boat Insurance

Ned_led16

Hi there

Whats the best comp to insure with.
Will they cover me if my outboard is stolen - or i hit a rock or sink the boat?
Boats worth about 8000

What do they tend to cover and not cover. i guess they never want to pay out and are a pain to deal with! Just so i can make a decision as to go for it or not

many thanks

fergal.b

I am with Allianz and a basic break down would be.

Storm damage up to the maximum value you insure for.

Theft damage up to the maximum value you insure for.

Accidental damage ...........................................


Fire damage ...............................


Malicious damage .....................

Legal liability to third parties € 3 million.


Tell the truth when you fill out the form, if you are going to do water sports let them know "it will hurt":eek: if your boat can do 40 knots don't tell them it only does 17 knots, the guy I deal with knows his stuff when it comes to boats so don't think you can pull the wool over their eyes

Ned_led16

Cool thanks fergal! as always your of great help! how much should i pay for the year? 300-400?

fergal.b

Depending on the size of the engine and what the boat is used for where you keep it a value of € 8000 will be €100 - €300 they do take into account if you have done a powerboat course and if you are the member of a club like IWAI.
Best thing to do is just give them a ring for a quote.
Good luck with it.

HeidiHeidi

Hi OP, we have a sailboat insured for about the same amount. We're with Allianz, and as we race the boat, there's inevitably a claim nearly every year. There has never been any problem whatsoever with Allianz (not an employee, and don't mean to be promoting them necessarily, but from what I can tell they have the marine market pretty much sewn up). Cover (including massive 3rd party liability for racing, can't remember how much but it's in the millions) is about €400-odd per year, the only caveat is that any claim for damage/injury while racing will be only paid out at 75% (I think).

We've found them fine to deal with over the years.

And they did indeed cover our outboard when it bounced itself off the transom, or the bracket broke, not sure which, and sank to the bottom of Dun Laoghaire harbour

Ned_led16

Interesting so the only thing it doesnt cover is

(1) If the engine has a manufacturing fault (if no guarantee your screwed)
(2) If you dont look after it properly - through stupidity or mistake.
If engine is 5 yrs old but only used 3 hours what would they pay out if it was stolen? mercury 115 hp 2 stroke? you would hardly get a brand new one??

Jim from Cork

A lot of us anglers use Porthcawl Insurance. http://www.porthcawl-insurance.co.uk/
They also run this site:
http://www.insurance-4-boats.co.uk/

martin6651

What about self build boats. I have checked some sites and they all ask for make but my make is not included.

fergal.b

martin6651 wrote: »

What about self build boats. I have checked some sites and they all ask for make but my make is not included.

Mine is a self build

foghlu77

I have a 25 ft angling boat with diesel inboard and moorings but am finding it hard to get insured because (a) it doesnt have a badge so don't know what make it is and (b) it hasn't been surveyed professionally due to the cost, 900 euro!!

Does anyone have any advice please?

fergal.b

Most boats over 20 years with a value of €20.000 or more need a survey report and
boats over 20 years with a value of €10.000 - €20.000 need a condition report.
A lot of companies won't touch swing moorings in different places around Ireland so you will have to check with each one.
If you post a photo of the boat someone might be able to ID it and tell you when it was made.

Not much help I'm afraid, there is nothing cheep about boats.




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ValerieR

Some insurance companies insure boats on swinging mooring, but only in the 'good' season ie. from March/April until the end of September. Some others cover until the end of October.
We use Aquabroker in Galway (disclaimer : not related to this company in any other way than being a customer).

V

foghlu77

Do you know if a condition report is cheaper than a survey report and does it stil need to be an engineer?

fergal.b

foghlu77 wrote: »

Do you know if a condition report is cheaper than a survey report and does it stil need to be an engineer?

It will be cheeper as it's not as detailed, you will still have to have all your safety equipment up to date, fire extinguishers, flares,life jackets,radio and so on.

Some insurances companies have their own list of surveyors that they like to use and that are fully qualified.

Best thing to do is just ring around the insurances companies and see what they say if you drop the value of the boat they may not ask for a report, a lot of guys are now using UK companies.
Best of luck.


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Daibheid

Ned_led16 wrote: »

Hi there

Whats the best comp to insure with.
Will they cover me if my outboard is stolen - or i hit a rock or sink the boat?
Boats worth about 8000

What do they tend to cover and not cover. i guess they never want to pay out and are a pain to deal with! Just so i can make a decision as to go for it or not

many thanks

I'm with Euromarine - very good to deal with although -touch wood- never had a claim. Lots of companies won't touch fast 20+knots. They make it very expensive in terms of doubled excesses etc on things like striking underwater objects to encourage you to mind your prop and won't cover the engine above a certain Hp unless it's secured to the boat and serial ~ notified. A wheel clamp is mandatory on the trailer.
Watersports are extra as is skiing/wakeboarding and swinging mooring use. Must be in an approved area or pre-approved specially. Boat must be out of the water overnight out of season.
That's a summary of a policy book!

fergal.b

Daibheid wrote: »

I'm with Euromarine - very good to deal with although -touch wood- never had a claim. Lots of companies won't touch fast 20+knots. They make it very expensive in terms of doubled excesses etc on things like striking underwater objects to encourage you to mind your prop and won't cover the engine above a certain Hp unless it's secured to the boat and serial ~ notified. A wheel clamp is mandatory on the trailer.
Watersports are extra as is skiing/wakeboarding and swinging mooring use. Must be in an approved area or pre-approved specially. Boat must be out of the water overnight out of season.
That's a summary of a policy book!

I wonder what they charge for a home made box with a 350 hp V8 twisting and splintering at 100 MPH

Daibheid

fergal.b wrote: »

I wonder what they charge for a home made box with a 350 hp V8 twisting and splintering at 100 MPH

I'm sure if it has a reputable makers name plate with CE approval on it there'll be no problem:D

To be fair to them, they were Yachtsman insurance in Killaloe when I started with them and even after becoming the more corporate looking Euromarine they seem to retain a bit of commonsense when it comes to discussing individual needs so worth a phone call if you do want to insure that work of art.