Boat Insurance Cautionary Tale

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Boat Insurance Cautionary Tale

Postby kgarla » Sun Oct 08, 2017 6:49 pm

Dear All, I had a call from Ken S a couple of days ago regarding an apparent change in conditions regarding his boat insurance. He wanted the tale spread to ensure it doesn't catch anyone out, so please see the below.
Hello again Nigel. Details re our discussion as promised:

Some years ago I was recommended to the Basic Boat Liability Co who offered third party only insurance policies covering the insured not the boat. My understanding was that the insured would be covered for the category of boat. In my case:
“Craft over 17 knots and used solely on UK inland and coastal waters including interconnecting tidal stretches for direct access to inland navigational systems, inland lakes and reservoirs.”
The cover was for the insured and not the boat – no details of the boat being required providing that the boat in use was within the insured category – category 2 in my case which covered both my Delta Sports and Alice the little cruiser. It was explained to me and accepted by me that only one boat could be used i.e. in the water at any one time and that the cover was third party only.

However when I renewed by telephone I was told that needed a separate policy for each boat – in my case two and was offered a 10% discount for the second policy.
This is not how the policy was originally presented to me and would infer my previous years of insurance invalid. I had been told and had understood that it was the insurance covered the insured and not the boat. Needless to say I am very uncomfortable about this and suspect that other Association members who may be with Basic Boat Liability will be affected. My contact at Basic Boat is a chap by the name of Chris. There could be serious consequences should it fall the wrong way in a dispute!

Best regards

Ken
Cheers Kgarla.
kgarla
 
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