Yacht insurance

[Sneaky Pete]

Hi all. Been searching for insurance quote for yacht, GJW direct has given me one quote of £641. Came across another company "Quest", has anyone used them or know much about them
 Thanks

 

[Biggles Wader]

Hi all. Been searching for insurance quote for yacht, GJW direct has given me one quote of £641. Came across another company "Quest", has anyone used them or know much about them
 Thanks

Don't forget to read the small print!

 

[Sneaky Pete]

Don't forget to read the small print!

I'll take it that's a no then.

 

[Tranona]

I'll take it that's a no then.

Your post is displayed in such small print it is almost impossible to read, but I think you are asking about "Quest" as an insurer. This company is not active in the leisure market being part of a much larger group specialising in superyachts where I suspect they are a broker rather than a insurer.

There are plenty of active yacht insurers, some brokers, others part of insurers selling direct. However it is a very unsettled market at the moment with many changes in ownership or consolidation going on. GJW which you quote has just been bought and some observe that there are changes to their policy. I am insured with them and wait to see what they offer at renewal in October.

In such a fluid market the only sensible way to get insurance from scratch is to seek quotes from as many providers as you can and read what is covered in their policies to check that it meets your needs. There is a lot of variation in the detail of what is covered and particularly the value that is set at the maximum payable. GJW, HKJ, Admiral, Bishop Skinner, Craftinsure, N&G, Topsail are just some of the names that crop up here - but a quick Google will find more, many off which will give on line quotes if the boat and situation is "ordinary"

 

[Boater Sam]

If it is such a small yacht, it should not cost much!
Try Geo insurance.
Ripe have taken over loads of companies recently, GJW, Craftinsure etc. and premiums seem to have spiraled because of it.

 

[ChromeDome]

Your post is displayed in such small print it is almost impossible to read, but I think you are asking about "Quest" as an insurer. This company is not active in the leisure market being part of a much larger group specialising in superyachts where I suspect they are a broker rather than a insurer.

There are plenty of active yacht insurers, some brokers, others part of insurers selling direct. However it is a very unsettled market at the moment with many changes in ownership or consolidation going on. GJW which you quote has just been bought and some observe that there are changes to their policy. I am insured with them and wait to see what they offer at renewal in October.

In such a fluid market the only sensible way to get insurance from scratch is to seek quotes from as many providers as you can and read what is covered in their policies to check that it meets your needs. There is a lot of variation in the detail of what is covered and particularly the value that is set at the maximum payable. GJW, HKJ, Admiral, Bishop Skinner, Craftinsure, N&G, Topsail are just some of the names that crop up here - but a quick Google will find more, many off which will give on line quotes if the boat and situation is "ordinary"

Indeed.

As not much is standard, you need to close read terms and conditions to find the pros and cons in addition to the usual financial aspects.

I'd suggest you decide your requirements and send an identical request to as many companies as you bother to read answers from (ie. one email sent to all as bcc: )so they do see other recipients. Then see how they score.

 

[Boathook]

If it is such a small yacht, it should not cost much!
Try Geo insurance.
Ripe have taken over loads of companies recently, GJW, Craftinsure etc. and premiums seem to have spiraled because of it.

Geo have taken over Navigators and general at the beginning of the year. Seems the whole marine insurance has been sold and bought recently.

 

[Sneaky Pete]

Your post is displayed in such small print it is almost impossible to read, but I think you are asking about "Quest" as an insurer. This company is not active in the leisure market being part of a much larger group specialising in superyachts where I suspect they are a broker rather than a insurer.

There are plenty of active yacht insurers, some brokers, others part of insurers selling direct. However it is a very unsettled market at the moment with many changes in ownership or consolidation going on. GJW which you quote has just been bought and some observe that there are changes to their policy. I am insured with them and wait to see what they offer at renewal in October.

In such a fluid market the only sensible way to get insurance from scratch is to seek quotes from as many providers as you can and read what is covered in their policies to check that it meets your needs. There is a lot of variation in the detail of what is covered and particularly the value that is set at the maximum payable. GJW, HKJ, Admiral, Bishop Skinner, Craftinsure, N&G, Topsail are just some of the names that crop up here - but a quick Google will find more, many off which will give on line quotes if the boat and situation is "ordinary"

Yes, original message from phone, it’s not good.

They, quest, sounded like a broker on phone offered a price with a good discount which set alarm ringing. As you have stated ill email around for quotes and compare with GJW.

 

[Babylon]

Ripe have taken over loads of companies recently, GJW, Craftinsure etc. and premiums seem to have spiralled because of it.

My GJW renewal has just come through with a 38% hike in premium!!

This is ridiculous. Nothing has changed, no claims ever, location and mooring the same, no changes to vessel, cruising grounds, etc.

Can anyone recommend an insurer not owned by Ripe..?

 

[Graham376]

Geo have taken over Navigators and general at the beginning of the year. Seems the whole marine insurance has been sold and bought recently.

Renewal came through at nearly 20% increase although no claims. Just spoken to them on the phone and got the price down a bit. Couldn't find anyone else to cover our situation except Pants who were considerably more expensive.

 

[Tranona]

Renewal from GJW up 12% but as it was substantially cheaper last year than the other 3 I got quotes from will be renewing.

 

[wonkywinch]

I'd suggest you decide your requirements and send an identical request to as many companies as you bother to read answers from (ie. one email sent to all as bcc: )so they do see other recipients. Then see how they score.

If you BCC, they won't see other recipients, only the person you put in the TO and CC fields. Also BCC is the easiest way for your email to get trapped by a spam filter and never get seen.

 

[Babylon]

My GJW renewal has just come through with a 38% hike in premium!!

This is ridiculous. Nothing has changed, no claims ever, location and mooring the same, no changes to vessel, cruising grounds, etc.

Can anyone recommend an insurer not owned by Ripe..?

With profound apologies! I made a mistake! I compared the boat's renewal figure to last year's pontoon premium, the actual boat increase is a much more moderate 7%.

 

[WDJ]

I had a nearly 20% increase, after speaking to them at the boat show, they said it was a issue with software change, they eventually reduced to same as last year, but now gone to Visicover as it was nearly 50% cheaper for like for like cover