Insurance for bareboat charter

[oldbloke]

Surely the the first rule of insurance is:- only insure what you can't afford to replace. Are you planning on £2000 of damage every 10 years?. And then they'll refuse to pay because you were drunk or didn't have your anchoring cone displayed properly.

 

[sailho]

Surely the first rule of insurance is:- only insure what you can't afford to replace. Are you planning on £2000 of damage every 10 years?. And then they'll refuse to pay because you were drunk or didn't have your anchoring cone displayed properly.


The thread is on the amount you have to leave a charter company as a deposit before you can take control of the boat.

This is either an insurance policy or leaving a credit card deposit which you could lose the lot if the charter co claim there was damage to the boat.
As a charter client there is no negotiation to the amount, hence the insurance policy, which has been complicated by the UK leaving the EU and insurance companies needing to apply for different financial licences to sell to UK residents.
HAMBURGER YACHTVERSICHERUNG SCHOMACKER BOOTSVERSICHERUNGEN seam to be the only company providing this, a one of basis which most people require as only do one charter a year

 

[oldbloke]

If you do the arithmetic and decide that any policy is a nice little earner for the insurance Co and is not worthwhile for the charterer then any difficulty in finding a policy is irrelevant

 

[sailho]

€170 out lay verses loosing €2000. As you say it's a choice each person makes by judging their perceived risk.

Strong wind leaving a mooring blows the boat in to the one next to it and, you rip there or your stantchings off or crash in to an anchor soon eat in to that €2000

 

[PabloPicasso]

Wow - I guess the best way to avoid this is to bring a mask and snorkel and have a look before you leave the dock.

If you want to risk swimming in the polluted charter dock...

 

[wonkywinch]

I normally self insure most things. I have high excesses on my car and house insurance but until recently was chartering 4-5 times a year so the EIS policy I had at 13% of cover was good value, especially as it was saving me 10% premium wanted by charter companies to cover the deposit.

This charter is a one off as is the policy so I'm still undecided. I'm not in the habit of crashing boats but the Aussies in QLD don't insist on any qualifications to rent a boat so it's the unknown risks I'm thinking of.

 

[sailho]

The majority of this thread is for boats in EU associated areas. If you are looking for insurance for Australian waters, then maybe look at an Australian insurance broker policy that has a more amiable attitude to UK residents.
Just a thought

 

[wonkywinch]

The majority of this thread is for boats in EU associated areas. If you are looking for insurance for Australian waters, then maybe look at an Australian insurance broker policy that has a more amiable attitude to UK residents.
Just a thought

In the event of any dispute with the insurer, I'd prefer them to be local. EIS covered me for charters in the BVI and Bahamas. Will look at Australian insurers but the links to firms on the charter co website say "Australian residents/citizens only".

 

[Baggywrinkle]

With damage waiver offered by the charter company it serves two purposes ...

1. It frees you from payment of the excess which is usually a few grand if you damage the boat.
2. It means there is no point in the charter company trying to stiff you for damage you didn't cause when you return the boat - just hand back the keys and leave.

I always take the offered damage waiver more for reason 2 than reason 1.

Then you have peace of mind and a guaranteed hassle and cost free handback.

 

[wonkywinch]

With damage waiver offered by the charter company it serves two purposes ...

1. It frees you from payment of the excess which is usually a few grand if you damage the boat.
2. It means there is no point in the charter company trying to stiff you for damage you didn't cause when you return the boat - just hand back the keys and leave.

I always take the offered damage waiver more for reason 2 than reason 1.

Then you have peace of mind and a guaranteed hassle and cost free handback.

Unfortunately the charter co doesn't offer a damage waiver option - Travel Insurance - Whitsunday Escape

 

[wonkywinch]

I had a chat with some sailing buddies before. On the basis that the sailing area & environment is new to me & full of shallow reefs, despite the best will in the world, the boat could swing into a reef at night damaging the rudder. The insurance premium gives me peace of mind the holiday won't suddenly cost me A$4,000 because of a moment's inattention.