Insurance Renewal

[Illusion]

As our insurance is due for renewal this month, I've been reading with interest some of the recent insurance related threads on this subject. We currently have our T47 insured through Towergate (the Premier Marina scheme),who we have been with for a number of years. Prices have always been competitive, but fortunate we've never had to make a claim, so the rest very much untested.

Having got quotes from two other companies Pants and Y Yacht, having read favourable reviews on hear, the two quotes are now in

Pants is 50% higher than we are currently paying and Y is 50% lower than we are currently paying. Looking at the difference between the two potential new companies, Pants are obviously looking to charge twice as much as Y, for what on the face of it is essentially the same level of cover.

We have checked the values insured are the same and the cover is like for like, however I wasn't expecting such a big gap. On the face of it this seems an easy decision, however is it likely any other factor is being overlooked to account for this difference?

 

[Firefly625]

Our new boat is insured with Y insurance, better cover for less money that our old boat which is insured with GJW. When I first got the quote from Y I thought I may have missed something and perhaps was not covered for as much... but obviously that is actually the reverse. I think the dreadful term is.. "a no brainer"

 

[Illusion]

"a no brainer"

That's what I thought....just seems too good to be true!

 

[Momac]

I changed to Y last week.
In my case the premium was only £25 less than my previous insurer - but with terms which seem better and including legal cover.

I did reject a cheaper quote from another provider as I didn't like the exclusions.

 

[sailorman]

I renewed with Y today all set-up a month ago with online banking, docs, came via email on Friday.

 

[Andrew38]

I changed from Towergate Mardon to Y.