Insurance for old wooden ex-MFV

[Simon1]

I am having difficulty with obtaining satisfactory insurance for my exMFV (wooden). I have previously had a policy underwritten by Northernreef, without needing to make a claim, but now I have been led to believe that an offshore company is 'dangerous'. Anyone had any dealings with Northernreef ?

 

[JRMacGregor]

For a boat like yours it might be worth trying the BASIC BOAT LIABILITY COMPANY on 08707 870 030 (www.basic-boat.com) - this is for third party insurance only

 

[Joe_Cole]

There was a posting here on these people a while ago.

Read sailorbobs comments.

 

[Simon1]

Thank you for that. It will be worth a try. Simon

 

[Judders]

Like many things in life, so it is with insurance. You get what you pay for.

 

[LittleShip]

Try Saga if your in the age area??

Tom

 

[milltech]

This is what Sailorbob had to say,"There are plenty of well-known insurers, operating in the UK, who can offer cover. Yes they might ask for a survey, yes they might charge slightly more, but usually for good reasons. Ultimately they are operating within the UK legal system...."

Well I'm insured with Northernreef and made no claim, but if anyone would like to tell me of an insurer prepared to do Brest to the Elbe on a 45 y.o. retired RNLI lifeboat with persmission for single handing, please tell me who they are because I couldn't find one.

 

[milltech]

What is, "A boat like yours".

I've owned two MFV's, one 1944 single Gardner 18000 hour refit 1985, fantastic condition, original Admiralty build, sold for £69000. Was she old?

1974 Herd and Mackenzie, Iroko on oak cascovered from new, twin 8LXB Gardners, sold for £169000 was she old?

I would not have been content with minimum insurance for either, and I'd have rather been to sea in the Herd and MAckenzie than in any other boat I've ever been on, ferries included.

We don't know about the age and value of the boat in question do we?

 

[BrendanS]

Shipswoofy and Jimi et al will now jump all over me for posting links to old threads rather than having people actually respond to your question, but given the circumstances, I think it's better you were informed about your position

Have a read here, and think about doing a search of the forums as there are several threads on this company
http://www.ybw.com/forums/showflat.php/Cat/0/Board/ym/Number/466559/an/0/page/23/view/collapsed/

FSA by the way, is the Financial Services Authority, who regulate financial providers in the UK, but have no authority over companies like Nothern Reef, but do track companies of similar ilk

 

[Joe_Cole]

He also went on to express real concern about Northern Reef because of their dubious (in his view) credentials. It's one of those things that can only be established once a claim is made.

Personally, I wouldn't use them.

At the end of it you pays your money and makes your choice etc etc.

 

[milltech]

I wouldn't give you an argument if there was an alternative, all I'm saying is that I couldn't find one.

 

[sailorbob]

But if the insurers won't pay up if you have to claim, then any premium you have paid is wasted. /forums/images/graemlins/mad.gif

There is a very knowledgable guy in Cardiff. Have a word with Tony Burris at Bristol Channel Marine.

 

[milltech]

Thanks for the advice and I will save the file and have a word with your man before renewal. Thing is though, absolutely nobody has said Northern Reef won't pay up, or that they have never paid up, so really it's just because they are (A) offshore and (B) are accepting risks that everyone in the UK accepted until very few years ago.

I drive an ex rnli lifeboat and am fairly confident she can bounce well if asked, and if worse happens I probably won't be about to worry if they pay or not.