Hi guys who do you get third party insurance through for yachts on swing moorings? i'm looking to purchase my first keel boat and it wont be worth full comp. i have a quote through nautalis marine but i'm trying to find something to compare. Thanks for your imput
Select to expand quoteSailingcorey said..
sorry i'm in NSW hopefully mooring around soldiers point
Are Nautilus still offering insurance for boats on swing moorings? I know they were talking about dropping out of that market.
my sister and a good friend have have both there boats
insured with youi and are very happy with the premiums
about half the price of clubmarine
Select to expand quoteradar said..
my sister and a good friend have have both there boats
insured with youi and are very happy with the premiums
about half the price of clubmarine
Do they do just 3rd party?
I can recommend Nautilus, although slightly more expensive than others I was quoted on, I have recently had to make a claim, full write off of my yacht due to fire, from claim to payout was under one month, they and their assessor were excellent to deal with.
if you don't get comprehensive are you still covered for salvage if it breaks free?
Select to expand quotesaltiest1 said..
if you don't get comprehensive are you still covered for salvage if it breaks free?
You are assuming that it has third party cover? then I would say no, only the boats or other structures you damage while on your unmanned journey will benefit from your coverage, you are left to fend for yourself.
The way insurance companies are now, if the premium is $600, you need to spend that much again getting a lawyer to read it to make sure it is right.
Select to expand quotecisco said..
The way insurance companies are now, if the premium is $600, you need to spend that much again getting a lawyer to read it to make sure it is right.
Chatting to one of the locals that sails on Jervis Bay. He was saying that premiums for catamarans on swing moorings that can get coverage was $5500. Premium for an Endeavour 24 was $5000!
My experience is that most insurers are ok, it's the assessor who can make or break the claim. In SA there is one often used assessor who is an absolute disgrace and a down right wanker. He will argue to reduce quotes based on his assessment of the amount of work or time that he thinks it will take even though he is not a shipwright or boat builder and not worked in that industry. He has been exemely rude to both me (the boat that was hit and in the right) and even the other bloke who admitted full guilt. the incident was a straight forward port starboard which I tried to avoid, yet this knob said that I was still 20% in the wrong as there was still contact. Therefore my claim of 6k was offered to be paid out at 80% and his (guilty party) claim of 17k was for me to pay 20%. So the net payment of my claim was a bit over $1000. How is that right?
both insurance companies said that he was the assessor that they used and I couldn't ask for another. Both companies were not able to vary his opinion. So be careful as you might have the best insurance company but still get screwed.
anyway sorry for the rant and hey sailingCorey how's it going? Great to see your finally getting a boat. Hope the family is good.
Select to expand quoteRamona said..cisco said..
The way insurance companies are now, if the premium is $600, you need to spend that much again getting a lawyer to read it to make sure it is right.
Chatting to one of the locals that sails on Jervis Bay. He was saying that premiums for catamarans on swing moorings that can get coverage was $5500. Premium for an Endeavour 24 was $5000!
Ouch!! No wonder so many are opting for third party property only.
My mate has his self built 33 ft on deck steel Roberts Spray insured with Pantaneious for $150,000 on about a $1,300 premium, something like a .8% premium to capital value ratio.
As a guideline I have been told that premium ratios should not be greater than 1%.
It is actually 37 ft on deck and is one of the best built Sprays you could find. It was valued by a surveyor and the valuation at $150,000 was accepted without question.
Whether it would achieve that price in the market today is an entirely different question. My mate knows he would be doing well to achieve half that value.
