nigelm
Well-Known Member
My current policy is up for renewal next month and I seem to recall a company getting favourable feedback on here , was it Yinsurance ? , or Sumat similar , currently with GJW and hoping to save a pound or 3 .
Insurance company name
- Thread starter nigelm
- Start date
Vara
Well-Known Member
Athene V30
Well-Known Member
To my mind cheaper insurance isn't the key here, to me it is how good is the company at settling if you make a claim. In my experience GJW do when the need arises.
Stork_III
Well-Known Member
I agree with your sentiments, but level of cover is inportant. I was with GJW for 8 years, but following comments on here I queried with their underwriter their view on consequential losses following mechanical breakdown. Basically they confirmed that grounding or sinking following a mechanical breakdown was not an insured item under their policy terms. Y Yacht Insurance has an "All Risks" policy and do offer such cover, and I change to them. They happened to be a little cheaper, and this year's renewal is at no increase.
ChattingLil
Well-Known Member
And they were really nice to deal with. Helpful and responsive.
silverdawn
Well-Known Member
Hi,Nigel, Also with GJW I have the same boat as you just got my renewal £208-00 full comprehensive which I think is good value given their reputation, possibly not the cheapest but what could you save going to the cheapest £50 ? I would rather have peace of mind, I have been with them 6 years ( no claims) but have spoken to several people with GJW who have claimed and been very satisfied with the outcome. The extra £ 1-00 a week given the overall cost of owning a boat is money well spent.
John 32i
Well-Known Member
Very impressed with Yachtline - emailed them today to enquire about extending our cover to keep the boat in the water all year round (laid up period 1.11 - 31.3) and they extended it by return email for no extra cost!
Otter
Well-Known Member
Y Yacht's cover is the reason I switched, their all risks policy gives real piece if mind. They were also half the cost of the three quotes I got. Sometimes cheaper is also better!
nigelm
Well-Known Member
Hi Stuart , my renewal was for £177 , not sure why the differance , I can only assume you have a greater insured sum , I have just filled in a online quote with Yinsurance , lets see how they compare , like the idea of the all risks cover mentioned in previous posts tho .
sailorman
Well-Known Member
i pay approx 0.5% premium of agreed insured value
Bru
Well-Known Member
This has been quoted before and I cannot find any way of twisting the plain language policy issued by GJW that would justify it!
Before renewing last year with GJW, following similar comments on Scuttlebutt, I queried this with GJW and they denied this was the case. I shall query it again having just insured the new and much more expensive pride and joy with them!
Stork_III
Well-Known Member
A direct quote from Jo Griffiths of GJW :- However we would be far more cautious regarding an engine failure that ultimately resulted in the vessel sinking - as the act of sinking per se is not an insured peril so the claim could fail on both counts!
Hope you are confirmed in your belief when you talk to them, I was not.
silverdawn
Well-Known Member
Hi Stork, As my above post I have been with GJW 6 years got my renewal forms yesterday been carefully going through each exclusion and cannot find any reference regarding mechanical breakdown linked to grounding or sinking, I would have thought that
most grounding plus total lost would be through engine breakdown and being wash onto a lee shore or rocky outcrop,or even a simple breakdown in a crowded marina with a spring tide pushing you into moored boats if not covered for this then the policy
is usless.
I will contact GJW and clarify before renewing , I will post the outcome!
Koeketiene
Well-Known Member
Seconded
silverdawn
Well-Known Member
Hi Nigel, My boat insurance premium =£177-36 Premium tax £10-64 Policy fee £20-00 Total £ 208-00 the boat is insured for £17000-00 the Liferaft and personal effects £1000. this was based on pontoon berth in a marina 12 months in commision giving me the opportunity to sail all year,perhaps this is why the additional premium is added.I will question them!
Stork_III
Well-Known Member
Please do let us know if they have changed their terms, Ms Griffiths did say they would review the policy but as yet have not made contact.
wingdiver
Well-Known Member
We insured with Y Yacht a couple of years ago after many years of other insurers.
They seem to cover more for the money.
They also allowed us to pay in four quarterly instalments (maybe because our insurance premium is much higher than the figures mentioned by silverdawn and nigelm
but still less than sailormans 0.5% of insured value 
).
I believe the MD is ex Pantaneus or similar.
Always been very helpful when I have called them up for advice etc.
They seem to cover more for the money.
They also allowed us to pay in four quarterly instalments (maybe because our insurance premium is much higher than the figures mentioned by silverdawn and nigelm
but still less than sailormans 0.5% of insured value ).I believe the MD is ex Pantaneus or similar.
Always been very helpful when I have called them up for advice etc.
Otter
Well-Known Member
% premium per thousand of insured value is a very misleading concept. They have a fixed cost and a minimum charge per policy to cover all costs and allow a reasonable profit on each policy regardless of size. Otherwise there would be no realistic value in insuring lower value yachts. Hence a £10,000 value costs more per thousand in premium than Duncan's dream yacht.
The much lower cost of our policy was explained that older yachts suffer much less expensive damage in collisions and groundings because of their robust build.
The much lower cost of our policy was explained that older yachts suffer much less expensive damage in collisions and groundings because of their robust build.
wingdiver
Well-Known Member
Maybe that explains our premium level too - with the thickness of fibreglass - 30 tons for a 44ft boat makes her a fair old lump.
nigelm
Well-Known Member
Just had email back from Y ins , their quote was £169 for £19k worth of cover which inc dinghy/motor , not much cheaper than GJW but they made a big point of their "all risks" cover .
That's on a swinging mooring not a marina , I haven't read all the small print as I'm using my phone but will tomorrow when get to work ....
That's on a swinging mooring not a marina , I haven't read all the small print as I'm using my phone but will tomorrow when get to work ....
