Insurance time prices?

[CLAN1]

Hi, our insurance is due been quoted £207 we have a 48' constant cruising,living on board, marina for winter, 6 years no claim, full comp.can anyone better that? Getting confused with the different companies, any suggestions for companies?

[Up-Side-Down]

18 minutes ago, CLAN1 said:

Hi, our insurance is due been quoted £207 we have a 48' constant cruising,living on board, marina for winter, 6 years no claim, full comp.can anyone better that? Getting confused with the different companies, any suggestions for companies?

If I add wee bit to take account of my boat being 59ft, then I'm paying a very similar sum and my circumstances are pretty much the same. I believe £10,000 is allocated to cover personal effects.

[mrsmelly]

24 minutes ago, CLAN1 said:

Hi, our insurance is due been quoted £207 we have a 48' constant cruising,living on board, marina for winter, 6 years no claim, full comp.can anyone better that? Getting confused with the different companies, any suggestions for companies?

It will depend on exactly what cover you have???? What is contents covered? What is Excess? What is boat valued at? Any prior claims? and much more. Mine was renewed last week at 187.50 for 60k value 68 foot liveaboard. I looked online and was offered one policy for 40 quid less BUT when I looked into it the excess was 400 quid whereas mine is 100 quid and the rest of the cover was sub standard in parts. You can deffo get it for less than your price but do you realy want to???

[CLAN1]

1 hour ago, mrsmelly said:

It will depend on exactly what cover you have???? What is contents covered? What is Excess? What is boat valued at? Any prior claims? and much more. Mine was renewed last week at 187.50 for 60k value 68 foot liveaboard. I looked online and was offered one policy for 40 quid less BUT when I looked into it the excess was 400 quid whereas mine is 100 quid and the rest of the cover was sub standard in parts. You can deffo get it for less than your price but do you realy want to???

Hi who is it with? Cheers

[mrsmelly]

3 hours ago, CLAN1 said:

Hi who is it with? Cheers

GJW

[Richard10002]

I’m with GJW aswell. £26000 value plus about £3000 of contents. I’ve paid between about £100 and £140 over the past 8 years with them. It actually went down this year.

[Momac]

My boat is  sea boat. All risks insurance premiums are certainly related to the value of the boat rather than length.

Is the same true of narrowboats ?

 

[Cheshire cat]

£4.00 a week and you're moaning???

[David Mack]

6 hours ago, CLAN1 said:

Hi, our insurance is due been quoted £207 we have a 48' constant cruising,living on board, marina for winter, 6 years no claim, full comp.can anyone better that? 

Making it much cheaper than the cost of the licence, moorings, diesel used over the year....

Any saving you get on that figure will probably pay for less than one beer a month.

[Richard10002]

20 minutes ago, Cheshire cat said:

£4.00 a week and you're moaning???

I didn’t sense “moaning”, merely “asking  

[dmr]

Its not possible to just compare prices as insurance varies so much. Ive just renewed mine and asked a lot of questions.

Just one example, contents might be "new for old" or "market value" and if you have a laptop or phone that is three years old its market value is close to zero.....but laptops and phoned are not even included in contents on many policies.

 

and ....if you value your boat at £60,000 and it catches fire do you expect the insurer to pay £60,000?   That's most likely No unless you have a recent professional valuation......then its still probably No.

 

If you find two companies offering similar levels of cover you will likely find the costs are similar...unless one is "trying it on".

 

.................Dave

[MartinC]

19 hours ago, dmr said:

 

 

and ....if you value your boat at £60,000 and it catches fire do you expect the insurer to pay £60,000?   That's most likely No unless you have a recent professional valuation......then its still probably No.

 

 

This illustrates why you need to consider things other than price.

 

Traditionally marine insurance policies for craft were written on an Agreed Value basis to avoid this sort of problem. In the last few years some, but not all, marine insurers have moved away from this and amended their policy wording to pay market value. There are still marine insurers providing Agreed Value policies. 

[dmr]

9 minutes ago, MartinC said:

This illustrates why you need to consider things other than price.

 

Traditionally marine insurance policies for craft were written on an Agreed Value basis to avoid this sort of problem. In the last few years some, but not all, marine insurers have moved away from this and amended their policy wording to pay market value. There are still marine insurers providing Agreed Value policies. 

Agreed value is very difficult to get and costs a lot more.  I wanted agreed value and we are also roving traders , we don't need trading cover, we get that as a separate policy, but many insurers still see us as a commercial boat. I only found two companies who could provide cover. Euromarine do it though their contents cover is not brilliant. Towergate also did (after much extended negotiation), but will want a full out of water survey/valuation when the boat is 20 years old (next year). Towergate will also provide new for old cover on laptops and phones etc but the price is daunting.

 

...................Dave

[Ex Brummie]

On ‎14‎/‎03‎/‎2020 at 18:33, MartynG said:

My boat is  sea boat. All risks insurance premiums are certainly related to the value of the boat rather than length.

Is the same true of narrowboats ?

 

The big variable with Narrowboats  is what is declared as contents.

[Movin' on]

Last time I did a real test "craft-insure" came out on top may not be the case now though - only online so that might be an issue for you

Edited March 16, 2020 by Halsey