Insurance premiums

[BogMonster]

What would you expect to pay in the UK for third party liability and hull insurance on a £25k RIB?

I have just made some enquiries and while there isn't really much of a boat insurance market, the indication was about £2500 for a year. Which for 50 hours a year is, oh, about a pound a minute - no bloody chance!

I'd be expecting a premium in the low hundreds, what does anybody with a similar sized boat pay for pleasure use?

[Boo]

I am around £300 for a £40K boat/trailer/'engine etc with the standard £3 million liability cover.

I know I had to get permissions extended to travel further than 12 miles from a safe haven but am essentially insured for pleasure use in British and Irish coastal waters.

I would think your quotation must be taking into account where you will use the boat?

Boo

[BogMonster]

Originally Posted by Boo

I would think your quotation must be taking into account where you will use the boat?

You would hope so; a completely deserted launching slip, and nothing and nobody to run into on the vast majority of voyages but it doesn't seem to work like that

That is the sort of figure I was expecting and in line with a couple of the online quote functions on websites.

Thanks, any other figures from other people as well please, more ammunition

[camtheribman]

For ribs around the 6m mark all my quotes were around £300 mark. If this is any use.

[bedajim]

Just done mine under £350.00 with extended cruising limits

[Nasher]

Yep, another around £300.

Nasher.

[PeterM]

Yep around £300-400 for a UK based boat - but playing devils advocate .....

Based several thousand miles away in a 'remote' (from the majority of suppliers etc ) there is far higher risk of not getting a freindly RNLI crew to tow you in should something go wrong- so the whole boat gets lost, and the potential 'big' extra cost to get 'bits' out to you or a local repairer should the need arise for repairs.

So I'd expect you would pay more than us handy UK boats - but agree £2500 seems rather steep.

Get on the phone to some specialists and explain & see what they say ?

[ashbypower]

Wow Thats alot!!! Is there a threat of Invasion ???

[Polwart]

Originally Posted by PeterM

Yep around £300-400 for a UK based boat - but playing devils advocate .....

Based several thousand miles away in a 'remote' (from the majority of suppliers etc ) there is far higher risk of not getting a freindly RNLI crew to tow you in should something go wrong- so the whole boat gets lost, and the potential 'big' extra cost to get 'bits' out to you or a local repairer should the need arise for repairs.

So I'd expect you would pay more than us handy UK boats - but agree £2500 seems rather steep.

Get on the phone to some specialists and explain & see what they say ?

aye, but the risk of theft must be pretty low (where are they going to take it. And given that my much cheaper boat isn't that much cheaper to insure - i.e. a £4k boat is about 100-150 a year then a big chunk of the 'risk' must be the perceived 3rd party risk. In a smallish RIB I would say that is probably mincing someone in the water or sinking a yachty - surely its much less likely that this happens in the middle of the ocean than the solent....

[neilda]

My insurance is around £300 a year for a similarly insured sum. Porthcawl Insurance was who I used:

http://www.porthcawl-insurance.co.uk

I have no connection to this company - but they seem proficient in all that they do.