Is this another insurance rip-off?

[mriley]

I am moving my 33 ft motor boat by road haulage from Portsmouth to Reading. The boat is 33 ft long, 5 tons, and valued at £40,000.
The maximum cover for loss/damage the haulier can provide is £2000 per ton (ie max £10,000), under Freight Transport Association arrangements. I phoned my insurance company to arrange the additional cover required, they told me that as the boat is over 30 ft long my policy would not cover it for a road move (this is a standard rule with insurance companies, they tell me), and I would need to arrange special 'cargo insurance', and the cheapest quote they obtained for this this is £199. This seems extortionate to me, for what is a short duration move lasting less than one working day. The risk can't be that high can it?
Apparently road hauliers used to be able to provide cover themselves at very reasonable rates, but the Financial Services Act put a stop to that.
Does anyone have any experience of getting insurance cover for road moves? - is there a cheaper way of doing it, or is the only alternative not to pay the excessive rate quoted and hope for the best (I am using a professional marine transport company).

 

[Phoenix of Hamble]

Hi,

I just dug out a recent quote I had from Haven Knox Johnston, for a 33 ft boat, and that covers transport by road within the UK, but not 3rd party liability while being transported..... suggest your insurers are not trying very hard on your behalf....

 

[Birdseye]

You need to shop around and push a bit. I never had to pay any extra insurance for a road move of a 33ft cat that took 4 days - thanks to Londons finest!

But I dont see how £199 can be extortionate though. Not much else you can get for that money these days. A week in a marina?

 

[LittleShip]

[ QUOTE ]
Not much else you can get for that money these days. A week in a marina?

[/ QUOTE ]
Two good batteries for the boat?? well I did today 1x 155amp & 1x120amp with enough left for 1 pint????? /forums/images/graemlins/grin.gif

 

[aidancoughlan]

I'd suggest pay the Insurance, or get the Haulier to pay it (it's not worth saving £200 with the chance of a £30,000 loss!). I had exactly the same situation recently, with the figures costing around the same. Some hauliers wont even warn you that their insurance only covers the £2,000/per ton.

If you get the Haulier to cover it, make sure that you see the documentation, or call the Insurance company to make sure. I opted to have the Haulier organise the Insurance on my behalf at the extra £200 cost - when I got paranoid the day before the move, I called the Insurance company to check cover was in place and they knew nothing about it - a few phone & fax calls later sorted it out.

I assure you, this is is good advice - Pay the money, and ** get written confirmation of the Insurance ** better safe than sorry !

 

[DavidofMersea]

Wait a minute - The hauliers will be liable if they are negligent, and whatever they say, they can't get out of it, even if you sign to say that you accept responsibility.

 

[macd]

Quite so. The haulier's insurance is simply undewriting (part of) his liability. Should any damage occur which is his fault, he is liable in the first instance, whether he's insured for the full value of the load or for 99p.