Yacht and Car Insurance-- Shop Around!!

chrisgee

chrisgee

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Fed up with the annual increase for being a loyal customer for years I thought I would spend few hours shopping around for the car renewal. Thinking it was all a cartel and not expecting much I was amazed to find several better deals than my present bunch of robbing s--ds.
By changing to the Nodding Dog lot my premium for virtually the same cover went down from £500.00 to £268.00!!!
As the boat cover is also due soon I thought I would do the same again.
Most quotes ( that`s when they could even bother to reply) were around the £550 to £600pa. I was then amazed to get a quote from Bishop Skinner for the same cover for the princely sum of £400.00pa a saving of around 30%.
Moral must be SHOP AROUND!!!!!!!! I wish I`d done this last year.
 
Well, it's difficult to argue with a low cost but, and I hear the arrows let loose even now, cost is often a measure of product quality and a judgement has to be made at some time. So, some years ago, I opted for the company that has as it's slogan 'Don't buy the cheapest, buy the best', and the more that I use this measure of product suitability, the more satisfied I am with purchasing decisions and the move away from cheap. It doesn't mean that I pay more for these things, it means that the better value I get from the deal.
The appeal of low price is forgotten when the quality of low price is felt. There, that's my ha'pennies' worth.
 
Can only agree with allanc - any type of insurance is based on a promise to pay if certain things happen and the proof of value is only when you come to claim.
Generally speaking, the premium is reduced because the scope of that promise (and/or the service in the event of a claim) is less than the more expensive products.
It can be very hard to truly compare one product with another when taking such things into account as detailed policy definitions, exclusions, cruising range, restrictions on short-handed sailing, racing etc.
There is far too much emphasis on the cheapest possible price and maximum savings available in most insurance advertising these days.
Use a good broker or be prepared to look very carefully before you select something just on price - there is often a very good reason why it is cheaper. If you don't have to make a claim then great - the money saved pays for a celebration. However, I would rather have something that I can rely on as and when I have to claim, even if it costs a bit more in the first place.
Yes - I confess that I am an insurance broker but I do not get involved with marine or yacht insurance except as a buyer for my own boat.
 
Agree about the "don't buy the cheapest..." our pet insurance is with Tesco, put a claim in Jan 24th for £800 and rang them today. "We are just opening the post from the third of January so it will be about three more weeks before we even get to opening you claim letter"
Still at least they pay out regularly.
 
I do take your point about buying the cheapest - it`s not something I would normally do -- but were are hardly talking about small fry here -- I believe that Bishop Skinner actually insure the RNLI! As for Churchill time will tell but in my experience paying top dollar these days is still no guarantee of better service.
 
How do you reckon this then.....

Kwik fit last year, new customer, £360 (down about £140 from Privilidge...) this year Kiwik fit renewal offer, £550.....call em on the phone, they can knock off 5%.....

So go on line, Kwik fit online offer.... £360.

Take cheapest with simular cover for £330 from Esure...

That first year offer is clearly a sweetener, if you are prepared to shop around every year then the lesson is you will save, even on identical insurance.
 
OK then, last year I paid about £290 for my MF625 without personal effects cover. 'Cover My Boat £134, £80 excess and £1000 personal effects. So, is it a no brainer or am I missing something (current insurance from someone in Lymington high street, can'tr remeber their name). /forums/images/graemlins/confused.gif
 
[ QUOTE ]
I do take your point about buying the cheapest - it`s not something I would normally do -- but were are hardly talking about small fry here -- I believe that Bishop Skinner actually insure the RNLI! As for Churchill time will tell but in my experience paying top dollar these days is still no guarantee of better service.

[/ QUOTE ]

Worry not Chris! Bishop Skinner are an excellent insurance company run by sailors but backed by AXA. I have only had one claim with them which, after three emails and two phone calls, was paid in full within three days!

I've been with them ever since they first took over the RYA 'mantle' and have had terrific help and very fair rates from them while cruising UK/Europe and the Med/Caribbean.

You are simply doing what many others do and getting top quality service at a very competitive rate - a win-win if ever there was one!! /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif /forums/images/graemlins/smile.gif

No connection etc etc
 
I've been insuring boats on and off since the sixties -- never had a claim. Should I opt for the expensive one in the hope that they pay out quicker? .... Ummm? .... /forums/images/graemlins/confused.gif
 
[ QUOTE ]
I've been insuring boats on and off since the sixties -- never had a claim. Should I opt for the expensive one in the hope that they pay out quicker? .... Ummm? .... /forums/images/graemlins/confused.gif

[/ QUOTE ]

Yes it will allow them to settle another claim, that should make you feel better.
 
Cover my boat are new to the market and so are trying to 'buy' market share with very aggressive premiums. This is fine for the customer unless one of their clients has a whopping claim...then, because the pot of money they have earnt for underwriters will be smaller due to the aggressive premiums, all their clients could see a premium increase.

Surely consistency is better than dirt cheap one year and less cheap the next?
 
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