Wooden boat insurance renewal....yikes!

[Neal]

I today received my renewal notice from Pantaneius. and was shocked to see the premium has more than doubled from last year. They are asking for £624 for an insured value of £24000. Additionally they want to increase the excess.

Now, including sailing dinghies, I have never claimed a penny in over thirty years of coastal pottering and cruising, and feel sure there must be a better option.

One might be to go third party only, but I am reluctant to go that route at present.

All sugestons gratefully received.

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[ccscott49]

I know they are getting expensive, wont even insure most wooden boats from before 1971. You'll just have to shop around. i renewed mine with them, after a re-valuation, mine costs £3000. Try that!

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[Mirelle]

I seem to remember reading, quite recently, that Pantaenius, specifically, have changed their underwriting calculation in the last few months in an attempt (probably quite sucessful) to discourage wooden boats. Shop around.

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[Neal]

Suggestions welcome, as well...NM

*

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[polarity]

not just wooden boats either, I was told (by them) that they dont want to insure anything over 30 years old. So they have doubled or trebled all the premiums for renewal and refuse to quote new enquiries. - Worked for me!
I assume this is based on some form of statistics and not just blind prejudice!

Paul

<hr width=100% size=1>Paul
<A target="_blank" HREF=http://www.polarity2.com>http://www.polarity2.com</A>

 

[rwoofer]

I've been shopping around for a 9 year old GRP boat and they were 70% more than anyone else. Maybe they're trying to get out of the yacht business?????

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[Mudplugger]

Had similar problems with "oldish" GRP Westerly 33.....Premium increased by 30%. , and having sold, was declined new purchase (No Building Risks) Tried .........K.C.Powell & Partners Ltd. 01 702 470035. 50, Broadway, Leigh-on-Sea,Essex. SS9 1AG.

Very helpfull guy by name of David Webb sorted everything out in a few minutes.

<hr width=100% size=1>Tony W.

 

[Guest]

KC Powell ..... you beat to it !!

Always had a very good deal and people who understand ....


<hr width=100% size=1>Nigel ...
Bilge Keelers get up further ! I came - cos they said was FREE Guinness !
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[Gunfleet]

David Webb is v good and a long-standing sailor too... which probably explains why he understood properly what you wanted.

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[Jools_of_Top_Cat]

In the car market people with classic cars get preferential rates, based upon the assumption that said owners take better care, less risks, give more attention to mainenance, enjoy and take pride in their much sought after cars.

So why not classic boats, all the owners of classic wooden boats I have ever met accept that they are only looking after her for the next owner.

It does seem ludicrous to me, since this is a small market, and with regular surveys, shouldn't each insurance request be dealt with on an indivudual basis. For instance, when surveyed, and said survey says an excellent example of her age with obvious mainenance kept up with, owner should be chosing best rate rather than begging for a company to seemingly take pity.

At this rate our boating heritage and quality of boats in marinas and anchorages is going to become very dull indeed.

<hr width=100% size=1>Julian

<A target="_blank" HREF=http://www.topcatsail.co.uk/TC_IrishCruise_2003_00.html>Irish Cruise</A>

 

[spark]

Re: Suggestions welcome, as well...NM

I have just insured a new wooden boat - value £70k - for £680 which includes 12 months on swinging mooring and single-handed. I complained because I thought it was a bit dear but paid up because I was struggling to find an alternative.

I got this through Giles Insurance Brokers - 01294 315481
Can't remember who the insurer is (haven't got the docs yet).

<hr width=100% size=1><A target="_blank" HREF=http://www.qei.co.uk/spark>http://www.qei.co.uk/spark</A>

 

[ianwright]

Patin whatsit have gon off wooden boats, go to Groves John and Westrup, they are very fair to me. PM me if you like with your address and I'll send you an 'introduction' form,,,,,,, then GJW will knock a few qid off my next premium.

IanW.

<hr width=100% size=1>Vertue 203, Patience

 

[tillergirl]

Try Nautical Insurance Services, Leigh-on-Sea. Been with them for 13 yrs for a 1964 wooden sloop insured for £32000 for halve what you're quoted. But then I might get another shock in January when it's due!

I just wonder whether the market place is full of claims from older wooden boats. I just don't think so.

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[bob_tyler]

Re: KC Powell ..... you beat to it !!

KC Powell - first class service and very reasonable

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[Heckler]

just gave him a bell about my bene 351, he was a £100 cheaper than what i have been quoted for renewal
stu

<hr width=100% size=1>http://www.beneteau-owners-association.org.uk

 

[Birdseye]

Obvious difference between classic cars and boats Jools - the former are used lightly, usually garaged (when there is little risk except theft), have mainly cheap spares available (bits for my Stag are much cheaper than for my everyday car) and tend to be used gebtly.

Classic boats are expensive to repair (partic wood), used just the same as new boats, in the water just as long as new boats.

Easy to see why they should cost a bit more to insure. Mind you, the Pantaneus price hike is a different issue and has been covered several times before. There has been a takeover, new management, and now what looks like cherry picking of the best risks. Their priviledge (?)

In insurance, loyalty doesnt pay. Shop around every year - certainly on modern boats you dont have to have a survey every time you change. Quite often, you will find a different broker giving you a better price from exactly the same insurance company. They all offer "introductory discounts" though they dont usually tell you so.

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