I used the company about the same time as Webcraft, simply because they required no survey. Although i have not claimed for anything, i recently sold my boat and they refunded the remaining premiums no problems at all. I then asked them if they were able to insure me when I move to the med, they said they had an agent in Spain and it would be easy for me to re-insure there. As far as I am concerned I would use them again.
I am insured with Northern Reef SA for my current boat through their European Agent EDward William Marine Services SL, who were DRL Mrine if Norwich (same Guy). I have had no problems with them (but no claim), and they have quoted me for the new Jen 35 much cheaper than others (more than 200 quid actually), and on a swinging morring. They are quick and courteous, and are doubling up on my cover until I find a buyer for my current boat, and not affecting the no claims on either. Bargain.
I checked their policy wording, and it conforms to all the standard clauses found, without the restrictions. They also seem to be able to offer the single handing thing, but not sure about night.
340 quid comprehensive for my new one, inc 12k worth of personal gear, new for old. Brest to the Elbe.
They are registered in Uruguay as it happens, in a Montevideo address. The website says nothing really.
Marine & Commercial Insurance Services Ltd
01206 382435 fax 01206 386134
personal service with policy tailored to suit u
no more expensive than others, single-handed ok
I have to declare a connection to the insurance industry, however nothing at all to do with insuring boats.
In my experience, insuring with companies based overseas is fraught with danger, especially one based in Uruguay, using an agent in Spain!!! They may be willing to pay up for a small claim, to avoid bad press and keep a few clients sweet, but consider what would happen following a large claim. Will everyone disappear? If they do, who do you turn to? I suspect that the police in Uraguay will have little sympathy with a British yacht owner.
The Financial Services Authority regulate anyone providing insurance in the UK, and offer a dispute resolution and compensation scheme if anything should go wrong with a regulated company. Northern Reef, Edward Wiliams or DRL Marine are NOT regulated by the FSA. What does this say about them?
There are plenty of well-known insurers, operating in the UK, who can offer cover. Yes they might ask for a survey, yes they might charge slightly more, but usually for good reasons. Ultimately they are operating within the UK legal system and will not disappear if things go wrong! How many times have you heard the presenters on Watchdog say "if something sounds too good to be true, it usually is"?
Lets hear from anyone else who has had dealings with with DRL, or Northern Reef. Am I wrong about them paying big claims?