tophatyachts.com

Rod (Sea Monkey) has Internet problems & he asked me to post the following:
His insurer has advised they will no longer insure a yacht on a swing mooring at Bateman's Bay. He's wondering what insurers other TH owners use.

I know there was an insurance topic about a year ago & a number of members said they used Anchorage Marine. I followed up with them and got Pelagian insured (at that time on a swing mooring) for @ $14k for a $385.00 premium.

Can anyone help Rod with other options?

Thanks, RodM

I use Club Marine. Not the cheapest, but I have friends who have made claims through Club Marine and had them settled promptly and fairly. I guess you get what you pay for. I think my premium was about $450 for $19000 comprehensive insurance.

Cheers,
Mark

Apparently a number of insurers are declining to insure boats on swing moorings. Might have something to do with the recent floods and boats being swept off their moorings. Typical of the insurance business, apply restraints without correctly differentiating the risk.

Rod & RodM,

I use NRMA.

NRMA only asked for an inwater inspection from a shipwright [$100] when I took out the full insurance a couple of years ago.
Cost this year, $480 for $17,000 cover which is comparable to Marks.
I renewned in February and the policy states: moored at Camden Haven.

No mention of no cover in the future for a mooring.

P.S. The cost of getting an out of water survey for the other insurance companies was around $1,000 plus, up here on the Mid North Coast of NSW!
I may have even had to take SEAKA to Newcastle to get it done. Thats why I went with the NRMA.

Hi Rod

I found that because of the age of my MK 1 (39 years) most insurance companies would not provide cover even with a survey. Eventually I contacted Trident Marine, the process was a bit confusing, at first they said no survey required, but after receiving my application they sent a form letter saying I needed a survey. After further discussion I sent them some photos and they agreed to insure without a survey. The premium was $448 for $15k cover

Cheers
Keith

I don't know if the low threat of flooding has an impact on insurance premiums in Vic, but my insurance is with RACV, and it is for a swing mooring. The premium is $464 for a $21,900 cover, but this includes a generous discount for lengthy membership and multi-policy discount.
Hope this helps.
Kevin
Wayward Lady (Mk111)
Williamstown, Vic

Just informing members that I have obtained suitable insurance with "Pantaenius"

Cover is for agreen value $15000,
plus personal affects $10000,
emergency accommodation $1000,
fishing gear $5000 (no choice, it's a standard clause. My fishing gear is probably worth $2.50)

Cost $600 pa.

Didn't need another survey. The latest survey (13 months old) was sufficient. I did need proof of mooring servicing and that the mooring was sufficient for the type of boat.
I'm happy with that!

I am about the renew the cover on my 1971 Mark 1 on swing mooring on Lake Macquarie without survey or shipwright inspection. My invoice is $287 for $15,000 cover. That, by the way, is the same as last year - unusual these days! I have been doing business with Anchorage Marine Underwriting for years (you will find their advert in Afloat) and never have any hassles. I supplied this information in a previous post and a few of the guys followed through and got the same kind of deal without a preliminary survey. When it comes to swing moorings, all they insist on is regular servicing and they don't ask to see the receipt on renewal, only if a claim eventuates.
As I said last time, do yourself a favour and make a phone call to Ross Fullerton on (02) 9959 4422. He seems to have a soft spot for Top Hats because they have a good record for claims.
Sean

Hi All,

Shaun and I have some great news re insurance. We will post a complete update in the next few days.

Yes quite an interesting conversation with a trident Insurance rep at the boatshow.
Most importantly they will cover yachts our age, & with out an out of water survey
or any survey upto an amount of $20k total. $20k is the cut-off point before surveys required.

They will cover boats on swing moorings in sheltered waters, rivers, harbours etc, no cover for open areas ie Jervis Bay.
They will also allow "self maintained" moorings, obviously as long as you document & log the service, photos would help.

No "new for old" cover, if you lose you mast for example, they search the cost of a second hand 30year old mast & pay that.
Those were the main points raised,
cheers