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Nauticat43 said:
I've been using Hayes Parsons in Bristol for the last 10 years and they have always been very helpful.

Apparently they are independent so have access to the whole market
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That worries me because they tend to choose an underwriter on price not coverage. Diameter of umbrellas and all that. If they were choosing purely on quality of cover they would only recommend a very short list of underwriters, and wouldn't bother with the others.

Access to market is nothing to shout about. We all have that, via internet
 
Nauticat43 said:
I've been using Hayes Parsons in Bristol for the last 10 years and they have always been very helpful.

Apparently they are independent so have access to the whole market
Click to expand...

Welcome to the forum N43, interesting first post. In the last few minutes I've had an email from Y inviting me to renew my boat insurance, so I took a look at the website of the organization you recommend, no mention that I can see of boat insurance.

Thanks to JtB seems it's quite obvious, I wasn't looking hard enough;)
 
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Been through the "looking for an insurance that covers what I need and that I can afford" experience this year.
I decided on Y Yacht. You can read why here
 
After reading JFM's advice on DeNovo I thought I would give GJW a ring and see what they could do on premium,

I told them what DeNovo had quoted, They said they would call me back after an hour , True to their word they rang back and surprise surprise they had reduced their premium by a 1/4 to match Denovo. All I had to do was increase excess from £250 to £500 I have renewed with GJW . Seems that first offer is not their best .
 
I wish you well Ian but I just checked and the "awful clause" I mentioned in post 13 is still present in the 2017 GJW policy. Clause C1(iv) on page 9. Each to their own but I would never accept that clause. It means in event of total loss they do not have to pay the agreed sum but can instead find a similar 2nd hand boat, buy it and give it to you, and it is expressly stated that the replacement boat need not be as good as the one you lost. Specifically it need only be "of similar age, size, type and condition. Should we exercise this option it is acceptable that the appearance and condition of the vessel shall not be exactly replicated." So it can be a bit smaller, older and shabbier. Niiiice. I would never buy this and imho GJW belong firmly on the bad guys list if you have nice boat. It baffles me why anyone would buy this policy when others like Y don't have this clause and just contract to pay the agreed value in money.
 
I am at the stage of renewing my policy with Pantaenius. They are forcing me to make a third party liability policy of EUR 6.000.000. I think they charge about EUR 1.600 for that. I find EUR 6.000.000 too high and wanted them to reduce this to EUR 3.000.000 (and save EUR 800). They did not accept that and told me that it is a fixed amount. Do you know at which merits is the third party liability amount determined? Do your policies also have such high third party liability amounts?
 
jfm said:
I wish you well Ian but I just checked and the "awful clause" I mentioned in post 13 is still present in the 2017 GJW policy. Clause C1(iv) on page 9. Each to their own but I would never accept that clause. It means in event of total loss they do not have to pay the agreed sum but can instead find a similar 2nd hand boat, buy it and give it to you, and it is expressly stated that the replacement boat need not be as good as the one you lost. Specifically it need only be "of similar age, size, type and condition. Should we exercise this option it is acceptable that the appearance and condition of the vessel shall not be exactly replicated." So it can be a bit smaller, older and shabbier. Niiiice. I would never buy this and imho GJW belong firmly on the bad guys list if you have nice boat. It baffles me why anyone would buy this policy when others like Y don't have this clause and just contract to pay the agreed value in money.
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That is crazy, I guess its a numbers game, a lot of people do not follow forums or read insurance policies properly.
For me, when it comes to the boat, cutting corners on insurance, maintenance etc. is like playing Russian roulette.
Dangerous even if only risking the wrath of SWMBO whilst floating about (hopefully) waiting for help !!!
 
When I spoke to GJW they are in the process of re writing their policy to remove the clause about giving you an alternative boat in lieu of paying and until then are happy to give you letter/email to confirm you would be paid the sum insures in the case of a total loss so they are aware and doing something about it
 
Boat2016 said:
When I spoke to GJW they are in the process of re writing their policy to remove the clause about giving you an alternative boat in lieu of paying and until then are happy to give you letter/email to confirm you would be paid the sum insures in the case of a total loss so they are aware and doing something about it
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Hmmm. They are aware because I told them when they asked me why I was grumbling about their policy, around 9-12mths ago. The letter (if correctly done) is fine for those who have it. For the vast majority I expect who don't have it or don't stumble across the point, their policy remains crummy imho.
 
The law on vessels entering Italian waters changed in the summer.
It is my understanding a requirement for all vessels to have a minimum of Euro 6,070,000 third party liability insurance cover whilst in Italian waters
Why did Pantaenius fail to advise and issue the new legal document known as an Italian Certificate.
I was not aware of this law change until my insurers Nautical without prompt sent the new documents explaining .
There was no request for any payment .
The law you are unable to change insurers you can.
 
Eren said:
I am at the stage of renewing my policy with Pantaenius. They are forcing me to make a third party liability policy of EUR 6.000.000. I think they charge about EUR 1.600 for that. I find EUR 6.000.000 too high and wanted them to reduce this to EUR 3.000.000 (and save EUR 800). They did not accept that and told me that it is a fixed amount. Do you know at which merits is the third party liability amount determined? Do your policies also have such high third party liability amounts?
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Eren, I agree with sandyshore. Y insurance increased my cover to €6,070,000 while in Italian waters, with no extra charge. However, my normal 3rd party cover is GBP5m, which they offered and I accepted without discussion. The premium is competitive and less than I used to pay to pantaenius, and Y gives better cover. I must say that €800 premium for an increase from 3m to 6m seems very expensive. Remember that the second 3m should cost MUCH less than the first 3m
 
longjohnsilver said:
Welcome to the forum N43, interesting first post. In the last few minutes I've had an email from Y inviting me to renew my boat insurance, so I took a look at the website of the organization you recommend, no mention that I can see of boat insurance.

Thanks to JtB seems it's quite obvious, I wasn't looking hard enough;)
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http://www.hayesparsons.co.uk/marine

It is there but I agree it's not overly obvious! I've had a few unfortunately incidents over the years and their claims team have always assisted me very well.

I did recently change my boat and they recommended I switch cover to an alternative provider which had a better appetite of insuring Nauticats.
 
Thanks for your input with regards to third party liability. Y-insurance cannot provide a policy as my boat is US flagged. I will have to dig the market a bit more.
 
They wouldn't insure my boat. Nor would a few others.
But they still pester me with emails every now and then !
 
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