Boat Insurance Renewal

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C08

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My boat insurance is due for renewal in a few weeks and I am not sure what to expect and I need to prepare for maybe changing insurers. My car insurance this year was £40 less than last year and 2 Dogs Insurance £400 more than last year (in their dreams).

My questions are whether premiums for boat insurances are generally up this year and by what amount. Also my boats last survey was 2007 and I am half expecting insurers (L&G) to require another insurance survey which at circa £3-400 I would rather avoid. I have the impression that some companies will now accept a self "Declaration of Seaworthyness" for low value boat (£20K) and if this is correct which companies do this?

Thanks in anticipation of good advice and info as always.
 
For what it's worth, my insurance hasn't changed in the last 6 years so there doesn't appear to be any particular 'trend'. In the past I have always had (more than) 12 months notice of requiring a survey. The insurers normally stated that they will require a survey for next years renewal on this years renewal notice, if you see what I mean.
 
Easy to get quotes. Get 3 or 4 from the big insurers using their on line forms then you will get an idea whether it is worth shopping around.
 
Tranona said:
Easy to get quotes. Get 3 or 4 from the big insurers using their on line forms then you will get an idea whether it is worth shopping around.
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I was really hoping to avoid having to do this by getting a feel whether rates had generally gone up or were static as well as getting some info on whether surveys were avoidable for low cost boats.
 
Different insurers have different rules. It may depend on the size (and age) of your particular boat. This seems to be more relevant than cost. I didn't need a survey for my Jaguar 22. Porthcawl will find a quote for you by checking with various insurers - have a look at their website http://www.porthcawl-insurance.co.uk/. My quote for my new boat was quite a bit less than my old boat, even though it's insured for more. This may partly be due to me having a few years of no claims.
 
ahabdonal said:
I was really hoping to avoid having to do this by getting a feel whether rates had generally gone up or were static as well as getting some info on whether surveys were avoidable for low cost boats.
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Why? It takes less than a minute. Have a look at the Craftinsure website. They don't ask you for your inside leg measurement to give you a price.
 
Have a look at YACHTING24 Insurance Site if your boat is a standard build not a one off and under 40 years old no survey reqd
 
jerram said:
Have a look at YACHTING24 Insurance Site if your boat is a standard build not a one off and under 40 years old no survey reqd
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That's who I used for my 1972 Vega, fully comp, no survey required, £156. They're underwritten by Pantaenius who have an excellent reputation & there's been a couple of reports of good claims handling on here. Go online for 3rd party only for about £90...
 
ahabdonal said:
I was really hoping to avoid having to do this by getting a feel whether rates had generally gone up or were static as well as getting some info on whether surveys were avoidable for low cost boats.
Click to expand...
If you have not had a quote recently, how do you know if what you are paying now is competitive. Premiums have not changed much as the third party bit is largely fixed and the rest of the premium is related to the value insured. However, that does not mean that there is not quite a bit of variation in premiums between companies for specific types of boats and different companies have different policies on surveys. So well worth shopping around.
 
Tranona said:
If you have not had a quote recently, how do you know if what you are paying now is competitive. Premiums have not changed much as the third party bit is largely fixed and the rest of the premium is related to the value insured. However, that does not mean that there is not quite a bit of variation in premiums between companies for specific types of boats and different companies have different policies on surveys. So well worth shopping around.
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Yes you are right-just being lazy!
 
When I had to insure my new to me boat I contacted the firm it was with at the time as I thought that would be the easiest route. It wasn't. They wanted ALL the work suggested (not just the minor recommendations) by the surveyor completing before they'd even consider it.
I explained we needed it insuring to compete the sale and that we were moving the yacht to have a major refit but they wouldn't budge.
Called GJW who actually listened and were considerably cheaper.
Get some quotes.
 
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