Insurance

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Squaze 123
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Insurance

Post by Squaze 123 » Sun Jan 12 2020 08:08

Where is the best place to insure a 16 foot Orkney with a 15hp honda four stroke, fresh water use only ?

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Duncan Holmes
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Re: Insurance

Post by Duncan Holmes » Sun Jan 12 2020 10:25

I use Porthcawl and have been ok.

But TBH I haven't had to have a claim, which is the only.time you really know if you have good insurance or not.
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Re: Insurance

Post by Squaze 123 » Sun Jan 12 2020 10:31

Thanks for the reply What kind of price range will it be?

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Duncan Holmes
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Re: Insurance

Post by Duncan Holmes » Sun Jan 12 2020 10:35

Squaze 123 wrote:
Thanks for the reply What kind of price range will it be?
Depends on value and risk, mine was around £150 iirc
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Mike J
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Re: Insurance

Post by Mike J » Sun Jan 12 2020 10:56

In the past Ive used Legal and General.
Paid apx €60/yr for third party which was required by the countries Laws and theft.
Insurance against fire wasn't an option unless the boat had been professionally wired and held a safety certificate.
Never trailered and was only ashore for 3days/year.
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Re: Insurance

Post by fishingrod » Sun Jan 12 2020 17:04

NAV & GEN...Part of Zurich Ins.. @ £90..pa
Had 3 claims with them..app £6000...NO PROBLEMS.

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Re: Insurance

Post by Esoxuk » Mon Jan 13 2020 09:33

I use Craftinsure http://www.craftinsure.com/ you can get a free online quote, if you aren't happy with the price simply don't click buy. Be realistic with your valuations and I'm sure you will be happy with them as the quote is based upon the total value of the boat & gear.
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Ben
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Re: Insurance

Post by Ben » Mon Jan 13 2020 09:57

I was always with Porthcawl but based on big Shaun’s experience with them I won’t be using them ever again.
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Re: Insurance

Post by Edward.P.A.C » Mon Jan 13 2020 11:11

Duncan Holmes wrote:
I use Porthcawl and have been ok.

But TBH I haven't had to have a claim, which is the only.time you really know if you have good insurance or not.

Just ask Shaun about the hassle he had with them.

Nav and Gen is who I’m with. But as you say it’s only when you have to claim you find out how good (or bad) any insurer is.

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Re: Insurance

Post by Mattjb » Mon Jan 13 2020 11:28

Craftinsure for me as well. Never had to make a claim though.

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Ben
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Re: Insurance

Post by Ben » Mon Jan 13 2020 13:33

So apart from fishingrod who said he’s had three claims with Nav & Gen who have been good, has anyone else had a positive experience when making a claim?

Porthcawl are now permanently delisted as punishment for messing Shaun about.

Wonder who Nige Williams uses?
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Re: Insurance

Post by Kev Berry » Mon Jan 13 2020 19:56

Porth Cawl are just brokers for Nav and Gen aren't they?

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Re: Insurance

Post by Will Smith » Mon Jan 13 2020 20:46

Could someone please enlighten me as to the hassle Shaun had with Porthcawl, I have three boats insured with them currently and may be persuaded to change insurers at next renewal depending on what I hear.
Is there a post I can read about it on here or could someone please summarise ?

Will

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Re: Insurance

Post by Kev Berry » Mon Jan 13 2020 21:34

Just looked up Porthcawl---they are not insurers just consultants, they are underwritten by Nav and Gen

so any claim problems would surely have been from Nav and Gen :scratch:

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Re: Insurance

Post by Edward.P.A.C » Tue Jan 14 2020 03:41

Kev Berry wrote:
Just looked up Porthcawl---they are not insurers just consultants, they are underwritten by Nav and Gen

so any claim problems would surely have been from Nav and Gen :scratch:
No Kev, they are not.

Porthcawl are brokers. They are underwritten by whichever insurer they take your policy out with. Which is where problems can arise, as Shaun found out when trying to make his claim. He was unable to contact the insurer directly and ended up going round in circles with whomever his "case worker" at Porthcawl was. We spent a wonderful day fishing together last year with him doing very little fishing, and an awful lot of trying to "catch" his agent on the phone. This being one of many days he tried this........I cant remember the total length of time it took to sort his issue, but it was well into months.
Im sure if he wants to share his experience he'll pop up at some point......

Nav and Gen are part of the Zurich insurance group, not a broker.

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Re: Insurance

Post by Kev Berry » Tue Jan 14 2020 09:09

Edward.P.A.C wrote:
Kev Berry wrote:
Just looked up Porthcawl---they are not insurers just consultants, they are underwritten by Nav and Gen

so any claim problems would surely have been from Nav and Gen :scratch:
No Kev, they are not.

Porthcawl are brokers. They are underwritten by whichever insurer they take your policy out with. Which is where problems can arise, as Shaun found out when trying to make his claim. He was unable to contact the insurer directly and ended up going round in circles with whomever his "case worker" at Porthcawl was. We spent a wonderful day fishing together last year with him doing very little fishing, and an awful lot of trying to "catch" his agent on the phone. This being one of many days he tried this........I cant remember the total length of time it took to sort his issue, but it was well into months.
Im sure if he wants to share his experience he'll pop up at some point......

Nav and Gen are part of the Zurich insurance group, not a broker.
Looks like I will be insuring direct with Nav and Gen in future then.Thanks for that Karl.
I was under the impression they sold policies and any claims were handled by the insurers. Been with them for years but like someone said you dont know how good anyone is till you make a claim

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Re: Insurance

Post by neil hardiker » Sun Jan 19 2020 10:16

My biggest concern with insurance for my boat relates to depreciation calculations. I’m with Craftinsure and have spoken with Porthcawl and neither offer ‘new for old’ (as several people have said they do) so both apply depreciation. At some point in time, cannot remember exactly when, I seem to recall reference being made to depreciation of 10% per annum being applied to the engine in particular.

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Re: Insurance

Post by Mattjb » Sun Jan 19 2020 11:17

neil hardiker wrote:
My biggest concern with insurance for my boat relates to depreciation calculations. I’m with Craftinsure and have spoken with Porthcawl and neither offer ‘new for old’ (as several people have said they do) so both apply depreciation. At some point in time, cannot remember exactly when, I seem to recall reference being made to depreciation of 10% per annum being applied to the engine in particular.
I suppose if they did offer new for old on boat insurance the rate of fraudulent claims would rocket!

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Re: Insurance

Post by neil hardiker » Sun Jan 19 2020 16:46

More worrying for me Matt, would be the potential for a 10 year old engine to be deemed ‘worthless’.

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Re: Insurance

Post by Fordey » Thu Jan 30 2020 21:12

neil hardiker wrote:
More worrying for me Matt, would be the potential for a 10 year old engine to be deemed ‘worthless’.
Neil, with all due respect, it would probably be deemed at 5% of new buy cost. In your opinion would it be worth more?

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neil hardiker
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Re: Insurance

Post by neil hardiker » Thu Jan 30 2020 22:57

Hi Ian, I have a 10 year old 30 hp 4 stroke Tohatsu which has been regularly serviced and has low hours. 5% of new list price works out at around £150 - I’d certainly value it at more than that.

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Ben
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Re: Insurance

Post by Ben » Fri Jan 31 2020 13:40

Neil I’m not sure you’ve worked that out right pal, it’s not 10% depreciation of the purchase price (£400) each year...

Year 1 £4000 (new)
Year 2 £3600 (- £400)
Year 3 £3240 (- £360)
Year 4 £2916 (- £324)
Year 5 £2363 (- £291)
Year 6 £2127 (- £236)
Year 7 £1915 (- £212)
Year 8 £1724 (- £191)
Year 9 £1552 (- £172)
Year 10 £1397 (- £155)

If I’m right and it’s calculated like this I think the final figure is quite generous for a 10yr old donk
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Re: Insurance

Post by neil hardiker » Fri Jan 31 2020 20:36

Ben wrote:
Neil I’m not sure you’ve worked that out right pal, it’s not 10% depreciation of the purchase price (£400) each year...

Year 1 £4000 (new)
Year 2 £3600 (- £400)
Year 3 £3240 (- £360)
Year 4 £2916 (- £324)
Year 5 £2363 (- £291)
Year 6 £2127 (- £236)
Year 7 £1915 (- £212)
Year 8 £1724 (- £191)
Year 9 £1552 (- £172)
Year 10 £1397 (- £155)

If I’m right and it’s calculated like this I think the final figure is quite generous for a 10yr old donk

If you’re right Ben, I’d be inclined to agree with you.

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