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Old 14 April 2015, 06:39   #11
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Out of interest under what circumstances would insurance companies look at engine size vers hull design? Water borne accident (underwater damage), traffic accident (on trailer), theft, fire, third party claim obviously excluding a MAIB report or all of the above?
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Old 14 April 2015, 07:02   #12
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Just me being skeptical but for example if you run over a swimmer and chop off their legs and the insurance company finds out that the boat engine rating is 70 but the engine on at the time of the accident had been changed to an 80, I would bet my bottom dollar that they would not pay out.

Those insurance company's that say its okay as long as it cannot exceed 50 mph and I don't doubt Maximus on this, I personally would like to see in writing that "regardless of the engine rating as long as it cannot reach speeds of over 50 mph they would pay out for any damage or injury to third party's" then I suppose that would be happy with that and wished that I would have got a bigger engine

Like John Kennett said.......This is something that is often said, but do we know if it's actually true?

I know we've got some insurance companies represented here, maybe they'd like to comment? Were still waiting
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Old 14 April 2015, 08:00   #13
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They'll never give a cast iron opinion on here.theres no upside for them.

As for 50mph, I doubt they'd follow that through if I strapped a 30hp to my 2.5m rib and hit someone. Each case and firm will have their own T&Cs
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Old 14 April 2015, 08:29   #14
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Insurance companies are businesses and employ staff who look to reduce their costs.

Any chance of reducing a pay-out will be looked at.
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Old 14 April 2015, 11:02   #15
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I've looked at lots of claims - but none yet involving a boat with an oversize engine - so I can't comment on the point of view of Insurers I work for.

However, most are "reasonable". If the boat / engine was stolen it's possible it won't be an issue.

If there was a collision or some other "loss of control" then it probably would be an issue.

If there was an injury - and this is where claim values start to escalate, then it almost certainly would be an issue.

I have had an experience of a claim on a boat that could clearly do over 50knots, but was stated on the policy to be slower, where a passenger was injured. There then followed a very detailed discussion and digging out of recorded telephone calls from the time that the policy was taken out over the phone to determine what the Assured said at the time.
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Old 14 April 2015, 11:52   #16
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There was a ribnet member on here who works for insurance companies, unfortunately he was banned from the site. I will see if I have any contact details and get his view.

My view is its not worth the potential hassle if the worse happens, insurance companies may say one thing but like many suggested if the worse happens they will be running to lawyers to get out of paying. And the worse could mean a million quid personal claim, you may be paying out for the rest of your life.

So surely it just isnt worth it, of you want a bigger engine then get a bigger boat simples.
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Old 14 April 2015, 12:32   #17
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Quote:
Originally Posted by boristhebold View Post
There was a ribnet member on here who works for insurance companies, unfortunately he was banned from the site. I will see if I have any contact details and get his view.
Yes, it's a pity he was so unhappy here but we've rather done that subject now.

He does't work in marine anyway, but luckily one of his colleagues who does is a trade member so I've dropped him a line.
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Old 14 April 2015, 12:52   #18
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Quote:
Originally Posted by HUMBER P4VWL View Post
They'll never give a cast iron opinion on here.
Why not Paul they should do if they are flogging boat insurance....?
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Old 14 April 2015, 14:12   #19
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Well they'd state the obvious in that "you're insured if it's within the CE mark". But people are after an insurer to make a generic, sweeping statement, non policy/company specific on here with categorical confirmation of cover. Never going to happen and it'd be invaluable if they did.

Each person needs to speak with their own insurer re their own boat.

I don't get this thread really in what people are after......It's common sense as Searider said, the bigger the claim, the more they look in to it.

Claim for a stolen 500 2.5m rib with a 6hp engine that a 4hp max on the plate and it's irrelevant.

Claim for a paralysed skier, hit by an out of control 5.5m boat that had a 200hp on it rather than 125hp and you'll be paying yourself.

Run an oversized engine at your own risk/reward. It's just like chipping your car, do you tell the insurer. You'll be covered for bumping in to someone, but write a car off and paralyse someone and they'll go through it with a toothcomb, full diagnostics will reveal your omission!
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Old 14 April 2015, 15:58   #20
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An oversized outboard for me is asking for transom damage, and weakening at the deck joints, as it will be heavier and provide more thrust than the build spec of the boat. Couple this .... with a heavy interior layout, and you can guarantee a 'stressful' time.... add to that an enthusiastic driver and you can be sure the transom will have had a hard time.

Ive had experience of manufacturers not always being honest about what their transom can realistically handle .. that may be true moreso at the birth of heavy four strokes, but none the less pushing any design to a limit will expect trouble, exceeding it will usually guarantee it , and then the manufacturer of course wont look at you. TBH its not worth it for a few extra knots, not that I ever did it, all my boats have been within the stated max specs.
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