warranty

gjgm said:
This just dropped in via MDL.. is this a good coverage or full of holes- I can't tell.
https://www.boatsandyachtswarranty.com/cms/documents/Warranty-Booklet-UR.pdf

Quote for engine and sterndrive was about £700 p/a.
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Looks rubbish to me. As but one example, you're not covered for: "Craft... whose Components which would ordinarily be covered by this Agreement have been customised or modified in any way from the manufacturer’s specification". That wording says you don't get paid for component A's failure if you have modded component B. That is but one example of unhelpful (or clumsy) wording; there are others
 
I can see their reasoning but has to be serviced by them, main agent or jump through hoops to prove the service agent you used did what a main agent would do.

I would imagine only good for fairly new boats where you don't do ANY servicing yourself.
 
Pricing is interesting. I punched in my details. They want £4k pa premium with maximum payout on an engine in one event or over its life of £30k, which is about 1/3 or what a full-on rebuild might cost. So I would be buying insurance that didn't cover a disaster scenario, and paying more in premium that any (say) alternator, injector, etc failure would cost me. Frankly you'd be better putting the £4k into your own "disaster fund" bank account and in 8 years you'd have more than the max payout you're likely to get on this policy. Just imho - the decision whether to insure or self insure is a personal one of course
 
jfm said:
Pricing is interesting. I punched in my details. They want £4k pa premium with maximum payout on an engine in one event or over its life of £30k, which is about 1/3 or what a full-on rebuild might cost. So I would be buying insurance that didn't cover a disaster scenario, and paying more in premium that any (say) alternator, injector, etc failure would cost me. Frankly you'd be better putting the £4k into your own "disaster fund" bank account and in 8 years you'd have more than the max payout you're likely to get on this policy. Just imho - the decision whether to insure or self insure is a personal one of course
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My numbers might be a bit smaller ;)
Still ,one needs to consider if you can cope with the day to day turmoils, and can't afford the meltdown, or can't afford either.
Tempting fate, but the only incident I have really ever had was supercharger clutch last summer, which was about £500, so £1500 a year (for two engines) seems a bit steep. Then you have the contract requirements to meet.
 
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