RIB Insurance

[Jeff]

I have been with Porthcawl under an 'agreed value' policy with NU/Aviva since 2000. In 2005 I damaged the hull resulting in a 'write off' - NU EIS paid out un full very quickly. The premium isnt cheap but faced with that extent of damage you really do want good support and resolution
Not something I want to repeat though. I prefer to pay the premium and never claim.
As solent spence says - make a detailed inventory of all the elements inc personal possesions, electronics etc for inclusion on the various sections of the form. My many questions around 'in use' terms, trailering, and moorings etc were clearly answered.
Jeff

[MustRib]

Originally Posted by solent spence

What do you mean?

What I was conjecturing, was that when the MAIB report into the Milly tragedy in Padstow is released, I expect there will be some bad Rib related press, and the Red Tops jumping on the training/kill cord/legislation/compulsory licensing angles, which just maybe.....will have some impact on insurance prices for similar craft.

[solent spence]

MustRib, Ok but I doubt this will affect boat/RIB insurance premiums because the marketplace is highly competitive and one incident (albeit it tragic and high profile) will not bump up renewal costs.

[Ovey]

Thanks for the advice solentspence - some good tips there.

The quote (and policy wording) from Porthcawl does seem to be pretty good, and cover everything I would expect to be covered. Even exceptions, and what isn't covered is clearly laid out. It isn't the cheapest quote, but certainly isn't the most expensive either. I think "top end of the middle priced quotes" is a good summation in terms of price. And clear "Agreed Price" description is good too.

Good to hear that people have had good experiences with them too (Jeff for one).

Thanks everyone.

[MustRib]

I hope your right.
Maybe it may sharpen discounts for training or something.
I just have a feeling that there will be some tangible fall out from the incident.

Originally Posted by solent spence

MustRib, Ok but I doubt this will affect boat/RIB insurance premiums because the marketplace is highly competitive and one incident (albeit it tragic and high profile) will not bump up renewal costs.

[Ovey]

I just took the Porthcawl Insurance. They were helpful and friendly on the phone, and sound as though they know what they're on about! (Which always helps)!

The quote was pretty reasonable and gives an agreed value for everything except the engine, which will be market value in the event of a claim. (I believe most, if not all policies have this).

It covers everything you'd expect including trailering, launching, recovering, storage, underwater fittings, electronics, legal expenses and accidental damage, etc, etc.

Let's just hope I never need to use it.

[Festinghouse]

i personally wont go anywhere near navigators and general. was with them for a few years,
and came to the conclusion that they couldnt organize a piss up in a brewery. i kept getting renewals through for varying amounts, different policy schedules with incorrect details on them...
when i tried to insure my current boat i emailed them all the details required, i then got two separate replies - one was an email stating quite abruptly that they 'have a policy of not insuring tornado ribs' and the other was a phone call offering me cover! this phone call was soon ended when i was told that no matter what i had spent on refitting it, they would only ever pay out what i had paid for the boat in the first place!
a phone call to curtis marine solved things very quickly, all itemised with an agreed value on the understanding that i could provide receipts for all items used in the refit.
thumbs up to curtis marine who are always helpful (though ive yet to make a claim!) and who do ring you back when they say they will.