Residential Boat Insurance

[Scotty]

I'll soon be buying a boat and living onboard.

 

Now if I had a house i'd have buildings & contents insurance. My boat and it's contents will be everything I own, so I want to know that if I lose it all my insurance will replace the boat and it's contents

 

It seems that most policies are designed for recreational craft and most are only insuring against the depreciated value of the vessel boat.

 

 

I've found Euromarine Insurance and they have what seems to be ideal:

 

Norwich Union Sailplan Policy

Euromarine's Norwich Union Sailplan Policy is a traditional indemnity based contract.

Insurers will therefore place you in the same position as prior to loss.

The contract is based on the price paid for the vessel or a surveyors valuation

which becomes the agreed value in the policy.

 

This policy has the benefit that Insurers will pay out on this amount and will

NOT make deductions for depreciation, inflation or currency fluctuation except,

in some cases specified in the policy such as wear and tear on machinery and mast,

spars and rigging, where up to one third will be deducted.

 

The Norwich Union policy will suit customers who wish to know EXACTLY what they

will be paid out prior to loss. The only drawback is that it can be more expensive

than other types of cover.

 

As a seperate policy they also provide Home Contents Insurance on residential vessels,

offering 'new for old' cover and special features such as accommodation cover

 

 

While i'm waiting to hear back from Euromarine Insurance,

i'll like to hear your opinions as lots of you areadly liveaboard.

 

Anybody used Euromarine? And who else offers a similar level of cover?

 

 

 

Scotty

[Lady Muck]

We're with Mardon - as well as insuring the vessel, it also covers our contents incl. for business use (house insurance didn't and we had to have a seperate policy and it also covers our bikes and stuff like that.

[David Schweizer]

We're with Mardon - as well as insuring the vessel, it also covers our contents incl. for business use (house insurance didn't and we had to have a seperate policy and it also covers our bikes and stuff like that.

Yes Try Mardon, but do it through Michael Stimpson, he will talk you through your requirements, and unlike some insurers, will actually understand your needs.

[Scotty]

Ok thanks for that, i've emailed Michael Stimpson with some of my requirements.

 

 

 

Scott