newcoast yacht insurance

Insurance Services

Newcoast insurance services.

Boat and Yacht Insurance can be tricky. Newcoast Insurance and Captains Market have the expertise and experience to design your perfect protection plan.

Newcoast insurance specialists can provide you with smart, affordable options to make sure you and your boat are protected. The Newcoast team specializes in the unique needs of yacht owners by working with captains, yacht managers, and owners to identify and find solutions. Their industry experience and access to world leading partners ensures optimal client protection.

Ready to start the quote on the boat or yacht of your dreams?

Frequently asked questions, what factors make my insurance more (or less) expensive.

There are several factors that make up the premiums for insurance for boats or yachts. The age of the vessel, limits of coverage, owner's experience, usage type, and navigational territory are major factors in determining the premium. Our team will work with insurance carriers to find the best options and coverage for your policy.

Do you represent multiple insurance companies?

Yes. We work with A-Rated insurers to find coverage solutions that meet and exceed your needs for your boat, yacht, or RV.

What is included in a “Yacht” policy?

We customize each yacht policy based on the requirements of our clients and the vessel. We offer guidance on Hull, Liability, Pollution, Crew Medical, Builder's Risk, and Charter, to name a few.

Should I pay for insurance when my boat is winterized?

Yes. Most insurers provide credits for typical usage in cold weather regions, so it's best to keep the policy active throughout the year.

What is “Agreed Value” vs “Actual Cash Value” policy?

An Agreed Value policy will provide payment of the agreed value listed on the policy in the event of a total loss. Actual Cash Value factors in depreciation based on the age of the vessel.

Is boat insurance required by law?

It depends on the state, but even if boat insurance isn't required by law, protecting your boat is always a smart decision.

Will my homeowner's insurance cover my boat?

Homeowner policies may offer coverage for your boat, but they typically have size restrictions, limitations on horsepower, and limits on damage coverage. Standalone boat insurance policies generally offer superior coverage and can be even more cost-effective than adding to your homeowner's policy.

Can I talk to an insurance agent for specific questions?

Yes, please contact us at (866) 639-2627 (Option 2) for more information.

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Get to the Adventure Faster

• By Yachting Staff
• November 11, 2022

Owning a boat or yacht is exciting and fun. You get to cruise in sunny, warm places. You can hang out with family and friends in new destinations. And you can enjoy everything from wakeboarding to sightseeing in destinations that other people can’t get to from land.

The process of buying a boat or yacht can be complex. Finding the right boat, determining availability, pricing out insurance, and ensuring that you have financing in place can be a lot. But with the right team and support behind you, your excitement for your new boat builds and builds as you get closer to your next adventure. 

Newcoast—a 20-year-old company with a team that has decades of experience—specializes in financing and insurance for yachts, boats, and RVs. Newcoast’s mission is to help boat and yacht buyers get to the adventure faster. Its team is a one-stop shop of expertise in marine financing, insurance and more, all set up to reduce wait times and help clients overcome all the hassles. 

“We have a two-minute pre-qualification process for boat financing, with loan approval as fast as 24 hours,” Newcoast president Mike Hoffman says. “We have a free loan calculator that anyone can use on our website. And we work with a large network of top insurance carriers, so we make it easy for clients to find smart, affordable options for coverage tailored to their boat and their boating lifestyle.”

Newcoast’s expertise in yachts, boats and RVs is invaluable to anyone trying to close a deal quickly. It doesn’t matter whether you’re an individual, a couple or a corporation; Newcoast eliminates the need to go to multiple companies to get multiple quotes for financing and insurance.

“This is especially important given the current state of the boating marketplace,” Hoffman says. “Coming out of the pandemic, there are a lot fewer boats immediately available than there used to be—new or used. Having your financing and insurance paperwork sorted out quickly gives you an advantage as a buyer. You’re ready to close the deal at the best rate while other buyers are still checking various companies for rates.”

With financing and insurance, Newcoast’s access to multiple carriers is key. Boaters are not cookie-cutter people. All kinds of boats can be used in all kinds of destinations by all kinds of people. There’s a big difference between, say, a 30-foot center-console that a father and son will use for local fishing on the Chesapeake Bay and a 130-foot motoryacht with a crew that a multigenerational family will use for cruising down the East Coast to the Bahamas and Caribbean.

There are also factors with boats that only marine-industry experts will even realize are important to consider when choosing financing and insurance. Maybe you’re looking to buy an eight-year-old yacht, but it has newer engines that are only four years old, and the previous owner did a helm refit with new electronics that are only one year old. 

All those different warranties—from all different manufacturers—can matter to insurance companies, in particular. And insurance brokers that a client has worked with for years might not even think to ask about them. Even the best brokers for homes, businesses, and other assets might not be used to the marine space, making it hard for clients to get the best loan terms and insurance policies on boats and yachts. 

“Newcoast’s team specializes in boats, yachts and RVs,” Hoffman says. “This level of expertise makes a big difference for our clients in terms of financing and insurance. Not only can we help with getting the best rates, but we can also make sure the client is getting the best terms for their particular vessel and cruising plans.”

Maybe those plans are for a jaunt from Seattle out to the San Juan Islands in a motoryacht, or for an attempt at the Newport Bermuda Race in a performance sailboat, or for a cruise around America’s Great Loop in a trawler yacht.

“Whatever adventure you have in mind, Newcoast can get you to that adventure faster,” Hoffman says. “It’s who we are and what we do. Our customers are more than just a number, and helping them achieve their ownership dreams is what we aim to do every day.”

To learn more about Newcoast’s services, visit newcoast.com or call 866-639-2627.

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Get to the Adventure Faster

• By Boating Staff
• November 11, 2022

Owning a boat or yacht is exciting and fun. You get to cruise in sunny, warm places. You can hang out with family and friends in new destinations. And you can enjoy everything from wakeboarding to sightseeing in destinations that other people can’t get to from land.

The process of buying a boat or yacht can be complex. Finding the right boat, determining availability, pricing out insurance, and ensuring that you have financing in place can be a lot. But with the right team and support behind you, your excitement for your new boat builds and builds as you get closer to your next adventure. 

Newcoast—a 20-year-old company with a team that has decades of experience—specializes in financing and insurance for yachts, boats, and RVs. Newcoast’s mission is to help boat and yacht buyers get to the adventure faster. Its team is a one-stop shop of expertise in marine financing, insurance and more, all set up to reduce wait times and help clients overcome all the hassles. 

“We have a two-minute pre-qualification process for boat financing, with loan approval as fast as 24 hours,” Newcoast president Mike Hoffman says. “We have a free loan calculator that anyone can use on our website. And we work with a large network of top insurance carriers, so we make it easy for clients to find smart, affordable options for coverage tailored to their boat and their boating lifestyle.”

Newcoast’s expertise in yachts, boats and RVs is invaluable to anyone trying to close a deal quickly. It doesn’t matter whether you’re an individual, a couple or a corporation; Newcoast eliminates the need to go to multiple companies to get multiple quotes for financing and insurance.

“This is especially important given the current state of the boating marketplace,” Hoffman says. “Coming out of the pandemic, there are a lot fewer boats immediately available than there used to be—new or used. Having your financing and insurance paperwork sorted out quickly gives you an advantage as a buyer. You’re ready to close the deal at the best rate while other buyers are still checking various companies for rates.”

With financing and insurance, Newcoast’s access to multiple carriers is key. Boaters are not cookie-cutter people. All kinds of boats can be used in all kinds of destinations by all kinds of people. There’s a big difference between, say, a 30-foot center-console that a father and son will use for local fishing on the Chesapeake Bay and a 130-foot motoryacht with a crew that a multigenerational family will use for cruising down the East Coast to the Bahamas and Caribbean.

There are also factors with boats that only marine-industry experts will even realize are important to consider when choosing financing and insurance. Maybe you’re looking to buy an eight-year-old yacht, but it has newer engines that are only four years old, and the previous owner did a helm refit with new electronics that are only one year old. 

All those different warranties—from all different manufacturers—can matter to insurance companies, in particular. And insurance brokers that a client has worked with for years might not even think to ask about them. Even the best brokers for homes, businesses, and other assets might not be used to the marine space, making it hard for clients to get the best loan terms and insurance policies on boats and yachts. 

“Newcoast’s team specializes in boats, yachts and RVs,” Hoffman says. “This level of expertise makes a big difference for our clients in terms of financing and insurance. Not only can we help with getting the best rates, but we can also make sure the client is getting the best terms for their particular vessel and cruising plans.”

Maybe those plans are for a jaunt from Seattle out to the San Juan Islands in a motoryacht, or for an attempt at the Newport Bermuda Race in a performance sailboat, or for a cruise around America’s Great Loop in a trawler yacht.

“Whatever adventure you have in mind, Newcoast can get you to that adventure faster,” Hoffman says. “It’s who we are and what we do. Our customers are more than just a number, and helping them achieve their ownership dreams is what we aim to do every day.”

To learn more about Newcoast’s services, visit newcoast.com or call 866-639-2627.

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Review Highlights

“ I could not be more pleased with my decision to use Newcoast Financia Services for my boat financing . ” in 2 reviews

“ Marvin and Evie have made my first boat purchase seamless and delightful. ” in 2 reviews

“ I have referred RV and Boat Loan customers to Newcoast for 5+ years, and have always received an approval or other outcome within 1-2 days of application . ” in 2 reviews

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2600 McCormick Dr

Clearwater, FL 33759

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As a first time boat purchaser, I was unsure as to what I would have to navigate to get from mere interest in a boat, through the purchasing process and finally getting on the water. I confidently write Newcoast Financial Services is ready for the task at hand to make a big decision like this much easier. Max Rossi, Finance Specialist, has a firm grasp on everything in the process to facilitate a quick approval and to discuss optional services that make new owners comfortable with their decision. Ashley Vios, Loan Processor, followed up perfectly with everything Max indicated was necessary to close the loan in a timely manner. I could not be more pleased with my decision to use Newcoast Financia Services for my boat financing. I'll be back in a few years when I'm ready for an upgrade.

Julia took care of me every step of the way . Even with paperwork delays by the seller she kept me focused and got me a great boat

I just wanted to take a moment to express my gratitude for the professional manner you exhibited in handling the finance. Chelsea Wright consistently demonstrated a high commitment to communication and follow-up and provided me with valuable insight into the challenges of helping me on purchasing my boat. I have no doubt your persistent and tenacious approach will serve future prospective boat buyers and sellers as well. Chelsea Wright you are true professionals. Not only did you work hard to get me what I wanted, but you also made very sure that we knew exactly what we got by going above and beyond on assists me as much as you could. Thank you so much for your help, I'm truly grateful for all your help and support. Carlos Silvestre

just made a purchase and connected with Leanne Richards from Newcoast Financial. We had never used them in the past and would highly recommend Newcoast and ask for Leanne. She walked us through the entire process, very competitive rates and fees associated with our purchase. Thank you Leanne and Newcoast, there were some negative reviews but our experience was just the opposite and best of class.

3/20 Update So after emailing Newcoast about not getting my registration, I received a reply by their so called titling specialist that they have contacted the fish and boat commission and my registration would be mailed out this week. After thinking about the situation, I asked my wife to please contact the fish and game commission about the registration as we need the registration to use the boat. Good thing I made that decision. It ended up that the paperwork that they sent in was incorrect and a payment was needed to correct the situation. My wife paid the fee (this was already paid to Newcoast) to release the suspension. It will still take 2 weeks to get the registration. I was completely lied to to as they do not care about anyone after they get their fees. Sad part is,,,,, I sent them the receipt that was paid,,,,,,,,,,,,,,,,, and I got crickets!!!! That pretty much sums up the company's agenda. If anyone is considering using them, please contact me and I will share all the Bull**** they have shared with me through this process.

Still have not received the boat registration at 6 weeks. Do yourself a favor and just use a local credit union or bank. For anyone on here saying they are happy with their service I would like to know their registration turnaround and how much money they saved after paying their fees???????? Even my dealer thought they were a joke.

Terrible company to do business with. I used them for a boat loan recently. To start off they ran my credit at 4 different banks. I have a 830 credit score with a debt to income ratio of 12% and a 25% deposit. I was amazed when this happened and they said they wanted to get me the best rate. I fell for it. I was approved and was questioning the fees they were charging. The rate I received locally easily covered the their fees. Then came the reality. They stated all registrations was included in the loan. Not true. They sent me a check to cover the tax on the trailer and told me I had to pay the registration, fees, and get this done myself. Not too big of a deal so I did it. I inquired about the boat registration and if I was going to receive a temporary. I was told that it was submitted to the state and out of their hands but it will be processed in 4-6 weeks as they can not provide a temporary. I purchased my boat in the brunt of winter so not a major issue as of yet. But to anyone that expects to use their boat legally in a short period of time, do not use them. My fees to them were over $1,600 to fill out a few pieces of paper and mail them. To make it easier I also purchased my boat insurance through them. The insurance department had the incorrect vin on the policy that also caused issues. I will update when I finally get the boat registration as I just paid the first payment,,,,,,,,,,,,

Today is the day, my boat loan just got financed. This almost didn't happen. My boat dealer had me pre approved, only to come back as denied at the last minute. I'm self employed and the local banks and credit unions do not know how to read financials or do stated income. Michael Demask had me approve stated income and today I can celebrate the purchase of my boat. Michael is great on communication, knowledgeable, and has options when other brokers or banks can't or don't help you. If you do your part, Michael will do his to get thing done. Thank you Michael

the team front to back has been very quick and responsive. Marvin and Evie have made my first boat purchase seamless and delightful. every thing that pops up has been resolved by EOB and I can't recommend them enough!

Easiest boat financing I've ever done. Marvin is great and on top of your loan needs impeccably!! Thank you thank you! Loving our new ATX!!

Recommended Newcoast F. by sellers Broker. Ran my credit at a bank that doesn't even service Hawaii loans the first time. Second time they ran it, Kurt Wilbur was unfamiliar with preferred ships mortgage requirement for Hawaii. Was pre approved and moved to close with broker. The boat I'm purchasing does not even meet criteria to be documented but bank financing with requires it. I'm $1000 out for conducting the Survey. Over a month of back and forth to be told 12 hours from closing the deal won't go through. Every conversation started with me asking for updates. Zero real questions were answered when requesting changes from bank. Any real movement was work on my end to move things forward. More than dissatisfied with service. Glad I won't have any further ties with them. Rating would be a ZeRo star if I could.

Stay away from this company! They are the worst! They tell you what you want to hear to get you the loan, then hold up the paperwork so you cant use the boat you purchased. Samantha Strott was the person I dealt with. Once the loan was funded she wants to have nothing more to do with me. I keep emailing, trying to get my registration paperwork & she keeps telling me to call Annapolis yacht documentation ( Carrie Schmidt) They don't return calls. Now I'm sitting on a 130k boat & a slip I purchased that I cant use. Scam artists at their best. I'm filing a complaint with consumer protection.

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Malakut Insurance Brokers LLC

Tel: +74959331373 FAX: +7 4959331370 Email: [email protected] Web: www.malakut.com

HQ Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia

International Practice Group Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia

Legal form ofthe company (plc etc. ): LLC

Registration number of the regulatory authority: 4004

Business area / specialization:

Corporate P&C

Personal lines and EB

Aviation and Space

Marine and Energy

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Tatiana Razuvaeva

+7 495 933 1373 +7 916 473 7884 +7 495 933 13 70 [email protected]

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