be somethingthat they covered on an
unlimited basis if you asked forit.
Now they cover up to 90 days onthe policy year and you have to
tell them where you're goingand how long you're going to be
in the Bahamas.
(04:48):
So you have to give them thedates and it has to be within
that 90 day parameter.
And there are other companieslike that also.
Now, the other important thingto note that we were talking
about earlier with GEICO is youhave to be looking at the fine
print on the.
They send you a piece of paperon the top of your insurance
(05:08):
policy, either electronically orthrough the mail.
That basically says it's yourresponsibility to notify us of
any material changes, includingyour location.
So you have 14 days to updateyour location with GEICO or you
have to go to the self-servicewebsite and update your storm
plan with them.
So if you're a cruiser who'sconstantly on the move, every 14
(05:32):
days, you're going on to theself-service website and you're
updating your location andyou're redoing your storm plan
form.
Capn Tinsley (05:39):
And.
Kerry Gonzalez (05:39):
I wasn't really prepared for this question in
advance, but if anyone wants toreach out to me afterward for me
to explain how that works, justknow that I'm doing it as a
consumer service.
I do not represent Geico, but Ican do their storm plan and the
self-service website that youneed to go to if you can't seem
to find it in your paperwork.
Capn Tinsley (06:01):
Okay, and this also is on the audio podcast
website, so, for those that arelistening, her email is Carrie
at AMG insurance internationalintlcom.
That's Carrie Gonzalez, sothere's the email right there.
But that, yeah, that's veryhelpful and I didn't know that
and so I was breaking the rules.
So, thank you.
(06:21):
So I'm going to tighten up onthat.
So let's talk about the olderboats, and then we can go
wherever you want.
But I've got some questions foryou.
How do underwriters define anolder boat, and when does that
start to affect coverage?
Kerry Gonzalez (06:38):
Yeah, so it's the proverbial, it depends.
So you know, geico's rule is inthe underwriting guidelines.
The written rule is 30 years.
So you're getting close ifyou're, you know if you're
before right they maygrandfather some votes in, but
(07:00):
if you're a new vote going tothem and you're 35 years old,
they're going to reject you.
So it really depends on themarket and it depends on the
value.
So if you, you know, have ahigher valued boat or you've
(07:28):
gone through a total refit andyou've kept your rece of the
boat and they're not justcosmetic and you know routine
maintenance, then you might bein a different market.
But let's go back to theunderwriting definition of an
older boat.
Okay, for the most part, if yourboat is over 150 000 in value
and you're more than 26 yearsold, most markets in the United
States will reject you.
(07:48):
So it's important to know thatthere are options outside of the
independent agent market.
So if, for example, if you arein the United States and you
still want to go to the Bahamasbut you're not going past the
Bahamas, you might be able to goto a direct writer such as a
(08:11):
state farm.
State farm plays with largervalues, older boats they don't
really like to write liveaboardsor people who are never in a
marina, so that's important toknow.
But if you have a home base andyou're just cruising and going
(08:32):
to the Bahamas, they would be agood option to check with.
Capn Tinsley (08:36):
Well, let me, when I, when I, they allowed me to
update my coverage from havingaddendums to my survey and they
even made exceptions, like itwas more than a year, but they
got it approved, and so that'sone way of showing, because I
had gotten a bunch of upgradestwice.
So that is a way, right, toshow proof that you have
(08:59):
upgraded your boat, right.
Kerry Gonzalez (09:01):
Yes, but it's a fine line between an upgrade and
a cosmetic or routinemaintenance issue, because
sometimes you I mean if you'rein real estate you know that if
you're, if you're making acosmetic change in it, it
improves your curb appeal.
It doesn't necessarily improveyour value, it just improves the
(09:22):
way people view it Right.
It just improves the way peopleview it right.
So it depends on the market.
But whether you're looking attrying to place insurance for
the first time or you have aclaim, you should always keep
your records and you shouldalways keep an electronic copy
of your maintenance records.
I walked onto boats wheresomeone has a binder with all
(09:44):
their receipts and they'reorganized and beautiful.
But let me tell you we haveresponded to fires where
everything has burned and all ofa sudden the claim becomes in
question because they can'tproduce the maintenance records
to justify the value or tojustify why the fire happened in
the first place.
Because if you can't producethe receipts, then you may not
(10:06):
be able to prove that your fireextinguishing equipment was
updated, that you had regularoil changes, that you had
inspected a chain plateinspection.
You need to keep the records incloud form on the internet.
Yeah, I do both.
Good, that's really smart.
I've seen a lot of people getburned during a claim because no
(10:30):
pun intended, because theycan't produce records, it's so
important.
And then when you do go to shopyour insurance so say, in five
years Geico drops you becausethey say, okay, we're not going
to write a boat that old anymoreFor a new market.
You may have to produce allthose receipts all over again,
or at least a spreadsheet, andthen they might come back and
say, oh, can we see this receipt?
(10:51):
On this receipt to justify it.
So it's both for applying forinsurance, applying for new
markets, as well as if you havea claim.
That's really the whole pointof this conversation is we don't
buy insurance just to have apiece of paper.
We buy it so that if we have aclaim that's unexpected and
unintended, we can be madefinancially whole.
Capn Tinsley (11:16):
Right.
Okay, so I do have a questionfor people watching either now
or later in the replay, which iswhere most people watch.
For those of you watching live,what's the age of your boat?
Have you ever had an issue withgetting coverage because of it?
So I'd love to hear yourcomments in the comments.
Okay, so what kinds of this iswhat we just covered?
(11:38):
What kinds of maintenancedocumentation make the biggest
impact with underwriters?
What's the biggest thing thatgives you value?
Kerry Gonzalez (11:47):
Yeah, so it's not so much the value that the
underwriters are looking at.
They want to know that yourboat is a fair market value.
So if the survey says it'saverage or below average value,
(12:08):
underwriters don't like to seethat.
So they're going to look veryspecifically at the survey.
You're not going to look at thenumber behind the value as much
as they're going to look atokay, this surveyor he's like
God, you know he's gospel.
If he says your boat is worth125 000, it is.
They're never going to questionthat.
They're never going to questionthe comps.
(12:28):
So it really goes back to thefair market value in your survey
now I've got a bristol, you gotit, and I said what's that?
Capn Tinsley (12:39):
and she says it's the best you can get, or
something like that.
So I didn't't know.
They did that until and so andGeico accepted that.
Kerry Gonzalez (12:47):
You know, yeah, and if you're in this, if you're
in the standard market, mostmarkets really want to see that
you have a NAMS or SAMS relatedsurveyor.
Those are the two surveyassociations.
Otherwise they're going toquestion the validity of the
survey.
And if you're with a Londonmarket I just want to go back
for a second so we don't missthis If you're with a London
(13:08):
market, the London markets mayspecifically ask you to resurvey
your boat every two or threeyears.
Capn Tinsley (13:16):
That was my next question.
Kerry Gonzalez (13:18):
Okay, yeah if your boat's more than 26 years
old.
You need to be prepared forthat and if you go to the survey
, it's really helpful to be atthe survey and discuss with the
surveyor.
Look, here are my records.
Here's last time we did an oilsample.
Here's my chain plateinspections, which are quite
(13:39):
common, because that's notsomething that's covered by
insurance.
So you want to show thesurveyor all your records so
that they're incorporated intoyour survey okay.
Capn Tinsley (13:48):
Yeah, I'm due for uh to get another survey, so, um
uh, cecilia potts, do you knowthat name?
No okay, she's like the go-tofor island package.
She does other boats too, buthayden turned me on to her and
she is wonderful.
Good yeah, so, okay.
So that was my next questionhow often should a HALT survey
(14:12):
be done and why should surveyrecommendations be in the HALT?
Kerry Gonzalez (14:15):
That's a different question, dinsley.
How often should you do asurvey?
You should do a survey as oftenas you need to change your
insurance, okay, but you saidevery two years If you're with
the same market.
But if you're with a marketthat you're worried will drop
you because you had a claim orsome other reason, then you
(14:35):
should have a survey that is,within the last two years,
because surveys are valid withevery market for two years.
And we're talking about outerwater surveys, we're not talking
about in water.
In water surveys are no longerutilized for underwriting
purposes.
Capn Tinsley (14:52):
Okay, okay.
How important are rigginginspection records and receipts
when it comes to proving aboat's condition?
Kerry Gonzalez (14:59):
Yeah, so surveys have to be in your own name
when you buy a boat because yeah, that was in the proof
objectivity.
But if you um, if you have, ifyou're buying a new island
packet and you have riggingreceipts from the former owner,
they'll take the riggingreceipts or a formal rigging
inspection in anyone's name.
It doesn't have to be objective.
(15:19):
They want to see that therigging has been cared for
throughout the lifetime of theof the rigging.
And the other thing is, if you,if you get the rigging has been
cared for throughout thelifetime of the rigging.
And the other thing is, if youget new rigging, like I know,
colin, he'll give you a freeformal.
I don't know if I'm allowed tosay this, but I know he's given
lots of people free formalrigging inspection reports when
(15:40):
he's replaced the rigging.
So most people don't ask for itbecause they don't know that
underwriters want to see it.
So if you're getting newrigging, make sure you ask for
it because usually it's free.
Capn Tinsley (15:51):
Okay, yeah, I'm going to try to arrange when I,
in October, I'm going to go fromOrange Beach to the Keys and
then to the Bahamas and I'd liketo stop in there and either
because it's a 1998 boat, youknow, and that is about the time
they were changing thatstainless steel and I don't know
(16:12):
I've been told that, yes or no,that it can be inspected, but
you know, I don't know thatthat's true with the island
packet inside I'm talking aboutinside the boat.
Yeah, but it's time for me todo something, so I might try to
arrange something with themwhile I'm down there.
Um, what's, uh, what's thedifference between agreed value
(16:35):
and actual cash value policy,and which is better for older
yachts?
Is that a good question?
You smile.
That's a great question, okaygood.
Kerry Gonzalez (16:43):
If you come to me and you say I want to save
money, I want to buy an actualcash value policy, I I'm not
going to sell you insurancebecause I feel like insurance,
even without actual cash value,is based on trickery, deceit and
you know just language that thecommon person doesn't
(17:06):
understand.
It's even hard for agents tounderstand it.
Why would anyone buy actualcash value?
That's going to look at theambiguous opinion of the
lifespan of an engine or awatermaker and they're going to
form an opinion.
Okay, your watermaker shouldhave a lifespan of five years.
So we're going to depreciate itand a lot of times depreciation
(17:29):
happens more with soft goods,but I've seen policies that
depreciate everything on olderboats.
I would never buy an actualcash value policy because it's
very deceptive and verymisleading.
Agreed value is the true conceptof insurance.
It's the concept ofindemnification.
It makes you financially whole.
(17:50):
Whatever you put in it is whatyou get back out of it.
Nothing more, nothing less.
So if you bought it for $75,000, you get $75,000 back, right?
If you have a total claim, youknow total loss right.
Capn Tinsley (18:06):
If you have a total claim, you know total loss
.
Does that answer your question?
Well, what if you?
What if you?
You buy it for for 85 orsomething and then put 30 000 in
it, not including labor?
Right and then you, I did theaddendum, so is that?
Is that what you're talkingabout?
Kerry Gonzalez (18:21):
so some insurance companies will allow
you to update the value Right.
You can still do it on anagreed value basis.
Some will say, okay, thosethings are general maintenance
for an older boat.
It really depends on theunderwriter.
Capn Tinsley (18:36):
Okay, all right.
Well, I added, like you know,solar and lithium, all this good
stuff you know did yeah okay.
Kerry Gonzalez (18:45):
So there's another important thing.
It's really important, if youadd lithium, to disclose that to
your agent or your underwriterin writing and get an
acknowledgement back that theyknow there's lithium on your
boat.
Now if you're with geico,you're fine because the policy
is silent.
But if you're with a companylike markel or there's a list of
(19:05):
others, and you have lithiumand you haven't disclosed it,
you've voided your coverage,because all lithium is excluded,
doesn't matter whether it'slithium ion or lithium iron
phosphate.
If you have lithium and youdidn't disclose it to one of the
markets that excludes it, youvoided your coverage.
So it's really important tohave that you know regular
dialogue.
Capn Tinsley (19:24):
What if it's in the survey or the addendum to
the survey?
Kerry Gonzalez (19:30):
I would take an extra step of making sure you
point it out to the agent oryour representative in writing,
and don't just point it out, butmake sure you get an
acknowledgement back thatthere's lithium and it's covered
okay, wow, you're definitelyright.
They're not your friends youdon't you likely don't have
(19:50):
coverage for lithium.
Capn Tinsley (19:52):
It's not the intent of their policy to cover
lithium okay, all right, I knowthat the, the, the technology,
the technology has gotten muchsafer.
They don't view it that way.
Kerry Gonzalez (20:07):
So we're not talking about my opinion or any
particular underwriter's opinion.
We're talking about a scenariowhere the narrative has not been
controlled.
It might have been a lithiumbike or a lithium toy of some
sort, or a lithium battery thatwas purchased off Amazon, or a
(20:30):
used Chinese battery your marketbatteries but that gives the
whole lithium scenario a bad rap.
And so there's certain marketswho've just taken the posture
that we're not going to assesswhether it's good, bad,
indifferent whether it's OEM oraftermarket, and you're a
do-it-yourselfer.
(20:51):
We're just going to say look,all lithium is excluded.
So if you have lithium, makesure you get confirmation back
from your agent that it iscovered on your policy.
Capn Tinsley (21:03):
I might hire you.
Kerry Gonzalez (21:08):
I don't represent GEICO because GEICO
doesn't.
Capn Tinsley (21:09):
No, I mean switch to you, because I would like to
speak to a person like you.
Kerry Gonzalez (21:15):
So anyone can call us, we can answer questions
.
But I think you've understoodfrom our initial dialogue that
if independent, we're anindependent agent.
If an independent agent marketis not the best scenario for you
, we're going to be the firstones to tell you look, we'll do
you a favor, we'll educate youon the markets that can do this,
(21:36):
but it's not us.
And there are some markets thatyou might have leverage with.
If you have property, if youhave an auto policy, if you have
life insurance with them thatyou might be able to get an
exception on your boat insurance.
Okay, where they might notwrite your boat, they might not
(21:59):
insure your boat on a standalonebasis, like, for example let me
give you a few examples yeah,on a standalone basis, like, for
example, let me give you a fewexamples yeah, I've got a lot of
insurance with farmers.
If you have any insurance withHanover, they will likely accept
your boat, but they do not wantto see boats in Florida.
If you have insurance withChubb, they will likely accept
your boat.
What about farmers?
(22:19):
And y'all come back to that one.
So Chubb will do Florida ifit's not a scenario with an
absentee owner, like they don'tlike snowbirds, but they do
select situations in Florida forboats and you do have to have a
(22:40):
survey in certain situations,but it really just depends.
Now, farmers, the boat side offarmers is foremost insurance
and we do have foremost.
But you can't be a live aboard.
So if you're and they're thesame as it's the same way with
progress.
That is the company that I hadbefore okay through that
(23:01):
brokerage yeah, so we, so we, wehave foremost, we, we.
We represent foremost andprogressive, but one of the
common mistakes people make isgoing, like I said, with the
cheapest, but in the fine printof foremost and progressive.
It is not their intent toensure liveaboards.
So that's really important toknow.
(23:22):
And they also have stoppedriding really old boats.
So it just depends on yourscenario and where you are.
Capn Tinsley (23:29):
What did they stop riding Back to the homeowners.
What did you say?
They stopped riding?
On what boats?
Kerry Gonzalez (23:38):
Really old boats .
So it depends on where yourboat is.
If your boat's in Florida, theydon't want to necessarily write
boats in Florida that are, youknow, over 10 years old.
In some scenarios it depends onthe value.
What about next to?
Capn Tinsley (23:53):
Florida.
Kerry Gonzalez (23:56):
Very like clean line, where you know where it
depends on their, their, theirmarket, you know.
Capn Tinsley (24:04):
Okay.
Kerry Gonzalez (24:04):
Here.
Capn Tinsley (24:05):
Hayden's asking a question here.
Sb Island Spirit.
What's great insurance forCaribbean cruisers?
Six months per year, that'sthem, you know.
Okay.
Kerry Gonzalez (24:14):
Let me finish this one answer, though, because
the truth is, if you havehomeowners and auto, you can
also go to Pure Insurance.
They make exceptions.
Mount Holly will makeexceptions.
If you have a higher valuedboat and you have property with
AIG, they may make an exception.
Ok, caribbean.
(24:35):
So we have a partner in theCaribbean.
That is not a true partner,it's just someone that, look, if
I own an island packet and Iwas headed to the Caribbean, I
would insure with this group andI send a lot of my customers
there.
So they're not on this callbecause their team leads are on
vacation this week.
But I'm happy to direct anyoneto them.
(24:56):
I don't get paid for it.
So this is extremely objectiveadvice.
But there is a broker out ofBarbados called Arthur Gallagher
, and I can give you thecontacts for their entire team.
They have about eight marketsthat will write Caribbean
coverage on sailboats inparticular.
One thing to know, inparticular, is they they do not
(25:20):
like the litigious nature of theUnited States of America, so
they don't like that.
We all sue each other.
So if you're going to theCaribbean and you're bringing
your boat back to the US thisyear or within the policy year.
Their markets do not want toinsure you.
Capn Tinsley (25:36):
Well, what about in the case of Hayden, where he
leaves it there If he?
Kerry Gonzalez (25:39):
leaves it there, then Hayden should reach out to
me again and I'll hook him upwith this team.
And the one thing to know isthat they do not like to write
uninsured voters because theyattach it to that whole stigma
of you know lawsuits againsteach other.
But it's important to know thatif you're going to the
Caribbean, a lot of people don'tinsure in the Caribbean.
(26:00):
You better ask for it and youbetter push for uninsured
boaters to be included in yourinsurance.
It doesn't really affect thepolicy much, but if you just
take whatever they give you,you're not going to get
uninsured.
Capn Tinsley (26:13):
So when you say uninsured boaters, you're
talking about the people aroundyou on other boats.
Is that what you're saying?
Okay, yeah, they don't cover ifsomebody hits your boat or
something.
Right?
Kerry Gonzalez (26:24):
Okay, right, or if you're?
If you're, if you leave yourboat there, your boat breaks
loose and they can't determine.
You know, if there's fouruninsured boats and there's your
boat and yours is the only onewith insurance, guess who's
paying?
Yeah, so, um, it's reallyimportant to have uninsured
boaters and if you know that,going into it and you ask for it
(26:44):
, it really doesn't affect yourpremium.
And this particular broker wasnamed one of the most ethical
brokers in the world many yearsin a row, which is not something
you often see attached to aninsurance agent's name.
Capn Tinsley (26:58):
I'm not kidding you.
I know I believe you.
Kerry Gonzalez (27:00):
I've referred hundreds of boaters to them and,
like I said I've never hundredsof boaters to them and, like I
said, I've never taken a pennyfrom them, even for a referral.
But then you know it comesaround because when they have
boats that are coming back tothe U S, they send them back to
me and then, and then we have toknow that, look, if you're
coming back from the Caribbean,you might need a new survey.
(27:21):
You might need to have yourfire extinguishing equipment
inspected and certified.
Capn Tinsley (27:27):
Okay, here's a question for you.
How do coverage options differbetween non-hurricane prone and
hurricane prone waters?
Kerry Gonzalez (27:37):
I like it when you smile when I ask a question.
I think I've hit a goodquestion when you do that.
Yeah, let me start with theworst part of the answer.
Okay, you and I were talkingearlier about the worst case
scenario, which is a specificmarket called GIA Global
(27:58):
Insurance Agency.
It's actually an insurancecompany that uses the Buford
scale as the deductibledetermination, so as the wind
speed increases, your deductibleincreases until you know when
you're at a category four orfive you're basically paying a
(28:19):
hundred percent deductible.
Capn Tinsley (28:19):
I've never heard of that.
Kerry Gonzalez (28:20):
That is crazy, yeah.
Well, people are prettydesperate for insurance right
now, so they're buying a lot ofcrazy things, but that's still
not the worst option, becauseyou can buy Chinese or Russian
based uh, russian backedinsurance and it's important to
really know, you know, is AMGpaying my claim?
No, the agent is never payingthe claim.
You better know what.
What name is going to be on thecheck?
(28:41):
That's paying your claim?
Yeah, you don't have to talk tothem again.
Capn Tinsley (28:43):
Right.
Kerry Gonzalez (28:44):
But back to the question about hurricane
coverage.
The hurricane coverage and Icould spend hours on this, the
hurricane coverage alwaysrelates back to your storm plan.
So let's talk about you.
So you're with GEICO, so readthe fine print.
So GEICO says that your stormcoverage only applies if you
(29:07):
update your storm plan for everynamed storm or within 14 days
of changing locations.
I've never done that.
Capn Tinsley (29:14):
I didn't even know .
You can read the fine print.
Kerry Gonzalez (29:17):
Yes, but even if that's not in the fine print.
So Geico requires you updateyour location regardless of
whether it's a storm or not.
Other companies just say look,you have to update your location
for a named storm.
72 hours before a named stormcomes in and you're in the cone
of uncertainty.
The entire market in insuranceshuts down and they say real
(29:39):
estate closing stop no morechanges, no new business.
If you haul your boat out andput it on the hard because it
was truly a better scenario, youjust voided your coverage
because your actual formal stormplan with the insurance company
said you were going to be atXYZ Marina and you're not where
you said you were going to be.
Capn Tinsley (29:59):
Okay, well, I do remember doing a storm plan and
I said I was going to try tohaul out.
Kerry Gonzalez (30:05):
So someone is asking a question about Markel.
This is Hayden.
Okay, okay, so, yeah.
So Markel is famous forrequiring a haul-out for every
named storm.
The reason I'm saying it andenunciating every word is
because that means every.
That means tropical storm,bertha.
(30:28):
That means a Category 1.
Capn Tinsley (30:33):
That means every name storm you just have to plan
on losing your boat.
Well, I'm shocked.
I got paid last time I do.
Kerry Gonzalez (30:45):
I do sell markel policies that have that, but
normally they're for scenarioswhere someone is actually
hauling out for the entireseason.
So for Hayden in particular,hayden, one of your best options
, depending on where you're atwill likely be a direct to
market.
It won't be through me, but weshould have a separate online,
(31:07):
offline conversation about whereyou should be going and how you
should answer the questions.
Um, you know, answeringinsurance questions is like
going before a judge and thejudge says, okay, uh, you know,
tinsley, were you speeding?
And you say, well, it's notreally yes, it's not really no.
Here's why I was driving reallyfast it's so situational, it's
(31:27):
very situational.
Capn Tinsley (31:28):
Well, in his case, he does haul out.
When he leaves the boat, hehauls it out and prepares it and
chains it down, does all kindsof stuff, and is that the best
scenario?
The?
Kerry Gonzalez (31:38):
best scenario is to treat your contract as if it
is like black and whiterequirement.
So if you're not putting ninefenders out, don't put on your
storm plan that you're puttingnine fenders out, okay.
I had an Island Packet owner onthe phone today.
(31:59):
I don't know if they're on thisor not, so I'm not going to
name them.
Capn Tinsley (32:04):
They might see it eventually.
Yeah, if they are.
Kerry Gonzalez (32:06):
I'll apologize in advance, but we had to change
their storm plan.
Their storm plan had them in adifferent location.
They know the drill, they'vebeen with me a really long time
and they're actually in a betterscenario.
They went north instead ofsouth, which they don't normally
do.
So what we did was we pulled upthe map and they truly do not
(32:27):
want to be in a marina, and Iget that.
I, you know I rarely have claimswhere someone is, you know,
anchored out or in the mangrovestied out, and they really are
good risk managers of their ownyou know destiny.
But I have.
I do have claims in marinas anda lot of times it's things you
(32:48):
can't control.
The cleat breaks loose, someoneelse's boat breaks loose, you
can't control the projectiles,you know all kinds of things
happen in marinas and I'm notsaying one is right or one is
wrong.
What I am saying is that what'sright and wrong is whatever's
in your insurance contract.
So what we did was we pulled upthe map and you know their plan
(33:08):
was to be up river a certainnumber of miles, and I warned
them if you say you're 30 milesup north, I have to give a
radius with a longitude andlatitude.
And so what I do is I do it alittle bit more creatively for
someone who's more of afull-time cruiser and we give a
range or a plan A, b and C.
(33:29):
We build in caveat wording thatstill allows you to make a
judgment call, because I don'tknow if you're watching the
weather for next week, but youknow, if you have an insurance
company that says you must beoutside the cone of uncertainty,
you're really going to struggleto get outside that cone in a
sailboat.
You cannot run in a sailboat, soit's better just to tell the
(33:51):
truth and say look, I'm notrunning, here's my plan A, b and
C.
But then again, if you're witha state farm, they're not going
to scrutinize your storm planthe same way as other markets.
Just as an example, maybe weneed to talk about other markets
, but if you're making anychanges, you have to make the
changes more than 72 hours inadvance of the storm or the cone
(34:12):
of uncertainty.
So we pulled up the map, but itchanges.
It does change and I get thisoften.
It does change.
So that's why we pull up themap.
We do our plan a, b and c, webuild in caveat wording, we give
the underwriters an actualsnapshot of the map.
That map that says we're goingto be in this box and we will
(34:36):
either be in this marina oranchored up river in this box.
Capn Tinsley (34:43):
Okay, so this is his name is Goose.
His nickname is Goose Holyguacamole.
These policies have more holesin them than Swiss cheese.
Kerry Gonzalez (34:53):
Right, yeah, I told you like insurance boat
insurance we're not your friend,you're not a good neighbor, not
in good hands.
It's a contract that allows youto get into marinas and if you
are buying insurance for thetrue purpose of being
financially whole, you betterread every word in your policy
or have an agent that's going toexplain it to you.
Transatlantic policy.
(35:15):
So we wrote one this morning.
It was a sailboat that wascrossing the ocean.
We had three operators thatwere going to do the crossing.
The wife did not want to gowith these three guys.
They're all engineers.
They're probably going torebuild the boat on the way
across the ocean.
(35:38):
One of the three had a priortransatlantic crossing in his
experience resume.
The other two did not.
So we went back and forth, backand forth for three weeks,
articulating their resume indifferent ways and slicing and
dicing it.
How many miles offshore hadthey been?
How many days had they beenoffshore, what's the furthest
(36:03):
nautical mile point that eachone of them had been and how
many times have they been there?
Because if you're doing atransatlantic crossing,
underwriters want to see thatyou have blue water experience,
and blue water, from anunderwriting perspective, is not
defined as going down the ICW,jumping to the Bahamas and then
(36:26):
jumping to the Caribbean, thatis not blue water.
But if you're doing the saltydog and you're jumping from
somewhere in the Chesapeake overto Bermuda, going down to
Antigua, that trek to Bermudaand down to the Caribbean is
blue water, yeah, what aboutgoing across the Gulf?
Capn Tinsley (36:46):
Not blue water, really.
Kerry Gonzalez (36:48):
No, hmm.
Well, geico and most of the USmarkets are not filed for
Caribbean coverage.
So you're looking at, you know,a foreign market like Lloyd's
of London Syndicate, a Europeanmarket, a Bermuda market, you
know, or a Caribbean market.
You're not looking at a USmarket anymore.
Capn Tinsley (37:10):
And that's if you're going across the Atlantic
.
Yeah, and if you're goingacross the Atlantic, each
operator must be approved ontheir own merit and you have to
have a minimum of two.
Kerry Gonzalez (37:13):
And that's if you're going across the atlantic
, yeah, and if you're goingacross the atlantic, each
operator must be approved ontheir own merit and you have to
have a minimum of two to threeoperators because they want to
say okay, right, look, iftinsley and hayden and I are all
going across the ocean sorry topick on you, but if we're
crossing the ocean together and,uh, you start coughing and I
(37:33):
have a heart attack and thenHayden's the only one left,
there's no one to take thesecond watch.
Capn Tinsley (37:40):
Are they going to do a physical of us?
Kerry Gonzalez (37:42):
No, but they do want to see that they're.
So if you're doing a crossing,it's based on a named operator
policy and you have to have twoto three named operators at a
minimum.
They want to see three who?
Two to three named operators ata minimum.
They want to see three who areapproved as named operators.
Capn Tinsley (37:59):
What about there's a sailor who just, with no
experience, just went fromOregon to Hawaii and he became
really famous, is sailing withPhoenix.
I didn't even think to ask himabout his insurance.
Kerry Gonzalez (38:13):
Yes, that's a little different because there
are markets that will do thosewaters, so it depends on the
water.
So then the map of the world.
I mean, if we took the map ofthe world, you know, each, each
insurance market would take theworld map.
I used to have one on my wall.
It's gone, but they would drawa box and and draw like 12 boxes
(38:38):
around the world of where eachnavigation box could go.
Ok, travelers will draw boxesthat don't match with Hanover.
Hanover will have boxes thatdon't match with Chubb.
Chubb will have boxes thatdon't match with, you know,
guardian, one of the one of theCaribbean markets, guardian, one
of the one of the Caribbeanmarkets.
So it's really best to have aconversation with your agent
about your monthly itinerary forthe next 12 months.
(39:00):
There is no such thing as tripcoverage.
So you want to have a.
I have an itinerary form youcan use as kind of a, you know,
to develop your plan and you'regoing to have a conversation
about.
You know where are we going for12 months and if that's going
to change over time, you mightchange markets.
Capn Tinsley (39:19):
Okay, so the next two questions on my list are
what are the pros and cons ofbundling yacht insurance and
other policies through companieslike AIG, hanover or Chubb, and
what unique opportunities doLondon markets offer yacht
owners compared to US markets?
Kerry Gonzalez (39:34):
what unique opportunities do London markets
offer yacht owners compared toUS markets?
Capn Tinsley (39:41):
Okay, so London is surplus lines non-admitted,
non-standard insurance.
Kerry Gonzalez (39:43):
Okay, what does that mean?
It's a skeleton policy.
You're getting less coveragefor more money and higher
deductibles, more conditions,more warranties, more
limitations.
London bad no, london is notalways bad.
If you have an older boat,london might be necessary, but
London is especially somethingthat you really need to read
(40:03):
your policy on.
So if I'm going to writeinsurance with Lloyd's of London
, it's like the US market butit's syndicates, and if I write
insurance there, I have to provethat I went to markets in the
United States and got rejectionsfor your insurance, just to be
allowed, as an agent, to go toLondon.
Capn Tinsley (40:22):
Okay, all right, hayden, a local Caribbean policy
.
Won't let you sail to.
Kerry Gonzalez (40:27):
USA.
Capn Tinsley (40:28):
How do you cover that when you sail for USA?
Kerry Gonzalez (40:31):
No, you have to switch back and forth.
So a Caribbean market is not afit for you because they always
look at your 12 month itinerary.
So if you, your 12 monthitinerary includes the U?
S and the Caribbean, we'regoing to Lloyd's of London.
Okay, and Lloyd's of London islike over 200 syndicates and
there there are just a handfulthat write boat insurance.
Capn Tinsley (40:57):
That's a lot.
That's a lot.
I am definitely going to lookinto hiring you, or, if you even
can you know for my boat?
Kerry Gonzalez (41:10):
Well, I'd be happy to give you advice.
Like I said, you know, incertain scenarios I'm not the
best option, but I can give youan objective opinion on who is
Right, Because I'm definitelygoing to have to be more
involved with my insurancepolicy.
Capn Tinsley (41:23):
Obviously I'm not doing that.
I'm doing everything wrong andhoping for the best.
Kerry Gonzalez (41:30):
Let me give you a hint that if you're buying
from a company that you get adifferent person on the phone
every time and it's an 800number.
You better be an expert on yourinsurance.
Capn Tinsley (41:39):
Yeah, that's my situation.
How do named operator policieswork, and when might permissive
use be a better?
Kerry Gonzalez (41:47):
You talked about named operators, if you're in
the United States water andyou're with a United States
insurance company, you're notalways, but likely on a
permissive use form.
Geico is a permissive use form.
Geico, progressive, chubbTravelers they're all permissive
use forms.
Capn Tinsley (42:06):
And what does?
Kerry Gonzalez (42:06):
that mean?
It means, Chinsley, if you tellme I can operate your boat and
you give me permission and justlike giving me permission to
drive your beautiful car, I'mcovered.
But if we're crossing the oceanor we're going to a London
market or non-standard insurance, you're going to have a named
operator policy that'll be basedon my resume and my specific
(42:27):
merits about whether or not I'meven capable.
Capn Tinsley (42:30):
Okay, so I had.
I had someone move my boat whenI broke my ankle and the
captain said add me to yourpolicy.
I contacted him and they saidyou're already covered for that.
Kerry Gonzalez (42:58):
All of a sudden it falls under the
Longshoremen's Act, which is afederal statute that says you're
responsible for their illnesses, injuries and diseases.
It doesn't necessarily meanthat your insurance is going to
pay for that financialresponsibility, because if you
don't add them it's not covered.
So there are some companiesthat will include coverage for
incidental crew one or two on anoccasional basis.
But you don't know that untilyou reach out to your agent or
(43:22):
underwriter and they tell youit's covered and you want to
tell them okay, I'm hiring thisperson for this many days,
here's where they're going andthey are paid crew.
Capn Tinsley (43:30):
So that would be just like in the case of Geico
going into the portal andemailing them, and then they
answer and say you're good,that's my proof right there, as
long as you get confirmationback, then you are good.
Kerry Gonzalez (43:45):
But make sure that you're not just emailing
them and, assuming that you'regood, you can never assume that.
Capn Tinsley (43:52):
I think that's the message for today.
Yeah, the tip of the day is yougot to go through that policy
and know it, and it's all blackand white, it's literal, it's
very literal.
Kerry Gonzalez (44:05):
But back to that storm question.
Just because this is perfecttiming to give everyone this
reminder, make sure you readyour policy and read the fine
print and then go back and readthe applications and all the
supporting documents youprovided to see if you make need
to make any changes beforeyou're in the cone of
(44:25):
uncertainty.
Capn Tinsley (44:26):
Because once you're in that 72 hour, you mean
like a plan, like yourhurricane plan or storm plan?
Kerry Gonzalez (44:34):
Yeah, exactly so .
For example, we were talkingabout lithium.
If you don't have confirmationback from your underwriter that
you had lithium and they werecovering it, it doesn't matter
if it's a named storm issue ornot.
Make sure you've disclosedeverything.
You've read everything, becauseit doesn't matter if it's
connected to the fact there's anamed storm coming.
(44:55):
If you have not disclosedeverything, you can void your
coverage.
Capn Tinsley (45:00):
And again, if it's in a survey that they approved,
that doesn't count.
I mean, you really should emailit to them in the portal and
get a confirmation back.
Kerry Gonzalez (45:10):
Yeah, because they're taking everything into
consideration, not just thesurvey.
Sometimes the applications willeven ask the question of
whether or not you have lithiumyeah, and I can't remember.
Okay, there are a few marketsthat even ask if you had solar.
So just make sure that if youthink that you've added risk to
your boat or your location oryour captain crew situation or
(45:34):
your equipment, make sure youtell the underwriter or the
agent and get approval back thatit's covered.
Capn Tinsley (45:41):
Is that for everything?
I mean?
What if it's like you get a newautopilot?
Kerry Gonzalez (45:46):
Yeah, well, that one you should definitely tell
them, because that's usuallyworth the discount.
Capn Tinsley (45:51):
Well, but I already had one, but a new one
would give you a discount, well,if it depends on if geico
included that in your discountlist when you first applied.
So just you know if you, I'mgonna have to start from scratch
.
okay, yeah, because I'mdefinitely in the uh, this area
(46:11):
right here is, in my opinion, ismore risky than the West Coast
of Florida, you know, in theNorthern Gulf Coast.
Yeah, okay, and you can addwhatever.
But I am going to ask you aboutsome liveaboard.
What's the definition?
What's the liveaboarddefinition, insurance terms and
how can it impact coverage wetalked to?
(46:32):
They don't really like that.
They don't really likeliveaboards.
Kerry Gonzalez (46:35):
That's a great question, tinsley, because
people will say that they're aliveaboard and then they use my
address or their long lostcousin's address, or their
mother or their cousin, whatever.
That's not an acceptable answer.
You cannot use someone'saddress where you do not live
(46:55):
and say that you're not a.
That's not an acceptable answer.
You cannot use someone'saddress where you do not live
and say that you're not aliveaboard, that you're not a
liveaboard, do not want toensure live aborts, so this is a
(47:21):
very important question.
Um, if you have a green CoveSprings address and you do not
have a mortgage deed or leasesomewhere with space where you
have things and you go sometimes, then you are a liveaboard.
Capn Tinsley (47:38):
If you okay.
If you you, what about okay?
So if you give, if I'm aliveaboard, but I have an
address where I get mail, isthat what you're saying?
Kerry Gonzalez (47:49):
Is that?
So?
Let me give you an example.
I've got a guest room and if Itell you okay, tinsley, I'm
going to give you a lease andyou're going to pay me a dollar
every year for my guest room andyou're going to keep some
clothes here and once a yearyou're going to come here and
you're going to use my guestroom.
That's very close to Mac.
Capn Tinsley (48:20):
You are not a liveaboard because you have
signed a lease that says thatyou have actual space in my home
and there is legal tenderexchanged with that dollar.
So you can't even have a housethat you use as a home base and
you're living aboard, you know,10 months a year.
You're still not a liveaboard.
Kerry Gonzalez (48:29):
Well, if I have a house and I'm on and I have
things in the house and I'mpaying a mortgage or I have a
deed for that house, but I'm onmy boat 365 days a year.
I'm not a liveaboard, so that'sa good thing.
That's a great thing, but mostpeople don't last very long
doing that.
It's a frustrating situation.
(48:50):
A two-handed Atlantic crossingis not.
Capn Tinsley (48:58):
it's not insurable well, this guy that just
crossed the pacific by himselfwith, let me tell.
Kerry Gonzalez (49:05):
Let me tell you that this is a really good
transition to um.
You know this point about thefact that you can buy insurance
for things that normal marketsor even London markets would not
cover.
So you can buy insurance fromEdward Williams, which is backed
(49:26):
by Ion Insurance, which isbasically this tiny little suite
in the American Samoas.
And if you just Google IonInsurance or Edward Williams,
you're going to see hundreds ofwebsites that illustrate that
they're not really paying claimsand they're written on a Costa
Rica form that says you'rewaiving all your rights,
(49:48):
including mediation, arbitration, legal action against them.
So you're up the creek withouta paddle, right?
We don't want that, edwardWilliams.
Yeah, and you can.
You can buy Spheric insurance.
You can buy Chinese, russianbacked insurance.
So if you want to do a crossingsingle-handedly, my best advice
to you is you know, don't buyinsurance, because you're you're
(50:12):
going to be a better riskmanager.
I know a lot of people who doit.
Maybe stay in touch withsomeone like me or with some of
the teachers in the industry.
Cruisers University is full ofpeople who do transatlantic
crossings, many of them bythemselves.
They have an incredible network.
The Seven Seas CruisingAssociation has an incredible
(50:34):
network.
I love this block parentcommunity in the boating world,
where we take care of each other, we take care of our own.
It works better than insurance.
So if you're doing atransatlantic crossing by
yourself, you're not going tofind good insurance.
So do the crossing and then getinsurance once you get there.
Capn Tinsley (50:54):
Okay, and I do want to acknowledge a question
over on Instagram um left cedarthat's his username to avoid
hurricane premiums.
How far North do I need to takemy boat?
I don't know if you can.
Oh, hurricane premiums, okay,how?
Kerry Gonzalez (51:08):
far North.
So it depends on the market.
So the cutoff lines are the.
Have an independent agent who'shaving this kind of dialogue
(51:37):
with you and and make sure thatyou know you're telling them.
Here's my plan.
How do I optimize the, the cost.
The best way and you know whatwe usually do is we, if you're,
if your boat is eligible forfive markets, we'll give you all
five markets.
We'll tell you the cutoff line.
It's not a pretty thing, it'san Excel spreadsheet.
(51:57):
We'll tell you the cutoff linefor all five markets and then
you can compare.
Ok, can I be north of MoorheadCity?
No, I don't really like that.
Can I be north of CumberlandIsland?
Or can I be between the FloridaGeorgia line and Cumberland
Island?
Or can I be between the FloridaGeorgia line and Cumberland
Island?
You know it really depends onthe market.
So you really need to see acomparison snapshot of all the
(52:20):
markets.
Capn Tinsley (52:22):
Okay, Wow, Okay.
What common time you coveredthis.
What time restrictions existfor Bahamas or Caribbean
cruising?
How can owners plan ahead?
Well, Bahamas is 90 days.
Kerry Gonzalez (52:36):
I only did for Geico.
So if you have American, modernor Geico, you're looking at 90
days.
If you have Progressive,because you're not a Liveaboard
member you're going to have 30days and that's for the whole
policy year.
That's not 30 days at a time.
If you have state farm, youhave no restriction whatsoever
(52:57):
on the time you spend in theBahamas, but you do have a
restriction on where you go inthe Bahamas.
I have a map I can share ofwhere they're cut, because they
basically cut off the bottom tipof the Bahamas and most people
can live with it because theirpremiums are about half of the
rest of the industry.
Capn Tinsley (53:16):
OK when you say where.
Ok, so the bottom do theyrestrict, like Nassau, because
it's dangerous Rather than beingpigeonholed into a corner.
Kerry Gonzalez (53:25):
I'd rather just give the box as it stands today,
with a date.
This is where it is today,because I don't ever want to be
quoted on.
Ok, here's what's going toapply a month from now.
Capn Tinsley (53:37):
Right, okay, and I do want to show your website
here.
Um this you had pointed outthat this is where, um you can
apply for insurance.
Kerry Gonzalez (53:48):
Yeah, and if you apply for insurance and you're
a better fit for State Farm orGeico or a market that we don't
work with maybe the Caribbean,if you apply there and we see
your application and we knowyou're a better fit for a
Caribbean market, for example,we will handhold your
application and put it on aplatter for the other market and
(54:10):
we'll get your permission.
Hey, can we share this with theBarbados broker?
You'll say yes, we'll get thatpermission in writing and then
we'll share it and you'll be offand running and you can use us
as a sounding board to give you,you know, objective advice on
the storm plan assistance.
I like this right here Stormplan assistance.
Capn Tinsley (54:31):
I like that.
Okay, so we just go here foranybody watching that wants to
check out what you have to offer, because obviously we need some
hands held here because we arenot experts.
But we could just go there andapply and do we get you or do we
just contact you?
Can we just contact youdirectly?
Kerry Gonzalez (54:50):
starts with me because, um, I mean, as you can
probably guess, uh, we, we getreferrals from a lot of agents
that don't write non-standardbusiness, so we get a lot of the
highly unusual or challengingsituations.
Or people have had claims orhave older boats and you know,
(55:11):
if you've had I did have athere's probably someone on this
call that I talked to earlierin the week that has had a claim
and they would tell you look,if you, if you've had a claim
and you just need a soundingboard on how the process works.
I'm not a adjuster, I'm not apublic adjuster, I don't charge
(55:31):
for it, but I'm happy to be asounding board for anyone who's
just really struggling with asituation like that.
Capn Tinsley (55:37):
Okay, all right.
Well, okay, how do storm plansand caretaker arrangements
factor into coverage forabsentee or seasonal owners?
You kind of covered that, ordid you covered everything with
that that you want to say onthis call?
Kerry Gonzalez (55:52):
So let's talk about what an absentee owner is.
Most markets will define anabsentee owner as someone who,
who lives or has an address of ahundred or 150 miles away from
their boat.
So, even if you're on your boatall the time, if your address
says something else, you maystill be an absentee owner.
You know, depending on theinsurance market.
(56:13):
How many miles did you say?
Well, some of them are 100 andsome of them are 150.
Okay, Some of them want to knowthat you're not leaving your
boat for more than 14 days at atime.
Some of them want you tospecifically outline here are
the months or weeks that I won'tbe on my boat.
It depends on your market sohave a conversation with your
(56:34):
agent, so that you know do youdo?
Capn Tinsley (56:37):
I mentioned geico.
They have to update every 14days if you're on the move, so
are there any other companies?
I mean, we won't hold you toevery single one, but is it the
only one, or the other ones too,the other?
Kerry Gonzalez (56:49):
ones only require that you update and, and
I'd say, 80 of the othermarkets require that you update
your named storm location.
Okay, not all the time.
Geico wants you to update yourlocation all year amazing.
Capn Tinsley (57:06):
So I'm com.
I'm leaving in a couple monthsand I'll be gone for three
months, so I'm going to have toevery 14 days.
Kerry Gonzalez (57:13):
Okay, it's like you know, your ADP payroll every
two weeks.
You're going to update yourlocation.
Capn Tinsley (57:20):
Okay, wow, okay, all right.
Well, we've been on here for 57minutes, so what else would you
like to say that I ignorantlydidn't ask?
Kerry Gonzalez (57:31):
Well, anytime I do this, it really is a consumer
service.
Thank you, tinsley.
Would tell you that I did tryto pull some other agents into
this and you know we're a smalland mighty agency.
I am constantly apologizingbecause I can't return enough
phone calls in an efficient timemanner.
(57:52):
So if you're one of thosepeople, again I'm sorry.
We're working on that, we'rebuilding our staff, but we're
really in this business becausewe love it and we're trying to
give back and a lot of times wedo work to give you an objective
opinion in a way where we neverget paid, and that's just our
heart in this.
(58:13):
But one of the ways that, ifyou're interested, you could
thank us for this unpaid advicethat we give is give back to
Hope Fleet.
So Hope Fleet is anorganization that we sponsor and
we provide supplies to.
They use boats to bringsupplies to the Bahamas, the
(58:35):
Caribbean.
Capn Tinsley (58:37):
What is that?
Hopefleetcom Hopefleetorg.
Kerry Gonzalez (58:43):
So if you have an island packet and you are
going to the Bahamas, they havepartners in the Bahamas and they
will provide you with a vettedpartner where you can bring
supplies and you don't have tobuy all the supplies.
They are always trying to getsupplies there, so they'll meet
you at the dock, load you upwith the supplies.
They bring garden buckets andschool supplies and disaster
(59:05):
relief supplies and constructionequipment after disasters and
they also have a childtrafficking reporting system.
So you know a lot oftrafficking happens by boat, so
check out their website.
A lot of people ask me how doyou you know, why do you do this
?
How do you get rewarded?
The reward for the situationswe're talking about, where we
(59:28):
don't get paid, is for people togive back to Hope Fleet.
Capn Tinsley (59:31):
Okay, so, so, just so I understand.
So if I'm going to the Bahamas,I can stop somewhere in Florida
and load up some stuff and takeit, or is that what you're
saying?
Kerry Gonzalez (59:39):
Exactly Because the advantage is they have a
partnership not only with localvetted organizations on the
ground in the Bahamas, wherethey need the supplies, but they
also have a partnership withcustoms.
So they give customs a manifestof everything you have on board
and you never get flagged, youjust clear right through customs
.
No questions asked.
Capn Tinsley (01:00:00):
Yeah, okay, so there's specific locations in
Florida.
Kerry Gonzalez (01:00:06):
If you just tell them what your itinerary is,
they're all over and they'llcome and meet you.
Capn Tinsley (01:00:11):
Nice.
Kerry Gonzalez (01:00:12):
Okay, that's very interesting and it's
actually really a big deal,especially after hurricanes.
So if you start watching, youknow after November 1st, you
know usually there are placesthat really appreciate the help.
Capn Tinsley (01:00:27):
Sure, yeah, okay, yeah, we're doing.
We do that all the time here Alot of the real estate agents,
the brokerages.
If there's a hurricane inLouisiana, we load up stuff and
take it over there, or if it'syou know, hurricane Michael,
over, you know, east of here.
So yeah, that is a greatservice.
I would love to maybe getinvolved with that when I go to
(01:00:47):
the Bahamas.
Kerry Gonzalez (01:00:48):
Yeah, for sure.
Capn Tinsley (01:00:50):
Okay, You're going to hear from me because I'm I
am horrified at my coverageright now and what I don't know.
Kerry Gonzalez (01:00:59):
For the self-service website for Geico
and then I will send you there's.
Honestly, their storm plan isactually a very simple and
comprehensive compared to othersI've seen, so send form and
it's really easy to make theupdates.
Capn Tinsley (01:01:13):
And there is something forming in the
Caribbean.
There is something in theAtlantic, but there's also
something forming right now inthe Caribbean.
Those usually come towards me.
So, yeah, it's the time to doit, right, yeah, okay.
Well, thank you so much, andagain I want to put up that
email of yours.
You're just a wealth ofinformation.
Kerry Gonzalez (01:01:35):
I know we probably just touched on so if
anyone's at the Annapolis BoatShow and you have a lot more
questions, come visit us onSaturday at the Annapolis Boat
Show.
We do a free continentalbreakfast at our booth okay, and
Hayden says I need Carrie'shelp too.
Capn Tinsley (01:01:53):
I will email you.
And a goose says that wasgolden.
All right, thank you Okay.
Thank you so much, and we'll goahead and end it now.
Thank you, and I'll be in touch.
Salty Abandon out.
Tonight on the Salty Podcast, my guest is Keri
Gonzalez from AMG InsuranceInternational and we're tackling
the realities of insuring anolder boat.
We'll break down howunderwriters define older, what
depreciation really means foryour coverage and the key
paperwork you need, frommaintenance records to surveys,
to protect your claim.
(00:20):
Plus, we'll cover hurricanezone restrictions, bahamas time
limits and the market optionsyou may not know exist.
This is Yacht InsuranceExplained.
We'll be talking about otherthings too, but that's just kind
of it in a nutshell.
But before we get underway, ifyou like this sailing content,
please consider liking andsubscribing.
It really helps grow thechannel.
I'm your host, captain Tinsley,of Sailing Vessel Salty
(00:43):
Abandoned and Island Packet 320,and this is the Salty Podcast,
episode 70.
Please help me.
Welcome Carrie.
Hello, hi Tinsley, how are you?
I'm well, how?
Kerry Gonzalez (00:57):
are you?
Capn Tinsley (00:58):
I'm good.
I'm good.
Let me just take a drink realquick.
We were just talking offlineand I was learning.
This is the first time we'vemet, so let's just start with a
few qualifying questions.
How long have you been in theyacht insurance business and
what drew you to it?
Kerry Gonzalez (01:18):
Oh, mercy.
I grew up on the water inCanada, on a small lake.
They didn't allow jet skis, soit was a really quiet, serene
place.
And I'm at the point in mycareer where you know I want to
do something I love, and I lovethe water.
So I've been an insurancebroker for 36 years.
(01:42):
Wow, and yeah, and what calledme to this?
That's a great question.
I really just feel like it'svery difficult for boat owners
to get the truth unhindered froman insurance agent.
They're expected to, you knowboat owner is expected to become
an expert in insurance and tounderstand the fine print
(02:06):
without having this kind ofrelationship.
So often you find that you knowboat owners, especially when
they have a claim, are given an800 number or they're expected
to go back and read their policyand understand how the pieces
all fit together with thepromises that they've made as a
boat owner.
Capn Tinsley (02:23):
That's for sure.
Okay, from your perspective,what's the most common mistake
you see boat owners make withinsurance?
And that kind of leads intowhat we were just talking about
offline.
Kerry Gonzalez (02:36):
Focusing on the premium.
You know I'm going to make alot of enemies on this call when
people say that because we areall cost sensitive, we move to a
boat or we decide we're goingto spend time on a boat with the
expectation that you know we'regoing to save some money.
Right, and I know you and Iwere just talking about my
(03:00):
common thread of our work, whichis insurance is not your friend
, we're not a good neighbor,you're not in good hands.
It is very simply not a warmfuzzy.
It is a two-sided contractwhereby you agree to certain
things and the insurance companysays that if you uphold your
warranties and promises to me,we might pay coverage and we
(03:24):
might depreciate things and wemight attach certain conditions
we might want to investigate,and so it's really important to
read the fine print.
Capn Tinsley (03:34):
Would this be a good place to talk about the
whole GEICO thing?
Kerry Gonzalez (03:39):
Yeah, it wasn't in our plan at the beginning.
But I think GEICO is importantbecause GEICO used to work with
independent agents.
I had a few hundred boats withGEICO at one point in time and
GEICO made a decision to cut theindependent agent out of the
equation.
And now, if you have GEICO, youhave to go to a service center.
So if you have GEICO, youbasically really need to become
(04:03):
an insurance expert.
When they renew your policy,they may self depreciate from
year to year.
They might lower your value, soyou really have to watch that,
because they're going to lowerit without your permission and
you do not have the option ofappealing that whatsoever.
They may also take yournavigation box and narrow it.
(04:27):
So you may have had Bahamaslast year and maybe this year
they're going to take it away.
Bahamas used to be somethingthat they covered on an
unlimited basis if you asked forit.
Now they cover up to 90 days onthe policy year and you have to
tell them where you're goingand how long you're going to be
in the Bahamas.
(04:48):
So you have to give them thedates and it has to be within
that 90 day parameter.
And there are other companieslike that also.
Now, the other important thingto note that we were talking
about earlier with GEICO is youhave to be looking at the fine
print on the.
They send you a piece of paperon the top of your insurance
(05:08):
policy, either electronically orthrough the mail.
That basically says it's yourresponsibility to notify us of
any material changes, includingyour location.
So you have 14 days to updateyour location with GEICO or you
have to go to the self-servicewebsite and update your storm
plan with them.
So if you're a cruiser who'sconstantly on the move, every 14
(05:32):
days, you're going on to theself-service website and you're
updating your location andyou're redoing your storm plan
form.
Capn Tinsley (05:39):
And.
Kerry Gonzalez (05:39):
I wasn't really prepared for this question in
advance, but if anyone wants toreach out to me afterward for me
to explain how that works, justknow that I'm doing it as a
consumer service.
I do not represent Geico, but Ican do their storm plan and the
self-service website that youneed to go to if you can't seem
to find it in your paperwork.
Capn Tinsley (06:01):
Okay, and this also is on the audio podcast
website, so, for those that arelistening, her email is Carrie
at AMG insurance internationalintlcom.
That's Carrie Gonzalez, sothere's the email right there.
But that, yeah, that's veryhelpful and I didn't know that
and so I was breaking the rules.
So, thank you.
(06:21):
So I'm going to tighten up onthat.
So let's talk about the olderboats, and then we can go
wherever you want.
But I've got some questions foryou.
How do underwriters define anolder boat, and when does that
start to affect coverage?
Kerry Gonzalez (06:38):
Yeah, so it's the proverbial, it depends.
So you know, geico's rule is inthe underwriting guidelines.
The written rule is 30 years.
So you're getting close ifyou're, you know if you're
before right they maygrandfather some votes in, but
(07:00):
if you're a new vote going tothem and you're 35 years old,
they're going to reject you.
So it really depends on themarket and it depends on the
value.
So if you, you know, have ahigher valued boat or you've
(07:28):
gone through a total refit andyou've kept your rece of the
boat and they're not justcosmetic and you know routine
maintenance, then you might bein a different market.
But let's go back to theunderwriting definition of an
older boat.
Okay, for the most part, if yourboat is over 150 000 in value
and you're more than 26 yearsold, most markets in the United
States will reject you.
(07:48):
So it's important to know thatthere are options outside of the
independent agent market.
So if, for example, if you arein the United States and you
still want to go to the Bahamasbut you're not going past the
Bahamas, you might be able to goto a direct writer such as a
(08:11):
state farm.
State farm plays with largervalues, older boats they don't
really like to write liveaboardsor people who are never in a
marina, so that's important toknow.
But if you have a home base andyou're just cruising and going
(08:32):
to the Bahamas, they would be agood option to check with.
Capn Tinsley (08:36):
Well, let me, when I, when I, they allowed me to
update my coverage from havingaddendums to my survey and they
even made exceptions, like itwas more than a year, but they
got it approved, and so that'sone way of showing, because I
had gotten a bunch of upgradestwice.
So that is a way, right, toshow proof that you have
(08:59):
upgraded your boat, right.
Kerry Gonzalez (09:01):
Yes, but it's a fine line between an upgrade and
a cosmetic or routinemaintenance issue, because
sometimes you I mean if you'rein real estate you know that if
you're, if you're making acosmetic change in it, it
improves your curb appeal.
It doesn't necessarily improveyour value, it just improves the
(09:22):
way people view it Right.
It just improves the way peopleview it right.
So it depends on the market.
But whether you're looking attrying to place insurance for
the first time or you have aclaim, you should always keep
your records and you shouldalways keep an electronic copy
of your maintenance records.
I walked onto boats wheresomeone has a binder with all
(09:44):
their receipts and they'reorganized and beautiful.
But let me tell you we haveresponded to fires where
everything has burned and all ofa sudden the claim becomes in
question because they can'tproduce the maintenance records
to justify the value or tojustify why the fire happened in
the first place.
Because if you can't producethe receipts, then you may not
(10:06):
be able to prove that your fireextinguishing equipment was
updated, that you had regularoil changes, that you had
inspected a chain plateinspection.
You need to keep the records incloud form on the internet.
Yeah, I do both.
Good, that's really smart.
I've seen a lot of people getburned during a claim because no
(10:30):
pun intended, because theycan't produce records, it's so
important.
And then when you do go to shopyour insurance so say, in five
years Geico drops you becausethey say, okay, we're not going
to write a boat that old anymoreFor a new market.
You may have to produce allthose receipts all over again,
or at least a spreadsheet, andthen they might come back and
say, oh, can we see this receipt?
(10:51):
On this receipt to justify it.
So it's both for applying forinsurance, applying for new
markets, as well as if you havea claim.
That's really the whole pointof this conversation is we don't
buy insurance just to have apiece of paper.
We buy it so that if we have aclaim that's unexpected and
unintended, we can be madefinancially whole.
Capn Tinsley (11:16):
Right.
Okay, so I do have a questionfor people watching either now
or later in the replay, which iswhere most people watch.
For those of you watching live,what's the age of your boat?
Have you ever had an issue withgetting coverage because of it?
So I'd love to hear yourcomments in the comments.
Okay, so what kinds of this iswhat we just covered?
(11:38):
What kinds of maintenancedocumentation make the biggest
impact with underwriters?
What's the biggest thing thatgives you value?
Kerry Gonzalez (11:47):
Yeah, so it's not so much the value that the
underwriters are looking at.
They want to know that yourboat is a fair market value.
So if the survey says it'saverage or below average value,
(12:08):
underwriters don't like to seethat.
So they're going to look veryspecifically at the survey.
You're not going to look at thenumber behind the value as much
as they're going to look atokay, this surveyor he's like
God, you know he's gospel.
If he says your boat is worth125 000, it is.
They're never going to questionthat.
They're never going to questionthe comps.
(12:28):
So it really goes back to thefair market value in your survey
now I've got a bristol, you gotit, and I said what's that?
Capn Tinsley (12:39):
and she says it's the best you can get, or
something like that.
So I didn't't know.
They did that until and so andGeico accepted that.
Kerry Gonzalez (12:47):
You know, yeah, and if you're in this, if you're
in the standard market, mostmarkets really want to see that
you have a NAMS or SAMS relatedsurveyor.
Those are the two surveyassociations.
Otherwise they're going toquestion the validity of the
survey.
And if you're with a Londonmarket I just want to go back
for a second so we don't missthis If you're with a London
(13:08):
market, the London markets mayspecifically ask you to resurvey
your boat every two or threeyears.
Capn Tinsley (13:16):
That was my next question.
Kerry Gonzalez (13:18):
Okay, yeah if your boat's more than 26 years
old.
You need to be prepared forthat and if you go to the survey
, it's really helpful to be atthe survey and discuss with the
surveyor.
Look, here are my records.
Here's last time we did an oilsample.
Here's my chain plateinspections, which are quite
(13:39):
common, because that's notsomething that's covered by
insurance.
So you want to show thesurveyor all your records so
that they're incorporated intoyour survey okay.
Capn Tinsley (13:48):
Yeah, I'm due for uh to get another survey, so, um
uh, cecilia potts, do you knowthat name?
No okay, she's like the go-tofor island package.
She does other boats too, buthayden turned me on to her and
she is wonderful.
Good yeah, so, okay.
So that was my next questionhow often should a HALT survey
(14:12):
be done and why should surveyrecommendations be in the HALT?
Kerry Gonzalez (14:15):
That's a different question, dinsley.
How often should you do asurvey?
You should do a survey as oftenas you need to change your
insurance, okay, but you saidevery two years If you're with
the same market.
But if you're with a marketthat you're worried will drop
you because you had a claim orsome other reason, then you
(14:35):
should have a survey that is,within the last two years,
because surveys are valid withevery market for two years.
And we're talking about outerwater surveys, we're not talking
about in water.
In water surveys are no longerutilized for underwriting
purposes.
Capn Tinsley (14:52):
Okay, okay.
How important are rigginginspection records and receipts
when it comes to proving aboat's condition?
Kerry Gonzalez (14:59):
Yeah, so surveys have to be in your own name
when you buy a boat because yeah, that was in the proof
objectivity.
But if you um, if you have, ifyou're buying a new island
packet and you have riggingreceipts from the former owner,
they'll take the riggingreceipts or a formal rigging
inspection in anyone's name.
It doesn't have to be objective.
(15:19):
They want to see that therigging has been cared for
throughout the lifetime of theof the rigging.
And the other thing is, if you,if you get the rigging has been
cared for throughout thelifetime of the rigging.
And the other thing is, if youget new rigging, like I know,
colin, he'll give you a freeformal.
I don't know if I'm allowed tosay this, but I know he's given
lots of people free formalrigging inspection reports when
(15:40):
he's replaced the rigging.
So most people don't ask for itbecause they don't know that
underwriters want to see it.
So if you're getting newrigging, make sure you ask for
it because usually it's free.
Capn Tinsley (15:51):
Okay, yeah, I'm going to try to arrange when I,
in October, I'm going to go fromOrange Beach to the Keys and
then to the Bahamas and I'd liketo stop in there and either
because it's a 1998 boat, youknow, and that is about the time
they were changing thatstainless steel and I don't know
(16:12):
I've been told that, yes or no,that it can be inspected, but
you know, I don't know thatthat's true with the island
packet inside I'm talking aboutinside the boat.
Yeah, but it's time for me todo something, so I might try to
arrange something with themwhile I'm down there.
Um, what's, uh, what's thedifference between agreed value
(16:35):
and actual cash value policy,and which is better for older
yachts?
Is that a good question?
You smile.
That's a great question, okaygood.
Kerry Gonzalez (16:43):
If you come to me and you say I want to save
money, I want to buy an actualcash value policy, I I'm not
going to sell you insurancebecause I feel like insurance,
even without actual cash value,is based on trickery, deceit and
you know just language that thecommon person doesn't
(17:06):
understand.
It's even hard for agents tounderstand it.
Why would anyone buy actualcash value?
That's going to look at theambiguous opinion of the
lifespan of an engine or awatermaker and they're going to
form an opinion.
Okay, your watermaker shouldhave a lifespan of five years.
So we're going to depreciate itand a lot of times depreciation
(17:29):
happens more with soft goods,but I've seen policies that
depreciate everything on olderboats.
I would never buy an actualcash value policy because it's
very deceptive and verymisleading.
Agreed value is the true conceptof insurance.
It's the concept ofindemnification.
It makes you financially whole.
(17:50):
Whatever you put in it is whatyou get back out of it.
Nothing more, nothing less.
So if you bought it for $75,000, you get $75,000 back, right?
If you have a total claim, youknow total loss right.
Capn Tinsley (18:06):
If you have a total claim, you know total loss
.
Does that answer your question?
Well, what if you?
What if you?
You buy it for for 85 orsomething and then put 30 000 in
it, not including labor?
Right and then you, I did theaddendum, so is that?
Is that what you're talkingabout?
Kerry Gonzalez (18:21):
so some insurance companies will allow
you to update the value Right.
You can still do it on anagreed value basis.
Some will say, okay, thosethings are general maintenance
for an older boat.
It really depends on theunderwriter.
Capn Tinsley (18:36):
Okay, all right.
Well, I added, like you know,solar and lithium, all this good
stuff you know did yeah okay.
Kerry Gonzalez (18:45):
So there's another important thing.
It's really important, if youadd lithium, to disclose that to
your agent or your underwriterin writing and get an
acknowledgement back that theyknow there's lithium on your
boat.
Now if you're with geico,you're fine because the policy
is silent.
But if you're with a companylike markel or there's a list of
(19:05):
others, and you have lithiumand you haven't disclosed it,
you've voided your coverage,because all lithium is excluded,
doesn't matter whether it'slithium ion or lithium iron
phosphate.
If you have lithium and youdidn't disclose it to one of the
markets that excludes it, youvoided your coverage.
So it's really important tohave that you know regular
dialogue.
Capn Tinsley (19:24):
What if it's in the survey or the addendum to
the survey?
Kerry Gonzalez (19:30):
I would take an extra step of making sure you
point it out to the agent oryour representative in writing,
and don't just point it out, butmake sure you get an
acknowledgement back thatthere's lithium and it's covered
okay, wow, you're definitelyright.
They're not your friends youdon't you likely don't have
(19:50):
coverage for lithium.
Capn Tinsley (19:52):
It's not the intent of their policy to cover
lithium okay, all right, I knowthat the, the, the technology,
the technology has gotten muchsafer.
They don't view it that way.
Kerry Gonzalez (20:07):
So we're not talking about my opinion or any
particular underwriter's opinion.
We're talking about a scenariowhere the narrative has not been
controlled.
It might have been a lithiumbike or a lithium toy of some
sort, or a lithium battery thatwas purchased off Amazon, or a
(20:30):
used Chinese battery your marketbatteries but that gives the
whole lithium scenario a bad rap.
And so there's certain marketswho've just taken the posture
that we're not going to assesswhether it's good, bad,
indifferent whether it's OEM oraftermarket, and you're a
do-it-yourselfer.
(20:51):
We're just going to say look,all lithium is excluded.
So if you have lithium, makesure you get confirmation back
from your agent that it iscovered on your policy.
Capn Tinsley (21:03):
I might hire you.
Kerry Gonzalez (21:08):
I don't represent GEICO because GEICO
doesn't.
Capn Tinsley (21:09):
No, I mean switch to you, because I would like to
speak to a person like you.
Kerry Gonzalez (21:15):
So anyone can call us, we can answer questions
.
But I think you've understoodfrom our initial dialogue that
if independent, we're anindependent agent.
If an independent agent marketis not the best scenario for you
, we're going to be the firstones to tell you look, we'll do
you a favor, we'll educate youon the markets that can do this,
(21:36):
but it's not us.
And there are some markets thatyou might have leverage with.
If you have property, if youhave an auto policy, if you have
life insurance with them thatyou might be able to get an
exception on your boat insurance.
Okay, where they might notwrite your boat, they might not
(21:59):
insure your boat on a standalonebasis, like, for example let me
give you a few examples yeah,on a standalone basis, like, for
example, let me give you a fewexamples yeah, I've got a lot of
insurance with farmers.
If you have any insurance withHanover, they will likely accept
your boat, but they do not wantto see boats in Florida.
If you have insurance withChubb, they will likely accept
your boat.
What about farmers?
(22:19):
And y'all come back to that one.
So Chubb will do Florida ifit's not a scenario with an
absentee owner, like they don'tlike snowbirds, but they do
select situations in Florida forboats and you do have to have a
(22:40):
survey in certain situations,but it really just depends.
Now, farmers, the boat side offarmers is foremost insurance
and we do have foremost.
But you can't be a live aboard.
So if you're and they're thesame as it's the same way with
progress.
That is the company that I hadbefore okay through that
(23:01):
brokerage yeah, so we, so we, wehave foremost, we, we.
We represent foremost andprogressive, but one of the
common mistakes people make isgoing, like I said, with the
cheapest, but in the fine printof foremost and progressive.
It is not their intent toensure liveaboards.
So that's really important toknow.
(23:22):
And they also have stoppedriding really old boats.
So it just depends on yourscenario and where you are.
Capn Tinsley (23:29):
What did they stop riding Back to the homeowners.
What did you say?
They stopped riding?
On what boats?
Kerry Gonzalez (23:38):
Really old boats .
So it depends on where yourboat is.
If your boat's in Florida, theydon't want to necessarily write
boats in Florida that are, youknow, over 10 years old.
In some scenarios it depends onthe value.
What about next to?
Capn Tinsley (23:53):
Florida.
Kerry Gonzalez (23:56):
Very like clean line, where you know where it
depends on their, their, theirmarket, you know.
Capn Tinsley (24:04):
Okay.
Kerry Gonzalez (24:04):
Here.
Capn Tinsley (24:05):
Hayden's asking a question here.
Sb Island Spirit.
What's great insurance forCaribbean cruisers?
Six months per year, that'sthem, you know.
Okay.
Kerry Gonzalez (24:14):
Let me finish this one answer, though, because
the truth is, if you havehomeowners and auto, you can
also go to Pure Insurance.
They make exceptions.
Mount Holly will makeexceptions.
If you have a higher valuedboat and you have property with
AIG, they may make an exception.
Ok, caribbean.
(24:35):
So we have a partner in theCaribbean.
That is not a true partner,it's just someone that, look, if
I own an island packet and Iwas headed to the Caribbean, I
would insure with this group andI send a lot of my customers
there.
So they're not on this callbecause their team leads are on
vacation this week.
But I'm happy to direct anyoneto them.
(24:56):
I don't get paid for it.
So this is extremely objectiveadvice.
But there is a broker out ofBarbados called Arthur Gallagher
, and I can give you thecontacts for their entire team.
They have about eight marketsthat will write Caribbean
coverage on sailboats inparticular.
One thing to know, inparticular, is they they do not
(25:20):
like the litigious nature of theUnited States of America, so
they don't like that.
We all sue each other.
So if you're going to theCaribbean and you're bringing
your boat back to the US thisyear or within the policy year.
Their markets do not want toinsure you.
Capn Tinsley (25:36):
Well, what about in the case of Hayden, where he
leaves it there If he?
Kerry Gonzalez (25:39):
leaves it there, then Hayden should reach out to
me again and I'll hook him upwith this team.
And the one thing to know isthat they do not like to write
uninsured voters because theyattach it to that whole stigma
of you know lawsuits againsteach other.
But it's important to know thatif you're going to the
Caribbean, a lot of people don'tinsure in the Caribbean.
(26:00):
You better ask for it and youbetter push for uninsured
boaters to be included in yourinsurance.
It doesn't really affect thepolicy much, but if you just
take whatever they give you,you're not going to get
uninsured.
Capn Tinsley (26:13):
So when you say uninsured boaters, you're
talking about the people aroundyou on other boats.
Is that what you're saying?
Okay, yeah, they don't cover ifsomebody hits your boat or
something.
Right?
Kerry Gonzalez (26:24):
Okay, right, or if you're?
If you're, if you leave yourboat there, your boat breaks
loose and they can't determine.
You know, if there's fouruninsured boats and there's your
boat and yours is the only onewith insurance, guess who's
paying?
Yeah, so, um, it's reallyimportant to have uninsured
boaters and if you know that,going into it and you ask for it
(26:44):
, it really doesn't affect yourpremium.
And this particular broker wasnamed one of the most ethical
brokers in the world many yearsin a row, which is not something
you often see attached to aninsurance agent's name.
Capn Tinsley (26:58):
I'm not kidding you.
I know I believe you.
Kerry Gonzalez (27:00):
I've referred hundreds of boaters to them and,
like I said I've never hundredsof boaters to them and, like I
said, I've never taken a pennyfrom them, even for a referral.
But then you know it comesaround because when they have
boats that are coming back tothe U S, they send them back to
me and then, and then we have toknow that, look, if you're
coming back from the Caribbean,you might need a new survey.
(27:21):
You might need to have yourfire extinguishing equipment
inspected and certified.
Capn Tinsley (27:27):
Okay, here's a question for you.
How do coverage options differbetween non-hurricane prone and
hurricane prone waters?
Kerry Gonzalez (27:37):
I like it when you smile when I ask a question.
I think I've hit a goodquestion when you do that.
Yeah, let me start with theworst part of the answer.
Okay, you and I were talkingearlier about the worst case
scenario, which is a specificmarket called GIA Global
(27:58):
Insurance Agency.
It's actually an insurancecompany that uses the Buford
scale as the deductibledetermination, so as the wind
speed increases, your deductibleincreases until you know when
you're at a category four orfive you're basically paying a
(28:19):
hundred percent deductible.
Capn Tinsley (28:19):
I've never heard of that.
Kerry Gonzalez (28:20):
That is crazy, yeah.
Well, people are prettydesperate for insurance right
now, so they're buying a lot ofcrazy things, but that's still
not the worst option, becauseyou can buy Chinese or Russian
based uh, russian backedinsurance and it's important to
really know, you know, is AMGpaying my claim?
No, the agent is never payingthe claim.
You better know what.
What name is going to be on thecheck?
(28:41):
That's paying your claim?
Yeah, you don't have to talk tothem again.
Capn Tinsley (28:43):
Right.
Kerry Gonzalez (28:44):
But back to the question about hurricane
coverage.
The hurricane coverage and Icould spend hours on this, the
hurricane coverage alwaysrelates back to your storm plan.
So let's talk about you.
So you're with GEICO, so readthe fine print.
So GEICO says that your stormcoverage only applies if you
(29:07):
update your storm plan for everynamed storm or within 14 days
of changing locations.
I've never done that.
Capn Tinsley (29:14):
I didn't even know .
You can read the fine print.
Kerry Gonzalez (29:17):
Yes, but even if that's not in the fine print.
So Geico requires you updateyour location regardless of
whether it's a storm or not.
Other companies just say look,you have to update your location
for a named storm.
72 hours before a named stormcomes in and you're in the cone
of uncertainty.
The entire market in insuranceshuts down and they say real
(29:39):
estate closing stop no morechanges, no new business.
If you haul your boat out andput it on the hard because it
was truly a better scenario, youjust voided your coverage
because your actual formal stormplan with the insurance company
said you were going to be atXYZ Marina and you're not where
you said you were going to be.
Capn Tinsley (29:59):
Okay, well, I do remember doing a storm plan and
I said I was going to try tohaul out.
Kerry Gonzalez (30:05):
So someone is asking a question about Markel.
This is Hayden.
Okay, okay, so, yeah.
So Markel is famous forrequiring a haul-out for every
named storm.
The reason I'm saying it andenunciating every word is
because that means every.
That means tropical storm,bertha.
(30:28):
That means a Category 1.
Capn Tinsley (30:33):
That means every name storm you just have to plan
on losing your boat.
Well, I'm shocked.
I got paid last time I do.
Kerry Gonzalez (30:45):
I do sell markel policies that have that, but
normally they're for scenarioswhere someone is actually
hauling out for the entireseason.
So for Hayden in particular,hayden, one of your best options
, depending on where you're atwill likely be a direct to
market.
It won't be through me, but weshould have a separate online,
(31:07):
offline conversation about whereyou should be going and how you
should answer the questions.
Um, you know, answeringinsurance questions is like
going before a judge and thejudge says, okay, uh, you know,
tinsley, were you speeding?
And you say, well, it's notreally yes, it's not really no.
Here's why I was driving reallyfast it's so situational, it's
(31:27):
very situational.
Capn Tinsley (31:28):
Well, in his case, he does haul out.
When he leaves the boat, hehauls it out and prepares it and
chains it down, does all kindsof stuff, and is that the best
scenario?
The?
Kerry Gonzalez (31:38):
best scenario is to treat your contract as if it
is like black and whiterequirement.
So if you're not putting ninefenders out, don't put on your
storm plan that you're puttingnine fenders out, okay.
I had an Island Packet owner onthe phone today.
(31:59):
I don't know if they're on thisor not, so I'm not going to
name them.
Capn Tinsley (32:04):
They might see it eventually.
Yeah, if they are.
Kerry Gonzalez (32:06):
I'll apologize in advance, but we had to change
their storm plan.
Their storm plan had them in adifferent location.
They know the drill, they'vebeen with me a really long time
and they're actually in a betterscenario.
They went north instead ofsouth, which they don't normally
do.
So what we did was we pulled upthe map and they truly do not
(32:27):
want to be in a marina, and Iget that.
I, you know I rarely have claimswhere someone is, you know,
anchored out or in the mangrovestied out, and they really are
good risk managers of their ownyou know destiny.
But I have.
I do have claims in marinas anda lot of times it's things you
(32:48):
can't control.
The cleat breaks loose, someoneelse's boat breaks loose, you
can't control the projectiles,you know all kinds of things
happen in marinas and I'm notsaying one is right or one is
wrong.
What I am saying is that what'sright and wrong is whatever's
in your insurance contract.
So what we did was we pulled upthe map and you know their plan
(33:08):
was to be up river a certainnumber of miles, and I warned
them if you say you're 30 milesup north, I have to give a
radius with a longitude andlatitude.
And so what I do is I do it alittle bit more creatively for
someone who's more of afull-time cruiser and we give a
range or a plan A, b and C.
(33:29):
We build in caveat wording thatstill allows you to make a
judgment call, because I don'tknow if you're watching the
weather for next week, but youknow, if you have an insurance
company that says you must beoutside the cone of uncertainty,
you're really going to struggleto get outside that cone in a
sailboat.
You cannot run in a sailboat, soit's better just to tell the
(33:51):
truth and say look, I'm notrunning, here's my plan A, b and
C.
But then again, if you're witha state farm, they're not going
to scrutinize your storm planthe same way as other markets.
Just as an example, maybe weneed to talk about other markets
, but if you're making anychanges, you have to make the
changes more than 72 hours inadvance of the storm or the cone
(34:12):
of uncertainty.
So we pulled up the map, but itchanges.
It does change and I get thisoften.
It does change.
So that's why we pull up themap.
We do our plan a, b and c, webuild in caveat wording, we give
the underwriters an actualsnapshot of the map.
That map that says we're goingto be in this box and we will
(34:36):
either be in this marina oranchored up river in this box.
Capn Tinsley (34:43):
Okay, so this is his name is Goose.
His nickname is Goose Holyguacamole.
These policies have more holesin them than Swiss cheese.
Kerry Gonzalez (34:53):
Right, yeah, I told you like insurance boat
insurance we're not your friend,you're not a good neighbor, not
in good hands.
It's a contract that allows youto get into marinas and if you
are buying insurance for thetrue purpose of being
financially whole, you betterread every word in your policy
or have an agent that's going toexplain it to you.
Transatlantic policy.
(35:15):
So we wrote one this morning.
It was a sailboat that wascrossing the ocean.
We had three operators thatwere going to do the crossing.
The wife did not want to gowith these three guys.
They're all engineers.
They're probably going torebuild the boat on the way
across the ocean.
(35:38):
One of the three had a priortransatlantic crossing in his
experience resume.
The other two did not.
So we went back and forth, backand forth for three weeks,
articulating their resume indifferent ways and slicing and
dicing it.
How many miles offshore hadthey been?
How many days had they beenoffshore, what's the furthest
(36:03):
nautical mile point that eachone of them had been and how
many times have they been there?
Because if you're doing atransatlantic crossing,
underwriters want to see thatyou have blue water experience,
and blue water, from anunderwriting perspective, is not
defined as going down the ICW,jumping to the Bahamas and then
(36:26):
jumping to the Caribbean, thatis not blue water.
But if you're doing the saltydog and you're jumping from
somewhere in the Chesapeake overto Bermuda, going down to
Antigua, that trek to Bermudaand down to the Caribbean is
blue water, yeah, what aboutgoing across the Gulf?
Capn Tinsley (36:46):
Not blue water, really.
Kerry Gonzalez (36:48):
No, hmm.
Well, geico and most of the USmarkets are not filed for
Caribbean coverage.
So you're looking at, you know,a foreign market like Lloyd's
of London Syndicate, a Europeanmarket, a Bermuda market, you
know, or a Caribbean market.
You're not looking at a USmarket anymore.
Capn Tinsley (37:10):
And that's if you're going across the Atlantic
.
Yeah, and if you're goingacross the Atlantic, each
operator must be approved ontheir own merit and you have to
have a minimum of two.
Kerry Gonzalez (37:13):
And that's if you're going across the atlantic
, yeah, and if you're goingacross the atlantic, each
operator must be approved ontheir own merit and you have to
have a minimum of two to threeoperators because they want to
say okay, right, look, iftinsley and hayden and I are all
going across the ocean sorry topick on you, but if we're
crossing the ocean together and,uh, you start coughing and I
(37:33):
have a heart attack and thenHayden's the only one left,
there's no one to take thesecond watch.
Capn Tinsley (37:40):
Are they going to do a physical of us?
Kerry Gonzalez (37:42):
No, but they do want to see that they're.
So if you're doing a crossing,it's based on a named operator
policy and you have to have twoto three named operators at a
minimum.
They want to see three who?
Two to three named operators ata minimum.
They want to see three who areapproved as named operators.
Capn Tinsley (37:59):
What about there's a sailor who just, with no
experience, just went fromOregon to Hawaii and he became
really famous, is sailing withPhoenix.
I didn't even think to ask himabout his insurance.
Kerry Gonzalez (38:13):
Yes, that's a little different because there
are markets that will do thosewaters, so it depends on the
water.
So then the map of the world.
I mean, if we took the map ofthe world, you know, each, each
insurance market would take theworld map.
I used to have one on my wall.
It's gone, but they would drawa box and and draw like 12 boxes
(38:38):
around the world of where eachnavigation box could go.
Ok, travelers will draw boxesthat don't match with Hanover.
Hanover will have boxes thatdon't match with Chubb.
Chubb will have boxes thatdon't match with, you know,
guardian, one of the one of theCaribbean markets, guardian, one
of the one of the Caribbeanmarkets.
So it's really best to have aconversation with your agent
about your monthly itinerary forthe next 12 months.
(39:00):
There is no such thing as tripcoverage.
So you want to have a.
I have an itinerary form youcan use as kind of a, you know,
to develop your plan and you'regoing to have a conversation
about.
You know where are we going for12 months and if that's going
to change over time, you mightchange markets.
Capn Tinsley (39:19):
Okay, so the next two questions on my list are
what are the pros and cons ofbundling yacht insurance and
other policies through companieslike AIG, hanover or Chubb, and
what unique opportunities doLondon markets offer yacht
owners compared to US markets?
Kerry Gonzalez (39:34):
what unique opportunities do London markets
offer yacht owners compared toUS markets?
Capn Tinsley (39:41):
Okay, so London is surplus lines non-admitted,
non-standard insurance.
Kerry Gonzalez (39:43):
Okay, what does that mean?
It's a skeleton policy.
You're getting less coveragefor more money and higher
deductibles, more conditions,more warranties, more
limitations.
London bad no, london is notalways bad.
If you have an older boat,london might be necessary, but
London is especially somethingthat you really need to read
(40:03):
your policy on.
So if I'm going to writeinsurance with Lloyd's of London
, it's like the US market butit's syndicates, and if I write
insurance there, I have to provethat I went to markets in the
United States and got rejectionsfor your insurance, just to be
allowed, as an agent, to go toLondon.
Capn Tinsley (40:22):
Okay, all right, hayden, a local Caribbean policy
.
Won't let you sail to.
Kerry Gonzalez (40:27):
USA.
Capn Tinsley (40:28):
How do you cover that when you sail for USA?
Kerry Gonzalez (40:31):
No, you have to switch back and forth.
So a Caribbean market is not afit for you because they always
look at your 12 month itinerary.
So if you, your 12 monthitinerary includes the U?
S and the Caribbean, we'regoing to Lloyd's of London.
Okay, and Lloyd's of London islike over 200 syndicates and
there there are just a handfulthat write boat insurance.
Capn Tinsley (40:57):
That's a lot.
That's a lot.
I am definitely going to lookinto hiring you, or, if you even
can you know for my boat?
Kerry Gonzalez (41:10):
Well, I'd be happy to give you advice.
Like I said, you know, incertain scenarios I'm not the
best option, but I can give youan objective opinion on who is
Right, Because I'm definitelygoing to have to be more
involved with my insurancepolicy.
Capn Tinsley (41:23):
Obviously I'm not doing that.
I'm doing everything wrong andhoping for the best.
Kerry Gonzalez (41:30):
Let me give you a hint that if you're buying
from a company that you get adifferent person on the phone
every time and it's an 800number.
You better be an expert on yourinsurance.
Capn Tinsley (41:39):
Yeah, that's my situation.
How do named operator policieswork, and when might permissive
use be a better?
Kerry Gonzalez (41:47):
You talked about named operators, if you're in
the United States water andyou're with a United States
insurance company, you're notalways, but likely on a
permissive use form.
Geico is a permissive use form.
Geico, progressive, chubbTravelers they're all permissive
use forms.
Capn Tinsley (42:06):
And what does?
Kerry Gonzalez (42:06):
that mean?
It means, Chinsley, if you tellme I can operate your boat and
you give me permission and justlike giving me permission to
drive your beautiful car, I'mcovered.
But if we're crossing the oceanor we're going to a London
market or non-standard insurance, you're going to have a named
operator policy that'll be basedon my resume and my specific
(42:27):
merits about whether or not I'meven capable.
Capn Tinsley (42:30):
Okay, so I had.
I had someone move my boat whenI broke my ankle and the
captain said add me to yourpolicy.
I contacted him and they saidyou're already covered for that.
Kerry Gonzalez (42:58):
All of a sudden it falls under the
Longshoremen's Act, which is afederal statute that says you're
responsible for their illnesses, injuries and diseases.
It doesn't necessarily meanthat your insurance is going to
pay for that financialresponsibility, because if you
don't add them it's not covered.
So there are some companiesthat will include coverage for
incidental crew one or two on anoccasional basis.
But you don't know that untilyou reach out to your agent or
(43:22):
underwriter and they tell youit's covered and you want to
tell them okay, I'm hiring thisperson for this many days,
here's where they're going andthey are paid crew.
Capn Tinsley (43:30):
So that would be just like in the case of Geico
going into the portal andemailing them, and then they
answer and say you're good,that's my proof right there, as
long as you get confirmationback, then you are good.
Kerry Gonzalez (43:45):
But make sure that you're not just emailing
them and, assuming that you'regood, you can never assume that.
Capn Tinsley (43:52):
I think that's the message for today.
Yeah, the tip of the day is yougot to go through that policy
and know it, and it's all blackand white, it's literal, it's
very literal.
Kerry Gonzalez (44:05):
But back to that storm question.
Just because this is perfecttiming to give everyone this
reminder, make sure you readyour policy and read the fine
print and then go back and readthe applications and all the
supporting documents youprovided to see if you make need
to make any changes beforeyou're in the cone of
(44:25):
uncertainty.
Capn Tinsley (44:26):
Because once you're in that 72 hour, you mean
like a plan, like yourhurricane plan or storm plan?
Kerry Gonzalez (44:34):
Yeah, exactly so .
For example, we were talkingabout lithium.
If you don't have confirmationback from your underwriter that
you had lithium and they werecovering it, it doesn't matter
if it's a named storm issue ornot.
Make sure you've disclosedeverything.
You've read everything, becauseit doesn't matter if it's
connected to the fact there's anamed storm coming.
(44:55):
If you have not disclosedeverything, you can void your
coverage.
Capn Tinsley (45:00):
And again, if it's in a survey that they approved,
that doesn't count.
I mean, you really should emailit to them in the portal and
get a confirmation back.
Kerry Gonzalez (45:10):
Yeah, because they're taking everything into
consideration, not just thesurvey.
Sometimes the applications willeven ask the question of
whether or not you have lithiumyeah, and I can't remember.
Okay, there are a few marketsthat even ask if you had solar.
So just make sure that if youthink that you've added risk to
your boat or your location oryour captain crew situation or
(45:34):
your equipment, make sure youtell the underwriter or the
agent and get approval back thatit's covered.
Capn Tinsley (45:41):
Is that for everything?
I mean?
What if it's like you get a newautopilot?
Kerry Gonzalez (45:46):
Yeah, well, that one you should definitely tell
them, because that's usuallyworth the discount.
Capn Tinsley (45:51):
Well, but I already had one, but a new one
would give you a discount, well,if it depends on if geico
included that in your discountlist when you first applied.
So just you know if you, I'mgonna have to start from scratch
.
okay, yeah, because I'mdefinitely in the uh, this area
(46:11):
right here is, in my opinion, ismore risky than the West Coast
of Florida, you know, in theNorthern Gulf Coast.
Yeah, okay, and you can addwhatever.
But I am going to ask you aboutsome liveaboard.
What's the definition?
What's the liveaboarddefinition, insurance terms and
how can it impact coverage wetalked to?
(46:32):
They don't really like that.
They don't really likeliveaboards.
Kerry Gonzalez (46:35):
That's a great question, tinsley, because
people will say that they're aliveaboard and then they use my
address or their long lostcousin's address, or their
mother or their cousin, whatever.
That's not an acceptable answer.
You cannot use someone'saddress where you do not live
(46:55):
and say that you're not a.
That's not an acceptable answer.
You cannot use someone'saddress where you do not live
and say that you're not aliveaboard, that you're not a
liveaboard, do not want toensure live aborts, so this is a
(47:21):
very important question.
Um, if you have a green CoveSprings address and you do not
have a mortgage deed or leasesomewhere with space where you
have things and you go sometimes, then you are a liveaboard.
Capn Tinsley (47:38):
If you okay.
If you you, what about okay?
So if you give, if I'm aliveaboard, but I have an
address where I get mail, isthat what you're saying?
Kerry Gonzalez (47:49):
Is that?
So?
Let me give you an example.
I've got a guest room and if Itell you okay, tinsley, I'm
going to give you a lease andyou're going to pay me a dollar
every year for my guest room andyou're going to keep some
clothes here and once a yearyou're going to come here and
you're going to use my guestroom.
That's very close to Mac.
Capn Tinsley (48:20):
You are not a liveaboard because you have
signed a lease that says thatyou have actual space in my home
and there is legal tenderexchanged with that dollar.
So you can't even have a housethat you use as a home base and
you're living aboard, you know,10 months a year.
You're still not a liveaboard.
Kerry Gonzalez (48:29):
Well, if I have a house and I'm on and I have
things in the house and I'mpaying a mortgage or I have a
deed for that house, but I'm onmy boat 365 days a year.
I'm not a liveaboard, so that'sa good thing.
That's a great thing, but mostpeople don't last very long
doing that.
It's a frustrating situation.
(48:50):
A two-handed Atlantic crossingis not.
Capn Tinsley (48:58):
it's not insurable well, this guy that just
crossed the pacific by himselfwith, let me tell.
Kerry Gonzalez (49:05):
Let me tell you that this is a really good
transition to um.
You know this point about thefact that you can buy insurance
for things that normal marketsor even London markets would not
cover.
So you can buy insurance fromEdward Williams, which is backed
(49:26):
by Ion Insurance, which isbasically this tiny little suite
in the American Samoas.
And if you just Google IonInsurance or Edward Williams,
you're going to see hundreds ofwebsites that illustrate that
they're not really paying claimsand they're written on a Costa
Rica form that says you'rewaiving all your rights,
(49:48):
including mediation, arbitration, legal action against them.
So you're up the creek withouta paddle, right?
We don't want that, edwardWilliams.
Yeah, and you can.
You can buy Spheric insurance.
You can buy Chinese, russianbacked insurance.
So if you want to do a crossingsingle-handedly, my best advice
to you is you know, don't buyinsurance, because you're you're
(50:12):
going to be a better riskmanager.
I know a lot of people who doit.
Maybe stay in touch withsomeone like me or with some of
the teachers in the industry.
Cruisers University is full ofpeople who do transatlantic
crossings, many of them bythemselves.
They have an incredible network.
The Seven Seas CruisingAssociation has an incredible
(50:34):
network.
I love this block parentcommunity in the boating world,
where we take care of each other, we take care of our own.
It works better than insurance.
So if you're doing atransatlantic crossing by
yourself, you're not going tofind good insurance.
So do the crossing and then getinsurance once you get there.
Capn Tinsley (50:54):
Okay, and I do want to acknowledge a question
over on Instagram um left cedarthat's his username to avoid
hurricane premiums.
How far North do I need to takemy boat?
I don't know if you can.
Oh, hurricane premiums, okay,how?
Kerry Gonzalez (51:08):
far North.
So it depends on the market.
So the cutoff lines are the.
Have an independent agent who'shaving this kind of dialogue
(51:37):
with you and and make sure thatyou know you're telling them.
Here's my plan.
How do I optimize the, the cost.
The best way and you know whatwe usually do is we, if you're,
if your boat is eligible forfive markets, we'll give you all
five markets.
We'll tell you the cutoff line.
It's not a pretty thing, it'san Excel spreadsheet.
(51:57):
We'll tell you the cutoff linefor all five markets and then
you can compare.
Ok, can I be north of MoorheadCity?
No, I don't really like that.
Can I be north of CumberlandIsland?
Or can I be between the FloridaGeorgia line and Cumberland
Island?
Or can I be between the FloridaGeorgia line and Cumberland
Island?
You know it really depends onthe market.
So you really need to see acomparison snapshot of all the
(52:20):
markets.
Capn Tinsley (52:22):
Okay, Wow, Okay.
What common time you coveredthis.
What time restrictions existfor Bahamas or Caribbean
cruising?
How can owners plan ahead?
Well, Bahamas is 90 days.
Kerry Gonzalez (52:36):
I only did for Geico.
So if you have American, modernor Geico, you're looking at 90
days.
If you have Progressive,because you're not a Liveaboard
member you're going to have 30days and that's for the whole
policy year.
That's not 30 days at a time.
If you have state farm, youhave no restriction whatsoever
(52:57):
on the time you spend in theBahamas, but you do have a
restriction on where you go inthe Bahamas.
I have a map I can share ofwhere they're cut, because they
basically cut off the bottom tipof the Bahamas and most people
can live with it because theirpremiums are about half of the
rest of the industry.
Capn Tinsley (53:16):
OK when you say where.
Ok, so the bottom do theyrestrict, like Nassau, because
it's dangerous Rather than beingpigeonholed into a corner.
Kerry Gonzalez (53:25):
I'd rather just give the box as it stands today,
with a date.
This is where it is today,because I don't ever want to be
quoted on.
Ok, here's what's going toapply a month from now.
Capn Tinsley (53:37):
Right, okay, and I do want to show your website
here.
Um this you had pointed outthat this is where, um you can
apply for insurance.
Kerry Gonzalez (53:48):
Yeah, and if you apply for insurance and you're
a better fit for State Farm orGeico or a market that we don't
work with maybe the Caribbean,if you apply there and we see
your application and we knowyou're a better fit for a
Caribbean market, for example,we will handhold your
application and put it on aplatter for the other market and
(54:10):
we'll get your permission.
Hey, can we share this with theBarbados broker?
You'll say yes, we'll get thatpermission in writing and then
we'll share it and you'll be offand running and you can use us
as a sounding board to give you,you know, objective advice on
the storm plan assistance.
I like this right here Stormplan assistance.
Capn Tinsley (54:31):
I like that.
Okay, so we just go here foranybody watching that wants to
check out what you have to offer, because obviously we need some
hands held here because we arenot experts.
But we could just go there andapply and do we get you or do we
just contact you?
Can we just contact youdirectly?
Kerry Gonzalez (54:50):
starts with me because, um, I mean, as you can
probably guess, uh, we, we getreferrals from a lot of agents
that don't write non-standardbusiness, so we get a lot of the
highly unusual or challengingsituations.
Or people have had claims orhave older boats and you know,
(55:11):
if you've had I did have athere's probably someone on this
call that I talked to earlierin the week that has had a claim
and they would tell you look,if you, if you've had a claim
and you just need a soundingboard on how the process works.
I'm not a adjuster, I'm not apublic adjuster, I don't charge
(55:31):
for it, but I'm happy to be asounding board for anyone who's
just really struggling with asituation like that.
Capn Tinsley (55:37):
Okay, all right.
Well, okay, how do storm plansand caretaker arrangements
factor into coverage forabsentee or seasonal owners?
You kind of covered that, ordid you covered everything with
that that you want to say onthis call?
Kerry Gonzalez (55:52):
So let's talk about what an absentee owner is.
Most markets will define anabsentee owner as someone who,
who lives or has an address of ahundred or 150 miles away from
their boat.
So, even if you're on your boatall the time, if your address
says something else, you maystill be an absentee owner.
You know, depending on theinsurance market.
(56:13):
How many miles did you say?
Well, some of them are 100 andsome of them are 150.
Okay, Some of them want to knowthat you're not leaving your
boat for more than 14 days at atime.
Some of them want you tospecifically outline here are
the months or weeks that I won'tbe on my boat.
It depends on your market sohave a conversation with your
(56:34):
agent, so that you know do youdo?
Capn Tinsley (56:37):
I mentioned geico.
They have to update every 14days if you're on the move, so
are there any other companies?
I mean, we won't hold you toevery single one, but is it the
only one, or the other ones too,the other?
Kerry Gonzalez (56:49):
ones only require that you update and, and
I'd say, 80 of the othermarkets require that you update
your named storm location.
Okay, not all the time.
Geico wants you to update yourlocation all year amazing.
Capn Tinsley (57:06):
So I'm com.
I'm leaving in a couple monthsand I'll be gone for three
months, so I'm going to have toevery 14 days.
Kerry Gonzalez (57:13):
Okay, it's like you know, your ADP payroll every
two weeks.
You're going to update yourlocation.
Capn Tinsley (57:20):
Okay, wow, okay, all right.
Well, we've been on here for 57minutes, so what else would you
like to say that I ignorantlydidn't ask?
Kerry Gonzalez (57:31):
Well, anytime I do this, it really is a consumer
service.
Thank you, tinsley.
Would tell you that I did tryto pull some other agents into
this and you know we're a smalland mighty agency.
I am constantly apologizingbecause I can't return enough
phone calls in an efficient timemanner.
(57:52):
So if you're one of thosepeople, again I'm sorry.
We're working on that, we'rebuilding our staff, but we're
really in this business becausewe love it and we're trying to
give back and a lot of times wedo work to give you an objective
opinion in a way where we neverget paid, and that's just our
heart in this.
(58:13):
But one of the ways that, ifyou're interested, you could
thank us for this unpaid advicethat we give is give back to
Hope Fleet.
So Hope Fleet is anorganization that we sponsor and
we provide supplies to.
They use boats to bringsupplies to the Bahamas, the
(58:35):
Caribbean.
Capn Tinsley (58:37):
What is that?
Hopefleetcom Hopefleetorg.
Kerry Gonzalez (58:43):
So if you have an island packet and you are
going to the Bahamas, they havepartners in the Bahamas and they
will provide you with a vettedpartner where you can bring
supplies and you don't have tobuy all the supplies.
They are always trying to getsupplies there, so they'll meet
you at the dock, load you upwith the supplies.
They bring garden buckets andschool supplies and disaster
(59:05):
relief supplies and constructionequipment after disasters and
they also have a childtrafficking reporting system.
So you know a lot oftrafficking happens by boat, so
check out their website.
A lot of people ask me how doyou you know, why do you do this
?
How do you get rewarded?
The reward for the situationswe're talking about, where we
(59:28):
don't get paid, is for people togive back to Hope Fleet.
Capn Tinsley (59:31):
Okay, so, so, just so I understand.
So if I'm going to the Bahamas,I can stop somewhere in Florida
and load up some stuff and takeit, or is that what you're
saying?
Kerry Gonzalez (59:39):
Exactly Because the advantage is they have a
partnership not only with localvetted organizations on the
ground in the Bahamas, wherethey need the supplies, but they
also have a partnership withcustoms.
So they give customs a manifestof everything you have on board
and you never get flagged, youjust clear right through customs
.
No questions asked.
Capn Tinsley (01:00:00):
Yeah, okay, so there's specific locations in
Florida.
Kerry Gonzalez (01:00:06):
If you just tell them what your itinerary is,
they're all over and they'llcome and meet you.
Capn Tinsley (01:00:11):
Nice.
Kerry Gonzalez (01:00:12):
Okay, that's very interesting and it's
actually really a big deal,especially after hurricanes.
So if you start watching, youknow after November 1st, you
know usually there are placesthat really appreciate the help.
Capn Tinsley (01:00:27):
Sure, yeah, okay, yeah, we're doing.
We do that all the time here Alot of the real estate agents,
the brokerages.
If there's a hurricane inLouisiana, we load up stuff and
take it over there, or if it'syou know, hurricane Michael,
over, you know, east of here.
So yeah, that is a greatservice.
I would love to maybe getinvolved with that when I go to
(01:00:47):
the Bahamas.
Kerry Gonzalez (01:00:48):
Yeah, for sure.
Capn Tinsley (01:00:50):
Okay, You're going to hear from me because I'm I
am horrified at my coverageright now and what I don't know.
Kerry Gonzalez (01:00:59):
For the self-service website for Geico
and then I will send you there's.
Honestly, their storm plan isactually a very simple and
comprehensive compared to othersI've seen, so send form and
it's really easy to make theupdates.
Capn Tinsley (01:01:13):
And there is something forming in the
Caribbean.
There is something in theAtlantic, but there's also
something forming right now inthe Caribbean.
Those usually come towards me.
So, yeah, it's the time to doit, right, yeah, okay.
Well, thank you so much, andagain I want to put up that
email of yours.
You're just a wealth ofinformation.
Kerry Gonzalez (01:01:35):
I know we probably just touched on so if
anyone's at the Annapolis BoatShow and you have a lot more
questions, come visit us onSaturday at the Annapolis Boat
Show.
We do a free continentalbreakfast at our booth okay, and
Hayden says I need Carrie'shelp too.
Capn Tinsley (01:01:53):
I will email you.
And a goose says that wasgolden.
All right, thank you Okay.
Thank you so much, and we'll goahead and end it now.
Thank you, and I'll be in touch.
Salty Abandon out.
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