Insuring a borrowed boat

[ridgy]

Looking to do a yacht race (several days but only cat 3) on a borrowed boat and so far can only find 3rd party insurance.
Wondered if anyone knows of a broker or scheme that would offer racing risks for a specific event.
Nothing exotic, typical 40 foot AWB.

Deliveries either side are covered by owners insurance.

 

[awol]

Probably easiest to extend the owner's insurance to cover the race.

 

[Sandy]

Contact your own insurance company and discuss.

 

[AntarcticPilot]

I was under the impression that in general, you can't insure an asset you don't own. I know there are exceptions, but in this case, I'd have thought it was up to the owner of the boat to insure it. My insurers are quite happy for me to lend the boat to friends and family, as long as it isn't a commercial transaction - I've checked that because when she was in Scotland I did just that on a couple of occasions.

 

[ithet]

My boat is insured for any 'Competent Person', I thought this was standard.

The exact wording is (GJW):

"It is a Condition Precedent to our liability under the Policy that when the Vessel is underway you or another competent person will be on board and in charge of the Vessel at all times."

PS - just read your post again. I think you will be best to get owner to extend for one off race insurance extension (I have done this) and pay for that. My previous insurer told me that the hull was covered during racing anyway, but that the extension was to cover sails and rig.
PPS - Just checked current insurance and same applies.

 

[Tranona]

As you say, that is a pretty standard clause. However the OP wants insurance for racing, which is usually additional cost and quite possible the owners insurer will make it a condition that the owner is on board for racing. They may then also consider him not being on board depending on the experience etc of the skipper, with almost certainly an extra premium and conditions.

 

[ithet]

As you say, that is a pretty standard clause. However the OP wants insurance for racing, which is usually additional cost and quite possible the owners insurer will make it a condition that the owner is on board for racing. They may then also consider him not being on board depending on the experience etc of the skipper, with almost certainly an extra premium and conditions.

Yes, now added a comment to my post about Racing Risks. To add, the only exclusion on my insurance for racing is sails and rig - hull and third party etc are covered normally during racing, and for any competent person.