Insurance

volvopaul

volvopaul

Well-Known Member
Joined
1 Apr 2007
Messages
9,085
Location
midlands
hotmail.co.uk
Hi folks what’s the average cost these days to insure a 100k motor boat with a top speed of 30 knots ?
I have not owned a boat now for 4 years so I doubt any previous no claims will count , although I have an unblemished no claims status.
 
Portofino said:
£800-£900 .
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Really , my last boat , Insured for value £170k was £650 4 years ago .
I had read on here the premium had risen way above inflation , it seems the marine industry is now a victim propping up the Insurance worlds bank account that must have been paying out the likes of flood and storm victims in past years .
 
My T40 about 750 with Yyacht.
VP I dont think it is as mercenary as you allude to. There has been much discussion online and in print on the amount of claims and insurer losses, reducing numbers of insurers and as a result lack of competition, the industry is rebalancing. Thus the recent low premiums have now jumped. Does make sense but is painful!!
 
bluetooth said:
My T40 about 750 with Yyacht.
VP I dont think it is as mercenary as you allude to. There has been much discussion online and in print on the amount of claims and insurer losses, reducing numbers of insurers and as a result lack of competition, the industry is rebalancing. Thus the recent low premiums have now jumped. Does make sense but is painful!!
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Supply and demand come to mind but yes I am aware the cost has risen , some feedback recently we’re quoting nearly double renewal quotes .

i can tell you that certain companies now will move heaven and earth to try and reject claims by using fancy surveyors with letters after there names that have virtually zero Volvopenta knowledge, yet are both judge and jury when it comes to rejecting claims , making there fee worthwhile in the eyes of the insurance company .
 
My 2004 Fairline Targa 43 was £980 incl IPT on renewal in Dec 2019, with Y Yacht insurance. I’ve not claimed in my 6 seasons of boating, last 3 with Y.

Cost for previous 12 months on same boat £816 incl IPT, and my Targa 34 for the 12 months before that was £625.
 
Amlin based through various guises.
14/15 was £480.................the outgoing Porto 35 was £1300 that year ....same Co + Amlin .
15/16 £525
16/17 £ 790
17/18 £860
19/20 £880.

As bluetooth said ......it happened between 16 and 17 .
Used Colemans ( S / Sker Link ) same base Amlin wording .
“ Martello “ and latterly Zurich .

Y ,s last stab was iirc 16/17 ....£1400 , for exactly the same worded policy ( In fact less cover * ) as Coleman’s
Tried Pants once £2k can’t remember which year ....filled the quote in the bin !


* extra bits from Colemans version of Amlins policy were useless to me stuff like crew replacement, fine art , safe contents , hijacking .But nether the less included for 1/2 the price .
 
volvopaul said:
Hi folks what’s the average cost these days to insure a 100k motor boat with a top speed of 30 knots ?
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Mine fits that description and I've just renewed with GJW for £664. That includes a £60 loading for an accident last year. I'm told that will be removed next year.
 
2005 P42 valued at £200k , 8 years no claim including rib etc , premium this year was £1050 , jumped in the last 2 years although i did get an online quote for £850 i renewed with Y as i felt more comfortable there.
 
I am paying £5.60 per £1000 sum insured - renewed in March . But guess the rate depends where you are keeping the boat and the rate per thousand may be banded in some way eg a lower rate per thousand for boat over £100k (just guessing based on some of the replies above).
 
Hi VP
Towergate insurance for a 12 metre boat in MDL marina (MDL discount) 120K value £541.57. Traded GJW back to Towergate the difference for same cover a little higher excess was £171 cheaper ! Next year back to GJW as new business !!!
Its a game in itself. The Best Cover is Why boat insurance but the premium is very very high.
 
Paying £6.67 per £1000 insured with Y. No claims, no drama. Pants were 40% more. GJW and others 10% less.

I stuck with Y again this year despite a further rise (5% this year, 5% last year), but may not continue in the longer term if prices continue to rise.

My main motivation for thinking of a move though is not solely down to price - someone I know quite well recently put in a total loss claim and has been handled rather badly by the loss assessors, with very little support from Y, his broker. Despite previously believing the hyperbole about Y being very much front and centre when sorting out any claims, apparently they have not been very helpful. Nothing unusual about the claim from an insurer's perspective so far as I can tell, but that isn't really the point - the point is about how much help Y have been. Not much apparently. Shame.
 
Paul
I am paying just short of £1200 with Y insurance. £250000 value Brest Elbe coverage. Pricey yes but no quibble on claims had a bad year last year with underwater damage props and crane out in Belgium. Needed a further crane out and shafts and P brackets doing to cure a vibration due to the first incident. As you know (you did the repairs) no quibble. Just this month I sent my Transceiver and Ray 90 back to Hudson's to be reprogramed and the couriers lost it. Y was looking at the claim sympathetically when the couriers turned up with it three weeks late. Will stick with them for the peace of mind.
 
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