Best Boat Insurance?

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jimmallaga

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Hi, has anyone had experience of Traffords Ltd for boat Insurance. A friend put me on to them when I mentioned, with a groan that my policy was up for renewal again and how it had increased by a large margin with me never making a claim of any sort. He suggested Traffords so I gave them try. The premium was almost HALF my established Insurer. Which was £309 - next best £292. One of those well known companies I tried 'on-line' was over £700!! Traffords quoted £175. I have read through the Traffords Certificate of Insurance and it looks just like any other as far as I can tell. Even the excess was less than the others, and they are covered by Lloyd's underwriters like all the others. Any comments! Please note - I have no connection with Traffords or any other Insurance company.
 
Traffords

I was with them and suffered a collision. Very quick to appoint their loss adjuster who was very fair and quick to reccomend an acceptable settlement.
The underwriters were a little tardy in paying out , requiring contact via Traffords in the end. I maintained the pokicy, but like them all eventually they become uncompetitive and I have changed. Currently using Saga.
Jim
 
jimmallaga said:
Hi, has anyone had experience of Traffords Ltd for boat Insurance. A friend put me on to them when I mentioned, with a groan that my policy was up for renewal again and how it had increased by a large margin with me never making a claim of any sort. He suggested Traffords so I gave them try. The premium was almost HALF my established Insurer. Which was £309 - next best £292. One of those well known companies I tried 'on-line' was over £700!! Traffords quoted £175. I have read through the Traffords Certificate of Insurance and it looks just like any other as far as I can tell. Even the excess was less than the others, and they are covered by Lloyd's underwriters like all the others. Any comments! Please note - I have no connection with Traffords or any other Insurance company.
Click to expand...

try these
http://www.yyachtinsurance.com/OurUnderwriters.cfm
the boss is ex Pantaenius uk MD
 
Would be very wary of a low quote. In my experience the major companies all quote very similar prices for the same cover. Those who quote high either don'e want the business or are offering "better" cover which you may not need. Always difficult to get a clear view on how they deal with claims without knowing the background to the claim.
 
I've been with Traffords for several years now. I've not had to make a claim so can't comment on that aspect. They seem OK on the service side of things, no problem changing the policy for singlehanding etc. Policy terms seem to be fairly standard, I've read through and can't see any 'nasties' lurking. The best thing is that the price has stayed the same since I started with them, not creeping up year by year until it becomes untennable.
 
Insurance

jimmallaga said:
Hi, has anyone had experience of Traffords Ltd for boat Insurance. A friend put me on to them when I mentioned, with a groan that my policy was up for renewal again and how it had increased by a large margin with me never making a claim of any sort. He suggested Traffords so I gave them try. The premium was almost HALF my established Insurer. Which was £309 - next best £292. One of those well known companies I tried 'on-line' was over £700!! Traffords quoted £175. I have read through the Traffords Certificate of Insurance and it looks just like any other as far as I can tell. Even the excess was less than the others, and they are covered by Lloyd's underwriters like all the others. Any comments! Please note - I have no connection with Traffords or any other Insurance company.
Click to expand...


Whereabouts are they based?

David
 
I'm with St Margarets / Haven; I'd gained the impression they were on the pricey side but 'good cover', though have never made a claim, just going by a chums' experience with them about 25 years ago.

I decided to shop around at the last renewal, got a shock and happily signed on the line for another year with them !
 
sailorman said:
try these
http://www.yyachtinsurance.com/OurUnderwriters.cfm
the boss is ex Pantaenius uk MD
Click to expand...

After seeing this I checked out Y Insurance & GJW

GJW were the cheapest but I felt the woman on the end of the phone was too curt and not much interested beyond, read what's on the interweb, the terms are there.
Y on the other hand were extremely polite and helpful answering all my inane questions. More importantly they asked me all the questions I would expect an insurer would want to know. I explained the price issue to them and the lowered theirs and cut half the difference. So I am now with Y.

More importantly with regard to the price comparison they also wrote (I'm sure they won't mind me revealing this recommendation).

We recommend that you check that any yacht insurance policy wordings you may consider cover direct loss or damage caused by latent defect, wear and tear or mechanical breakdown resulting in FIRE, SINKING, SUBMERSION,RIGGING FAILURE, COLLISION OR STRANDING. Many policies do not cover such losses resulting from mechanical breakdown.
 
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jimmallaga said:
Hi, has anyone had experience of Traffords Ltd for boat Insurance. A friend put me on to them when I mentioned, with a groan that my policy was up for renewal again and how it had increased by a large margin with me never making a claim of any sort. He suggested Traffords so I gave them try. The premium was almost HALF my established Insurer. Which was £309 - next best £292. One of those well known companies I tried 'on-line' was over £700!! Traffords quoted £175. I have read through the Traffords Certificate of Insurance and it looks just like any other as far as I can tell. Even the excess was less than the others, and they are covered by Lloyd's underwriters like all the others. Any comments! Please note - I have no connection with Traffords or any other Insurance company.
Click to expand...

Without knowing a lot more details it is hard to comment but I just insured my boat & Yachting 24 seemed head & shoulders above the rest.
 
JIM_TEAL said:
I was with them and suffered a collision. Very quick to appoint their loss adjuster who was very fair and quick to reccomend an acceptable settlement.
The underwriters were a little tardy in paying out , requiring contact via Traffords in the end. I maintained the pokicy, but like them all eventually they become uncompetitive and I have changed. Currently using Saga.
Jim
Click to expand...
I second Saga-so long as you are 50 plus
 
Lots of insurers out there, get plenty of quotes but the comparison sites don't cover many of the brokers unlike car/ house insurance and there are so many variables.

I'm with Mercia Marine currently and I found them via their quote comparison page http://www.merciamarine.co.uk/compare_boat_insurance.aspx quite refreshing (note though it's only their prices although they say its based on live data so you get an immediate idea). Ultimately I went with them this last time round as I felt best value for my requirements but my recommendations would be;

1. Always shop around each year, renewals have a habit of creeping up!
2. Don't go for the cheapest quote otherwise you'll get what you pay for
3. Stick with a UK based insurer/ broker (I won't name them but after paying online I was then getting forwarded through to Portugal with one company I used to insure with to make a simple policy amendment)
4. Sorry but do read the small print, the cheaper policies are usually skimping on something... it just all depends if that something is something you might need!
 
Peter_Ayres said:
Lots of insurers out there, get plenty of quotes but the comparison sites don't cover many of the brokers unlike car/ house insurance and there are so many variables.

I'm with Mercia Marine currently and I found them via their quote comparison page http://www.merciamarine.co.uk/compare_boat_insurance.aspx quite refreshing (note though it's only their prices although they say its based on live data so you get an immediate idea). Ultimately I went with them this last time round as I felt best value for my requirements but my recommendations would be;

1. Always shop around each year, renewals have a habit of creeping up!
2. Don't go for the cheapest quote otherwise you'll get what you pay for
3. Stick with a UK based insurer/ broker (I won't name them but after paying online I was then getting forwarded through to Portugal with one company I used to insure with to make a simple policy amendment)
4. Sorry but do read the small print, the cheaper policies are usually skimping on something... it just all depends if that something is something you might need!
Click to expand...
I'm with mercia too, and having just made a claim they agreed to settle based on an estimate within 2 working days of submission, so I'm happy with them. I used to be with KC Powell, but he sold out to GJW, and I don't like their T&C's on towing and singlehanding, so I transferred to Mercia to stay on a quadrant underwriters policy, as an earlier claim had also been handled well.
 
alahol2 said:
I've been with Traffords for several years now. I've not had to make a claim so can't comment on that aspect. They seem OK on the service side of things, no problem changing the policy for singlehanding etc. Policy terms seem to be fairly standard, I've read through and can't see any 'nasties' lurking. The best thing is that the price has stayed the same since I started with them, not creeping up year by year until it becomes untennable.
Click to expand...

I was with Traffords until last month. No issues with the cover but they put the premium up after another 12 months No Claims!!! Saved 10% on my premium moving to Towergate (checked their cover/clauses re 'corrosion'). The lady who quoted me (Emma Jarvis) was very helpful and ensured that I got the cover I wanted. Very happy but obviously don't have personal experience of claiming (and hope that I never will...)
 
dslittle said:
I was with Traffords until last month. No issues with the cover but they put the premium up after another 12 months No Claims!!! Saved 10% on my premium moving to Towergate (checked their cover/clauses re 'corrosion'). The lady who quoted me (Emma Jarvis) was very helpful and ensured that I got the cover I wanted. Very happy but obviously don't have personal experience of claiming (and hope that I never will...)
Click to expand...
Did you do a forum search prior to parting with your premium
 
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