What's the value of my "Mast, Spars and Rigging"?

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chrisbitz

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Bromley, Kent - Sail in Medway
www.freyacat.co.uk
My insurance renewal has come up, with Bishop Skinner/Bluefin and for racing cover, I need to tell them how much my mast, spars and rigging is worth...

I've no idea (it's a '78 27ft Salty Dog) but how could I find out the answer?

I'd have imagined that they could look at other policies for an indicative cost for a generic 27ft boat mast, but no, I've got to tell them!

As a guess, they said if it was £4000, it would be an extra £40. does that seem appropriate?
 
chrisbitz said:
My insurance renewal has come up, with Bishop Skinner/Bluefin and for racing cover, I need to tell them how much my mast, spars and rigging is worth...

I've no idea (it's a '78 27ft Salty Dog) but how could I find out the answer?

I'd have imagined that they could look at other policies for an indicative cost for a generic 27ft boat mast, but no, I've got to tell them!

As a guess, they said if it was £4000, it would be an extra £40. does that seem appropriate?
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From speaking to a few folk that have replaced their rigs on 32' boats like my own it had been 7-10K so I would put at least 6K for your rig.
 
I was told the mast and rigging and sails, the interior including engine, pumps, galley, saloon furniture, chart table etc and the hull/keel are all approximately one third of the price of building a boat.
 
chrisbitz said:
My insurance renewal has come up, with Bishop Skinner/Bluefin and for racing cover, I need to tell them how much my mast, spars and rigging is worth...

I've no idea (it's a '78 27ft Salty Dog) but how could I find out the answer?

I'd have imagined that they could look at other policies for an indicative cost for a generic 27ft boat mast, but no, I've got to tell them!

As a guess, they said if it was £4000, it would be an extra £40. does that seem appropriate?
Click to expand...

Are they asking for the value of the existing rig or the replacement value?
 
chrisbitz said:
I'm not sure - the hull racing insurance is included, but mast spars and rigging for racing is extra. I can only imagine that they want to know how much they could be in for if it gets broken?
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I suggest you contact your insurance company and ask them to clarify. No point us lot trying to second guess them.
 
A mast for a 30 footer is 2k, standing rigging 1k, boom I'd guess at 1k plus a bit for fitting, say 5k total. But surely the insurer would know this anyway?
 
A lot more than you think. There's instruments, lights and a lot of work. Don't forget boom, vang, sails, running rigging as well. £2K is low for a mast of any quality. There's transport and stepping too.
 
savageseadog said:
A lot more than you think. There's instruments, lights and a lot of work. Don't forget boom, vang, sails, running rigging as well. £2K is low for a mast of any quality. There's transport and stepping too.
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Yep +1
depending on what you can re-use from the existing rig and who you go to for a new rig I doubt you would get much change from 6-7K

I believe the insurance co will want to know the cost to replace the rig rather than the other options.
 
We replaced the boom, standing rig, and sails on a 27ft boat for a total cost of about £2k. No idea what a mast costs...
 
I rerigged my Sadler 26 in 2005 with a new mast, running and standing rigging and Furlex (which alone was just under £1k ), I kept the old boom but added deck organisers(a second bank of turning blocks each side)and 4 more jammers to lead all lines aft (these together cost £300), new wiring for masthead lights and wind instrument feed(installed by Selden the mast maker), plus new Windex and the whole lot cost £4800+. I installed all the gear myself including stepping the mast and cutting the wires to length and fitting the terminal ends which were included in the price above; I have no idea what a professional rigger would charge but that too needs to be factored in.

I hope this helps, and you need to estimate on a new for old basis for insurance purposes.
 
I've always based the valuation on having all one's biggest sails up at the same time, and the whole lot goes over the side leaving you with the chainplates...

Mast, boom, spinnaker pole, standing rigging, running rigging, furler, electrics, electronics, sails + fitting, transport, etc. I recently did this as my rig was subject to a 30% excess from my old insurers. Cost of my excess came out at about 12% of the insured hull value. I've changed insurers.
 
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