Insurance Help/Advice

[JawsOrca]

Hi All,

 

Ok so my survey came through from the surveyor.. All good..

 

I called our insurance company at lunch and asked them what to do. They said... it's fully comprehensive anyway.. but I said I've only put the value as £1 it now needs to be at least increased to the value on the survey.  The company clicked some buttons and said ok all done. No change of policy premium?!

 

I'm with a well known insurance online company and the premium is £120 a year.  I called Nav and gen who underwrite this company.. they quote £260 and ask for a copy of the survey!!  I emailed them back saying .. thanks but how comes xxx.com who you underwrite charge me almost a third of this and don't want to see the survey??!.  Nav and gen reply saying along the lines "xxx.com policy is fully com don't worry" but I smell something dodgy here..and I don't trust insurance companies (I used to work for one and I know what they are like).  Either nav and gen are overpriced or xxx.com is cheap but the policy is going to be a pain if I need to claim. I want fully com (and I want to pay for it) for piece of mind as I haven't been working for the last 14 months to have problems if something goes wrong..

 

Any ideas what to do? Talking to the surveyor he said it will be about £200 a year for fully com.  

 

Please help   

 

Alan

[Poppy]

The premium 'sould' depend on the insured value - so much/£1000. I've been with 'Yachtmaster' for two years now. They know the Broads and the type of boats and the risks found here.

http://www.yachtmasterinsurance.co.uk/

[Polly]

We use Nav and Gen and are really happy with them.

[diesel falcon]

look for around a 1 pound per 1000, for a boat capable of 34knots, so yours should be slightly cheaper  this is with offshore use aswell

[JawsOrca]

Thanks chaps. I'll give yachtsmaster a call and see what they offer. I'm not comfortable staying with this policy although its a but more than £1 per 1000 so it maybe right.

[MauriceMynah]

£1 per 1000???

As my boat is worth about £15,000 you're saying my premium should be £15 ???

I'd be happy to pay that.

I would reckon on nearer £2 per £100! I pay a little less than that with Nav & Gen.

 

What value do you put on your craft?

[JawsOrca]

Hmm lol. The surveyor currently valued at £10k although expects £15-£18k when finished. I expect the insurance to be around £250 though which is roughly what n&g came back with.  How much is your premium?

[Liberty]

We are with craftinsure and although I have not had to use them, they were willing to negotiate about staying in the water over winter and would cover engine damage if frozen.

 

I tried Nav and Gen as there is a discount with the Broom owners club.  It was really hard work getting a quote from them, and they were loads more expensive  so I stayed with craft insure.  About £700 including offshore.

[BroadScot]

Insurances of any kind always remind me of this!

 

 

 

Iain.

 

 

 

[JawsOrca]

Lol i like it Iain, it's just that!

[diesel falcon]

whoops a 0 crept in!!  i pay 320 with off shore

[MauriceMynah]

My premium is about £240 or just under. That includes  about 20 years NCB

[BroadScot]

My premium is about £240 or just under. That includes  about 20 years NCB

Just goes to prove you must be a very GOOD Helmsman MM

 

Iain.

[MauriceMynah]

Better at "Hit n Run" than most

[Liberty]

whoops a 0 crept in!!  i pay 320 with off shore

 

Crikey..!

 

Who with?

[diesel falcon]

Bluefin , from bishop skinner marine, have 5 years no claim bonus, an,think it,s underwritten by axa

[Liberty]

Thank you .  I will have a sniff around in August and stick Bishop Skinner on the list.

 

[MauriceMynah]

So, does 1.5% to 2% seem to be at all accurate as a working figure to budget to?

[ranworthbreeze]

Our insurance has been with a broker called Morgan Marine Insurance for the last five years, last years insurance in July was £523 and is underwritten by Allianz.

 

Regards

Aaln