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boomer View Drop Down
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Joined: 28 Mar 05
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Posts: 16 		Post Options Post Options   Quote boomer Quote  Post ReplyReply Direct Link To This Post Topic: insurance
    Posted: 16 May 06 at 4:35pm
Ok - so I've had a little claim, first since starting sailing 30+ years ago.  Some vagabond breaks into the dinghy park & nicks my spars.  Is it really necessary to more than double the premium on a boat that was not subject of the claim?
There may be trouble ahead!
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Contender 541 View Drop Down
Really should get out more
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Joined: 05 Dec 05
Location: Burton on Trent
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Posts: 1402 		Post Options Post Options   Quote Contender 541 Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 06 at 5:58pm

Thiis is the insurance companies method of saying that we no longer want to insure you.  There are four things you can do

1.  Nothing - Shut up and put up

2.  Try to speak to the company directly - You never know

3.  Change Insurance companies - You will usually save as a new customer

4.  Get a number of quotes from othe companies (including your own) as a new customer.  Then ask your own insurance company what they are going to do about it.  Be sure that you are willing to move though as if they say we will do nothing then you are stuck with option 1 or 3

 



Edited by Contender 541
When you find a big kettle of crazy it's probably best not to stir it - Pointy Haired Boss

Crew on 505 8780

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Noble Marine View Drop Down
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Joined: 09 May 05
Location: Newark, Nottinghamshire
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Posts: 126 		Post Options Post Options   Quote Noble Marine Quote  Post ReplyReply Direct Link To This Post Posted: 17 May 06 at 10:54am

Originally posted by boomer

Is it really necessary to more than double the premium on a boat that was not subject of the claim?

No it's not necessary to increase the premium!   In the same way that each insurance company offers different policy wording, different premiums and different customer service, they each also have a different attitude to claims.

I would have thought that one claim in 30 years, is relatively insignificant from an insurers point of view and overall you represent a good risk.

 

Have you checked with your insurer to ask why the premium has increased?  The increase may not be personal to you and they may have decided to increase all premiums for your class of boat or for all boats at your particular club, due to other incidents.

 

As suggested by Contender 541, obtain quotes from alternative companies, but make sure that they are aware of the recent incident.  Also check the cover offered carefully as a cheaper policy may end up costing more if you are unlucky enough to have to make a second claim.

 
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