Piers
Well-Known Member
In anticipation of Y hiking their prices, I've also contacted Curtis and am waiting for their quotes. We're in Guernsey and like Hurricane I was asked if we were British and if the boat was on the British register.
Big y insurance increase
- Thread starter jrudge
- Start date
Solent Sailor
Well-Known Member
Has anyone used Compare Boat Insurance (Ceta)?
Offered two MS Amlin/Haven Knox Johnson policies by them for what I anticipate will be a very competitive figure. Just reviewing the policies now - one "MS Amlin Prime" appears to be a no frills option with a higher excess.
Offered two MS Amlin/Haven Knox Johnson policies by them for what I anticipate will be a very competitive figure. Just reviewing the policies now - one "MS Amlin Prime" appears to be a no frills option with a higher excess.
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Momac
Well-Known Member
Haven KJ/Amlin's ''All Weather'' policy wording with the lowest excess of all at £150 was the lowest premium for me.
Maybe I caught them on a quiet week? We shall see if it changes next year .
Maybe I caught them on a quiet week? We shall see if it changes next year .
Piers
Well-Known Member
Just had my renewal in from Topsail, proposing N&G. With a protected NCB and excess waiver, it's 7% higher than last year, Now to investigate the terms and details as well as searching this thread for N&G comments..
Hurricane
Well-Known Member
From my point of view, the price is only one element of the consideration.
For me, the wording is the first thing to get right.
After all, there is no point having a cheap policy if it doesn't cover what you want.
That would be wasting money.
For me, the N&G Topsail policy had some nasties in the detail.
The "betterment clause" (Section 11 - paragraph 2 on the policy that Topsail sent to me) didn't really cover my dinghy.
But, I also had a big excess on the original Topsail quote of £7500 which would be doubled in the event of a grounding or hitting a submerger object:-
In fact this is the next clause following the one above.
This is the wording that was sent to me:-
Claims as a result of the Vessel striking a submerged object or grounding will be subject to double the excess shown in the Certificate of Insurance. Where Excess Waiver has been purchased, the excess is reduced to the standard excess as detailed in your Certificate of insurance.
This would have left me with a £15,000 excess if we hit a submerged object - perhaps bending a shaft or damaging a propeller.
For me, the HKJ policy seemed to have better wording without these restrictions.
And the excess offered was only £3500 although the tender excess was more (at £500 vs £150 on the N&G).
Swings and roundabouts - but for me the HJK had better "swings".
There were other issues with the value of cover but I did end up with "like for like" offers.
Remember that Curtis is just a broker.
Topsail or Curtis will probably be offering the same terms.
It is THEN that you can look at the cost savings.
The Curtis policy that I accepted ended up about £250 cheaper than any of the Topsail offerings (Topsail did offer a HKJ policy).
I think this is mainly due to the discount that Curtis were offering.
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markc
Well-Known Member
Strangely enough, the N&G policy that I was offered with the same broker had different wording to the one Hurricane was offered. I can only assume that the underwriters have different wording for different value boats - in this case Hurricane's boat will be insured for way more than mine. Thanks to this forum, I now actually read insurance policies, rather than just taking the cheapest quote - it's been a real education!
Momac
Well-Known Member
Are they not optional extras ?
jrudge
Well-Known Member
Yes.
I offered to underwrite their excess waiver policy ( I was 100% serious ) as given the cost (huge) losing money was a statistical impossibility.
petem
Well-Known Member
The last time I spoke to Topsail, they were offering an N&G policy with their own Topsail policy wording (similar to the Y policy) and also the standard N&G policy wording.
I've given up saying it but people need to understand the difference.
Hurricane
Well-Known Member
It depends what you have been offered, Pete.
IMO, the Topsail N&G wording was rubbish.
And thats what I was offered by Topsail as a replacement to my Y policy.
As I say, I went with HKJ instead because, IMO, it gave me better cover.
Portofino
Well-Known Member
Try graduating to asking the underwriters questions , direct questions “ is my boat covered if I swan ashore to a back street restaurant “ .Policy says “ all risks “ pal ?,
Anyhow I am happy with my policy now ! As in known anchorages on charts like Agay near you or under that Castle outside your marina we are covered .
As far as the Zurich replacement discretionary clause , they told me they rarely do that give you another boat , it’s more of a deterrence for “ insurance jobs “ .
Aside Itama to Baia, Magum , Pershing.....life is too short theses days
to loose sleep with what if ??
markc
Well-Known Member
Hard to imagine, but I did actually manage to ask them questions all by myself ?
Totally satisfied that the cover is what I want and need ?
Piers
Well-Known Member
...and I'll be checking the wording next week when I have some spare time. Being retired is exhausting!
Piers
Well-Known Member
Received quotes from Topsail and Curtis, both offering N&G but each with different terms.
Have emailed both asking questions....
Have emailed both asking questions....
