Bluewater boat insurance

[alexhibbert]

Hi there,

Does anyone have any experience regarding getting offshore (North Sea, Atlantic etc) insurance for motor boats? Third party at least would be fine, as the value of the boat isn't high (a well-converted and upgraded TELB lifeboat). The problem I've found so far is that the value of the boat is far too low (sub £10k) so they won't consider, or that they just won't do any offshore cover for a 7.5m motorboat.

Any ideas? I want to avoid a serious trip without third party cover - it's more about being responsible than protecting my property/investment.

Craftinsure have been great for coastal coverage, but it's totally outside of their remit.

 

[peteK]

How will you carry enough fuel to go offshore in a 7.5 metre boat.

 

[alexhibbert]

Long range internal diesel tanks.

 

[[70521]]

Email/Telephone all of the big companies, either they will be interested or know somebody who will be.

 

[Sandyshore]

As mentioned by a number on these forums the Navigators and General appear to have many outlets and one of the big companies who use them might assist.
Go direct to Zurich who own Navigators and they might be able point you in the right direction especially as a policy holder through Craftinsure.

 

[alexhibbert]

Email/Telephone all of the big companies, either they will be interested or know somebody who will be.

Thanks - this is what I've done but it's where I'm getting very generic refusals due to broad reasons - not valuable enough, or no bluewater. Hence I'm asking here about perhaps small specialist brokers I'm not aware of.

 

[alexhibbert]

As mentioned by a number on these forums the Navigators and General appear to have many outlets and one of the big companies who use them might assist.
Go direct to Zurich who own Navigators and they might be able point you in the right direction especially as a policy holder through Craftinsure.

Thanks - will do.

 

[duncan99210]

If you’re content with third party cover, then the value of the boat is irrelevant. Much more likely is the fact that it’s a relatively small boat which you’re proposing to take further offshore than the insurers are prepared to cover, even as a third party risk.
You might try approaching Trafford’s: they operate through Lloyds and may be more flexible than some of the bigger players. Their marine page is here Pleasurecraft – Marine & Water Craft Insurance Services, Bedfordshire. I’ve insured through them for getting on for 20 years, found them to be good value for money and easy to talk to.

 

[alexhibbert]

Thanks Duncan that's helpful. My preference would be for fully comp, but I was considering third party only as it was so tricky to dodge underwriter rejections. Contents of the boat could be insured elsewhere, leaving just the hull at risk.

Yes, the length of the boat could cause concern (despite the boat being fundamentally designed for safety on an ocean), but that's not the reason I've been given so far. It's the low value seemingly, meaning the premium wouldn't be high enough to justify the risk. I asked if there was a base premium that we could meet (i.e. overvalue the boat) but that was 'computer says no'.