Insurance

General chat about boats
roger
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Post by roger » Fri Sep 24, 2004 3:08 pm

Somewhere in the old forum there is a discussion about the best insurers. Can I have your views again. Was Noble suggested?? Your comments will be appreciated.

Roger
Hornet 191 Shoestring,
Hornet 595 Demon awaiting restoration
Hornet 610 Final Fling
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Garry R
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Post by Garry R » Fri Sep 24, 2004 3:32 pm

I am insured with Bishop Skinner for my Merlin. Trouble free online quote - in fact it doesnt take long to shop around on the web to get a few quotes. Covered for the usual £2,000,000 third party insurance (a lot of rather expensive oil rigs round here!!!!) but a £700 value on the boat for damage, theft and towing damage and I think I was about £48 for the year which I think was OK.

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Ed
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Post by Ed » Fri Sep 24, 2004 4:21 pm

It all depends on your boat.....nothing else much matters.....just the class:

I rang around tons trying to get decent insurance for my 1949 Int 14.

Many would not quote because of age.....nothing pre-1965.

Others would quote but demanded a survey from an independant surveyor/boat builder.

Normally conversation would go something like this:

<me> Will you insure my 'classic' 1949 Int 14....

<insurer> (deep intake of breath)....Oh let me see.....I think they are rather expensive to insure.....(long wait)

<me> why is that then?

<insurer> Well they have a big red star alongside them which says they are a bad risk......I guess it is because they are all so new and expensive and race so much.....

<me> OK then.....mine isn't new....I just said it was made in 1949....and we don't really race very hard...just river and lake stuff. Will it be cheaper?

<insurer> Well no....not if it's a Int 14......Oh hear we go....do you want 'mast cover'?

<me> Yes I guess so.

<insurer> Well it cost extra to cover your mast....

<me> Why?

<insurer> Carbon you see....

<me> No it's not......it was made in 1949!

<insurer> Well don't blame me....that is what is says here on the computer screen....

<me> No, I have just got a good old fashioned ali mast...

<insurer> Well if you want it insured you will have to pay extra...OK, now what kind of 'struts' does it have....

<me> sorry?

<insurer> Does it have 'carbon' mast struts?

<me> NO.....I just said..... its a bloody OLD boat.

<insurer> Well we don't really insure old boats.....not a very good risk you see

<me> At least its not made out of ****** carbon!

Honestly ....that is pretty much how it went.....and that was one of the 'big' companies....who in fact would happily give a fine price for a GP14 or Albacore.....just not an Int 14

What did I settle for......£56 simply for 3rd party cover. I could not find anyone who would insure me without an independent survey.

It is getting to be very expensive to keep a few boats on the water. I suspect the 14 will go on the water less than 10 times in the year.....but I have to pay £56 for the pleasure....because the 14 is considered such a bad risk!!!!

rrrrrrrrr

think I better go and have a drink to calm down

cheers

eib
Ed Bremner
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alan williams
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Post by alan williams » Fri Sep 24, 2004 4:52 pm

Hi Roger Try Craft insurance Advertised in Y&Y insure all my boats with them. Only ever had one quary and that was for the Shark as no one a heard of it provided them with info on boat insurance now £4.6o per month taken from my credit card account. They were great easy to deal with and i feel very reasonable. I used to insure my NACRA cat with Nobles (new for old ) ha ha I broke a boom and they would not replace it with a class legal part as too expensive. Had to use a Hurricane boom instead and build it myself so much for new for a old replacement. Their insurence cost me £189 a year. Needless to say NACRA now with above for £4.60 a month. Ok I do insure my old boats for a fixed value of £1000 max. Lets face it the boats only worth what someone will pay for it. You read of valuations on N12 of £5000 for an old Uffa King who's kidding who. Be realistic with valuations and you will get reasonably priced insurance.

Cheers Al Williams owner of the last sailable Shark Cat in Britain.

Rupert
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Post by Rupert » Fri Sep 24, 2004 5:37 pm

I go round them all regularly, and apart from for the Minisail, which I would probebly never claimed for even if something had broken, I always end up with Noble, as they are the only one with new for old cover whatever the age of mast/sails. Bishop skinner, craft insure etc all would leave you stuck on anything more than afew years old. Read the small print, everyone!
Rupert

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Post by Mark » Fri Sep 24, 2004 5:50 pm

My motley collection are with Noble..... Haven't claimed yet, so can't comment but hace never had any problem with cover and they realise that a 1959 Merlin is not made of FRP and does not have carbon spars
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stu
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Post by stu » Fri Sep 24, 2004 5:53 pm

Cor, thank god this thread came up, it has reminded me to get some cover for my canoe (i'm gonna be a liability!!) As for out current insurer we use John Lane for the N12 and the Suoernova. Always been good and helpful and cheaper than the others. Interesting to see what they say about the canoe.

Neil has a contact at an insurer but for the life of me can't remember the name......:?:
The only canoe sailor in MY village too !

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neil
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Post by neil » Fri Sep 24, 2004 9:03 pm

Rannoch is insured with http://www.dinghyinsurance.com/ - talk to Tim. He also insured my Spearhead very reasonably as he knew the class.

With Rannoch I had an interesting situtation, she cost me £750 but has been valued at £5000 by an independent surveyor. After talking things through with Tim I had to insure for the £5k as if anything happened to the boat and I had insured her for less the policy might not pay out as I would be underinsured.

There are a number of issues with insurance as Tim has said he would welcome CVRDA boats BUT they need to be boats that have some sort of documentation. I was lucky with Rannoch as she came with a survey but insurers are trying to avoid getting rotten old GP14s (sorry to use the GP as an example!) and then be expected to pay out on knackered old boat.

Now, we know that CVRDA members boats are their pride and joy and there has to be a way of demonstrating that our boats are sound, well cared for etc. I've spoken to Ed and Stu about this in the past - maybe the CVRDA could act as a sort of insurance measurer IF we can establish a relationship with a broker. But I think there are going to be liability issues here.

Another problem, pointed out by Ed , is multiple boat ownership (or greed as I'm informed) is very expensive on insurance. It would be nice to find a multiple boat policy.
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chris
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Post by chris » Sun Sep 26, 2004 9:51 pm

I use Noble Marine.BUT
1)i only insire third party because any repair I want to have control over (or completely do myself).
2)To insure for a realistic replacement value is way above what you pay for an 'OLD' boat. The two values simply don't match up.
3) I'll take the risk if the boat is totally destroyed. (you can't replace it exactly anyway, so why bother.
4)I'm somewhat sceptical of insurance companies paying out any way. Ie If I make a wooden mast which fails will they pay out to replace it with a new (wooden) one any way? (As if that would happen!!!!!) I'll just accept it gracefully!!!!!
5) Noble marine have put two (similar) boats on one policy at no further charge (third party) ...Good news.

Chris

roger
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Post by roger » Mon Sep 27, 2004 8:47 am

Thanks for all the feed back. I have been with Admiral Marine and they give me 10% discount for the second boat. Last year they underquoted me for the Hornet and now want £110 (£40 last year) and £40 odd for the Rotten old GP(huh). Guess its time to do some shopping around.

Roger
Hornet 191 Shoestring,
Hornet 595 Demon awaiting restoration
Hornet 610 Final Fling
Hornet 353

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stu
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Post by stu » Mon Sep 27, 2004 8:55 am

£115 (new for old) for my canoe with Nobel. Most expensive was craft insure £3 shy of £200 !! Most online quotes not far of £200 either. [:(!]
The only canoe sailor in MY village too !

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Pat
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Post by Pat » Mon Sep 27, 2004 1:54 pm

How appropriate to find this thread the day my renewal quote landed on the doormat!!
I've been with Admiral for the last couple of years as they gave a reasonable quote and I worked next door and could pop in and talk to them. With boat changes it's been varied but this time they want over a hundred pound for my £2,600 worth - 2 GRP boats which aren't even old enough for CVRDA.
The Lark class association offers a discount with one company (I think it's Noble) so I'm going to try them. Try checking if yours does.
Maybe the CVRDA as an association could negotiate a discount for members.
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Ed
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Post by Ed » Mon Sep 27, 2004 5:52 pm

mmmmmmm.....I have asked brokers about this....

all the people I have asked have suggested that they consider any boat over 30 years old to be an extra risk and did not really want to cover these.

cheers

eib
Ed Bremner
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Post by keithr » Tue Sep 28, 2004 7:20 pm

At the risk of sounding really grandadish try Saga, my fifteen insured third party all inland and coastal waters of UK value £850. for £69.00 . One claim this year with no problem.

Keith
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Rupert
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Post by Rupert » Tue Sep 28, 2004 9:23 pm

for some of us its the boat thats over 50....
Rupert

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