Reply
 
Thread Tools Search this Thread
 
Old 29 May 2019, 18:06   #1
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Hi chaps, I currently keep my 3.0 metre honwave ashore, but I've got the possibility of moving to a place on a pontoon, i.e. afloat (at some states of the tide anyway). I noticed that my insurance has a line where it says the boat will be kept ashore when not in use, so I casually emailed the insurers about keeping it afloat, expecting to pay a few quid more or whatever. They're still thinking about it. So I checked around in case I have to change insurers, only to find the entire insurance industry "having a cow" as Bart Simpson might say, about it being kept afloat.
As a lifelong home insurer and car insurer I am of course quite used to the fact that insurance underwriters must be smoking crack or something, but there are about two dozen other boats similar to mine on the pontoons - surely at least some of them must be insured? Next time I get down there I'll ask around but in the meantime, any recommendations for sensible insurance companies please?
TIA Terry.
__________________
Elcaro is offline   Reply With Quote
Old 29 May 2019, 18:48   #2
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
Yes... Craftinsure online have added that very extension to my smallcraft policy upon request. They will do it for short periods too but best value was adding to yearly policy for an extra £28 on a £50 policy. I'm happy with that.

It excludes Nov-March which suits my use.
__________________
Fenlander is offline   Reply With Quote
Old 29 May 2019, 19:08   #3
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Fenlander, thanks. From your details it looks as if your boat is a bit bigger than mine if it's a 3.8. Mine is 3.0. The person I talked to - can't remember which company - said they wanted it kept ashore because of its size, i.e. small size.
I'll try Craftinsure - might be better to wait till tomorrow and speak to a human there!
Regards from Terry.
__________________
Elcaro is offline   Reply With Quote
Old 29 May 2019, 19:13   #4
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
Email is good for them too... usually a quick and personal response. They are very straightforward to deal with.
__________________
Fenlander is offline   Reply With Quote
Old 29 May 2019, 22:25   #5
Member
 
Country: UK - Wales
Town: Cardiff
Length: no boat
Join Date: Aug 2014
Posts: 2,018
Check policy in detail, heard some interesting things about craft insure...
__________________
HDAV is offline   Reply With Quote
Old 29 May 2019, 22:41   #6
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
>>>heard some interesting things about craft insure...

As in???
__________________
Fenlander is offline   Reply With Quote
Old 29 May 2019, 23:05   #7
Member
 
jambo's Avatar
 
Country: UK - Scotland
Town: Girvan & Tayvallich
Boat name: Breawatch
Make: Ribcraft
Length: 5m +
Engine: Mercury 150 F/stroke
MMSI: ex directory!!
Join Date: Sep 2008
Posts: 6,203
RIBase
Quote:
Originally Posted by Fenlander View Post
>>>heard some interesting things about craft insure...

As in???


Don’t really know David but I have herd that it’s something to do with the way they calculate the value in your claim. I’m sure there’s a mention in another thread.
__________________
jambo
'Carpe Diem'
Member of the ebay Blue RIB cover club
Member of SABS ( Scottish West Division)
jambo is offline   Reply With Quote
Old 30 May 2019, 03:37   #8
Member
 
Country: UK - Scotland
Town: north ayrshire
Boat name: charlie girl
Make: S/R5.4/regal3760
Length: 10m +
Engine: Suzukidf70 2x6lp 315
Join Date: Jul 2009
Posts: 3,716
We insure 4 boats in our family and have done for 15 years ish. In that time we have made 3 claims, 2 in excess of £10k and one for my daughters sailing dinghy which should have been a total loss about 2.5k worth but craftinsure worked with us so the boat was repairable (and better condition than pre accident) all 3 claims were easy to submit and settled very reasonably
There is no problem with craftinsure's claims procedure
__________________
beamishken is offline   Reply With Quote
Old 30 May 2019, 07:34   #9
Member
 
Country: UK - Wales
Town: Cardiff
Length: no boat
Join Date: Aug 2014
Posts: 2,018
Quote:
Originally Posted by jambo View Post
Don’t really know David but I have herd that it’s something to do with the way they calculate the value in your claim. I’m sure there’s a mention in another thread.
That’s what I had read, particularly when it came to valuing outboards. As with insurance the full document needs to be read and understood
__________________
HDAV is offline   Reply With Quote
Old 30 May 2019, 08:29   #10
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
Oh they are very straightforward re OBs. On my smallcraft policy it's the new replacement price less 10% per year of age down to set deduction of 70% at 7yrs then it stays at that.

If my year old 10hp OB was stolen I'd be happy with that... a 20% deduction at two years old for my Suzuki 20hp I sold at that age would be more than I got for a trade in. So for new or newish smaller 4-stroke OBs it appears to work out near enough... well it does for me.

It might make you cough though if you'd paid top money for a 2006 15hp 2-stroke which now would be paid out at its fixed bottom value of £750. But in a way I can understand they wouldn't support the *overpaying* we all do if buying a 15hp 2-stroke around 15yrs old for £1250... overpaying I'd happily do if I wanted one tomorrow and found a minter.... but related to a new/nearly new 15hp those used prices make no sense.

I have no idea how it works out for larger OBs.

What I like about them is that it is so easy online and they are upfront about everything *before* you buy... for example as you input the basic details online it then comes up with a link to a sample policy for your boat type so you can read mooring restrictions, maximum speed allowed and outboard payout scales and all the other elements that matter.
__________________
Fenlander is offline   Reply With Quote
Old 30 May 2019, 09:38   #11
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Hi all.
Fenlander, All, yes just heard back from my insurers saying because of the size of the boat they won't offer cover for it to stay afloat. This is the same story I've been getting from other insurers.
Don't know about boat insurance but in other spheres I get the impression there are a number of "insurance companies" but they all go back to a small number of underwriters. In the present situation of late-stage monopoly capitalism I would guess about two underwriters (going down to only one would make it a bit too obvious ....). But I digress comrades lol.
So I'll try craftinsure but I fear I'll get the same answer there.


What I totally don't understand is the presence of a couple of dozen boats similar to mine or even smaller moored to those pontoons, many with nice outboards. I could see you might just take a punt on a little SIB, but the engine too?


Weird.


I shall report back after contacting Craftinsure.



Regards from Terry.
__________________
Elcaro is offline   Reply With Quote
Old 30 May 2019, 10:08   #12
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
Be interesting to hear how you get on. Craftinsure say they are a privately owned underwriting company backed by Zurich.
__________________
Fenlander is offline   Reply With Quote
Old 30 May 2019, 21:10   #13
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Fenlander, yeah I spoke to Craftinsure by phone and gave them my details for a quote.The person I spoke to said they'd be back within one working day. I'll let you know.
- Terry.
__________________
Elcaro is offline   Reply With Quote
Old 31 May 2019, 12:01   #14
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Ah still waiting to hear ....


- Terry.
__________________
Elcaro is offline   Reply With Quote
Old 01 June 2019, 07:48   #15
RIBnet admin team
 
Poly's Avatar
 
Country: UK - Scotland
Boat name: imposter
Make: FunYak
Length: 3m +
Engine: Tohatsu 30HP
MMSI: 235089819
Join Date: Sep 2005
Posts: 11,622
insurance

Eclaro, it may well be that those other boats are not covered - possibly the owner hasn’t read the policy. I wouldn’t be surprised if some only have 3rd party cover, or no policy at all. Alternatively you might be able to cover it under a “rib” policy but it will cost you at least double what a sib policy would.

If you don’t mind paying then give John Friendship (member on here with that name) at Alan Thomas Insurers a call. He’s done some special things for me in the past like covering multiple craft on one policy, adding ability to keep on anchor overnight etc. BUT that won’t be the cheapest policy on the market.
__________________
Poly is offline   Reply With Quote
Old 01 June 2019, 09:03   #16
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Hi Poly, thanks for your advice.
Hmm not heard back from Craftinsure but then if the answer is no I could imagine it not being worth anybody's while there to tell me, so I'm not holding my breath!
Actually I'm not at all happy that my current insurer has me in the right category in any case. I took this policy out years ago on a Wayfarer dinghy, then sold that and bought the SIB, and I/they simply changed the boat on the same policy. For example it's covered for racing! Don't know what I'd be racing, in a 3.0 meter SIB with a 2.5 engine!
So a fresh start might be a good idea anyway. Don't know if I'd get any refund though, have to check.
- Terry.
__________________
Elcaro is offline   Reply With Quote
Old 01 June 2019, 09:48   #17
Member
 
Country: UK - England
Town: Cambridgeshire
Boat name: Nimrod II
Make: Aerotec 380
Length: 3m +
Engine: Yam 15 Tohatsu 9.8
Join Date: Nov 2007
Posts: 8,264
>>>Hmm not heard back from Craftinsure

They offer a phone number so should deal with phone enquiries... however I always use email and looking back their response time has been about two hours to any query.
__________________
Fenlander is offline   Reply With Quote
Old 07 June 2019, 11:49   #18
Member
 
Country: UK - England
Length: 3m +
Join Date: Apr 2017
Posts: 64
insurance

Hi all, sorry for delay I got side-tracked into some other stuff. (painting house.)


Curtis Marine Insurance came back with a quote which I think I will take, As far as I can see I'll get a pro-rata refund from the current insurer.


- Terry.
__________________
Elcaro is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




All times are GMT. The time now is 04:08.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.