Insurance

J

jmw

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Hi All,

Around this time last year there were various threads regarding insurance with the general consensus that Pantaenius was amongst the best for clarity of policy wording even though they are far from the cheapest.

I know that JFM had done a lot of research and offered some excellent guidance at that time.

So to this year's renewal........ Are Pants still (arguably) the best or have others stepped up to the plate?

I would welcome views & recommendations on who you think is best (not cheapest as I would rather pay a little more for better cover).

Thanks in advance.

Joe
 
The answer is a moving target; far from set in stone. What anyone said last year/last month might not apply now.

I liked Pantaenius's pre-2014 insured perils policy and bought it for many years for my last 4 boats. I praised it on here many times. However I dislike Pantaenius's new policy (the all risks policy, introduced late 2014/early 2015) and in my view it is materially worse than others. At same time, Y and HKJ put lot of effort during 2014 into improving their policy and accepted a lot of mark ups that I made. So in May 2015 when I renewed my insurance, I left Pants and went to Y but with a customisation on one clause that I've explained in an earlier thread and that frankly only makes commercial sense to Y on a higher value vessel. Prior to this, I disliked the HKJ + Y policy and said so in no uncertain terms on here (including e-punch ups with their boss, John Macaulay, but we are best of friends now having collaborated on the HKJ/Y policy re-write!)

I had plenty of behind the scenes correspondence with Pants in H1 of this year explaining the problems as I saw it with their policy and they told me they agreed most if not all the criticisms and planned to issue an improved version 2, but I have not checked during the summer to see if they actually did that.

BTW, both firms are pleasant to deal with and have integrity imho; there is nothing to choose between them on that score imho.
 
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