Insurance

[Phillip]

Good Morning All,

I am on the insurance round-about again. Club Marine, my current insurer, has asked for a survey, that means throwing away $800 plus for no value!

I have approached Anchorage Marine, who do not want a survey "at this stage", but what they do want is a value on the rigging and mast +boom, sails etc. to be included.

Has anybody valued the replacement of these items in recent times?

Anchorage Marine is about $100 cheaper but the do not cover north of Noosa Head during cyclone season, which is fine, seeing that omce again 4 plus yachts were lost last weekend at Eirlie Beach!

P h i l l i p
SEAKA

[storm petrel]

Club Marine only asked me for an intial survey. Have you been with Club Marine for a while or were you just enquiring about taking out a new policy with them? I think most insurers would require on an initial (recent) survey when you join them, but I am not sure if Club marine requires another one every ...... years? Does anyone know?

Cheers,
Mark

[Phillip]

Mark,

I have been with Club Marine since 2005 when I brought SEAKA (had a survey then),
it seems that the magic number is: 20 yeas old plus = a survey!

How often remains to be seen. But to their credit they have given me a years notice, so I may be able to work something out, like maybe the surey can be done inwater at my mooring (like the NRMA). Who knows?

This will be an increasing problem for Top Hats as they age, maybe we can do a group deal somewhere?

Had to do a costing of what's on board (stealable stuff) and was stuned to find it came to 50% of the boat value! And that total did not include the cost of several boat items I had to replace!

Looking very much like the Club (with whitworths $50 discount offer ) for this year and a total review over the next 12 months to find the best value.

P h i l l i p
SEAKA

[storm petrel]

Phillip,

Storm Petrel is ove 30 years young, but I have only been with Club Marine for three years. I paid my renewal in December with no questions asked. Perhaps it is their policy to ask for a survey every five years for boats over 20 yrs old? Or maybe they changed their procedures from the start of 2010. I do not remember reading anything about periodic surveys in the policy.

Let us know how you get on.

Cheers,
Mark

[mmts]

Phillip,

I have been with Nautilus Marine for three years now, had an initial survey which was fair enough, then last year with my renewal they asked me for another survey. Wasn't impressed to say the least, but after a discussion with them over the phone they agreed to waiver the survey.....thought it was a bit ridiculous to be asking for another survey after just three years. I guess they'll see what they can get away with

Cheers

[Dolphin]

G'Day All,
I had similar problems. I'm with R & M insurance brokers. Greg Gilkison is the broker and I think they are underwritten by CGU. They wanted a survey but accepted one from a person in the Industry. I got a Coast Guard skipper who happily signed up to say that the boat was kept in good condition. I think they just wanted to keep the number of mooring minders off the books.
The advantage of a broker is that they have to keep both parties happy and they get a group discount, otherwise its just you against the insurance compny and they've usually got more experience in these matters. I was introduced to R & M way back at the RMYC on Port Hacking as the Sailing Division was running into high costs. The division got a discount.
R& M are also local, their mailing address is on Dangar Isalnd.
Hope it helps, Greg.

[karl010203]

I must say been with Club Marine with our current boat for about 3 years and with other boats for lot longer. I am not sure I would have the confidence to go elsewhere but have never been asked for a survey... yet?

[storm petrel]

Hi All,

After asking around, it seems that a survey every five years for moored boats over 20 years old is par for teh course for marine insurers. Does anyone know of a campany with a longer period between surveys?

Cheers,
Mark

[Shaun]

I didnt require a survey through Andrew Johnston, professional insurance brokers, Monbulk Vic, did have to break down the cover into various items, hull, rigging, engine, equipment etc. Didnt require one upon renewel either.
cheers

[Galini]

Galini was built in 1981. I have insured with Club Marine since 2000. In 2008 I was asked to have a full out-of-water survey prior to renewing insurance. I didn't find this requirement unreasonable, considering her age.

My survey only cost $500 ($20 per foot) and was very comprehensive. Having been given 12 months notice by Club Marine, I timed the survey to coincide with slipping for antifoul. Reading Afloat magazine I get the impression that there are a few expensive lurk merchants in the survey business so it pays to shop around. My surveyor was Ron Bailey from Northwind Marine - punctual and reliable.