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Jamie600 View Drop Down
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Post Options Post Options   Quote Jamie600 Quote  Post ReplyReply Direct Link To This Post Topic: On-Shore Insurance
    Posted: 01 Dec 05 at 10:58am
Does anyone know any companies that do insurance for out-of-commission boats?
I will be transferring the insurance for my current boat onto the new one, but as I've not sold the old one yet I'd like to make sure it's covered while it's sat on the garden, in case it's either nicked or a tree falls on it or something.
Seems straightforward enough but my insurance company can't help.
I'm sure I can't be the only person in this situation, any ideas?
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Post Options Post Options   Quote Shingle Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 11:35am
Check the terms of you household cover, you may be able to add it as sports related to your existing policy for a small monthly outlay.
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Post Options Post Options   Quote Jamie600 Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 11:45am
Unfortunately one of the exclusions on the policy is boats!
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Post Options Post Options   Quote Guest Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 6:04pm

Just pack one away in the back garden with the mast down and put all the bits in the garage, not much chance of damage ... pretty low risk.

Leaving it in a boat park though is a different matter as the boat next door could blow over and cause damage ,,,

I guess you have to take a view.

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Jamie600 View Drop Down
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Post Options Post Options   Quote Jamie600 Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 7:09pm
Must admit I'm leaning towards the "leave in the garden" option, just spent the day ringing round and it seems the only option is either fully comp cover, or nothing.
I don't need 2,000,000 third party cover, the boat isn't going anywhere near water!

This could be an interesting idea for a niche product though, if any insurers are reading.
I'm very suprised that you can have a limited milage policy on a car, but there is no boat equivalent.
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Post Options Post Options   Quote Guest Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 7:17pm
But they would lose loads of money as lots of people only sail in the summer and would downgrade each winter
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Post Options Post Options   Quote Noble Marine Quote  Post ReplyReply Direct Link To This Post Posted: 01 Dec 05 at 10:19pm

In reply to Jamie600, insurers are unable to offer a limited use policy because this is impossible to verify.  It is possible to check the mileage on a car, but not a boat. 

The fact remains that boats are at risk during the winter

  • mice, squirrels and other vermin will make nests in sails 
  • trees are blown down, or boats blown over during storms 
  • boats are still at risk of being stolen or vandalised

Noble Marine will cover this type of accident and only a boat's owner can weigh up the cost of insurance against the potential risk.

The risk of a loss are reduced if the boat is kept at home, but insurers have to take an overall view when calculating premiums.  We do appreciate that, in general, boats are used less during the winter, but we have to base our premiums on a 12 month period. If short term policies were offered, the premium calculation would be weighted towards periods of greater use, but as I have already stated, it is not possible to quantify a boat's usage as you might by checking a car's mileage.

Jamie600 - if you plan to sell your boat, bear in mind that many insurers will provide a pro-rata refund if a boat is sold part way through a policy, although you should check your policy to see if penalties apply, especially during the first year of insurance.



Edited by Noble Marine
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Post Options Post Options   Quote Guest Quote  Post ReplyReply Direct Link To This Post Posted: 05 Dec 05 at 1:50pm
Originally posted by Noble Marine

The fact remains that boats are at risk during the winter

  • mice, squirrels and other vermin will make nests in sails 

I saw a guy pull a Miracle spinnaker out of his boat the other week and it fell to the ground like a shower of confetti ... the mice has totally destroyed it.

Rick



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Post Options Post Options   Quote Noble Marine Quote  Post ReplyReply Direct Link To This Post Posted: 05 Dec 05 at 2:30pm
Smells awful too
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