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Insurance Journal Features Stuckey & Co. HarborGuard

By: Elizabeth Sedlock | Posten on: Feb 27, 2012 4:13:00 PM

The Insurance Journal featured Stuckey & Company's HarborGuard program in an article about the marina insurance market.  You can read an excerpt from the article below and find the rest on the Insurance Journal site at:


Insurance Journal Features Stuckey & Co.


Marina Market Tightens Up in the Wake of Catastrophe-Ridden 2011

The marina insurance market seems to be heading for some changes, thanks to the stormy losses of 2011.

While the hard/soft market cycle has been a fact of life for the insurance industry almost since its inception, it is beginning to morph into a more individual pattern, which could be termed “cycle specific.” Essentially, the cycle is affected by regional events. The Japan earthquake and tsunami raised rates in that country, as did the earthquakes in New Zealand and the floods in Australia. But these events had a far lesser effect on the overall cycle, which is still generally a soft market.

"Disasters have pushed rates for marina coverage up by nearly 25 percent."

Marina coverage is no exception. “Generally it’s still a soft market,” said Kerry Stuckey, COO and co-founder of Stuckey and Co., a St. Louis-based wholesale agent that specializes in marinas, as well as other specialty lines. However, the high number of tornadoes that struck the South and Midwest, particularly the massive destruction in Joplin, Mo., as well as the floods in Tennessee, have raised exposure levels and have pushed rates for marina coverage up by nearly 25 percent.


Topics: Stuckey & Company, marina insurance, harborguard, Stuckey & Co., boatyard insurance

Marina Insurance Market Hardening According to Early Indicators

By: Elizabeth Sedlock | Posten on: Feb 24, 2012 10:20:00 AM

According to early indicators, the marina and boat dealer insurance market is hardening because of 2011’s increased losses.  For that reason, you need to get marina and boatyard insurance submissions in as soon as possible to receive the best quotes possible and get access to the HarborGuard marina insurance program.

Due to the large losses carriers sustained during 2011’s storm season, carriers are increasing rates and deductibles across the entire class of business.  In addition, many well-known carriers have vanished from the marketplace altogether and those that remain have a decreased appetite, especially in weather-prone regions.

“To get the most competitive quote, agents need to submit a HarborGuard application immediately,” said Kerry Stuckey, COO of Stuckey & Company.  “The hardening of the market is gathering steam so time is of the essence if you want to ensure access to the HarborGuard program for your clients."

Silver Bay MarinaHarborGuard offers comprehensive insurance coverage tailored to the unique risks of the marine industry.  The program is available to qualifying inland risks in 46 states (excluding Alaska, Hawaii, New Hampshire and Florida). We have in-house (same-day) quoting authority for many risks, and offers 24-hour turn-around for others.

Liability can be given up to $1 million per occurrence / $2 million aggregate, for general liability, marina operators legal liability (MOLL), watercraft liability for rental boats and work boats, non-owned auto liability and liquor liability. Minimum annual premiums for $1 million / $2 million limits are $2,500.

Property coverage is written on a special coverage form and the valuation of the property can be replacement cost or actual cash value. A $5 million TIV property capacity is available for onshore, floating, vessels, miscellaneous equipment and boat dealers’ inventory. Deductibles start as low as $1,000.

If you are interested in writing HarborGuard policies, submission requirements include a completed HarborGuard application, expiring premium (if possible), pictures of any docks, and three years of loss runs for the business. If you have not worked with us in the past, you will also need to request and complete a brief application to become an appointed agent.

Contact Kerry Stuckey at 800-828-3452 x14 (kerry@stuckey.com) for all the details.

Topics: marina insurance, harborguard, harborguard, boatyard insurance, marine insurance, boat insurance

Mid-West Marina Insurance – 4 Things to Consider

By: dwight stuckey | Posten on: Jan 6, 2012 1:42:00 PM

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Right now, marina and boatyards in the Mid-West (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin) might be having trouble finding insurance coverage that meets all their needs.  With the huge surge in tornado claims in 2011, many carriers have either stopped offering coverage in the Mid-West or raised the deductibles to upwards of $100,000.  So, where does that leave your customers?  One thing to make sure you do when quoting this type of insurance for your customers is to shop around.  Here are few things to consider:

- Deductibles: Look at the deductibles to ensure that you are getting the most coverage for your customer’s money.

- Covered Docks/Property: Confirm that covered docks are adequately insured, including collapse from snow/ice and wind/hail.

- Specialty Insurance: Underwriters: Since rates are going up at all the major carriers, check with some of the specialty underwriters for better coverage options.

- Co-Insurance: Beware! Some carriers only offer ACV.

If you concentrate on these four things, you can grow your marina business and get better deals for your customers.

Topics: tornadoes, tornado, weather, Stuckey & Company, Blog, marina insurance, specialty insurance, hurricane season and insurance, Stuckey, Stuckey & Co., boatyard insurance, marine insurance, boat insurance, mga insurance


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