I see Pantaenius are at it again

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Mikedefieslife

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Had a renewal come through from them. Another 13% increase on 3rd Party only (they don't offer hull insurance once you sail outside of Europe).

Never easy getting insurance for a 42 year old boat that is out sailing the world.

Anyone else want a little rant? ;)
 
...presumably, shop around?

Cost of shipping parts around, in event of a repair, could be the X factor given the bloody virus
 
I switched from them (Pants) last year because of the price hike. I went to GJW, but had to haggle with them re long passage solo trips as their standard clause was 18 hours. It turns out that it is 18 hours without sleep, not a Port to Port solo limit, so Biscay with a nap every few hours is ok :whistle::love:
 
I insured expensively with Pants for 1 year, they then hiked the price up significantly so I didn't bother renewing. I cannot for the life of me imagine why you'd insure 3rd party only with them. The bean counters know their trade though & will have worked out that so many people just renew cos they can't be arsed shopping around or don't need to worry about a price hike or whatever and remember they've got all that sponsorship of the likes of Skip Fekking Novak, etc. to think about haven't they so come on guys get behind Pants and renew your policies and if you don't already insure with them YOU SHOULD cos they need the money!
 
It may be "Buyer's Stockholm Syndrome" that keeps me but I've been insured with Pantaenius for 15 years. I have managed 3 claims in that time, have extended my cruising area twice and have nothing but praise for the response and the voices on the phone. I have tried quotes from other insurers but none have produced the same (and to me essential) coverage of sailing season, sailing area, mooring, racing, single-handed, tender and outboard, or, even if they have got close on the cover, have been more expensive - aye, even the much vaunted Y wanted considerably more dosh.
It wasn't me but they paid without a quibble for P bracket, shaft and rudder damage to a skipper who claimed he hit an understandably irate, basking shark.
Pants, if you read this glowing testimony, a reduction in premium would be appreciated !
 
Zing said:
I just reinsured with Y. 43% up and with more conditions. Blagh!
Click to expand...

Eeek, I'm with Y yachts. I had hoped that insurance increases would be more sensible this year as risk of sinking, hitting other vessels, grounding are a lot lower than normal. I can pretty much guarantee my boat won't even be near water this year and stealing it would be a bit tricky.
 
I insured with Y and was mostly just grateful that I got continental fully comp & liveaboard contents as a newbie for <300 (less than my narrowboat..) given my self assessed probability of cocking up dramatically. I'll start gretching about it later I guess.
 
Think yo'selves lucky, I insured my little faering with AXA as it compulsory here. Basic 3rd cover, but includes towing and salvage.. It has gone up by 4X since I first launched in 2007. Then there is the house, unlike UK, it rolls over and , again, insurance is compulsory. So, a week before it was due, they sent the bill..20% hike. WTF!. Luckily there has been a recent law that allows you to cancel insurances, tho the COs make it as difficult as pos. I went to another mainstream outfit and got the same cover for 30% less. Queue assorted calls from AXA trying to offer a discount... Well, I was nice to her, as it was not her fault. But I was scathing about her outfit.
I am in the unusual position of never havng to claim on ANY insurance policy (touche le bois) so I would expect some decent treatment.. some hope.
 
Zing said:
I just reinsured with Y. 43% up and with more conditions. Blagh!
Click to expand...

Y Yacht are my prefered choice and I the full hull insurance cover I with them previously was less than Pants' 3rd party cover. The problem is most insurers do not offer hull cover for boats less than £100,000, and/or over 30 years, and especially if you sail outside of the EU or even Maderia, Azores, and the Caneries.

Obviously even more difficult now as it's impossible to have a survey done which was my plan last month until the lockdown hit the Caribbean.
 
We have been with Pan for some 11 years. They are not cheap. I did question them about the risks involved this year and they actually said that storage was frequently more risky with boats blowing over, theft etc.
A few years ago there was a fire in a covered boat storage in Northern Germany and something like a hundred boats burnt to cinders. All the insurance companies immediately started the finger pointing drill as to whose boat had started the blaze and refused to pay out until it had been settled; all, except Pantaenius.
Almost every other year the is a fire in one of these boat storages.
 
I'm afraid it's a fact of life that insurance companies hike the cost up at every annual renewal. You are not rewarded for loyalty to one company but penalised. This means that we must go through the annual ritual of doing a price comparison then going back to your original insurer and asking them to match the cheapest. (Very time consuming).
Don't forget to check that the lower priced insurance gives the cover that you require. Also some insurers are less likely to meet the full costs of the claim but you don't find this out until you make a claim although you can do some online research.
Having said that, I've been quite happy with GJW who I've insured with over several years and a variety of boats. They've also dealt fairly with a couple of claims. This gives me confidence that subsequent claims - if there are any - will be dealt with likewise. I still do a price comparison though.
 
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