Boat Insurance

Want to talk about classic motorboats, recent and forthcoming CMBA events or your latest escapades? This is the place to do it!

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broompisces
Posts: 152
Joined: Tue Feb 17, 2009 8:20 pm
CMBA Member: 768
Location: Glasgow, Scotland

Boat Insurance

Post by broompisces »

I have just been informed by my insurer that they will no longer offer marine insurance. My insurance is due for renewal on the 14th July. Can anyone advise me of an appropriate company to approach for a quote? My boat is 50 years old and I am not going to get it surveyed for insurance purposes as my last two brokers didn't require a survey. Thanks in advance!

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Rapier
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Location: West Glos

Re: Boat Insurance

Post by Rapier »

Mine are insured through this lot:

https://www.gjwdirect.com/get-in-touch/

They've been asking a lot of questions about the boats that I already have, this week; not sure what's going on, but there you go. Tell them you're CMBA and ask for Barbara (if she's still there).
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floater
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Joined: Fri Feb 06, 2009 6:47 pm
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Location: Southern England

Re: Boat Insurance

Post by floater »

I'm with GJW as well, i think Barbara left a while ago.
Just got home to a letter from GJW saying that they'll no longer insure my boats as previously but are prepared to offer insurance individually.

I guess this is the same letter that Broompices has received

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floater
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Location: Southern England

Re: Boat Insurance

Post by floater »

Just spoke to GJW, and was told that the reason they are no longer allowing multiple boats on one policy is that they have had a review of the policy wording which now appears to categorise boats by type, so in my case my dinghy falls into one category, my river boat another and the sports-boat another.

The said that the dinghy is insurable with a seagull type / sized motor. The river boat must be under 18ft and powered by a motor less than 20HP. Both of these may be insured direct on line
The sports boat comes under the open speedboat category and is not insurable on line as there are questions to answer because of its age.
I asked about surveys being required and was told that as I am a CMBA member they wont insist on a survey. in the past I have been asked to fill in a basic condition report.

Shame really I've probably been with them 10 years or so and all of a sudden after no claims or incidents they decide to drop me. :help:

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Rapier
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Re: Boat Insurance

Post by Rapier »

Prices have really gone up since I insured all my boats on a multiboat policy with GJW (Groves, John and Westrup Limited) last year - I did try them, but their online quote didn't work, they had no clue as to what the boat was; they didn't know of the CMBA, and they wanted a survey of the restored boat by someone registered to do so.

I am not prepared to deal with fools, or morons. So, after 15 years of their premiums and no claim, I've gone elsewhere - even then it's on a par with insuring a 200hp car with a 145mph top speed, used daily.

Suspect it has to do with the jump in maximum liability from 2.5mio to 5mio.

Interestingly, few companies are prepared to insure boats older than 40 years, so my 60 year old tinny didn't get a look in & 3rd party vs. fully comprehensive wasn't and option when looking at the delta, over 12 months.
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Diomedea
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Re: Boat Insurance

Post by Diomedea »

I use Navigators and General and tried to move to more than one boat on one policy in the simple basis that for third party the risk in when the boat in in the water and there will only be one of two on the water at any time.
Quick answer - No!
Also, and I suppose there is some justification for current response times, the call centre is completely busy, they did not respond to voice messages so I had to send a cardboard email to get their attention. Which it did.
So rock and hard place which is not where you want your boat.

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Rapier
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Re: Boat Insurance

Post by Rapier »

Diomedea wrote:
Sun Jul 26, 2020 9:52 am
So rock and hard place which is not where you want your boat.
Agree. I went with Navigators and General, via the compare boat insurance site & fully comp..eye watering price really, for a sub-30knot 13ft'er. Not impressed; I ticked all the boxes in the minimal risk category, so one wonders what the inexperienced boater with 18ft Ring and 2.4l Merc would have to pay.
Fasten bra straps and remove dentures...

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