Rib insurance... How much ??

Scotty · 16 April 2005, 16:17

I have been quoted 490 euro for insurance for the rib

Three million 3rd party, 2380 euro underwater machinery cover and an excess of 350 euro on the hull. How does this sound to you UK guys ? Or have the Irish guy's any input ?

Scotty · 16 April 2005, 19:45

21 feckin views and not one reply by 20.44 ! What gives ? Is insurance a secret in the UK ?

Tim M · 16 April 2005, 20:45

I got a quick quote for you, based on your RIB being worth £20k, with £250 excess etc etc. £376 I belive it was. Who do you use over there?

Tim M · 16 April 2005, 20:57

Hang on, your an insurance broker, surly you must be able to find yourself a good deal!

Scotty · 16 April 2005, 21:04

Quote:

Originally Posted by Tim M

Hang on, your an insurance broker, surly you must be able to find yourself a good deal!

I'm only licensed to sell life and investment products

.The quote I got was from an Irish marine broker but insured with "Groves John & Westrup (Bordereau)" whoever they are ! Value of my rib =20,000 euro.

TIM · 17 April 2005, 07:22

we use to be with them on the Hysucat and it was €635

Just got the Redbay insured , faster boat and twice the value ofor €475 with Haven Knox Johnson ... through Aqua Broker in Galway

inc luding underwater cover , all water toys etc .... €500 excess, no limit on underwater cover

Scotty · 17 April 2005, 08:09

Thanks Tim. They were to come back to me after the boat show buyt never did. I will chase them tomorrow.

swginn · 17 April 2005, 15:40

Scotty, Have the same setup as yourself (6m/150 Optimax). We insure ours with Euromarine (Norwich Union) for €475. Includes all year round cover and underwater damage cover up to €10,000. Total insured value of RIB & tender: €36,000

IanE · 18 April 2005, 22:49

I'm with euromarine too - similar to Steve's.

What did Allianz quote?? I thought they were pushing Marine at the Boat Show???

Ian

Scotty · 19 April 2005, 08:39

Quote:

Originally Posted by IanE

I'm with euromarine too - similar to Steve's.

What did Allianz quote?? I thought they were pushing Marine at the Boat Show???

Ian

Allianz were the main sponsor of the Irish boat show.... BUT they dont insure ribs

Tossers It's like having a dog and doing the barking yourself.

CJL · 19 April 2005, 09:02

Quote:

Originally Posted by Scotty

21 feckin views and not one reply by 20.44 ! What gives ? Is insurance a secret in the UK ?

Its another thread about insurance thats why!

Scotty · 19 April 2005, 09:13

Quote:

Originally Posted by CJL

Its another thread about insurance thats why!

Yea but my abuse to the viewers worked

CJL · 19 April 2005, 09:38

Very true!!

lc0021 · 19 April 2005, 11:13

Quote:

Originally Posted by Scotty

Allianz were the main sponsor of the Irish boat show.... BUT they dont insure ribs

Tossers It's like having a dog and doing the barking yourself.

They gave me a quote after the boat show... it was double the Euromarine quote... like 800 euro vs 370...

Powerboat · 19 April 2005, 19:15

I would have expected about €300 !

Allianz do insure RIBs here in Ireland but they are insisting on ISA Level 2. They have been referring quite a few people to us for training lately.

Give me a shout if you like on 087 2 111 222. I can refer you to a few brokers over here who specialise in Marine Insurance,

Best wishes,

Stuart

Scotty · 19 April 2005, 19:18

Quote:

Originally Posted by Powerboat

I would have expected about €300 !

Allianz do insure RIBs here in Ireland but they are insisting on ISA Level 2. They have been referring quite a few people to us for training lately.

TOSSERS !!! (Allianz not you) I will call them again. I am level 2... Your loyal staff trained me

Powerboat · 19 April 2005, 19:20

I know !!!

That's why I'm still minding you !!!!

Stuart

Powerboat · 19 April 2005, 19:41

Just noticed that Allianz Ireland are actually advertising RIB Insurance on www.rib.net home page !!

Stuart

IanE · 19 April 2005, 23:24

Maybe you should branch out into Marine Insurance....you could give yourself a substantial discount

Powerboat · 20 April 2005, 17:42

Hi Luke,

I made a few calls today and by coincidence we have just taken delivery of a new Parker Ally Cat with full bells and whistles as an Advanced Training Boat for the School - worth €45 K.

Our broker who is as shocked as I am

came to me today with a quote for €1400 through Allianz who we have been with for 10 years with no claims!!!!!

He explained that a private user would be paying more and that the low cost reflected our " extensive experience " !!!!!

I have asked our broker to come back with a different quote !!

I called Allianz direct today . It took 20 minutes to get through to be told that there was no marine guy there and that they would call me back at 11.

No call back so I rang 4 times this afternoon before getting through at 4 .30 after 20 mins on hold.

The lady who answered said we dont insure boats over 17 knots.

But says I, You refer people to us for training before you will insure them and you have an ad for RIB insurance ( a google ad) on RIB.Net. "Hold" says she ........and disappears Then I got cut off after 5 minutes....

Maybe they will call me back tomorrow !!

In the meantime I now welcome advice on UK Insurance or feedback from the other Irish guys here who I felt were being ripped off at €500 quotes !!

I do know that clients were insuring new €50k RIBs last year for €300. My feeling is that the predominant factor is the value rather than the power of the boat...However, that said, I know that other clients here are paying less than €500 for Shannon Cruisers worth €150 K

Looks like Fast water Craft ( a new legal definition here in Ireland since the 2004 Fast Craft Legislation arrived) are the new Pariahs, Insurance wise.

Stuart