Boat insurance - Fully Comp

[Simonp]

I have seen Rod's good work in negotiating a cheap premium for Third Party insurance but I am guessing quite a few members are still going the fully comp route.

Its renewal time and so I am scouting for cheaper options than GJW Direct who offer premiums that are more than I pay for my classic cars and I use them all the time! Classic boat insurance for our boats still seems extremely expensive.

Any ideas?

SimonP

[bigminiandy]

I use a broker called H V Amos base in Willenhall (midlands). They then found me a policy from Towergate insurance.

I pay just under £300 fully comp for 2 classic speed boats (one Delta V6 and one Fenn and Wood) and a 1970s National 12 sailing dinghy. The third party cover is £3million and I think the two boats are valued at £4000 a piece.

Don't really know if its good or bad but couldn't find anybody else that would insure a boat over 25 years old that has more than 25 horsepower which both the motorboats certainly have.

[Healey75]

GLW Direct have in my view, got more and more expensive, when my last renewal was due I phoned and told them it was too expensive and they took around £20 off there and then, said it was still to much so they had to refer back to the underwritters who then took another £15 off the next working day...if you don't ask etc If we all complain they might get the message.

It's worth asking what the max value you can insure for the min premium, I did this a few years back as I was just into the next price band with my values.

I don't know if any other insures will cover more than 1 boat on one comprehensive policy, that said I'm going to look at 3rd party next year

[Simonp]

Thanks for the advice - think you are right - complain loadly!

SimonP

[Rapier]

I got an ad from SAGA. They do boat insurance below:-

http://www.saga.co.uk/insurance/boat-insurance/

[Simonp]

Fantastic - called GJW Direct to complain about the renewal premium of £223.10 - fully comp and they - within 2 minutes - had reduced it to £168.40 after informing them I was in the CMBA. They said they had looked at the premiums again for the CMBA and I explained that we only used our boats on high days and holidays - many boats only being used 2/3/4 times a year with what I think is a very low risk profile. Our boat usage is very different from the normal modern weekend boat user - or club ski boat user.

Anyway I think GJW Direct go from being an avoid to a buy recommendation on the strength of the above and with Rod's good work we seem to have got affordable third party cover as well.

I tried the Boat compare insurance website and was somewhat insulted that nearly all insurance companies wouldn't even give a quote.

SimonP