Ahoy! Insurance Expands into Florida’s Boating Market
Ahoy! Insurance, a pioneering insurance company designed by boaters for boaters, has made a significant leap into Florida, renowned as one of the largest recreational boating markets globally. This strategic expansion aims to tap into the vibrant boating community in the Sunshine State, offering tailored insurance solutions that cater specifically to the needs of boat owners.
Founders with Expertise and Vision
Founded in 2021, Ahoy! Insurance was established by a dynamic team of professionals with extensive backgrounds in both military and insurance sectors. The company’s founder, Amit Nisenbaum, is a former Israeli naval officer with a track record of successfully launching startups. He is joined by Kenan Hertz, who previously held positions at USAA and Insurtech Advisors, and Shachar Segev, an accomplished engineer with leadership roles in both U.S. and Israeli tech companies. Additionally, Bob Jones, who has significant experience with Progressive Insurance, serves as the vice president of distribution, bringing valuable insights into the insurance landscape.
Comprehensive Coverage for Boaters
Ahoy! Insurance operates from its New York offices and aims to be a one-stop shop for insurance agents seeking coverage for boats. They provide coverage for vessels measuring up to 95 feet in length and valued at up to $2.5 million. The company’s offerings include government-backed insurance options and excess and surplus (E&S) coverage, ensuring that boat owners have access to a variety of insurance solutions that meet their unique needs.
In a notable development, Ahoy! Insurance was acquired in the spring of 2024 by Bishop Street Underwriters, a respected managing general agency. This acquisition is expected to enhance the company’s service capabilities and expand its reach within the boating insurance market. Some of the coverage options are provided in partnership with Spinnaker Insurance Co., further solidifying their offerings.
Strategic Timing for Florida Expansion
The timing of Ahoy!’s expansion into Florida is particularly strategic. The state’s boating industry is currently experiencing fluctuations, with some insurers raising premiums and reducing coverage options. This environment presents an opportunity for Ahoy! Insurance to step in and offer competitive rates and comprehensive coverage options to boat owners who may be feeling the pinch from rising costs.
In addition to its Florida expansion, Ahoy! recently launched a yacht underwriting program for larger vessels on a nationwide scale. This initiative reflects the company’s commitment to addressing the diverse needs of boaters across the country, particularly those with larger and more valuable vessels.
Navigating the Future of Boating Insurance
As Ahoy! Insurance continues to grow, its focus remains on providing innovative insurance solutions that are deeply rooted in the boating community. By leveraging the expertise of its founders and adapting to the changing landscape of the insurance market, Ahoy! is well-positioned to become a leader in boating insurance.
For boat owners in Florida and beyond, Ahoy! Insurance represents a fresh and reliable choice in a market that is often challenging to navigate. With a commitment to customer service and a deep understanding of the unique risks associated with boating, Ahoy! is set to make waves in the insurance industry.
Explore More About Boating Insurance
For more information on boating insurance options and to see how Ahoy! Insurance can assist you, visit Ahoy! Insurance and explore their offerings tailored specifically for boaters. Additionally, for insights into the broader boating industry and trends, check out the National Marine Manufacturers Association for comprehensive resources and support.
In summary, Ahoy! Insurance’s entry into Florida not only enhances the options available for boaters but also signals a proactive approach to addressing the challenges faced in the current insurance landscape. With a focus on community and tailored solutions, Ahoy! is ready to navigate the future of boating insurance.