Spanish Insurance

westernman

westernman

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My UK insurance company is increasing my premium (no claims on it at all for 10 years) yet again by quite a substantial amount and insisting on a survey (with UK accredited surveyor) since it has been 10 years since the last one.

As my boat is based permanently in Spain, I was thinking about insuring it through a Spanish company. The boat is UK Part I registered and will stay so.

Any experience? Recommendations?

Is this a good idea?
 
I would get in touch with Barry at Y insurance - they are sensible, highly experienced and have the support of a lot on the forum.
I changed to them a couple of years ago - not particularly to save money (though I think I did) - but just because they were good and understand what we, as yachtspeople, want.
https://www.yyachtinsurance.com/Whoarewe.cfm
 
Poecheng said:
I would get in touch with Barry at Y insurance - they are sensible, highly experienced and have the support of a lot on the forum.
I changed to them a couple of years ago - not particularly to save money (though I think I did) - but just because they were good and understand what we, as yachtspeople, want.
https://www.yyachtinsurance.com/Whoarewe.cfm
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I talked with them, they wanted me to replace all the standing rigging.
 
westernman said:
I talked with them, they wanted me to replace all the standing rigging.
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That is a bit of a bummer on your (lovely) yacht.
If you think it is in good condition I would have a further chat with them and see what can be agreed. On mine they wanted something done and gave me generous time to do it, I didn't get round to it but discussed with them and they are fine. Depends on whether you have already had the discussion but if not, I would speak to Barry and explain your position.
I wouldn't want to be within a million miles of the weather that might bring your rig down - I have seen what I believe to be your Captain Aubrey-style additional backstays or preventers !
 
As the boat is in Spain and regularly berthed there, I presume you live there ? and this is due for renewal shortly ? in view of the current uncertainty might it not be prudent to find a spanish insurer or at least one that is based in the EU (ie not UK ) i would want to see a translation of the policy wording of course.
 
chrishscorp said:
in view of the current uncertainty might it not be prudent to find a spanish insurer or at least one that is based in the EU (ie not UK ) i would want to see a translation of the policy wording of course.
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UK insurers covered risks in EU countries long before there was an EU and will no doubt continue to do so after. There are few world companies with a reach more global than Lloyds.
Equally, the very idea of pursuing a claim in a language I don't understand fills me with dread.
 
Don't get too worried on Brexit as whatever outcome on equivalence most insurers have EC companies regulated by a variety of regulators and currently cover out of say Irish branches or Belgium registered insurers . Additionally most insurers have fronting arrangements with other insurers outside EC even if your UK based insurer was not able to cover via a sub. Most are dealing in any event with brokers in whose interest it is to find insurer panel members which can find global coverage solutions for their clients.
 
macd said:
UK insurers covered risks in EU countries long before there was an EU and will no doubt continue to do so after. There are few world companies with a reach more global than Lloyds.
Equally, the very idea of pursuing a claim in a language I don't understand fills me with dread.
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Yes I know and would strongly agree with all of that. It all depends if we crash out without a deal or indeed the terms of the deal

Found the article i was thinking of, Huw Evans ABI director general interviewed by MPs. its not just pensions, some 38 million insurance contracts could be affected.
https://www.independent.co.uk/news/...l-retired-eu-europe-theresa-may-a8461166.html

Not wishing to start a brexit war on here, simply something the OP may wish to consider :ambivalence:


Just seen Ashteads post whilst i have been typing and trawling for mine, interesting post
 
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agurney said:
To use a Spanish insurer I believe you need to have a NIE or NIF.
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I am certain that's correct. My excellent insurers https://www.yachtmasterinsurance.co.uk/index.php/contact-us know I have lived out of the UK for decades and currently Spain. I arrange a cruising area at the start of each policy and add to it as my cruising plans change.
There seems to be a vast difference between the major and impersonal brokers and independent companies as above to whom you can pick up the phone and chat to a knowledgeable person rather than someone who is just selling insurance/
 
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