Boat insurance struggle

[QBhoy]

Hi
Just wondering if anyone has a lead on a boat insurance company that will insure my boat for less than the cost of the moon.
It seems that when stating the boats capable speed, only one or two insurers will touch it and at a sillly price.
If I lower the speed on a search it becomes reasonable.
I don’t want to lie about it, even if I rarely take the boat to silly speeds.
Anyone recommend an insurer with performance boats in mind.
Thanks

 

[Boat2016]

Hi
Just wondering if anyone has a lead on a boat insurance company that will insure my boat for less than the cost of the moon.
It seems that when stating the boats capable speed, only one or two insurers will touch it and at a sillly price.
If I lower the speed on a search it becomes reasonable.
I don’t want to lie about it, even if I rarely take the boat to silly speeds.
Anyone recommend an insurer with performance boats in mind.
Thanks

What boat do you have and what are the prices you class as silly ? This would give a better idea of what others can advise based on their insurance.

 

[QBhoy]

Hi
Thanks for replying.
It’s power boat and for legal reasons (haha) May or May not be knocking on the door of the UK motorway speed limit.

Thanks.

 

[oldgit]

What boat do you have and what are the prices you class as silly ? This would give a better idea of what others can advise based on their insurance.

Compared to car insurance, boat insurance seems very competitive indeed.
If you wish to keep premiums down to a minimum you will need to go on line.
Brokers have to make a profit.
Quoted two prices from the exactly same insurance company, the first and more expensive from a broker,the second and cheaper direct via internet.
The difference was probably brokers commission.Downside of dealing directly is you will have to handle any claim yourself.
Have made two claims in the past and both of the insurance companies involved paid up promptly and without fuss,both incidents were my fault.
Insurance companies were Craftinsure and SAGA.

 

[QBhoy]

Thanks oldgit. Appreciated.

 

[Portofino]

Try Coleman’s based in Poole .As well as Sunseeker they offer boat ins for all mobos .
Thinking the Suny XS range does 70 knots too .
Some Itama and Pershing knock on the door of 45 / 50 knots as do a few triple arnie sunys .So Coleman’s do fast boats .

 

[QBhoy]

Try Coleman’s based in Poole .As well as Sunseeker they offer boat ins for all mobos .
Thinking the Suny XS range does 70 knots too .
Some Itama and Pershing knock on the door of 45 / 50 knots as do a few triple arnie sunys .So Coleman’s do fast boats .

Perfect portifino. I’ll give them a ring Monday.
Thanks.

 

[jrudge]

Hi
Thanks for replying.
It’s power boat and for legal reasons (haha) May or May not be knocking on the door of the UK motorway speed limit.

Thanks.

A make and model will be far more useful for people to help you

 

[Fender!]

I had this, a number of brokers I tried wouldn’t insure anything that can go above 50knots, Alan Thomas http://www.alan-thomas-marine.co.uk no problems at all

 

[rubberduck]

Try Y yacht insurance, many here use them.

 

[Mr Googler]

Try Y yacht insurance, many here use them.

+1

 

[BruceK]

Hi
Thanks for replying.
It’s power boat and for legal reasons (haha) May or May not be knocking on the door of the UK motorway speed limit.

Thanks.

Wow!! At those speeds you are a bigger risk though. The internet has no shortage of vids of boats going those sorts of speeds catching some serious wobble and resulting injuries.

 

[QBhoy]

A make and model will be far more useful for people to help you

I had this, a number of brokers I tried wouldn’t insure anything that can go above 50knots, Alan Thomas http://www.alan-thomas-marine.co.uk no problems at all

Fender

That’s exactly the issue I have. It seems to be the show stopper at >50 knots.
Thank you so much for the lead.

 

[QBhoy]

A make and model will be far more useful for people to help you

I had this, a number of brokers I tried wouldn’t insure anything that can go above 50knots, Alan Thomas http://www.alan-thomas-marine.co.uk no problems at all

Wow!! At those speeds you are a bigger risk though. The internet has no shortage of vids of boats going those sorts of speeds catching some serious wobble and resulting injuries.

Very true Bruce K, but the increase in cost is 3, 4 and even 5 times or more, the price.

 

[QBhoy]

Guys

Thank you all so much for the opinions, help and the leads on who to try. I’ll be ringing them first thing Monday.

Thanks.

 

[MapisM]

FWIW, for third party liability only (which is mandatory, here in IT), my insurance never asked about the speed - even for my old 72mph capable Fountain.
Maybe they would have asked if I were interested in a full coverage, I'm not sure.
Though arguably also the T.P. risk might depend on speed to some extent, I reckon...

 

[Portofino]

View attachment 75375
Top speed in excess of 70 knots


Just can’t see a conversation going like this
Sunseeker CEO - “ thank you for buying one of my boats , just one thing you will be knackered trying to insure it “

Although that’s an old pic and nowadays there’s been a huge rise in the U.K. of PI claims ( personal injury ) - so those girls will play the bad back / neck card and the PI lawer will go for it .

 

[Hot Property]

View attachment 75375
Top speed in excess of 70 knots


Just can’t see a conversation going like this
Sunseeker CEO - “ thank you for buying one of my boats , just one thing you will be knackered trying to insure it “

Although that’s an old pic and nowadays there’s been a huge rise in the U.K. of PI claims ( personal injury ) - so those girls will play the bad back / neck card and the PI lawer will go for it .

I Visited Sunseekers Technical Centre last week and the identical photo is proudly displayed in their foyer. It was used in one of the Bond films but for the life of me I can't remember which one....

 

[MapisM]

And the fact that it's actually a Buzzi boat is not even mentioned, I guess...?

 

[MrB]

And the fact that it's actually a Buzzi boat is not even mentioned, I guess...?

Indeed, I believe it to be a Sunseeker XS 2000 designed by Fabrio Buzzi. I could be wrong though lol.

I was looking at them today, that's how I know....not my vast knowledge of designers lol.