GJW Insurance - Again

maybh1

maybh1

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Received my insurance renewal yesterday for Sea Dweller just shy of £1300.00 per annum.

I phoned them and spoke to a charming young lady and told her that I wanted to get it down to under £1000.00 as things were tight. She made a great fuss of the fact that we had been with them for 10 years and they wanted to keep our business etc etc

Anyway, after some carefull negotiation the policy price was lowered to £1017.00 which I think is fair. The boat was still on the policy for its purchase price which is something people may be overlooking. So I gave them a more realistic value

Whilst she has held her price well for the years we have had her its obvious that recently a big lump has been taken out of her resale value I also increased the excess from £1000.00 to £2000.00 (not payable on total loss or damage sustained in the marina). I think a saving of almost £300.00 was fair exchange - what do the panel think?

I then changed the Landcruiser insurance from Norwich Union who wanted £475.00 to Direct Line at £275.00 and saved a further £200.00.

What a profitable lunch hour that was /forums/images/graemlins/smile.gif all I need now is a safe bank to store my windfall profits in /forums/images/graemlins/blush.gif

Knowing my luck having negotiated two good deals the insurance companies will now follow the banks /forums/images/graemlins/shocked.gif

May
xx
 
Just out of interest,what was the price range from other insurers,managed to get get 6 quotes on our boat and price differed by 100% from the cheapest to the dearest.Ended up staying where we were(Craftinsure).
I now wish to claim my prize for the use of the letter "w" 3 times in a row.
 
Well Done..............
I'm trying the same technique with my current insurers Nav & General at the mo, comparative quotes from others have been higher so far but have asked them all to sharpen their pencils. One bunch told me to bugger off ! /forums/images/graemlins/laugh.gif
 
Did they advice what basis your policy is written or explain the difference between an

Agreed value Policy

and an

Estimated sums Insured

Might make a difference to how some wish to proceed.
 
Unfortunately insurance is one of those products which you only know how good it is when you come to use it, and I have had cause to claim twice this year.

I have to say I would be horrified at a £2000 excess on a policy of £1000, but then your boat may be valued at substanially more than mine, but that still means if you have a minor incident which results in a claim on your policy you're into a minimum £2000 cost to yourself before you start.

I would also check the small print about claims for underwater damage, as a recent bad experience with my Haven Knox Johnston policy resulted in me paying double the excess for underwater claims, which could make it a £4000 excess.

I would also check their marina benefit clause as, following another claim, I was under the impression that the excess did not apply for a claim in my home marina, but was shocked to learn that this actually only applied if I was attaced to my mooring (which I wasn't at the time of the incident), suffice it to say that I am no longer with HKJ.

In summary I think your £300 saving is great as long as you don't need to claim, unless it's a big one.

Neil
 
Glad you're happy but that doesn't sound like a particularly good deal to me especially with that excess!

I was with GJW and I found them fine but expensive. I moved to 'Traffords'.

Which so far have been very competitive on price, very helpful and supportive over an incident where false claims were made against me and also reduced the cost for a friend with a similar boat.

I have no connection other than I insure with them but would strongly recommend you give them a whirl. /forums/images/graemlins/wink.gif

PM me for contact details if you would like to try them.

Btw. Underwater gear included!
 
It's worth shopping around each year.

I ditched GJW a couple of years ago because they jacked up my premium for no apparent reason, and wouldn't price match against the competition.

This year, totally different story: lowest quote! And I finally got them to agree to single handed at night (just in case).

dave.
 
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