I have a restoration project (1960s 40ft timber yacht) that sits on a mooring in Sydney and once a year is towed to a shipyard to be antifouled. I want to get third party insurance at minimum to ensure that I don't get stung if *touch wood* she broke free in bad weather and caused damage to another boat. But I'm also weighing up comprehensive insurance now that I've invested a lot of time into restoring the boat.
At the moment I'm looking at Anchorage insurance but I'm not sure what else is out there. Any recommendations?
We could nearly start an insurance forum ! squaredance the only quote I could get so far for 1963 wood vessel is from Edward William marine insurance worldwide. No need for survey, just some pictures, sensible questions - fire extinguishers- storm prep etc. Has anyone any knowledge of this company ?
Select to expand quotewoko said..
We could nearly start an insurance forum ! squaredance the only quote I could get so far for 1963 wood vessel is from Edward William marine insurance worldwide. No need for survey, just some pictures, sensible questions - fire extinguishers- storm prep etc. Has anyone any knowledge of this company ?
Quoting myself, just found a warning on this forum from April 2019 warning about the insurance company I mentioned and other forums as well, very few good comments. But if you need the bit of paper to be able to haul out and can find any other, any port in a storm I guess
Select to expand quotewoko said..
We could nearly start an insurance forum ! squaredance the only quote I could get so far for 1963 wood vessel is from Edward William marine insurance worldwide. No need for survey, just some pictures, sensible questions - fire extinguishers- storm prep etc. Has anyone any knowledge of this company ?
Thanks for the tip! I'll keep looking around, although last time I tried to get insurance a few years ago I got knocked back- told they don't insure anything that old or made of wood! There is talk that I may need to get that magic piece of paper to be able to work on the boat when it's on dry dock so I might resort to the company you mentioned.
Pantanius come good for my wood vessel. Since I figured out Edward William & stopped communicating with them I have been receiving annoying almost scam like emails
I have just signed with Edwards William a week ago and went to Scarborough marina as i filled out the forms for marina they saw i was with Edwards William and they kicked me out and wouldnt accept their insurance
Bit worried now
Necroposting but in case somebody in the future finds this thread - I've just been through this on my new (to me) but nearly 50y.o FolkBoat. I could find plenty of insurers that wanted an out-of-water survey, but she's already berthed and the marina wouldn't lift her without insurance! Aargh.
Lots of calling around and eventually I found QBE would insure me without a survey - might be a bit more expensive but its enough to get me started, now I can get her lifted and properly surveyed etc.
My insurance is due in September and CM want an out of water survey (frustratingly I was informed of this 3 days after I put the boat back in the water)..
So I just had a quick look at the QBE PDS. The exclusions are a little worrying. But if all you are really concerned about is the piece of paper to slip your vessel, then I guess it will do.
Select to expand quoteToph said..
My insurance is due in September and CM want an out of water survey (frustratingly I was informed of this 3 days after I put the boat back in the water)..
I had a similar experience with CM. I'd give them a ring & discuss this with them & ask for an extension till next haulout.
They want a survey every 5 years but they may extend it due to circumstances. I'm pretty sure they did something like this for me.
Also tell them you are shopping around but would prefer to stay with them!!
Select to expand quoteLazzz said..
I had a similar experience with CM. I'd give them a ring & discuss this with them & ask for an extension till next haulout.
They want a survey every 5 years but they may extend it due to circumstances. I'm pretty sure they did something like this for me.
Also tell them you are shopping around but would prefer to stay with them!!
Thanks Lazz, I will give them a call. Im not opposed to the survey, I think its good to have a professional take a look over it. It's just the timing that sucked a bit..
Anyone know an insurance company that covers your yacht while on a swing mooring in Mangles Bay, WA?
I heard RAC covered, but can confirm they do not. Also been declined by AAMI, Youi, SGIO, Club Marine, and Trident (now coastal).
Mine is covered on a mooring by RACV in Port Phillip Bay. Might not be relevant to you, but maybe worth a call..
Cheers, Graeme
Wow what a minefield. Decided maybe I should get some insurance despite being a non insurance type of guy with house car etcetera. Knocked back by Youi and another. Apparently my purchase price was too low on one quote and I guess they assume I bought a wreck even though it was probably only about 20% less than market at the time and the boat had seriously rubbish sails and no self tailers and not working instruments plus need a slip. No sensible questions like had I got a survey or spent any money on the boat since with receipts.
The one quote I did get was for nearly $2,200 for $61,000 insured which is a bit of an under insure despite the same company charging the previous owner 12 hundred dollars 2 years ago. Third party is however less than half the cost and is probably the way to go as it covers what could be an exorbitant cost if the boat sank in a channel and had to be removed or drifted around damaging other boats. Nowhere near as many outs for the insurance company not to pay with third-party either.
Comprehensive probably doesn't cover what most people think it does. The small print probably specifies sorts of things such as having to have receipts for rigging less than 5 years old etcetera etcetera etcetera.
After getting knocked back by 12 insurers, I ended up getting cover with QBE if anyone is looking to insure their boat in Mangles Bay, price was double what I was paying earlier, but still cheaper than a marina by far.
