Blog Novamar Insurance

The Great Loop is a 6,000 mile journey through waterways along much of the Eastern USA and a bit of Canada, primarily on protected inland waters. It attracts around 150 boats each year, with some completing the entire loop over a couple of years while others choose to do portions of the trip. The journey requires careful planning, navigation, and preparation, and there is valuable information available online about boat choices, routes, limitations, weather concerns, and interesting towns to visit. Novamar Insurance has seen an increase in clients interested in insuring their boats for the Great Loop. To get insurance coverage, boat owners need to provide a detailed boating resume, a rough 12-month itinerary, caretaking plans, and meet certain risk criteria set by insurers. Insurance claims for boats on the Loop are often related to striking submerged objects or accidents while unattended. Overall, a flexible attitude, preparedness, and proper maintenance are crucial for a successful and memorable Great Loop experience. For yacht insurance inquiries, interested individuals can contact Keith Sargis, Novamar's Mid-Atlantic regional manager.

We would like to remind you that you are required to have a boating license while you are navigating your boat in Mexican waters. Every boat owner, operator, and captain at the helm of a vessel must have a valid boating license that states you are qualified to operate the vessel.

As boatowners, boat/yacht insurance provides piece of mind. We all know Murphy is there waiting to wreak havoc on us boaters. To minimize the chance of a problem aboard your boat, planning and prevention is the key to having a pleasant experience with family and friends. Whether for an afternoon cruise or on a passage at sea for several days.

With an enjoyable 2023 boating season already well underway in southern latitudes and now launching into full swing for the rest of us, this means the start of hurricane season for 2023 is also just around the corner beginning on June 1st.

Yacht owners generally agree that speaking with knowledgeable, helpful & experienced marine agents benefits their understanding of what is covered and what is not covered in a yacht insurance policy when deciding where to spend their premium dollars. In today’s market, the handful of yacht insurance companies still insuring yachts are focused on profitability more than ever. If these marine insurance programs do not make a profit, they too will close their doors to the marine industry like the 20 plus insurers that have preceded them in the last several years.