Third party insurance?

[lindsay]

Next year my boat will be 20 years old and the insurance company tells me I will need a survey before renewal. It is an all risk policy. The boat is moored in the Mediterranean where I sail it year round and this procedure will involve at least half a dozen people trying to get money out of my pocket into theirs.

What if I changed to a third party only policy? Would this require a survey and the associated cost and hassle? I am aware of the risks and would probably be able to accept them.

Experiences would be welcome

 

[stevebrassett]

Try different insurers. They don't all require a survey - some will accept an owner's report on condition.

 

[bluevelvet]

I currently have my yacht third party with pantaenius,no survey was required.

 

[VARNE]

I have 3rd party with Basic Boat Liability underwritten by Nav.&General. £89 p.a. no survey, no messing, for any boat up to 60 ft. [ Mine is 25 year old 28 footer]

But.....restricted to north of 46 degrees north & not east of 10 degrees east..... you may have problem with Med for anything UK based.

Basic Boat phone is 08707 870030. If they won't they may know who will.

 

[PeterGibbs]

I guess a lot depends on the risks you expose your boat to. If you are sure there's little risk of being T-boned or putting the boat aground, I guess 3rd party might be a reasonable approach.
But you will be aware, that in event of a claim of any size, the insurer will take into consideration whether you have taken reasonable measures to protect the property/avoid the risk of a third party claim. It's not an automatic payout.


What you can also do is negotiate a higher excess on a policy: this will limit the premium.


There's a lot to be said for a comp policy: if you don't take a survey, you can at least keep good records of what you've done to keep the boat in good order etc - it could help.

PWG

 

[david100952]

My boat was built 1985 and SAGA insured competitively without survey - fully comp

 

[sailorman]

Hope you read very CAREFULLY the Saga T & C /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif /forums/images/graemlins/laugh.gif

 

[Billjratt]

Had Eagle Star/Nav&General for years, never been asked for a survey other than at purchase time (Kept the boats for 10yrs on avge) Notice a lot of the Med guys take 3rd pty to be legal, but the boats are quite tatty to start with.

 

[Billjratt]

so, recount the Saga

Go on, reveal all, otherwise we'll need to get schedules for ourselves, and I'm lazy. Car insurance seems OK by the way /forums/images/graemlins/confused.gif.

 

[KenMcCulloch]

[ QUOTE ]
My boat was built 1985 and SAGA insured competitively without survey - fully comp

[/ QUOTE ]Mine was built in 1948 and Saga insured her but did want a survey. I was delighted to find that when my masthead fittings suffered some damage due to clashing with the next boat in bad weather a few weeks ago, the claim was paid in full (no excess and no loss of no-claims discount for losses while at a marina berth) /forums/images/graemlins/grin.gif

 

[david100952]

I have read the SAGA T&C quite carefully but perhaps you would give me a bit more of a hint of any particular concerns. Have you had an experience that might be relevant?

 

[ex-Gladys]

What happens if you have our experience in 2006? Boat on mooring, got T-boned, £11000 of damage. Fortunately the guy who did it was an upstanding citizen, but several incidents around us have not been owned up to. 3rd party means you'd have to find that dosh

 

[oldharry]

Remember too Third Party is just that. You T bone someone else, your boat goes walkies and damages things etc, Insurance might (note 'might' not 'will') pay.

Your boat sinks, causes pollution from tanks, blocks the fairway and causes megabucks of disruption. Emergency operation to remove wreck from fairway with heavy lifting gear, divers etc, disposal of wreck. Who pays?

You do. Ok if you have that sort of money. Breadline and no boat for rest of life, if not.

Not worth the small saving IMHO.


True story about being uninsured. I had a 16ft fishing boat that I picked up for next to nothing in a sale in near derelict condition. Nice little project to put it back together and sell on for (hopefully) modest profit. Total value around £50 pre-refit.

Unbelievably, some toe rag made off with it on its trailer from the yard.

Reported to Plod who came back with a report of a derelict boat trailer abandoned in a nearby housing estate 'matches the description of yours, sir' so head off to investigate. Sure enough, there was my trailer. Walking around, spotted my boat in someones back garden, stripped down and in even worse mess than before, obviously being 'done up' by someone with no idea.

Phone calls to the Plod etc, who came back a few hours later - yes sir we have your boat in our compound at X. Work commitments meant a couple of days delay in going to collect it.

Thank you sir, here's the bill for removal, transport and storeage - £450!

Put a few zeros on those figures for a bigger boat, then tell me whether comprehensive insurance is such a poor deal?

Incidentally, a letter to the local Police Chief produced an agreement to reduce the bill to £175 as a 'special concession' but still made the whole thing a waste of time: sold on Ebay for £60 /forums/images/graemlins/frown.gif. And toerag got away with it, by claiming he had bought it legitimately.

Plods advice? 'You should always insure things like this sir'