longjohnsilver
Well-Known Member
Which mag would that be?
Edward William insurance anyone?
- Thread starter richievtu
- Start date
Which mag would that be?
[70521]
Well-Known Member
What incident on the Exe?
I had an incident on the Exe and was dealt with in a very professional way.
Tranona
Well-Known Member
See post#18 which is the article I believe he was referring to. He has raised this before. The article was in either PBO or YM about 3 years ago.
It was a warning of the dangers of not insuring your boat against all risks. The poster seems to believe that insurers should pay out to third parties even when their insured is not responsible for the damage. Even though I have explained (as did the article) why this is not the case, he seems to have difficulty in accepting it.
JumbleDuck
Well-Known Member
Moral of thread: Never walk under a heavy suspended object with someone who has ordered a second-hand sail from Exchange Sails and insured their boat with Edward William Insurance.
[70521]
Well-Known Member
I know of at least two events on the Exe like that in the last five years.
pzpirate
New Member
I continued with Edward William when I took on my boat from the previous owner some 4 years ago.
However, I had to make a claim earlier this year. All of a sudden, the lack of a survey or riggers report became paramount. I have been advised to proceedwith repairs as a prudent uninsured and forward the final settled invoices and photographic evidence of the completed repairs.
Edward William will then go back to Insurers and see what they can do for me by way of a contribution towards the costs even if liability has not been determined within the terms and conditions of the policy coverage.
Make of that what you will.
However, I had to make a claim earlier this year. All of a sudden, the lack of a survey or riggers report became paramount. I have been advised to proceedwith repairs as a prudent uninsured and forward the final settled invoices and photographic evidence of the completed repairs.
Edward William will then go back to Insurers and see what they can do for me by way of a contribution towards the costs even if liability has not been determined within the terms and conditions of the policy coverage.
Make of that what you will.
JumbleDuck
Well-Known Member
Good luck with that. Edward William are the insurers.
Meanwhile, here's is the FCA warning against dealing with Edward William: https://www.fca.org.uk/news/warnings/edward-william-marine-services
Quandary
Well-Known Member
Surprised by all the comments regarding the demands of insurance companies.
I have had marine insurance now for around 45 years, always with a variety of reputable UK based companies, St Mgts. Navigators, HNJ, Saga, etc. One claim for a mast back in 87. But in all that time I have never been asked to provide a survey of boat or rig, or to replace any part because of age. Perhaps they think that I might know what I am doing or have they just been careless?
I have had marine insurance now for around 45 years, always with a variety of reputable UK based companies, St Mgts. Navigators, HNJ, Saga, etc. One claim for a mast back in 87. But in all that time I have never been asked to provide a survey of boat or rig, or to replace any part because of age. Perhaps they think that I might know what I am doing or have they just been careless?
Tranona
Well-Known Member
Your experience is common - but does not make good material for a forum rant! You have always had well known new(ish) boats and no claims, so insurers have been only too happy taking your premiums knowing the risk of claims is tiny!
On the other hand if you have a 40 year old boat that needs lots of work and has a low value and perhaps no insurance record, it is not surprising that questions are asked. My insurer is happy to insure my high value boat for peanuts, but the premium for my 50 year old boat with a value of 10% of the new one is 50% and subject to a survey if I want to put it back in the water. This despite no claims on the same boat since 1987.
Sandyshore
Well-Known Member
The FCA warning should be a message to all and sundry
WALK AWAY NOW and purchase with an authorised /regulated insurer.
Edward William and or Northern Reef who trade out of a Spanish location. When we exit Europe may show the insurance is probably not worth two bob or two euro as unregulated.
Unregulated insurance in the United Kingdom has been hit this year with a Danish taxi insurer going belly up.As they sold to insurancebrokers those brokers who would have been regulated by the FCA had to pay out of own pockets to purchase new insurance with a regulated insurer.
Come the big day any Edward William and or Northern Reef policy holder who . The FCA warning was very strong and to the point.
No crying in April. looking at the reports on this forum many appear to be having problems!
WALK AWAY NOW and purchase with an authorised /regulated insurer.
Edward William and or Northern Reef who trade out of a Spanish location. When we exit Europe may show the insurance is probably not worth two bob or two euro as unregulated.
Unregulated insurance in the United Kingdom has been hit this year with a Danish taxi insurer going belly up.As they sold to insurancebrokers those brokers who would have been regulated by the FCA had to pay out of own pockets to purchase new insurance with a regulated insurer.
Come the big day any Edward William and or Northern Reef policy holder who . The FCA warning was very strong and to the point.
No crying in April. looking at the reports on this forum many appear to be having problems!