Insurance rant

[Pavalijo]

No, it means that if a skin fitting fails due to insufficient maintenance and the boat is lost you get nothing. Y & Pantaenius don't cover the skin fitting but will pay out on the rest of the boat.

Same with Nav and Gen - and their renewal premium was less than Pants' new business quote. Didn't ask Y to quote but from reading earlier threads those are the 3 I would look at based on terms and exclusions and claims experience of others from those threads.

There was a very informative thread on this subject on the mobo forum recently with input from a forumite who appears to have an insurance background - worth looking up

 

[eddystone]

No, it means that if a skin fitting fails due to insufficient maintenance and the boat is lost you get nothing. Y & Pantaenius don't cover the skin fitting but will pay out on the rest of the boat.

You may be right on the specific terms of GJW - I'll have to check my policy but that is not the usual meaning of consequential loss; that would be for example if you suffered a financial loss due to unavailability of the boat. It shshouldn't for example exclude loss of the boat as a "consequence" of a dredger crashing into it.

 

[sailorman]

You may be right on the specific terms of GJW - I'll have to check my policy but that is not the usual meaning of consequential loss; that would be for example if you suffered a financial loss due to unavailability of the boat. It shshouldn't for example exclude loss of the boat as a "consequence" of a dredger crashing into it.

Yo would then be claiming against the dredger, not arguing with your insurer about the claim you though your were covered for

 

[eddystone]

Yo would then be claiming against the dredger, not arguing with your insurer about the claim you though your were covered for

The meaning of "consequential loss" is an indirect loss occuring as a result of an insured loss, usually loss of income due to unavailability of an insured asset. If any insurer wont pay out on loss of the boat because the insured has neglected maintenance its not becuse the insurer doesn't cover consequential losses it's because its not an insured loss.

 

[sailorman]

The meaning of "consequential loss" is an indirect loss occuring as a result of an insured loss, usually loss of income due to unavailability of an insured asset. If any insurer wont pay out on loss of the boat because the insured has neglected maintenance its not becuse the insurer doesn't cover consequential losses it's because its not an insured loss.

search jfm`s interpretation :encouragement:

 

[Arcady]

+1. I have also found their service to be excellent and the price competitive.

 

[xyachtdave]

I switched to Y Yacht Insurance after my previous insurer was being ridiculous over the dates of a survey. Short version -boat booked into Fox's for sand blasting, paint job and rudder bearings, middle of Feb last year. Insurance due for renewal a few days before work starts.

Insurers insist on survey before the work is due to be done, lifting the boat twice for the sake of about 2 weeks and won't budge on renewing.

I offer to show them a file of bills showing £25k spent on rigging, sails, sea cocks, engine parts/servicing etc etc and offer to do the survey on lifting at Fox's, so after 7 claim free years with them - goodbye DeNovo - hello Y Yacht.

£100 cheaper with better cover too.

 

[sailorman]

I switched to Y Yacht Insurance after my previous insurer was being ridiculous over the dates of a survey. Short version -boat booked into Fox's for sand blasting, paint job and rudder bearings, middle of Feb last year. Insurance due for renewal a few days before work starts.

Insurers insist on survey before the work is due to be done, lifting the boat twice for the sake of about 2 weeks and won't budge on renewing.

I offer to show them a file of bills showing £25k spent on rigging, sails, sea cocks, engine parts/servicing etc etc and offer to do the survey on lifting at Fox's, so after 7 claim free years with them - goodbye DeNovo - hello Y Yacht.

£100 cheaper with better cover too.

Your previous insurer should have given you notice of a survey on the previous renewal, thus giving you 12 months to arrange it.
Did Y req a survey

 

[xyachtdave]

To be fair I got a few months notice on the survey from my previous insurers and Y Yacht were happy that I had maintained the boat and could produce evidence of this.

I understand the requirement for a survey, I could have renewed, sailed the boat to Fox's and then got one done. Quite what difference a couple of weeks would make I have no idea. But the computer said no.

A few of my mates have gone to Y Yacht too, including a big' un with a big premium, so their (previous insurers) loss!

 

[Seajet]

I have used Haven ( before that called St Margarets ) for decades; I thought I'd better check around last year and I was surprised to find they were very competetively priced.

They also suit me in not demanding the expensive hassle of surveys; when I returned to them in 1990 on getting my old boat back they asked for a survey which I thought fine, especially as she was out of the water.

Then the very next year they asked for one again ! I rang saying ' you are joking aren't you ? ' and they replied, ' Sorry Sir, see what you mean; no more surveys ever then ! '.

I agree re GJW, a couple of chums have had claims through them - inc a boat write off, sadly - and their treatment seemed exemplary.