Insurance - seen how much the government wants!

C

Castletine

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I've just received my renewal for my insurance and I see that the Government wants to charge me £52.50 for the joy of it all - This has, of course, made me see red as they continue to grab my hard earned money with no return. (Legal Theft)

My premium seems quite high this year despite no claims, being just under £300. The good thing about the firm is that they do not require a survey which offsets a lot of cost, but I'd be interested to know what others are paying for similar craft.

Mine is 1931 carvel, 30 foot, Marina berthing in South of England with coastal insurance and the premium is £287 per annum.

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I think there's something wrong with the tax figure. My gross premium was £404 less £101 ncb and I paid £15.18 Insurance Premium Tax presumably on the nett premium. If you're paying less than £300, you should not be paying £52 tax.

I complained because the gross rose 15% this year and was told that it's due to the rise in expensive claims - who are these people that claim. Bit like who voted for the Government, you never meet them.

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In Australia every boat over 5 years old needs a survey before any company will insure it, no matter what it is made of. Every wooden boat, even a brand new one, needs a survey! Imagine the fun that I had trying to get insurance for an 85 year old wooden ketch! If you want to keep your boat in a yacht club marina, you need insurance. To even have your boat on a yacht club register, you need insurance. I now have insurance, and think myself fortunate, whatever the extortionate cost. That was over $400 a couple of years ago, and I've had a claim since then, so the next one will be worse.
Peter.

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Who did you get cover with?

I have a 35ft Endurance ketch, constructed of ferrocement (professional build in 1978). I keep her in Cockburn Sound, south of Perth in WA. I have tried numerous insurers to get cover, even Third Party, to no avail. I have been able to get AYF TP cover, but that is limited. I have not had her surveyed.

I would be interested to see if your insurers would give me a quote.

Peter

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I'm insured through QBE / Mercantile Mutual. I was fortunate in that a shipwright friend had known my boat for longer than he had known me, as thus was well acquainted with it. His recommendation was enough for the company, who also knew him well. I have not tried to pass it off as better than it is, but it is very sound in spite of its 85 years in the water. I was recently able to increase the Sum Insured as I have installed a new engine and the insurance has just stumped uip for a new oregon mainmast after a dismasting. They were very good about my claim, and the assessor said "We're here to help you!" I nearly fell off my chair! They were, however, as good as their word.
Peter.

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Hi,
I was wondering if you could let me know the name of your insurers. If they do not require a survey then this would be great for me as my boat might not quite scrape through one in her present state and I need to get her into the water to take up a little over the summer. As you know you need insurance to go on a mooring. Cheers for now,
Moz.........

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sure, it's Kendall Becker, I haven't got their telephone number but they do advertise in the back of Classic Boat. Stuart Becker is very decent, doesn't need a survey and is prompt. I haven't had to claim so I cannot tell you how good they are after the storm, but good luck.

Let me know if you can't track them down and I'll hunt down the number.

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I agree with tillergirl. There must be a mistake.
Otherwise your insurance doesn't seem that unreasonable.

Will Taylor

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Update

Hi
A lot of you rightfully pointed out that the government charge seemed incorrect, and incorrect it was - when I questioned my insurance provider, he assured me that it was a lot lower - he did say however that the government when it introduced this marvelous bit of stealth tax originally charged 2.5%, then 4% and now 5% - pretty good indication of how the powers that are like to screw the populous for money to fund their bureacratic stuff ups.

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