Boat insurance

volvopaul

volvopaul

Well-Known Member
Joined
1 Apr 2007
Messages
9,065
Location
midlands
hotmail.co.uk
I have just had my renewal and as per Lanerboys post a while back I checked that I was covered from the result of electrolysis, it now appears that I am not yet last year I was. In the invitation to renew there was a separate list of amendments, yet it didn't list the fact they do not cover you in the case of electrolysis .
So in effect I'm getting less cover for the same premium as last year , which I think given the amount of coverage relating to sinking boats with failed seacocks and skin fittings is poor. The said company was involved last time I believe.

Question is where to go now and who does cover a sinking boats costs and pays out as a result of a failing valve.
For the record everything underwater related is good on my boat but I don't have an X-ray machine or crystal ball to check under the boat at this time.
I'm with GJW at present, where to go next I wonder?
 
Thanks for tip off Paul .Perhaps someone should be contacting GJW and advising them that it is likely that after a member discovering this change to the policy terms many on here will be looking elsewhere ( including myself) and hope that this may change there mind a little or is this not likely Paul?
 
Mike k said:
Thanks for tip off Paul .Perhaps someone should be contacting GJW and advising them that it is likely that after a member discovering this change to the policy terms many on here will be looking elsewhere ( including myself) and hope that this may change there mind a little or is this not likely Paul?
Click to expand...

To be fair Lanerboy found it at his renewal time last year, mine popped through the door yesterday , it was the first thing I checked on , it clearly stated that electrolysis isn't covered. I will be having a chat, meanwhile quotes are coming in from companies that do cover.
 
You might check out the thread I started on the subject, although it may cause the loss of will to live...

I moved to Pants, its more expensive but offers a much greater level of cover. Its worded in such a way that the full cost of damage is covered providing an 'event' has occurred, ie sinking, grounding, fire, collision etc. The cause of the 'event' does not have an affect on the claim. Just need the 'event' to happen. The list of 'event's is comprehensive.

Plus, they are a delight to deal with.
 
This is what GJW said to me last November:

We are aware that concern has been expressed by some of our Policyholders as to certain exclusions contained in your Policy of Insurance and we wish to put your mind at rest.

Your policy does not cover physical loss or damage to the vessel caused by “wear, tear …. corrosion …” and although similar exclusions appear in other policies in the Yacht insurance market, the precise terms vary.

It is not and has never been our intention to avoid payment of claims where “wear, tear…corrosion…” could not have been identified by proper maintenance.

You can rest assured that we would never damage our good reputation of which we are justly proud by taking unfair points against our Insured.


Kind regards


Kevin Williams
Underwriting Administrator
 
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