Boat insurance

kcrane said:
I read that as saying they don't cover the damage to a component caused by corrosion or electrolysis, so you can't claim to have a seacock replaced. BUT, if the seacock fails and results in a sinking or submersion, then they will pay out. Do others read that the same way?
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Yes I would agree that reading K. Note that they limit it to "direct", whereas with Pantaenius you are covered for "consequential damage... caused by" the failed seacock or whatever, but that is probably splitting hairs and "direct" feels ok to me

Pricing generally in boat insurance seems to be all over the place. GJW quoted me literally 1.4x Pantaenius when I got a quote in 2010 for my previous sq78
 
Y Insurance - quote

I'm just a little impressed with Y insurance. Their website works well, you ask for a quote and a person (Claire) emails you back with some sensible suggestions (like don't bother with a rough quote when I am going to need a full quote anyway within a few days)- I fill out all the details of our new boat for them to issue a full quote on Friday evening and get a full quote emailed back to me Monday morning with a personalized email from Claire. What's even more impressive is the quote is less that I am currently paying for Seabird.

They've got my business. :encouragement:
 
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Deleted User said:
To me that reads like a total contradiction

On the one hand they say

3.4 any loss, damage, liability or expense directly or indirectly arising from

and on the other hand they say

However if any of the following causes of loss results from one of the excluded causes under section 3.4 above the Insurer will pay for the resulting direct loss or damage

I don't know why they haven't just deleted clause 3.4.4 or qualified it to exclude replacement of the failed item itself

Btw I am also waiting for a Pants quote. Do you mind me asking how much more expensive your quote was? No need to quote numbers, just % to give me some idea what I can expect. Thanks
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I see your point Deleted User, and I think it's just a result of the fact these docs evolve by the addition of bits and pieces all over the place. The "however" makes sure there is no contradiction, I think. The drafting isn't very elegant, but the "However" clause broadly brings this policy (Y Insurance afaik) up to the Pantaenius level as far as fizzing seacocks etc are concerned, imho.
 
Firefly625 said:
I'm just a little impressed with Y insurance. Their website works well, you ask for a quote and a person (Claire) emails you back with some sensible suggestions (like don't bother with a rough quote when I am going to need a full quote anyway within a few days)- I fill out all the details of our new boat for them to issue a full quote on Friday evening and get a full quote emailed back to me Monday morning with a personalized email from Claire. What's even more impressive is the quote is less that I am currently paying for Seabird.

They've got my business. :encouragement:
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Yup, agreed, they are very nice indeed to deal with. But which clauses are you buying Firefly?
 
jfm said:
Yup, agreed, they are very nice indeed to deal with. But which clauses are you buying Firefly?
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I hope the right "clauses" jfm.... ???! I am busy reading through the Y Yacht Insurance Policy (1) wording as we speak. I have read and re-read point 3.4 -> and 3.4.4 corrosion and electrolysis did just give me a wobble, the "However" section made me feel slightly better... am I correct in my thinking jfm.... :eek:
 
jfm said:
Yes if you have the above "However" you're fine imho, in the "fizzed seacock" or "Seahope" scenario we discuss on here :-)
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Oh good! Thanks jfm, Thought I had dropped a clanger.

Indeed the fear of doing a "Seahope" does concentrate the mind when it comes to seacock maintenance, regular checking of seacocks and Insurance wording!!!
 
jfm said:
The drafting isn't very elegant, but the "However" clause broadly brings this policy (Y Insurance afaik) up to the Pantaenius level as far as fizzing seacocks etc are concerned, imho.
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Yep, that is the Y policy wording. Agreed, clumsy way to word it, but my interpretation is that it is a fair clause.
 
kcrane said:
Yep, that is the Y policy wording. Agreed, clumsy way to word it, but my interpretation is that it is a fair clause.
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I suspect that they've seen the standard wording that some other policies use, and had the same reaction as many on here.... and it was easier to agree some additional words with the underwriter, than change the core policy wording itself.

Another one here BTW, who finds Y insurance a pleasure to deal with. There is plenty of personalised contact, rather than standard automated proforma responses, which feels rather reassuring.
 
Phoenix of Hamble said:
I suspect that they've seen the standard wording that some other policies use, and had the same reaction as many on here.... and it was easier to agree some additional words with the underwriter, than change the core policy wording itself.

Another one here BTW, who finds Y insurance a pleasure to deal with. There is plenty of personalised contact, rather than standard automated proforma responses, which feels rather reassuring.
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Odd, I got the standard quote and no follow up call - was expecting more selling.
 
Thought I'd check with my broker as I had to contact them to change home port details, received this response.

"With regards to your question, insurers DO NOT cover part failure replacement, but do cover consequential loss following a part failure. Basically if your vessel sunk due to a sea cock failure then insurers would pay for the vessel to be repaired excluding the actual replacement part, if they feel that there is a case against the manufacturer then they may pursue them for any outlay"

So basically what was mentioned above.
Broker is Porthcawl Insurance Consultants and policy is by Allianz, not heard either mentioned in recent insurance threads, but can recommend the broker as good to deal with (no connection apart from as a customer)
 
Sishoe said:
Thought I'd check with my broker as I had to contact them to change home port details, received this response.

"With regards to your question, insurers DO NOT cover part failure replacement, but do cover consequential loss following a part failure. Basically if your vessel sunk due to a sea cock failure then insurers would pay for the vessel to be repaired excluding the actual replacement part, if they feel that there is a case against the manufacturer then they may pursue them for any outlay"

So basically what was mentioned above.
Broker is Porthcawl Insurance Consultants and policy is by Allianz, not heard either mentioned in recent insurance threads, but can recommend the broker as good to deal with (no connection apart from as a customer)
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Can you post a link to the Allianz policy wording?
 
I have today switched my insurance from Towergate Mardon/Premier to Y Insurance.

Many reasons, competitive price, nice people to deal with etc. Had 3 conversations with Barrie this morning and he was very helpful. I have seen a draft of the new policy document and it does (to my untrained eye) put the terms into simpler English. I have promised not to reveal any details of the document as it has not been finalised yet but they expect it to be operational by mid-February when my insurance begins.
 
Firefly625 said:
I'm just a little impressed with Y insurance. Their website works well, you ask for a quote and a person (Claire) emails you back with some sensible suggestions (like don't bother with a rough quote when I am going to need a full quote anyway within a few days)- I fill out all the details of our new boat for them to issue a full quote on Friday evening and get a full quote emailed back to me Monday morning with a personalized email from Claire. What's even more impressive is the quote is less that I am currently paying for Seabird.

They've got my business. :encouragement:
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Fully agree they are a pleasure to deal with.
 
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