Has anyone had any luck getting comprehensive insurance for a mid-size yacht on a swing mooring. Do you know of a marina that doesn't require it for slipping? I'd prefer a fully online quoting system, and not have to talk to a hyperactive agent.
YOUI wasted my time by waiting until the very end to drop a shocker. They don't insure at swing moorings! That was after they bombarded me with endless trivial questions. What a bunch of clowns!
I was looking for Trident but could only find Coast Insurance. Seems they rebranded a few years back. How are they now?
coastins.com.au/
Thanks, I'll keep them in mind. They require a survey, right? Any chance of finding one that doesn't?
RACV insures my yacht on a swing mooring also. When it was in Westernport and now in the Gippsland Lakes.
It needs a once-only out of water inspection report for the whole time you own the yacht.
The yacht's value to them is now about 8k, and costs around $450 a year to insure, comprehensive/agreed value plus all the 3rd party stuff.
Do you need comprehensive cover ? Pantanius covers my boat on a swing mooring 3rd party public liability, a mooring inspection is required
That's great they only need one report, but it's a catch-22 for those without insurance. How are you suppose to insure when marinas won't slip without it? Pray to Neptune for a lift? Call International Rescue? It's ridiculous!
Yes woko, comprehensive on a swing and no survey. Insurers hear that and go "Oh, hell no!"
Suggest try New Wave Marine. They may need a survey depending how well they know you (ie prior insurance record with them) and what type and age the yacht is.
Thank r13. I've read the old threads and New Wave seems good. But again, the dreaded survey bind.
3rd party will get you hauled out & you can get a lift and look without insurance for a survey
Have used qbe no survey required at the time
New wave no survey required at the time
Youi no survey required at the time
Nrma survey was required
Currently using club marine survey required
All above have been insured on a swing moring
Thanks woko. What does a survey usually cost now?
YOUI really? How long ago Kurt? They rejected me this week. The agent said it was only because of the swing mooring.
I'll try QBE and New Wave tomorrow. Cheers guys!
Youi 3 years ago
I think new wave is survey free if you have owned the boat for a year or more from experience
New wave is all online easy to get a quote
Also no slip way has ever asked me for insurance but always had it
Thanks Kurt, just tried New Wave. Shockingly simple and quick. How can they quote on so few questions? Do they ever call back?
Pittwater is mad about insurance. Nearly every slip wants some kind, and I've only found one that doesn't care.
Select to expand quoteSilent Hunter said..
Thanks Kurt, just tried New Wave. Shockingly simple and quick. How can they quote on so few questions? Do they ever call back?
Pittwater is mad about insurance. Nearly every slip wants some kind, and I've only found one that doesn't care.
Insurance is only useful if they pay out when you need it. The lower the premium tthe company will reject claims if they possibly can and hope you don't fight it.
Have New Wave Third Party for yacht on swing mooring Lake Macquarie - a piece of paper ! - Respond well to Email.
I know you don't want to go through a broker but you really are better off doing so if you get a recommendation. Topsail insure mine at a cost of $1200 p/a with an insurance report from 2019. As I'm selling soon I'm getting another survey done on haul out in a few weeks time. Swing mooring and built 1982 fibreglass.
Also Youi quoted me $4700 for same insurance. Club Marine almost doubled their premium after 1 year to $2800.
Thanks saltiets, I'd heard of Tudor but not Topsail. Might give them both a call today because New Wave was a bit expensive, At least you can put in a really low value and still get cheap monthly insurance for marina visits.
The issue of 'needing insurance to slip to get the insurance' is usually solved by discussing with the insurer and getting a kind of cover note.
Select to expand quoteMadmouse said..
The issue of 'needing insurance to slip to get the insurance' is usually solved by discussing with the insurer and getting a kind of cover note.
Cover notes are a thing of the past however state legislation provides a 30 day cooling off period which I once took advantage of when I realised the insurance I had bought was a rip off. Got my money back but of course I was covered for the 30 days. Marmong Point marina requires either insurance or a bond so I just paid the $5,000 bond for my 38 foot boat. I think the same mob own the marina at Bobbin head.
Apart from that I have found that Anchorage Marine in North Sydney are very good for insurance.
Thanks julesmoto, I didn't know about the 30-day period. That would be very handy. Unfortunately, marina wants insurance now for a date five months away. Doh!
Select to expand quotejulesmoto said..Madmouse said..
The issue of 'needing insurance to slip to get the insurance' is usually solved by discussing with the insurer and getting a kind of cover note.
Cover notes are a thing of the past however state legislation provides a 30 day cooling off period which I once took advantage of when I realised the insurance I had bought was a rip off. Got my money back but of course I was covered for the 30 days. Marmong Point marina requires either insurance or a bond so I just paid the $5,000 bond for my 38 foot boat. I think the same mob own the marina at Bobbin head.
Apart from that I have found that Anchorage Marine in North Sydney are very good for insurance.
Maybe but my broker said l could get the insurance subject to conditions including rig etc. Otherwise there would be stalemate like this all the time.
Sure it's not a cover note as such but a way forward perhaps.
A bond is another option l suppose
I've used Mark's Point Marina Lake Macquarie for years, never asked for insurance.
Also will do a low cost risk survey at the time of antifouling to suit Club Marine insurance.
Age of the boat makes a big difference, my experience is that 3rd party on a 50 yr old sail boat costs more than comprehensive for yacht less then 10 years old.
I've had my boat comprehensively insured with Youi for a number of years on a swing mooring in the Swan River in Perth. Maybe the swing mooring restriction is location dependent - ie they are happy with swings in some places, but not others. I've never had an inspection.
Pantaenius insured my old Martzcraft 35 on a swing mooring no problem. It helped that I had records showing the boat was well maintained and at a previous slipping had no hull problems, and had a remote boat monitor.
www.pantaenius.com/au-en/
Select to expand quoteMicrobe said..
I've had my boat comprehensively insured with Youi for a number of years on a swing mooring in the Swan River in Perth. Maybe the swing mooring restriction is location dependent - ie they are happy with swings in some places, but not others. I've never had an inspection.
Just check the PDS. When l looked at Youi there was a clause about regular inspections stated something like "within x years of the claim".
Not against inspections per se but just factor the cost etc in (and the hidden clause).
Thanks Jbarnes. QBE doesn't seem to have an online quote for boat insurance. That's weird, guess I'll have to ring.
Cheers Trek, but I think Pantaenius will probably want a survey too.
Thanks Warwick, yeah may have to trek outside Pittwater. I've been rejected and ghosted by nearly everyone here. Quays marina has great customer service but wants full comprehensive. They suggested a waiver at first but that got shut down by the boss. Damn!
I got a quote from New Wave, but I couldn't get past the last questions (uninsured over 6 months). They rang and said survey needed.
Coast (aka Trident) said no to comprehensive but yes to 3rd party.
Had my 30 ft 1988 flybridge cruiser for 9 years,
Insured with RACT all of that time, either in marina berths or on different swing moorings,
No survey required.
No requirement to show insurance at the local slip.
Made two claims in a marina, vandalism and accidental damage due to ' helpful ' bystanders.
One claim on a mooring.
Total loss...paid out in full for insurance value.
Thats what mattered at the end of the day.
Whats the problem with getting a survey done, its a pretty minor cost when spread out over a number of years and another set of eyes on your boat might highlight some much needed maintenance you were unaware of.
I have been advised I will need another one next insurance period, I will be sure to go to market and shop insurance around next year armed with a fresh survey, who knows it might save me money, it wont take much of a reduction in the premium per year to pay for the survey
