Insurance with no experience - help!

[3miry]

We're buying a 34ft catamaran very soon and have all but completed the sale. I have rather foolishly left insurance till last, thinking it would be an easy thing to sort out much like car or home insurance. Now I am trying to get quotes and nobody will insure us at all. We were planning on going through the French canals and to the Mediterranean but I can't even get quotes in UK coastal waters... the catamaran value we're trying to insure is £80,000. None of the insurers are even offering a compromise, e.g. "Do this extra qualification" or "have a skipper on board for training" - they are saying "We want at least 1 years experience".

I have barely no sailing experience, RYA competent crew so 1 week plus a few days out here and there as crew with family. Nowhere near 1 year.
My partner (co-owner) has RYA Day Skipper/ICC and comp crew, so about 2-3 weeks total as well. He did some dinghy sailing as a kid.

How screwed are we? Do we have any other options, or do you know any insurers who are more likely to insure those with no experience? Please help, I am concerned we're going to buy this boat this week and not be able to get insurance on it.

 

[[70521]]

Hello and welcome to the forum.

Go and get some quotes it is the only way to find out. If you are anywhere near the Southampton Boat Show go and talk to the major companies face to face.

 

[Graham376]

Even with experience/qualifications and many years of boat ownership, I'm finding getting alternative quotes difficult outside UK waters, the insurance world seems to be shrinking. Not surprised the OP is having problems unless he includes someone experienced as joint policyholder.

 

[pvb]

How screwed are we? Do we have any other options, or do you know any insurers who are more likely to insure those with no experience? Please help, I am concerned we're going to buy this boat this week and not be able to get insurance on it.

Welcome to the forums!

Get an online quote from Craftinsure. I can't see anything in their policy details which would exclude you on the grounds of little experience. I've used Craftinsure in the past, but have never had to make a claim. You may need to start with a policy for UK waters, then ask them to extend cover as you become more adventurous.

multihull insurance

 

[UK-WOOZY]

GJW are amazing!

 

[3miry]

Thanks everyone (and for the welcomes to the forums!)

Hello and welcome to the forum.

Go and get some quotes it is the only way to find out. If you are anywhere near the Southampton Boat Show go and talk to the major companies face to face.

Unfortunately I'm way way up north! I may take a trip down our marina and chat to some folks though, I am sure there's an insurance office there.

Even with experience/qualifications and many years of boat ownership, I'm finding getting alternative quotes difficult outside UK waters, the insurance world seems to be shrinking. Not surprised the OP is having problems unless he includes someone experienced as joint policyholder.

I have just watched a video blaming it on Brexit, so that is what I am going to blame too (along with a whole bunch of other annoying things)

Welcome to the forums!

Get an online quote from Craftinsure. I can't see anything in their policy details which would exclude you on the grounds of little experience. I've used Craftinsure in the past, but have never had to make a claim. You may need to start with a policy for UK waters, then ask them to extend cover as you become more adventurous.

multihull insurance

Craftinsure looks like it might be a winner, at least for the UK policy. Fingers crossed they will let us extend it when we're ready to head off. Thanks for this!

GJW are amazing!

I've just given them a call, Admiral Marine also pointed me towards them but unfortunately the lady I spoke to said they couldn't cover a catamaran unless we had over a years ownership experience. Maybe when renewal date comes round.

 

[doug748]

......

How screwed are we? Do we have any other options, or do you know any insurers who are more likely to insure those with no experience? Please help, I am concerned we're going to buy this boat this week and not be able to get insurance on it.

Have you asked about third party cover? You take the risk on the £80,000 and they look after damage claims from others. If you don't fancy the risk, I guess that is the way the insurers are thinking as well.

As above, I would confine myself the UK waters for the first year, could be very useful learning and there is no guarantee, with he covid situation, you will get to France early next season anyway.

.

 

[pvb]

Craftinsure looks like it might be a winner, at least for the UK policy. Fingers crossed they will let us extend it when we're ready to head off. Thanks for this!

Let us know how you get on.

 

[PaulRainbow]

Y Yacht (now Topsail) would also be worth a call.

YYacht Insurance - Yacht Insurance | Boat Travel Insurance | UK & EU Insurance

 

[goeasy123]

What response do you get if you ask for 3rd party only cover?

 

[CAPTAIN FANTASTIC]

Welcome to the forum. You need to get an insurance cover with an insurance companies that have good reputation when comes to claims (one of which is GJW, I have been with them for over 13 years). I am sure you do understand why they are asking for at least one year experience. In some places (marinas etc) it is mandatory to have a third party insurance as a minimum. Getting a third party cover it may be the best option in your case for the first year. I suggest that you choose an insurance company that is based and regulated in the UK; there are some dodgy companies around based overseas. Good luck

 

[V1701]

Assuming you won't be setting off through the canals this year I'd echo some of the posters above & suggest taking 3rd party cover for the first year, effectively self-insuring your own boat. It's what many long term, long distance cruisers do anyway. I've used Basic Boat for years, all done online. Best of luck...

 

[pvb]

Welcome to the forum. You need to get an insurance cover with an insurance companies that have good reputation when comes to claims (one of which is GJW, I have been with them for over 13 years). I am sure you do understand why they are asking for at least one year experience. In some places (marinas etc) it is mandatory to have a third party insurance as a minimum. Getting a third party cover it may be the best option in your case for the first year. I suggest that you choose an insurance company that is based and regulated in the UK; there are some dodgy companies around based overseas. Good luck

Assuming you won't be setting off through the canals this year I'd echo some of the posters above & suggest taking 3rd party cover for the first year, effectively self-insuring your own boat. It's what many long term, long distance cruisers do anyway. I've used Basic Boat for years, all done online. Best of luck...

There's no way I'd spend £80K on a boat and then only put 3rd party cover on it!

 

[AntarcticPilot]

Have you tried going through a broker? They may be able to persuade insurers to accept their clients. I use John Russell (Insurance Birmingham) and they have avoided all the issues often reported here for me.

 

[ryanroberts]

Y yacht insured me, with a rusty day skipper and a little holiday stuff. I had been an inland boat owner for years, might have been it, also half the value of your boat and only coastal.

 

[RJJ]

We have been with Admiral for three years and very happy. I find them helpful and pragmatic.

I would push the conversation gently and in any case look for some ways to build experience. I bet if you hired a coach to do a channel crossing or two with you guys as nominal skipper (under third-party insurance); then add your DS and your partner's CS accordingly, you'd be in a different boat so to speak.

Have to say an 80k boat as a pair of near-novices isn't the way most of us come to boat ownership, and that of course informs the insurers' perspective.

 

[Solostoke]

Perhaps cats are a lot more risky?
New owner here with zero qualifications and I've just insured a 50k mono for £250 fully comp with ceta. All they wanted was the survey.

 

[Graham376]

Y yacht insured me, with a rusty day skipper and a little holiday stuff. I had been an inland boat owner for years, might have been it, also half the value of your boat and only coastal.

Y is now Topsail and things have changed. Our original underwriters with Y policy will now only offer third party and an alternative quote from Topsail is far more expensive so, we're shopping around.

When we bought our first boat (Centaur) with no experience, we managed to get coastal cover only from Nautical Insurance brokers. After gaining experience over a year or so and completing Day Skipper, cover was extended.

 

[Tranona]

Thanks everyone (and for the welcomes to the forums!)

I have just watched a video blaming it on Brexit, so that is what I am going to blame too (along with a whole bunch of other annoying things)

Craftinsure looks like it might be a winner, at least for the UK policy. Fingers crossed they will let us extend it when we're ready to head off. Thanks for this!

I've just given them a call, Admiral Marine also pointed me towards them but unfortunately the lady I spoke to said they couldn't cover a catamaran unless we had over a years ownership experience. Maybe when renewal date comes round.

Little to do with Brexit directly, although it has not helped. Yacht insurers have been losing money for years which has led some to withdraw and others to merge so reducing competition and more important underwriting capacity. So insurers are being far more selective about the risks they take. Traditionally they have never bothered too much about checking owner's competence as this, or lack of is not much of an issue in claims. Most claims are for damage from natural forces rather than skipper incompetence - that is genuine accidents. So their call for experience is really a call for a good claims record - which of course you can only get by owning and insuring a boat! The problem with insurance for outside the UK is that the cost of claims is higher. When I had my boat in Greece insurance was 25% higher than when it was in the UK.

The issue with Brexit is about regulations that govern where and what insurance can be offered. In reality most big UK insurers are part of international groups and can insurance for UK residents for use anywhere, or for UK citizens resident outside the UK if they wish.

As already suggested you may do better going to an independent broker, rather than direct to an insurance company or a broker who only offers a limited range of policies. Be aware also that not all policies are the same, particularly if you want an agreed value on your boat.

 

[penfold]

At risk of encouraging moral turpitude, how are they checking the 1 year experience?