PP Posted September 13, 2007 Report Share Posted September 13, 2007 So what is the best quote or price you have for your current boat insurance and who with? I know there are keen shoppers out there so lets hear it. Be careful not to slander or flame any of these big companies, they have good lawyers. Link to comment Share on other sites More sharing options...
xmatelot Posted September 13, 2007 Report Share Posted September 13, 2007 I have had my spiel. pete Link to comment Share on other sites More sharing options...
Leapin Leroy Posted September 13, 2007 Report Share Posted September 13, 2007 PP, As far as insurance goes, it really pays to shop around, but at the same time listen to the experience others, wise move to put this out there. This is my personal experience; I am third generation Insurance industry (prior to going back to Construction, but thats a different and very looonng story), and my wife is currently a (Tier 1) insurance broker (of some years standing) able to give advice to the public. The biggest problem with the liability side of the insurance equation is usually the "ReInsurance Treaties" that the company's have in place. Most of these facilities are sourced on the international insurance market. (Does anyone want to be bored for an hour on that one?). Unfortunately with the "nanny-state" legislation and court rulings regarding the ubiquitious "Duty of Care", these combined, have pushed the awards for "damages" to ridiculous levels. I won't get started down that path! Except to say, whatever happened to the "ONUS of RESPONSIBILITY"!!! The long and short of the question for our family is this; Our house, contents, my tools/commercial insurance, camper trailer and motor vehicles (private & commercial)have been with ELDERS INSURANCE for a number of years. Great rates (there maybe some slightly cheaper BUT) and it's a big but, AWESOME CLAIMS SERVICE and only $100.00 excess on most policies. My big boat was insured with various brokers during construction, transport and eventual racing, these brokers were sourced mainly through ads from the likes of Multihull World Magazine. My little boats have almost always been insured with Club Marine. Again, just my experience, but their premiums are competitive, service great and only $100.00 excess on any claim. Just my fitty sents werf! Regards, Leroy Link to comment Share on other sites More sharing options...
richard campbell Posted September 13, 2007 Report Share Posted September 13, 2007 Good post leroy Yes the onus is on resposibility.I have sailed at a club where a bloke hit another bloke and caused damage and basically the guy in the wrong said sue him if he wanted his boat fixed. So with that type of attitude out there thats why i have insurance at any cost Rememeber PP you mightn't mean to hit anybody but if you fall off your boat or lose control of your boat and it hits a $20,000 or higher boat people your covered Link to comment Share on other sites More sharing options...
mitchlb44 Posted September 13, 2007 Report Share Posted September 13, 2007 I didn't do all that much shopping around... but I did find that club marine were far and away the cheapest. That included a family member who is a broker trying to get his best price aswell! Link to comment Share on other sites More sharing options...
TornadoSport260 Posted September 13, 2007 Report Share Posted September 13, 2007 Funny thing with Club Marine and GIO they have in the past sponsored Tornado's... But when i had mine which was the ex Club Marine boat... they told me to bugger off even though i'd had an imaculate 6yrs of insurance with them on Windrush and H16's... But yes i've held insurance with Suncorp, Club Marine, NRMA and try to get quotes from GIO, some mob in VIC that do international insurance as well and a few others and I'd have to say Club Marine are the cheapest by far. To the point that they were $150 cheaper than NRMA for a Windrush 14. Link to comment Share on other sites More sharing options...
PP Posted September 13, 2007 Author Report Share Posted September 13, 2007 I'm not complaining and I understand the politics even before this topic started. I am just trying to find the cheaper policy for racing at a social level (fun). It seems there are mates rates and there's rates for everyone else. I tried to contact MarineHull but found I had to go through a broker, their quote was something like $299 and I had similar quotes from others months ago. [This message has been edited by PP (edited 13 September 2007).] Link to comment Share on other sites More sharing options...
CleverNickname Posted September 13, 2007 Report Share Posted September 13, 2007 I'm insured with RACQ and thought their rates were reasonable. I have the racing option to cover me when competing. Brad Link to comment Share on other sites More sharing options...
BarryK1200LT Posted September 13, 2007 Report Share Posted September 13, 2007 I'm with RACQ to, and also have the racing option. For $6,200 cover it cost me $248.00 a year. I tried Club Marine and a few others, but found they were all about $100 dearer than RACQ. Cheers Barry Link to comment Share on other sites More sharing options...
richard campbell Posted September 13, 2007 Report Share Posted September 13, 2007 PP Further to my post When i first got my insurance.(going back about 10 years)The lady didn't know what she was doing ,So she had the premium book open and we went through it together Here is whet they had in there book Basic premium $$$$ (depending on boat value) Mooring Risk $$$$$ (depending on post code) Hull structure$$$$ Racing risk $$$$$ (this premium alone attracted 50% increase) AND the other was MONO or CATAMARAN and you guessed correct the cat risk was 50% as well So as you can see there is a lot more to the boat insurance premiums than a simple payment So it doesn't matter if you are social or not the moment you mention racing you are buggered I'm not complaining and I understand the politics even before this topic started. I am just trying to find the cheaper policy for racing at a social level (fun). Link to comment Share on other sites More sharing options...
BarryK1200LT Posted September 13, 2007 Report Share Posted September 13, 2007 Just to clarify RACQ's "Racing option" on their policy. The racing Option only covers damage to your "sails" while racing. Meaning if you were to capsize and fall onto your sail and stuff it, they buy you a new one. The basic policy covers you for any damage you cause by hitting another boat, or injure someone, but the "racing option" in RACQ insurnace just covers your "sails" while your racing. Cheers Barry Link to comment Share on other sites More sharing options...
QB2 Posted September 13, 2007 Report Share Posted September 13, 2007 Is there a difference between club racing and social racing? Link to comment Share on other sites More sharing options...
HooD Posted September 13, 2007 Report Share Posted September 13, 2007 RACT... $400 ish for $14,500 $50 excess covers racing and all accessories including my watch. I have made two claims so far, one for $1700 and the other $900. bother were during racing and they paid straight up. I used to be insured with club marine until I had 2 claims in a single 12 month period and they refused to re-insure me. they were a pain in the butt to deal with too. Link to comment Share on other sites More sharing options...
BarryK1200LT Posted September 13, 2007 Report Share Posted September 13, 2007 As a far as the insurance company goes, I'd suspect that "racing" would in their opinion be some kind of organised event, run under rules set down by some governing body, and where an entry form is required. Social racing (as in if you and a friend go out for a fang on a Friday afternoon), I doubt would be covered under RACQ's "racing option", but you would need to check that. Most basic comprehensive insurance policies would cover you though, if you were social sailing with a friend, and a collision resulting in damage or injury occured. As long as your weren't drunk at the time, or weren't in breach of any other obvious policy clause. Best to check all those things out though with whatever insurer you choose to insure with. Cheers Barry Link to comment Share on other sites More sharing options...
mitchlb44 Posted September 13, 2007 Report Share Posted September 13, 2007 The RACQ policy is interesting in that it only covers sails! Most policies I checked for 'social racing', and my dad has a similar policy for his Trailer Sailer say something like "neither rigging nor sails, or any extentented damage caused directly or indirectly by their failure are covered when racing". So I reckon the sails only cover sounds fairly reasonable... unless your looking for full comp! Link to comment Share on other sites More sharing options...
BarryK1200LT Posted September 13, 2007 Report Share Posted September 13, 2007 Mitchlb44 I think you've misunderstood my earlier post regarding the RACQ "Racing option" that covers your sails when racing. The "Racing Option" covers your sails only in a race situation, it's an "option" you can choose "only" when you take out full comprehensive cover on your boat with RACQ. The 10 million public liability cover, and the damage you may cause to another boat while cruising or racing is all covered under the normal comprehensive policy. Cheers Barry Link to comment Share on other sites More sharing options...
shwell Posted September 13, 2007 Report Share Posted September 13, 2007 Got a phone quote from club marine yesterday for an A class market val: 7.5k, full comp + 5 million public liability for $388. That's with $100 excess and another $100 if racing. The carbon mast has a $500 excess so all up $700 if the mast breaks whilst racing. Interestingly, I was on their internet site in parallel with the phone quote, the web site boasted a %5 discount but that ended up being $480? Link to comment Share on other sites More sharing options...
enaiche Posted September 13, 2007 Report Share Posted September 13, 2007 Check out CGU/AON. $5000/$10000000/$178 Link to comment Share on other sites More sharing options...
REV YUKKA II Posted September 17, 2007 Report Share Posted September 17, 2007 have mine with tudor 03 97073033. 17k all up cover premium $331-11 and i also have my old laser on there as well for $500 so mainly for the 3rd person liability. Link to comment Share on other sites More sharing options...
MikeDean Posted February 8, 2008 Report Share Posted February 8, 2008 For general info - I found Tudor quite a bit cheaper than my prev insurer ($209 vs $330) for $7000 insurance ($3000 boat, $3000 for 2 sets Mylar sails and $1000 for trailer). This includes "club racing" (within 25nm of launching point). Generally excess is $100, but racing excess is $500. Includes $5M of 3rd party liability. Link to comment Share on other sites More sharing options...
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