Another insurance question

[Alaska Pirate]

My yacht broker here in the PNW recommended Scott or Nicole at Anacortes Marine Insurance Inc. for an insurance quote. Nicole provided me with a quote from Red Shield Insurance Co. out of Portland, OR. Do any of you have experience with Red Shield?
Additionally, this brokerage sells home, auto, business and life insurance. In other words, they are not strictly marine insurance agents. I have read here and elsewhere it is best to deal with an agent who specializes in marine insurance. What do you folks think?


Yeah, I know, that's two questions.

 

[Nancy n Larry]

Peter Ricks at Novamar is who I would recommend. 800-823-2798. Seattle, WA. Very knowledgeable and a capt/boater as well.

 

[Comodave]

Peter Ricks at Novamar is who I would recommend. 800-823-2798. Seattle, WA. Very knowledgeable and a capt/boater as well.

Absolutely +1.

 

[tiltrider1]

Peter at Novamar is my agent. However, I am insured with Red Schield. I used to be with Markel but Red Schield made a better offer and were more flexible with their requirements for bringing the boat home from LA. Because of this I have stuck with Red Schield.

I have never made a claim so I have no idea how any of the insurance companies are when it comes time to file a claim.

 

[Portage_Bay]

I am insured by Red Shield through Anacortes Marine Insurance. I had never heard of them when I went looking for insurance for my 82 Californian 42 LRC which due to the age of the boat I had a hard time finding insurance. Before inking the deal to Red Shield I did a fair bit of research on the company. They to my knowledge are a solid responsible insurance underwriter. Their market is strictly the PNW which may help keep rates under control following hurricane Ian's destruction.

Scott and Nicole have given good responsive service. Absolutely no complaints there.

My yacht broker here in the PNW recommended Scott or Nicole at Anacortes Marine Insurance Inc. for an insurance quote. Nicole provided me with a quote from Red Shield Insurance Co. out of Portland, OR. Do any of you have experience with Red Shield?
Additionally, this brokerage sells home, auto, business and life insurance. In other words, they are not strictly marine insurance agents. I have read here and elsewhere it is best to deal with an agent who specializes in marine insurance. What do you folks think?


Yeah, I know, that's two questions.

 

[IRENE]

I received thorough and generous consultation from Scott during our most recent (May 2022) insurance shopping. Nicole was very responsive with quoting options. Both were easy to reach. I recommend his agency and I will certainly reach out to them in the future.

 

[seasailor]

Insurance

We just purchased a 1992 Ocean Alexander 456 Classico. The quote from Boat U.S. seemed high so based on a recommendation from this forum, I contacted Peter Ricks at Noamar, Seattle.. I was happy with his approach and his depth of knowledge, and the quote was $400 less. I would recommend him as well.

 

[garbler]

I’ve had around forty years surveying and working with almost every major marine underwriter on all three coasts and overseas so bottom line I have lots of opinions. But we all know opinions are just that, they are not facts just interpretations based on experience hopefully. Here is my opinion

First off is a true marine insurance axiom ; You don’t know anything about your company or coverages until you file a claim. It’s all theoretic until you are damaged.

Buying a policy based solely on price is a fools errand. Those companies that are trying to get into the market figuring there is money to be had often buy into the business doing so with few or any real marine experts onboard. Not all but you’d be surprised. This means they offer policies at substantially reduced rates to generate sales. All insurance companies understand all too well that the average person does not shop insurance like gas, cars or air fair and therefore stay with companies even as rates escalate back up to the real market pricing. They also know that they are essentially invisible to the public like the ‘Cloud ‘ and that the insured tends to stay with an agent they trust and have known for years.

You will constantly hear about an insurance company’s Credit Ratings and you’re supposed to be assured they are rock solid when you hear ratings like ‘ AAA ‘ ‘ AA++ ‘ you get the idea. Well these ratings are very confusing since many smaller companies are a subsidiary of larger companies some of which may have six or more smaller companies under the umbrella. So which rating applies to which is I believe deceptive. The credit rating business is confusing since rating agencies like Moody’s, Standard & Poors etc. all have different methods and rating designations. I suggest trusting your agent on this if you really have a good one. A good agent is working for you and when you find one trust them.

Finally it’s my opinion that smaller regional companies have a better grasp of their market and the people and risks they are writing. The big boys in Hartford or New York can’t possibly fully comprehend your local waters and typical usage like the local company. The big firms can coinsure and spread the risk a bit but they always rely on local underwriters to assess their market. So bottom line is worry less about a company’s name and more about your agent who is your advocate in this business.

Rick

 

[Comodave]

We just purchased a 1992 Ocean Alexander 456 Classico. The quote from Boat U.S. seemed high so based on a recommendation from this forum, I contacted Peter Ricks at Noamar, Seattle.. I was happy with his approach and his depth of knowledge, and the quote was $400 less. I would recommend him as well.

Welcome aboard and congrats on your new boat. +1 on Peter. We have our insurance through him.

 

[SaltyDogg]

I am insured with Red Shield, have never had a claim but I'm happy with them and the person I went through, Mary LaFleur with ATL Insurance in Anacortes, WA