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Posted

Hi

 

What insurance companies are people using to insure their boat?

 

Mine is Towergate 

 

I plan to ask for a quote to see if they are more competitive than Towergate. 

 

Thanks in advance

Posted

A lot depends on what you want, and I suspect "you get what you pay for" is probably true. Trouble is you don't know what youv'e got till you try to make a claim.

How the company will value your boat should you suffer a major loss is a big factor.

 

Last year I moved from Towergate to Velos. Velos are not one of the "big names" but are a specialist broker usually doing "marine trades" insurance. If you are in a marina then they probably insure your marina. They also do boat insurance.

Posted

I am insured with A-Plan, who are mainly involved in offshore craft, but their price and service has been good. No claims experience to test how good they are if a problem arises.

Posted (edited)

Craftinsure, premium this year was £196.56 for a 57fter built in 2007

 

Just checked emails, last year was £216.22 with the same details/value of boat

 

 

Edited by Hudds Lad
more info
Posted
2 minutes ago, Alan de Enfield said:

Mine has gone down again this year. (CraftInsure)

Just received my renewal from Craftinsure. Same premium as previous 2 years.

Posted
21 minutes ago, pearley said:

Just received my renewal from Craftinsure. Same premium as previous 2 years.

Ditto 👍

Posted

Haven Knox-Johnston £187.  Policy looks good, though I’ve never needed to claim so far. And no need for a survey for a few more years on my 1989 boat. 
 

Posted
35 minutes ago, Bob Chamberlain said:

Haven Knox-Johnston  Really good to deal with

 

Have you claimed from them though?

 

Most, if not all insurance companies are 'really good to deal with' when they are taking your premium off you.

  • 6 months later...
Posted

Has everyone read this week Boaters Update from CRT?  A very interesting topic of people being under insured. 

 

This is the message:

The importance of boat insurance small print

I’m sure we’ve all done it at one point or another. You get handed what feels like War and Peace to sign and skim the small print before adding your signature. While it would be great for us all to have access to a contracts lawyer to pick over the detail, we generally take the path of least resistance and sign.

 

Most of the time this act of abandonment doesn’t come back to bite us but River Canal Rescue, the breakdown and emergency assistance firm, suggests that boaters might want to take more care when it comes to insuring their boat.

 

It is calling for boaters to check their Terms & Conditions if they have a third-party insurance policy, as many will leave them unable to recover costs for a vessel refloat, removal and pollution management if their boat sinks.

 

RCR says it’s aware of a number of insurance companies that are capitalising on the demand for cheap policies by modifying their terms & conditions, including removing some common third-party risks or adding them as optional extras.

 

This, says managing director, Stephanie Horton, is causing major problems for owners, who due to unclear Policy Information Documents, are unaware they’ll be left to foot the bill for vessel refloat, pollution management and environmental damage claims, should their vessel sink.

 

“While most third-party policies will support ‘salvage’ – vessel sinking – claims, as there’s a risk you may cause damage to the environment and other vessels, do not take this for granted. Boat age is another issue; although a standard policy covers specific age-ranges, insurers can exclude certain vessels, or will only insure with a survey, not a BSS certificate, so it’s important to check.” RCR is also concerned about claims handling, saying a number of insurers fail to appreciate boaters’ circumstances or support them during what is usually a very traumatic event.

 

Stephanie continues: “The emphasis is generally on claimants to limit further damage, organise estimates, report on what’s happening and pay for the work. Most insurers don’t take into account if you’re on holiday, you cannot progress the claim as you would if at home, and if you’re a liveaboard, and have just lost everything including your bank cards, phone and personal possessions, you’re not in a position to take any of the above actions.

 

“Before buying insurance, check the policy exclusions and optional extras, and ask how your claim will be processed if your vessel sinks or is at risk of sinking - is there a 24 hour helpline and online support?”

 

To help boaters navigate third-party policies and claims handling procedures, RCR has compiled two insurer comparison tables. Where possible its team checked all available policy documents, but this may not cover everything, so use only as a guide. Similarly, the claims handling data is based on general claims, and each case may be different.

 

RCR and its subsidiary, Canal Contracting, report that they respond to hundreds of incidents resulting in insurance claims every year and regularly witness insurance policies failing to meet customer expectations and variations in insurer claims handling. Its Incident Care team helps boaters manage insurance claims and reduce risks following an emergency – call 01785 785680 to find out more.

 

The attachment RCR findings.

Screenshot_20231118-231141.png

  • Greenie 1
  • 7 months later...
Posted
On 03/05/2023 at 15:09, Jak said:

Haven Knox-Johnston £187.  Policy looks good, though I’ve never needed to claim so far. And no need for a survey for a few more years on my 1989 boat.

 

On 03/05/2023 at 16:11, Bob Chamberlain said:

Haven Knox-Johnston  Really good to deal with

 

On 03/05/2023 at 16:48, Guest said:

 

Have you claimed from them though?

 

Most, if not all insurance companies are 'really good to deal with' when they are taking your premium off you.

It's that time of year again, so I was looking for ideas and found this thread. I've been with Haven Knox-Johnston for the last 3 years, after Saga put me with them when Saga stopped insuring boats.

 

No, they don't ask for a survey (at least, they've never asked me for one). Yes, they are cheaper than most others. BUT, when I submtted a claim to them last September, their opening gambit was, 'You're not covered for that event'.

 

Several emails, and an official complaint, later, they agreed I was covered, but since then they have been putting me through the wringer, trying to knock the settlement figure down to 50% of the claim. I have submitted one complaint to the Financial Ombudsman Service already, and am about to submit another.

 

Caveat Emptor

Posted
21 minutes ago, Paladine said:

 

 

It's that time of year again, so I was looking for ideas and found this thread. I've been with Haven Knox-Johnston for the last 3 years, after Saga put me with them when Saga stopped insuring boats.

 

No, they don't ask for a survey (at least, they've never asked me for one). Yes, they are cheaper than most others. BUT, when I submtted a claim to them last September, their opening gambit was, 'You're not covered for that event'.

 

Several emails, and an official complaint, later, they agreed I was covered, but since then they have been putting me through the wringer, trying to knock the settlement figure down to 50% of the claim. I have submitted one complaint to the Financial Ombudsman Service already, and am about to submit another.

 

Caveat Emptor

Its not possible without further detail (which you probably do not wish to discuss) to judge whether any other insurer would act differently regarding  the 50% . But no doubt you think it is not reasonable.

Good luck with your claim.

 

Posted
1 minute ago, Momac said:

Its not possible without further detail (which you probably do not wish to discuss) to judge whether any other insurer would act differently regarding  the 50% . But no doubt you think it is not reasonable.

Good luck with your claim.

 

Even if I wished to discuss it, I would have to provide great detail, photos and a copy of the repairer's invoice in order to explain what's happened, and there would be some who agreed with me and some who didn't. But it gives you some idea of their mind-set when they initially told me the event wasn't covered. Had I not been prepared to fight them, they would simply have dismissed my claim, out-of-hand. Unethical is a word some might use to describe them.

 

Thank you for your good wishes.

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