mast insurance F33 / F35

Archives
1

Posted by frednahme (frednahme@…>)

Hello everybody!

I´m new to this group and also new to carbon fiber unstayed cat ketch
rigs…not new to offshore sailing though.
I am considering to buy a UK built 1985 F35, found a lot of valuable
information in this group already.

One of the issues I have is the question if the boat can be insured
including possible mast damage…as a renewal of the masts would cost
almost as much as the whole boat.
I have a very good insurance agent (sailor himself) who is confident
he will find an insurance that does it.
However, the insurance would only pay if the masts came down due to
unusual circumstances, not due to normal wear and tear or if the
lifespan is exceeded.
Now I wonder: what can be considered the normal lifespan of a 1980s
Freedom carbon fiber mast? What is normal wear and tear?
And: if the masts have been pre-damaged at some point in their
history, and then come down in a lilght breeze after I bought the
boat…can that be found out in a survey afterwards?
Or even in a survey before buying the boat? With mirrors to check
from the inside? Or even with X-rays?

Will be thankful for any kind of information you can come up with!

Cheers,

Fred

2

Posted by Alan Kusinitz (akusinitz@…>)


I had no trouble getting (and keeping for
5 years so far) insurance for my F-33 in the US. The policy is of a maximum
dollar amount and the masts are included. Recently an F-44 lost its mast due to
lightning and their insurance company paid for the new one. I also know of an
F-39 that lost both its masts due to hurricane damage while in a boat yard (if
I remember correctly) and insurance covered replacement of both of those.
Alan F-33 Hull #51 1982





From: FreedomOwnersGroup@yahoogroups.com [mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of frednahme
Sent: Tuesday, November 27, 2007
12:36 PM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] mast
insurance F33 / F35




Hello everybody!

I´m new to this group and also new to carbon fiber unstayed cat ketch
rigs…not new to offshore sailing though.
I am considering to buy a UK
built 1985 F35, found a lot of valuable
information in this group already.

One of the issues I have is the question if the boat can be insured
including possible mast damage…as a renewal of the masts would cost
almost as much as the whole boat.
I have a very good insurance agent (sailor himself) who is confident
he will find an insurance that does it.
However, the insurance would only pay if the masts came down due to
unusual circumstances, not due to normal wear and tear or if the
lifespan is exceeded.
Now I wonder: what can be considered the normal lifespan of a 1980s
Freedom carbon fiber mast? What is normal wear and tear?
And: if the masts have been pre-damaged at some point in their
history, and then come down in a lilght breeze after I bought the
boat…can that be found out in a survey afterwards?
Or even in a survey before buying the boat? With mirrors to check
from the inside? Or even with X-rays?

Will be thankful for any kind of information you can come up with!

Cheers,

Fred

\

3

Posted by michel.capel (michel.capel@…>)

There are several Freedoms here in the Netherlands and as far as I
know, none of the owners has ever had trouble insuring the masts. Of
course, you have to make the insurers aware of the fact that you
have carbon masts and what they cost. I told them this when I
renewed my insurance a few months ago, and they didn’t lift an
eyebrow when I told them the cost of the masts. They stated that
only in the case of total loss of both masts there could be a
problem because this would near the value of the boat, but one mast
lost would be no problem.

michel



— In FreedomOwnersGroup@yahoogroups.com, “frednahme”
<frednahme@…> wrote:

Hello everybody!

I´m new to this group and also new to carbon fiber unstayed cat
ketch
rigs…not new to offshore sailing though.
I am considering to buy a UK built 1985 F35, found a lot of
valuable
information in this group already.

One of the issues I have is the question if the boat can be
insured
including possible mast damage…as a renewal of the masts would
cost
almost as much as the whole boat.
I have a very good insurance agent (sailor himself) who is
confident
he will find an insurance that does it.
However, the insurance would only pay if the masts came down due
to
unusual circumstances, not due to normal wear and tear or if the
lifespan is exceeded.
Now I wonder: what can be considered the normal lifespan of a
1980s
Freedom carbon fiber mast? What is normal wear and tear?
And: if the masts have been pre-damaged at some point in their
history, and then come down in a lilght breeze after I bought the
boat…can that be found out in a survey afterwards?
Or even in a survey before buying the boat? With mirrors to check
from the inside? Or even with X-rays?

Will be thankful for any kind of information you can come up with!

Cheers,

Fred

4

Posted by Geoffrey Schultz (geoff.freedom@geoffschultz.org>)

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the loss
of material other than aluminum shall be construed to be betterment,
and for each full year of age of such spar a deduction of five percent
of the cost to repair or replace the spar shall be made, however, in no
case shall more than one half of the cost to repair or replace the spar
be deducted.

– Geoff

5

Posted by frednahme (frednahme@…>)

That seems to be the problem: that the value of the masts is almost
as high as that of the boat.
I have asked my present boat insurance for an offer to insure an F35.
They were interested at first, until they heard the price of the
boat…then they said they would insure only the boat without the
masts.
The insurance lady seemed to be quite competent, made some remarks
about the different construction techniques for carbon fiber masts in
history…although I believe that if somebody knew how to make them
properly back in the 80s it was TPI.
She said that from an insurance point of view, carbon fiber masts
have not produced for long enough to really have a statistically
valid idea about their lifespan.


— In FreedomOwnersGroup@yahoogroups.com, “michel.capel”
<michel.capel@…> wrote:

There are several Freedoms here in the Netherlands and as far as I
know, none of the owners has ever had trouble insuring the masts.
Of
course, you have to make the insurers aware of the fact that you
have carbon masts and what they cost. I told them this when I
renewed my insurance a few months ago, and they didn’t lift an
eyebrow when I told them the cost of the masts. They stated that
only in the case of total loss of both masts there could be a
problem because this would near the value of the boat, but one mast
lost would be no problem.

michel

— In FreedomOwnersGroup@yahoogroups.com, “frednahme”
<frednahme@> wrote:

Hello everybody!

I´m new to this group and also new to carbon fiber unstayed cat
ketch
rigs…not new to offshore sailing though.
I am considering to buy a UK built 1985 F35, found a lot of
valuable
information in this group already.

One of the issues I have is the question if the boat can be
insured
including possible mast damage…as a renewal of the masts would
cost
almost as much as the whole boat.
I have a very good insurance agent (sailor himself) who is
confident
he will find an insurance that does it.
However, the insurance would only pay if the masts came down due
to
unusual circumstances, not due to normal wear and tear or if the
lifespan is exceeded.
Now I wonder: what can be considered the normal lifespan of a
1980s
Freedom carbon fiber mast? What is normal wear and tear?
And: if the masts have been pre-damaged at some point in their
history, and then come down in a lilght breeze after I bought the
boat…can that be found out in a survey afterwards?
Or even in a survey before buying the boat? With mirrors to check
from the inside? Or even with X-rays?

Will be thankful for any kind of information you can come up with!

Cheers,

Fred

6

Posted by Al Lorman (ajl@…>)


Geoff:

I
have my insurance through IMIS as well. They’re a broker, not an
insurance company. Do you recall which company actually wrote your
policy?

Al
Lorman
F30
Ab Initio



From:
FreedomOwnersGroup@yahoogroups.com [mailto:FreedomOwnersGroup@yahoogroups.com] On
Behalf Of Geoffrey Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

\




I have a 40/40 insured with IMIS, which is a
well known insurer who
handles off-shore/international. This year their policy changed such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the loss
of material other than aluminum shall be construed to be betterment,
and for each full year of age of such spar a deduction of five percent
of the cost to repair or replace the spar shall be made, however, in no
case shall more than one half of the cost to repair or replace the spar
be deducted.

– Geoff


\

7

Posted by Geoffrey Schultz (geoff.freedom@geoffschultz.org>)

The insurance is underwritten by Markel [American] Insurance Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com, “Al Lorman” <ajl@…>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made, however,
in no
case shall more than one half of the cost to repair or replace the
spar
be deducted.

– Geoff

8

Posted by Al Lorman (ajl@…>)


Darn,
they’re my insurer, too.

Al



From:
FreedomOwnersGroup@yahoogroups.com [mailto:FreedomOwnersGroup@yahoogroups.com] On
Behalf Of Geoffrey Schultz
Sent: Thursday, November 29, 2007 8:18 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

\




The insurance is underwritten by Markel
[American] Insurance Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com,
“Al Lorman” <ajl@…>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com]
On Behalf Of Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made, however,
in no
case shall more than one half of the cost to repair or replace the
spar
be deducted.

– Geoff



\

9

Posted by lance_ryley (lance_ryley@…>)

My insurance is through Boat US, which I know isn’t everyone’s
favorites. With both the F40 CK and the F45, they’ve told me that the
replacement cost (to me) for my carbon fiber mast is the deductible on
the policy. They’ve never tried to set a different policy based on
depreciation of just the mast over time.

That seems an odd way to do it anyway. Do they apply the same type of
depreciation to an aluminum mast and its shrouds, turnbuckles, and
chainplates? It’d seem like those would wear out a lot quicker than a
carbon fiber and epoxy laminate. The whole idea of staying your mast to
keep it upright seems… somehow… archaic. :wink:

Lance
“Glory”

10

Posted by Rick Higgens (higgens@…>)

I have an old friend (we played in a rock band back in the days of
bell-bottoms and long hair) who is a long time agent for IMIS. It’s
nice to have a trustworthy friend in the business and when I was 1st
shopping boat insurance he told me that, even worse than auto
insurance, all marine policies are not equal and he reviewed a couple
of contenders for me and explained some of the verbiage they speak.
Anyway I asked him about this issue and Markel and here’s his response…

“Markel has (I believe) at least 4 different programs for sailboats.
The Helmsman policy that we are suggesting for you does not have the
carbon fiber spar wording that you mention below. There are other
Markel programs which could be used for any number of reasons –
cruising, racing, unusual boat, old boat, etc… Or there could have
been a special endorsement applied to a Helmsman policy if there were
something about the boat or mast that Markel had concerns about.
Typically, carbon fiber spars are very problematic as they are usually
associated with and designed for racing boats. When you shave every
pound off that you can, you sacrifice strength. Even if the spar is
hit by lightning, special procedures and equipment must be used to
check it’s integrity. Everything about them is very expensive.
Again, your boat is totally different than that.”

So Al, check you policy type, you may be ok. And by the way if anyone
is looking for a insurance reference, I’d be happy to send my friend’s
contact email. He saved me some money when I 1st signed with him last
year and offered me another option this year that was $300 less and
comparable.

Rick
F30 Nauti-Belle


— In FreedomOwnersGroup@yahoogroups.com, “Al Lorman” <ajl@…> wrote:

Darn, they’re my insurer, too.

Al

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of Geoffrey
Schultz
Sent: Thursday, November 29, 2007 8:18 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

The insurance is underwritten by Markel [American] Insurance Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com , “Al Lorman” <ajl@>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com ] On Behalf Of Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made, however,
in no
case shall more than one half of the cost to repair or replace the
spar
be deducted.

– Geoff

11

Posted by Jay Glen (svfantasy@…>)
Rick,I’m interested, please provide your friends email address. I have a 1981 Freedom 40 CK.Thanks,On Dec 3, 2007 3:39 PM, Rick Higgens <
higgens@…> wrote:




I have an old friend (we played in a rock band back in the days of
bell-bottoms and long hair) who is a long time agent for IMIS. It’s
nice to have a trustworthy friend in the business and when I was 1st
shopping boat insurance he told me that, even worse than auto
insurance, all marine policies are not equal and he reviewed a couple
of contenders for me and explained some of the verbiage they speak.
Anyway I asked him about this issue and Markel and here’s his response…

“Markel has (I believe) at least 4 different programs for sailboats.
The Helmsman policy that we are suggesting for you does not have the
carbon fiber spar wording that you mention below. There are other
Markel programs which could be used for any number of reasons –
cruising, racing, unusual boat, old boat, etc… Or there could have
been a special endorsement applied to a Helmsman policy if there were
something about the boat or mast that Markel had concerns about.
Typically, carbon fiber spars are very problematic as they are usually
associated with and designed for racing boats. When you shave every
pound off that you can, you sacrifice strength. Even if the spar is
hit by lightning, special procedures and equipment must be used to
check it’s integrity. Everything about them is very expensive.
Again, your boat is totally different than that.”

So Al, check you policy type, you may be ok. And by the way if anyone
is looking for a insurance reference, I’d be happy to send my friend’s
contact email. He saved me some money when I 1st signed with him last
year and offered me another option this year that was $300 less and
comparable.

Rick
F30 Nauti-Belle

— In FreedomOwnersGroup@yahoogroups.com, “Al Lorman” <ajl@…> wrote:

Darn, they’re my insurer, too.

Al

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of Geoffrey
Schultz
Sent: Thursday, November 29, 2007 8:18 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

The insurance is underwritten by Markel [American] Insurance Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com , “Al Lorman” <ajl@>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com ] On Behalf Of Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made, however,
in no
case shall more than one half of the cost to repair or replace the
spar
be deducted.

– Geoff





– Jay Glen ki6jtks/v FantasyFreedom 40 Cat-KetchSan Francisco Bay Area

12

Posted by Al Lorman (ajl@…>)


I
do have a Helmsman policy, Rick, so perhaps I should read it carefully.

Many
thanks.

Al



From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of Rick Higgens
Sent: Monday, December 03, 2007 6:40 PM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

\




I have an old friend (we played in a rock band
back in the days of
bell-bottoms and long hair) who is a long time agent for IMIS. It’s
nice to have a trustworthy friend in the business and when I was 1st
shopping boat insurance he told me that, even worse than auto
insurance, all marine policies are not equal and he reviewed a couple
of contenders for me and explained some of the verbiage they speak.
Anyway I asked him about this issue and Markel and here’s his response…

“Markel has (I believe) at least 4 different programs for sailboats.
The Helmsman policy that we are suggesting for you does not have the
carbon fiber spar wording that you mention below. There are other
Markel programs which could be used for any number of reasons –
cruising, racing, unusual boat, old boat, etc… Or there could have
been a special endorsement applied to a Helmsman policy if there were
something about the boat or mast that Markel had concerns about.
Typically, carbon fiber spars are very problematic as they are usually
associated with and designed for racing boats. When you shave every
pound off that you can, you sacrifice strength. Even if the spar is
hit by lightning, special procedures and equipment must be used to
check it’s integrity. Everything about them is very expensive.
Again, your boat is totally different than that.”

So Al, check you policy type, you may be ok. And by the way if anyone
is looking for a insurance reference, I’d be happy to send my friend’s
contact email. He saved me some money when I 1st signed with him last
year and offered me another option this year that was $300 less and
comparable.

Rick
F30 Nauti-Belle

— In FreedomOwnersGroup@yahoogroups.com,
“Al Lorman” <ajl@…> wrote:

Darn, they’re my insurer, too.

Al

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com]
On Behalf Of Geoffrey
Schultz
Sent: Thursday, November 29, 2007 8:18 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

The insurance is underwritten by Markel [American] Insurance Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com , “Al Lorman”
<ajl@>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com ] On Behalf Of
Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to 50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made, however,
in no
case shall more than one half of the cost to repair or replace the
spar
be deducted.

– Geoff



\

13

Posted by Geoffrey Schultz (geoff.freedom@geoffschultz.org>)

Please note that the section that I quoted was for a JackLine policy
offered by IMIS. This is for off-shore, international cruising. The
Helmsman policy that you’re discussing is a different policy than I
have.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com, “Rick Higgens”
<higgens@…> wrote:

I have an old friend (we played in a rock band back in the days of
bell-bottoms and long hair) who is a long time agent for IMIS. It’s
nice to have a trustworthy friend in the business and when I was 1st
shopping boat insurance he told me that, even worse than auto
insurance, all marine policies are not equal and he reviewed a
couple
of contenders for me and explained some of the verbiage they speak.
Anyway I asked him about this issue and Markel and here’s his
response…

“Markel has (I believe) at least 4 different programs for
sailboats.
The Helmsman policy that we are suggesting for you does not have the
carbon fiber spar wording that you mention below. There are other
Markel programs which could be used for any number of reasons –
cruising, racing, unusual boat, old boat, etc… Or there could have
been a special endorsement applied to a Helmsman policy if there
were
something about the boat or mast that Markel had concerns about.
Typically, carbon fiber spars are very problematic as they are
usually
associated with and designed for racing boats. When you shave every
pound off that you can, you sacrifice strength. Even if the spar is
hit by lightning, special procedures and equipment must be used to
check it’s integrity. Everything about them is very expensive.
Again, your boat is totally different than that.”

So Al, check you policy type, you may be ok. And by the way if
anyone
is looking for a insurance reference, I’d be happy to send my
friend’s
contact email. He saved me some money when I 1st signed with him
last
year and offered me another option this year that was $300 less and
comparable.

Rick
F30 Nauti-Belle

— In FreedomOwnersGroup@yahoogroups.com, “Al Lorman” <ajl@> wrote:

Darn, they’re my insurer, too.

Al

From: FreedomOwnersGroup@yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com] On Behalf Of Geoffrey
Schultz
Sent: Thursday, November 29, 2007 8:18 AM
To: FreedomOwnersGroup@yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

The insurance is underwritten by Markel [American] Insurance
Company.

– Geoff

— In FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com , “Al Lorman”
<ajl@>
wrote:

Geoff:

I have my insurance through IMIS as well. They’re a broker, not
an
insurance
company. Do you recall which company actually wrote your policy?

Al Lorman

F30 Ab Initio

From: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
[mailto:FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com ] On Behalf Of
Geoffrey
Schultz
Sent: Wednesday, November 28, 2007 9:16 AM
To: FreedomOwnersGroup@yahoogroups.com
mailto:FreedomOwnersGroup%40yahoogroups.com
Subject: [FreedomOwnersGroup] Re: mast insurance F33 / F35

I have a 40/40 insured with IMIS, which is a well known insurer
who
handles off-shore/international. This year their policy changed
such
that non-aluminum masts are depreciated at 5% per year up to
50%.
Here’s the new wording:

Repair or replacement of a spar constructed over a year before
the
loss
of material other than aluminum shall be construed to be
betterment,
and for each full year of age of such spar a deduction of five
percent
of the cost to repair or replace the spar shall be made,
however,
in no
case shall more than one half of the cost to repair or replace
the
spar
be deducted.

– Geoff