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boat insurance

  • #1
    Registered Users Posts: 139 ✭✭ willciviceg5


    Hi all, has anyone any recommendations for my first boat insurance and any tips on what I should be looking for in a policy?


Comments



  • No advice on details except that think of all you will be doing (or likely be doing) with the boat and make sure it's covered!

    We've been with Allianz since we got our boat and they haven't seen us wrong - had a few claims over the years, big and small, and they were all speedily dealt with, and the premium seems like incredibly good value compared to car/house insurance!




  • In addition to HH's points valuation also is a factor - how much are we talking about and where will the craft be moored? Will it be in the water all year round? Swinging mooring or marina? If it's a yacht will you be racing? Have you any qualifications/ courses done? Allianz and RSA hold the bulk of the marine market, both good to deal with, but usually through a broker. Allianz took over AGF which took over Insurance Corporation of Ireland which was founded before WWII to insure Irish Shipping, hence the market share.

    There is no point in buying insurance because it is the cheapest - you want an insurer that will pay out when you have a claim.




  • Be aware of any "new for old" clauses, it can see your claim award being reduced significantly, in my case a 3k claim was reduced to about 1400 on a 7 year old boat with Yachting24




  • In addition to HH's points valuation also is a factor - how much are we talking about and where will the craft be moored? Will it be in the water all year round? Swinging mooring or marina? If it's a yacht will you be racing? Have you any qualifications/ courses done? Allianz and RSA hold the bulk of the marine market, both good to deal with, but usually through a broker. Allianz took over AGF which took over Insurance Corporation of Ireland which was founded before WWII to insure Irish Shipping, hence the market share.

    There is no point in buying insurance because it is the cheapest - you want an insurer that will pay out when you have a claim.

    The value will be around €17000 including equipment.
    Moored on the Barrow for summer months only and then stored in a yard, no formal qualifications, but will be doing ISA level 2 as soon as time allows, its a sports crusier so no racing.




  • have a look at this site http://www.craftinsure.ie/


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  • The value will be around €17000 including equipment.
    Moored on the Barrow for summer months only and then stored in a yard, no formal qualifications, but will be doing ISA level 2 as soon as time allows, its a sports crusier so no racing.
    Craftinsure mentioned above is an underwriting agency for Zurich Insurance,, which effectively means Zurich has given them the power to underwrite on its behalf. They deal direct so it’s worth getting a quote. In your position I’d simply ask my broker to get quotes from the market– it’ll cost you no more(and open more doors) and the broker will do the work. If you have a powerful engine the premium should be cheaper when you get your cert.

    FWIW I was with RSA for years (co-owner had a link), we had one claim, settled promptly and without hassle; I'm with Allianz now / different boat and because they were cheaper/had a better package.:)

    All three mentioned have good ratings from the main rating agencies, although I'd favour Allianz or RSA due to local experience.




  • https://yachtsman.ie/home.html

    I’ve been with these guys for years. I’ve never thankfully had a claim so can’t comment on that. I’ve found it hard to get anyone to cover any boat over 30knots but they will and they’re flexible about coverage needed and what experience and qualifications they’ll accept . e.g. I’m Dive Cox qualified rather than Powerboat Level X. They also allowed me register a swinging mooring.




  • I use craft insure and have nothing bad to say about them they were a great help when I lost my boat :( and didn't load me when I insured my next boat.






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  • Most of us Dinghy Anglers (Warrior 175 and suchlike) are insured with Porthcawl Insurance in the Uk. They have various policies to suit and they are competitive. They also have a good name for customer service when there is a problem.




  • we have used Yachtsman Euromarine for numerous years on both PWC's and a Rib on a swinging mooring and they have been quite competitive and easy to deal with. the cover is quite comprehensive and it covers toe-ables which was a main priority for us especially with the PWC.

    luckily to date we have not had to claim so I cannot comment on their compensation process!


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  • Y Insurance.

    I'll say no more (in a good way)




  • An update on this, I went with Yachtsman euromarine last year and am now up for renewal, last year it was €407.00 and this year it is gone up to €421.00!
    I just got a quote from allianz of €167.00! Is there a reason that there would be such a difference. This seems like a massive difference and I am wondering if I am missing something. I completetly forgot about my renewal and renewed today in a panic when I realised I was not covered and then got curious and got the quote from Allianz. As far as I know I have a 14 day cooling off period and will cancel the yachtsman policy if the allianz policy is comparable cover wise




  • You need to print off both policies, and read and compare the small print.

    No way anyone on here will be able to advise you in the absence of small print details.




  • HeidiHeidi wrote: »
    You need to print off both policies, and read and compare the small print.

    No way anyone on here will be able to advise you in the absence of small print details.
    I’m struggling to see any difference in the small print but I just can’t belive there could be slouch a difference between the 2.
    I’ve also gotten a quote from Amlin that I’m tempted to go with based on the recommendation from a broker, does anyone have any experience with them?




  • Just wondering if anyone has any update on boat insurance or experience good or bad with any particular companies.


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