Insurance Whilst Laid Up & Out Of Use

[langstonelayabout]

Although I’m currently have my 25’ sailing cruiser afloat and in commission I’m also doing up a 27’ sailing cruiser ashore (at my sailing club). I’ve spoken with the insurer (the same one as is covering my 25’ cruiser) and they understand that the boat ashore is the subject of recommissioning and renewal prior to a survey and then I’ll be back in touch with them prior to re-launch.

I’ve just received a quote to insure it whilst out of commission that is about the same price as the insurance to cover it whilst afloat and in use!

Would any of the insurance cognoscenti out there be able to confirm if this is normal practice? I was expecting to pay less…

 

[nauticalnomad]

Yeah i think my insurance is around 800 gbp a year and when i was in the yard for 3 years refitting it dropped to like 600 a year. Maybe 650 a year. Cant remember but it was around 150 to 200 a year cheaper..
Not sure who you are insured with but id speak to Y insurance. I found them on here and they outdid every other company on alot of things.

 

[Steve_N]

I had Isabella insured under 'builder's risks' during a 2 year fit-out and it wasn't much cheaper than an in-commission policy, if at all. I think the underwriters take into consideration the fact there are likely to be power tools, heaters etc. being deployed which bring with them a new set of risks to the boat.

 

[James_Calvert]

We are currently ashore out of commission pending an overdue insurance survey and various other delaying factors. When GJW renewed the policy in March they knocked a couple of hundred or so off the normal premium on the basis that they'd pop it back pro rata when we got round to launch again.

No big jobs to do in hand though...

 

[Tranona]

Quite normal, particularly for an older low value boat. Think mine was at a 15% extra discount compared with in commission. Illustrates how low claims are that arise from actually using a boat.

 

[Contest1]

Just had a quote for being laid up in a secure yard while for sale. Very little difference so not going to bother.

 

[[70521]]

I was expecting to pay less…

Why? In some respects there is more risk; hot work comes to mind.

 

[langstonelayabout]

Why? In some respects there is more risk; hot work comes to mind.

Certainly no hot work in anything I'm planning... Fettle the engine and steering, check the electrics, new standing rigging, the myriad of little things and fit a new prop.