Classic Boat Insurance

General chat about boats
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NorfolkNick
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Joined: Mon Apr 04, 2011 2:29 pm

Classic Boat Insurance

Post by NorfolkNick » Wed Aug 30, 2017 12:11 pm

I recently tried to insure a classic International 14 and my usual insurer (Noble Marine), quoted me over £200 p/a, based, I think, on the International 14 being a very fast, aggressively raced, slither of carbon fibre. I explained that mine was rather different (wood, bronze centerplate etc) and they then quoted me £180 p/a, which still seems a little high. So I was wondering if anyone had found an insurer who understands the difference between old and new boats and had managed to get a more reasonable quote. The other aspect of the quoted insurance is that it was the same regardless of whether the boat is being sailed, or laid up in a shed being worked upon, as mine will be for another year.

If anyone has any recommendations for insurers / brokers they would be appreciated. Thanks.
International 14 #85.

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neil
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Re: Classic Boat Insurance

Post by neil » Wed Aug 30, 2017 1:34 pm

When I owned Rannoch (1947 Uffa Fox International canoe) a few years ago, I was in a similar situation.

Ended up speaking to someone at WH Insurance (http://www.dinghyinsurance.com). They were very understanding, even told me I was underinsuring the boat when I gave them a value. They understood that care was needed when sailing the boat, so the risk was relatively low as the boat would not be left in a dinghy park, raced hard etc. Think I paid around £60 for the premium based on an insured value of £5,000
IC: K26
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Aquarius
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Re: Classic Boat Insurance

Post by Aquarius » Wed Aug 30, 2017 3:50 pm

neil wrote:When I owned Rannoch (1947 Uffa Fox International canoe) a few years ago, I was in a similar situation.

Ended up speaking to someone at WH Insurance (http://www.dinghyinsurance.com). They were very understanding, even told me I was underinsuring the boat when I gave them a value. They understood that care was needed when sailing the boat, so the risk was relatively low as the boat would not be left in a dinghy park, raced hard etc. Think I paid around £60 for the premium based on an insured value of £5,000
Thanks!
CVRDA eligible:
1962(?) Firefly F3163 "Aquarius"
1946 International Fourteen K478 "Galatea"
Not CVRDA eligible:
1991(?) Nethercot IC K229, "Ogaf the Unbearable"
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JimC
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Re: Classic Boat Insurance

Post by JimC » Wed Aug 30, 2017 5:13 pm

Its kinda awkward though. Our boats have low sale value, but enormously expensive to repair, so the smallest of incidents is probably an insurance write off. And then if we do manage to be responsible for an accident to a third party - swimmer or something - then its just as expensive as any other craft.

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Ed
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Re: Classic Boat Insurance

Post by Ed » Thu Aug 31, 2017 1:16 pm

As a rule, I just use 3rd party insurance cover from Bishop Skinner.

Any breakages are almost certainly going to be more costly than the value of the boat and I wouldn't want anyone else doing the work on the boats anyway.

The only thing that worries me is breaking a mast, especially a newish carbon one, but even then......if it is going to get fixed, then I would just as rather do it myself, than have someone else do it.

Best wishes

EIB
Ed Bremner
CVRDA


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Chrisrjwood
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Re: Classic Boat Insurance

Post by Chrisrjwood » Thu Aug 31, 2017 4:56 pm

I asked about insurance fully comp which I have had for my 14's but when pushed, Ed is correct, they will onl;y pay up to the value of the boat so if its worth £500 or less it's not worth getting fully comp. I am now only 3rd party because although fully comp is not much more there is no point if they wont pay out!!
Chrisrjwood
Uffa Fox I14 K500 Zeus
Fairey I14 Maelstrom K680
Jollyboat J325 Serendipity
Rouse I14 'Brown Trousers' K1094
Kirby 7 I14 Last Chance K1120
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Pegasus 187 'Fan'
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Chrisrjwood
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Re: Classic Boat Insurance

Post by Chrisrjwood » Thu Aug 31, 2017 4:57 pm

Might be worth it if it is a rudder or centreboard as these run from around £350 to 500 new (Milanes)
Chrisrjwood
Uffa Fox I14 K500 Zeus
Fairey I14 Maelstrom K680
Jollyboat J325 Serendipity
Rouse I14 'Brown Trousers' K1094
Kirby 7 I14 Last Chance K1120
Penultimate I14 K1337
Pegasus 187 'Fan'
Uffa Fox I14 Nymph K524 (under restoration)

cweed
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Re: Classic Boat Insurance

Post by cweed » Sun Sep 03, 2017 10:08 am

On this subject, has anyone found an insurer who will cover several boats on one premium, on the presumption that only one boat at a time can be sailed? As my boats are mostly rescued from being dumped, I only want 3rd party, and Newton Crum are fairly reasonable for most classes, but they don't cover Finns , (even doggy ones!)

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azimuth
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Re: Classic Boat Insurance

Post by azimuth » Sun Sep 03, 2017 1:33 pm

I did some shopping around for finn insurance (1 classic and 1 modern boat) earlier this year after a massive price hike from BS, I ended up with GJW, I think there was a multi boat discount but I'm still paying for both and still not cheap! Cost of replacement kit, especially masts, mean Finns are expensive to insure - if you don't have any carbon masts could be worth a phone call to see if they will take this into account.

Craftinsure were also a possibility and will give a reduction in you're happy with a higher excess.
Keith.

Finn K60 'Sfinnx' Fairey
Zenith 74 'Azimuth' (rescued from the undergrowth 20yrs ago)
Zenith 61 'Bali Hai'... A family heirloom...

Michael4
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Re: Classic Boat Insurance

Post by Michael4 » Thu Sep 07, 2017 2:39 pm

For what it is worth...

I have just renewed my policy with Insurance4Dinghies (Towergate) for my Tideway, insured value £2000

Last Year's premium total £42.12

This year's premium inc increased IPT @ 12% total £18.50

Haven't a clue why, I've double checked but happy to not ask any more...
Tideway 206
11+
Something bigger and plastic

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jpa_wfsc
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Re: Classic Boat Insurance

Post by jpa_wfsc » Thu Sep 07, 2017 8:09 pm

azimuth wrote:... still not cheap! Cost of replacement kit, especially masts, mean Finns are expensive to insure - if you don't have any carbon masts could be worth a phone call to see if they will take this into account.
I just went for 3rd party only... but I wonder how much it would cost to replace the needlespar if it did break??? And indeed, how would I find a replacement?
j./

National 12 "Spider" 2523
Finn K468 'Captain Scarlet'

British Moth, 630, early 60's 'Pisces'

!!!! Not CVRDA !!!!
Comet Trio - something always ready to sail.

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azimuth
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Re: Classic Boat Insurance

Post by azimuth » Thu Sep 07, 2017 9:26 pm

jpa_wfsc wrote:
azimuth wrote:... still not cheap! Cost of replacement kit, especially masts, mean Finns are expensive to insure - if you don't have any carbon masts could be worth a phone call to see if they will take this into account.
I just went for 3rd party only... but I wonder how much it would cost to replace the needlespar if it did break??? And indeed, how would I find a replacement?
Would have to hunt for a second hand one, they don't go for much money but they don't come up much either. I have a spare red top I could be pursuaded to part with if it got someone back on the water.
Keith.

Finn K60 'Sfinnx' Fairey
Zenith 74 'Azimuth' (rescued from the undergrowth 20yrs ago)
Zenith 61 'Bali Hai'... A family heirloom...

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