We are trying to avoid the requirements of comprehensive insurance for a 30ft fibreglass 45 year old sailing boat. It is on a swing mooring in Sydney. Is there an insurance option just for salvage/ third party for a moored boat?
To be able to advise, you might like to say what region/state you're in; marina mooring or a swing mooring; bay or river mooring; hull material and age of the boat, etc. 3rd party insurance is around, otherwise an inspection might be needed, even if you raise the excess or downplay the value of the boat.
I don't know about the salvage part. 3rd party property cover covers damage to other peoples boat or property not your own. You will need at least 3rd property cover to use slipways and marinas. There have been a couple of instances lately of people just giving their boats away after they sunk or washed up on the rocks after mooring failures. NSW Marine rescue does not do salvage either. If your boat comes off your mooring while you are absent you will be responsible for all costs.
Getting insurance for older fibreglass yachts is difficult as you have probably noticed. Old to insurance companies is about 15 years at the moment! The rigging has to be less than 10 years old and there is always talk of that reducing to 8.
I use Apia for 3rd party cover and they cover moored yachts if you have had their cover prior to 2016. Like all insurance companies, their rules are constantly changing or evolving.
If you decide to go comprehensive you will find very little is actually covered. Read the small print very carefully. Sails, masts and engines used to be covered but not necessarily these days. Good Luck.
The way but was explained to me is 3rd party that the slipways & marinas require has to cover salvage in case your vessel goes to the bottom in their fair lead. I think pantaenius have a $5000 excess for that sort of claim
Well I have just read the Apia Boat insurance product disclosure statement that came during the week with my renewal notice and I was wrong about the salvage costs with 3rd party. It is covered. I'm also covered for up to 200 nautical miles offshore but I'm not to exceed 60 knots! Weirdly my tender is also covered as long as it's under 40 years old, I guess they will want to see the receipts! Apia have made a lot of changes to their boat policies and they seemed to have realized there are yachts and sails and rigging are covered. Racing cover is extra.
The downside to all this is you have to have had the fact your yacht is on a mooring on your certificate prior to 18 July 2016 and of course be over 50.
Email from APIA today telling me my cover is being cancelled in 10 days. They have suddenly decided they don't want to cover yachts on moorings and only want to handle trailer yachts. I don't think I want to be 200 miles offshore in a trailer sailer!
This has happened previously and they later came back and invited me to renew with a mooring. I doubt it will happen again so I'll be looking at other companies.
Select to expand quoteRamona said..
Email from APIA today telling me my cover is being cancelled in 10 days. They have suddenly decided they don't want to cover yachts on moorings and only want to handle trailer yachts. I don't think I want to be 200 miles offshore in a trailer sailer!
This has happened previously and they later came back and invited me to renew with a mooring. I doubt it will happen again so I'll be looking at other companies.
Maybe they had a flood of calls after your post 
Excessive excess on the salvage component wouldn't be a consideration on a well founded and maintained vessel
I just got that. After emailing and calling around last week I got 3rd party only with Pantaenius on my 1985 35ft Martzcraft for $518 on the basis that the boat was sound and it was monitored 24/7 with my Trek Transponder. Located on a swing mooring in Pittwater. No out of water survey required. Fortunately I had slipped it and anti fouled it 12 months earlier and had the records showing no repairs necessary at that time.
Some of the others were ridiculous asking for an out of water survey for 3rd party. Including APIA and YOUI. I kept telling them I dont want to insure the boat!!
I got a quote from New Wave Marine for $484, no survey. I thought that was a bit rich compared to Apia's $130.
Select to expand quoteRamona said..
I got a quote from New Wave Marine for $484, no survey. I thought that was a bit rich compared to Apia's $130.
When I talked to APIA last week 10-2-22 they insisted on out of water survey. Their tail doesn't know what their head is doing. The closest other quote with no survey was $850. Maybe location matters. But shouldn't do for third party.
I'm waiting on a quote from Pantaenious but not expecting much joy there. Also they came is for some flak last year with some of the small print on their policy.
cyca.com.au/yacht-insurance-and-weather-warnings/?utm_source=seabreeze.com.au
Interesting CYCA article for sure.
Our recent quote from Pantaenius indicated; we did not proceed............obviously I don't know if the below text is in every PDS they might use.............
There is no cover for mast, spars and rigging and damage caused by mast, spars and rigging failure. Also: The Deductible in the event of loss or damage as a result of flooding or sinking when your Vessel is unattended and moored at a swing mooring or in a marina or pontoon berth, at anchor or on a pile mooring shall be 50%of the value of the claim for a partial loss or 50% of the Market Value for a Total Loss or Constructive Total Loss.
Our experience with NWM has been very good - where they have covered for comprehensive insurance without a survey red text comes up on the documentation that they will need a survey before the next annual renewal...........
Select to expand quoteRamona said..
I'm waiting on a quote from Pantaenious but not expecting much joy there. Also they came is for some flak last year with some of the small print on their policy.
cyca.com.au/yacht-insurance-and-weather-warnings/?utm_source=seabreeze.com.au
3rd party & 10million pub lib for my ol
AWB = $540%anum
I just renewed with Club Marine after a lot of correspondence back & forth to get the premium down a bit but still way higher than last year.
This was in the conditions:
5.6 Moored Boats on Swing Moorings at Airlie Beach and Shute Harbour
The cover provided under this Policy will not apply to any claim for loss or Damage whilst Your Boat is moored on a swing mooring or Your own anchor and tackle at Airlie Beach or Shute Harbour unless We agree to extend cover in writing. Note that the Boat's permanent mooring location must be declared and agreed to by Us in writing and that the agreed mooring location will appear on Your Policy and Renewal Schedule
Pantaenius came in a very close second - the others were way off the money!!
I went with New Wave Marine. Pantaenius was wanting more info on the swing mooring and was wanting the exact co ordinates. The other companies generally lost interest when They looked at my postcode. My postcode must be too similar to Jervis Bay!
Don't know what sort of insurance ol mate with this little Benny has but he's gunna needed it.
