Insurance

23/01/2018 13:28:14
I received this in an email from CraftInsure; it seems to be a pretty hefty hike when I haven't made a claim. My boat has been with another, probably best un-named, MROA member for the past TWO YEARS being fettled in one way or another. Now that I'm 70 I'm seriously wondering if I'll still be able to sail it if and when I see it again.

Is everybody seeing this sort of hike in insurance? Can anybody provide any ideas for a cheaper insurer?
 
 

The insurance policy for your Racing Dinghy, 3488 renews in 30 days time and your new annual premium will be £237.44 (last year £194.48) based on the information held in our records and the type of Policy attached. Due to the frequency and increased cost of claims the Policy excess has also been increased from £194.48 to £200.00.

Your premium is inclusive of Insurance Premium Tax at the current rate of 12%.

23/01/2018 15:41:56
Scam
yep mine has increased by nearly 40% funnily enough craftinsure came out as one of the cheapest...

23/01/2018 16:01:17
Matt
Noticed the same. I'm yet to insure as I've only just got it but before Christmas and after Christmas quotes have gone up by 50%. 

23/01/2018 17:43:54
D.H
think it has a lot to do with rig replacement costs....masts are a big cause...

23/01/2018 20:03:40
Dave Lee
My renewal quote from Towergate has gone from £200 to just over £330, a big hike but still a bit cheaper than some of the others 

23/01/2018 21:36:53
Alan3571
My cover has actually gone down on 3571.... £136.00......

25/01/2018 08:46:22
Olly Turner
Recently a Starcross Merlin snapped their Chipstow mast and are having it replaced by a Skinny Selden after chipping in an additional £750 on top of their excess for the mast upgrade. 
How are insurers charging 40% higher premiums and this upgrade cost? Or would those insurers who have issued the 40% or so hike not be adding the upgrade cost?

25/01/2018 12:16:13
Dave Lee
I queried the big cost hike with Towergate and apparently this only applies to their gold level cover.  The silver level was still quite a bit cheaper, but doesn't cover you for attending open meetings or events like the Championships.

25/01/2018 13:28:09
Dave C
I was with Bishop Skinner for 12 years, this year the premium went up over 40% I have changed to Craftinsure who gave me the best quote was £211. As DH seems it may be the cost of all those carbon masts... In my experience insurance companies get their money back in the long term.

25/01/2018 14:36:39
Andrew Mills
I seem to be on 1st name terms with the claims manager at Bishop Skinner.  I have recently renewed, something of a price hike but not enormous and over the last few years I'm sure they have paid out substantially more to keep Heaven Sent in one piece than I have paid in premiums.  Incidentally, despite trying really hard (including having the boat pitchpole when tied down on its trolley in one of the recent storms) I have still not managed to break the 1st generation SuperSpars carbon mast so it's not that driving the premiums up.   My take being that cheap insurance is all very well but what you want it for at the end of the day is sorting out claims and repairs and Bishop Skinner have been exemplary.

25/01/2018 17:02:17
Dave C
Certainly Bishop Skinner have been a good company in all the years I was with them, Can't comment on how good they are when a claim is made though its a very long time ago that I made any claim. I did try to negotiate and understand the justification for such a steep rise but there didn't seem to be any improved product so I must assume they no longer wanted my business.  I find that loyalty in the insurance world doesn't count for much these days. My house insurance, car insurance seem to have a big hike every year so I have to get quotes and either move companies, get ripped off / try to negotiate a sensible price... Sign of the times it would seem? I see Craftinsure gets good reviews from others in our fleet and they sponsor our championships.... It would seem they want our business.
 
 
 
 
 

27/06/2018 08:16:14
Ross
 Carrying on old thread I see my Craftinsure renewal's gone up 30% this year. Are they still the best or anyone finding more reasonable quotes elsewhere? Cheers

27/06/2018 12:06:38
Alistair Glen
I've just had my renewal notice from GJW and it has remained the same as last year (£202 for 3616 valued at £6000). Mind you, I haven't claimed on it in the last 12 months.

28/06/2018 16:04:29
Matt
www.insure4boats.co.uk 

I just got a quote from these guys for £46.99 for £3500 value.  But they don't ask for what kind of boat it is or give you a lot of details about cover. Sounds to good to be true.

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