Insurance from GJW Direct - Large Increase at renewal

[alan_fincher]

One of our 1936 boats has just had its insurance come up for renewal.

The premium increase was 25%, which, even in these troubled times, seemed a lot to me.  However I rang GJW, and they were not prepared to haggle.

 

Then I noticed stuff in the renewal letter saying that a boat berthed in a recognised marina now gets a 10% discount.  I rang GJW  again, who insisted because the policy declares a marina name that the discount has already been taken off the renewal figure.  In real terms then, that means the renewal is effectively much higher than what you get if you just compare last years renewal price to this years.

 

So I'm slightly disappointed to have had to pay a lot more for a "free" upgrade to my cover.

Has anybody else encountered similar, please?

.... And please, only suggest alternative insurers, if you know for certain that they offer a policy that will cover an 86 year old boat, (most will not).

[rusty69]

Ours is a 1980's era boat, so perhaps not comparable to your policy. The premium we paid this year is the same as we paid last year.

 

I too noticed the discount on offer, which I am not sure was there in previous years. When I questioned it, I was told that the discount had already been applied. I assume, that as it wasn't present previously (unless I missed it in the small print), the new premium was actually a 10% increase from last year.

[GUMPY]

 

My 2020/21 was £183

2022/23 £168

Both with GJW

Can't find last year's.

[Big Bob W]

We are with GJW:

August 2021    £160.63

August 2022    £150.00

 

Edited November 23, 2022 by Big Bob W

[alan_fincher]

6 hours ago, Loddon said:

 

My 2020/21 was £183

2022/23 £168

Both with GJW

Can't find last year's.

 

16 minutes ago, Big Bob W said:

We are with GJW:

August 2021    £160.63

August 2022    £150.00

 

 

Looks like they have put ours up, so yours can go down!  😄

 

I'm rather surprised how much more it seems to be to insure an historic boat rather than something more modern. Our renewal quote is £290.

[alias]

17 minutes ago, alan_fincher said:

 

 

Looks like they have put ours up, so yours can go down!  😄

 

I'm rather surprised how much more it seems to be to insure an historic boat rather than something more modern. Our renewal quote is £290.

 

If, as you suggested, few companies will provide cover for historic boats they may not feel the need to give low quotes as they can be confident they'll get the business.  

[GUMPY]

53 minutes ago, alan_fincher said:

 

 

Looks like they have put ours up, so yours can go down!  😄

 

I'm rather surprised how much more it seems to be to insure an historic boat rather than something more modern. Our renewal quote is £290.

A few years ago mine was up at that level when I had Parglena, changed the type of policy with them and it dropped.

A lot depends on value my  total value  is only £55k up from £51k last year. May be more next year after the survey and valuation.