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Boat Insurance » Selling

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Selling boats worldwide, from Sarasota

Monday, December 23rd, 2013

Selling boats worldwide, from Sarasota
News from Sarasota Herald-Tribune:

Published: Monday, December 23, 2013 at 1:00 a.m.
Last Modified: Saturday, December 21, 2013 at 5:32 p.m.

But for the two owners of POP Yachts International, who were themselves hurt in the real estate crash, the combination of boat sell-offs and their own software acumen resulted in a new kind of boat brokerage that has taken the industry by storm.

Less than five years old, the Sarasota company operates a national brokerage that completed its 1,000th boat sale of 2013 earlier this month, at an average price of $ 38,000.

The business is fueled by Internet listings that fan out to 150 sites.

“We conservatively expect sales growth of 30 percent to 60 percent in 2014,” said Nick Owens, chief technology officer and co-owner of the business with Scott McNally.

Going into 2014, the company has 4,300 live listings, which are being shown by 140 agents nationwide.

Besides the global Web exposure, customers are drawn in by the business covenant inherent in the company’s name, which stands for “Paid On Performance.”

McNally, POP’s chief operating officer, came up with the concept in which sellers are only obliged to pay sales commissions if POP brings in a deal that sellers agree to. Sellers, meanwhile, can continue working to sell their boats on their own.

“That was one of the keys for getting so many list…………… continues on Sarasota Herald-Tribune

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Boats smitten by Sandy selling in South Florida

Thursday, January 17th, 2013

Boats smitten by Sandy selling in South Florida
News from Sun-Sentinel:

Flotillas of boats savaged by Hurricane Sandy are finding their way from the Northeast to South Florida, as insurance companies shed damaged goods and purchasers chase a good deal.

“We’ve got a lot of people from your area that buy from us, tons of people from South Florida,” said Ron Milardo, founder and owner of Cooper Capital Specialty Salvage of Old Saybrook, Conn.

“That doesn’t surprise me at all,” said Gordon Connell, executive director of the

… Read the full article


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OneBeacon Cuts Ties with Hagerty Agencies, Selling Essentia to Markel

Wednesday, October 17th, 2012

OneBeacon Cuts Ties with Hagerty Agencies, Selling Essentia to Markel
News from Insurance Journal:

OneBeacon Insurance Group Ltd. is selling its Essentia Insurance Co. unit to Markel Corp., according to company announcements this morning.

Essentia focuses on the collector car and boat business that the company writes through Traverse City, Mich.-based Hagerty Insurance Agency and Hagerty Classic Marine Insurance Agency. OneBeacon said it will retain the loss reserves and unearned premium reserves associated with the business written prior to the sale of Essentia and run them off in the normal course.

OneBeacon said it anticipates recording a $ 23 million pretax gain on the sale ($ 15 million after tax) when the transaction is completed. The deal is subject to regulatory approvals and is expected to be completed in January 2013.

Essentia, under Markel ownership, will remain the underwriting company for Hagerty’s collector car and boat business.

Hagerty has not been sold and continues to be a privately-owned family business. Hagerty offers insurance for classic cars, vintage boats, motorcycles and related automotive collectibles.

OneBeacon CEO Mike Miller said the OneBeacon has partnered with Hagerty for the past five years, but the two were unable to reach mutually acceptable terms to extend the relationship. “We believe the economics associated with the termination of the Hagerty agreement and the related sale of…………… continues on Insurance Journal

… Read the full article


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Insurance agent accused of selling bogus policies

Thursday, October 20th, 2011

Insurance agent accused of selling bogus policies
News from Wink News:

PORT CHARLOTTE, Fla.- A Port Charlotte insurance agent faces charges for allegedly selling fake boat insurance.

Jack Alexander, owner of Insurance Depot of Charlotte County and employee Kristin Decker-Hopkins, face third-degree felony charges for allegedly selling fake boat insurance to over 20 clients.

One of Insurance Depot’s former clients tried to file a claim last year, only to find out the policy he bought wasn’t legitimate.

Florida Chief Financial Officer Jeff Atwater’s agency investigated the crime.

“As insurance consumers, Floridians place trust in their insurance professional and these individuals deliberately broke that trust,” Atwater said in a statement.

Alexander declined to go on-camera, but told WINK News he bought boat policies from Quebec-based International Water Safety Foundation for years and only found out they weren’t legitimate, when the state pressed charges against him.

Alexander says he invested in the company after they…………… continues on Wink News
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Hot Boomer & Womens Product Retirement Insurance Aka Long Term Care Insurance Buying Guide. Cash In On Lucrative Boomer Market. U.s. Citizens 50 To 65 Possess 30 Percent Of All Discretionary Income In U.s. Boomers Are Online And Ready To Buy.
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What Agents Should Know About Selling Boat Insurance—Slideshow

Monday, June 20th, 2011

What Agents Should Know About Selling Boat Insurance—Slideshow
News from PropertyCasualty360:

With summertime officially here, potential and existing policyholders may begin asking for advice on what types of boat insurance coverages they should have or need. As their agent, do you have a good working knowledge of the products and the market? The answer depends on many factors, including the type of customer as well as the type of boat they’ll be using. 

Below and on the following pages are photos of common watercraft to help you match coverages to the needs of many different kinds of boat owners: runabouts/pontoon/ski boats; bass/walleye boats; sailboats; high-performance craft; and yachts and houseboats.

Runabouts, Pontoons, and Ski Boats

In theory, virtually any boat can pull a skier, and if your insured plans to do so, they should consider a water sports endorsement with higher liability limits. Most boat owners should also consider coverage for…………… continues on PropertyCasualty360

… Read the full article


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