Interesting to find out that no 3rd party insurance will be issued from insurance company's now......all boats over 20 years old will need a fresh marine survey and only full comp attached with 3rd party will be issued when changing ownerships......great news for insurance company's but bad news for anyone that wants just 3rd party and not the full cover. If anyone knows a company that will release 3 rd party alone please let me know......
Interesting, it seems only 3rd party for trailer and off the beach boats with Club Marine
I guess you have tried Suncorp
www.suncorp.com.au/insurance/boat.html
Yep tried them most company's have changed there policy in the past 12 months......full comprehensive or nothing!
so that means you have to have a current comprehensive policy on your boat to sell it ?
Yes if the new owner plans to go into a marina or onto a mooring, rather the current owner or the new owner will have to get a "out of the water full insurance inspection survey!
Only last week I get a call that my yacht had dragged anchor in an unforecasted 50 knot westerly and had settled beside a newish Benny!
Oh crap, no insurance I'm thinking how tough Val is and how piss weak new boats are, here we go a $7000 bill coming my way. Well if the guy has got insurance all I can do is offer to pay his excess, but if not!
Well I was pleased that barely a mark was made and got away with it, but really insurance should be a flat rate for all. Otherwise people are just going to get caught out when someone hits them.
Select to expand quoteDezman said..
Only last week I get a call that my yacht had dragged anchor in an unforecasted 50 knot westerly and had settled beside a newish Benny!
Oh crap, no insurance I'm thinking how tough Val is and how piss weak new boats are, here we go a $7000 bill coming my way. Well if the guy has got insurance all I can do is offer to pay his excess, but if not!
Well I was pleased that barely a mark was made and got away with it, but really insurance should be a flat rate for all. Otherwise people are just going to get caught out when someone hits them.
I thought if he had insurance the they fix his boat and try to recover their cost from you or your insurance or am I living in a dream world?
RACQ do actually have a choice between third party and comprehensive.......we got half way through the phone quote and it sounded like its possible for a larger yacht but then she asked if I have a current within 12 month Sea worthy certificate......couldn't tell me if this was the same as a out of water insurance survey! So we left it at that for now.
Your right keithw, and I bet the insurance company would be ruthless in their pursuit too. But if he had none and I don't have any money then what?
If you ever consider claiming against another, be sure that the person / entity could pay. It is morally satisfying to win a claim but if the guilty party has no money, then you are even further down the gurgler ! One benefit of a full comp. policy - the insurance co. will take the crap.
Members of our club have gone through all of this over the past 12 months especially.
We have boats on swing moorings, and all are required to have 3rd party insurance.
As Ramona indicated, you can still get insurance, through people like APIA, it's just that many of the main players like GIO have dropped their 'Essentials' bomb insurance policy.
You can also check out a mob called Resilium, who offer a 3rd party product, funnily enough underwritten by GIO.
