Just coming to insure new boat and find such a difference in premiums and excess on policy where the cover is much the same. Anyone heard os St Margarets Ins? are they any good?
Just got ours insured with GJW on recommendation of this forum, got lots of cheaper quotes & then asked them to match the best, which they were happy to do.
Yacht insurance is a bit strange compared to other forms of insurance. Vital to look carefully at the small print to establish what is, and what is not included. A classic case is are you allowed to be afloat for twelve months of the year?, some policies restrict you to, for example, nine months afloat and three ashore. Very much a case of being aware of this when comparing the price of policies.
Yes I am with HKJ now and I filled in their on line form on Tuesday. Heard nothing since, and have had all othetr quotes in on same day service. But looking into it, we often anchor for the afternoon in a bay or off the beach at Herm if the weather is calm and I now see HKJ dont allow this in their wording of detail where most others will if your on board or within 15 mins of boat. Have I read that right?
Without knowing your policy I obviously cant comment on that specifically.
I changed from General Accident (Aviva) to Haven Knox-Johnston as the cover appeared wider and more forgiving.
Both of those Policy wordings contained 'Exposed Coasts exclusions' and I would be surprised if other policy wordings don't contain such an exclusion, perhaps others haven't been as thorough in explaining the cover ?
An exposed coast may be a sheltered coast during summer months.
I once went to the trouble to obtain lists of 'exposed coasts' , it wasn't easy at that time, you could ask your broker about a specific beach at a particular time of year.
The quote link I gave you should have given an instant quote .
I'm curious about the concept of exposed coasts. I've not seen it in insurance terms for sailing vessels, although obviously the concept of a lee shore is fundamental in sailing.
I presume it has to do with anchoring. Surely what is a sheltered anchorage today can be an exposed anchorage tomorrow when the wind changes and vice versa, so how can they draw up a list?
What sort of term is typical in your insurance?
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I think thats my point. I can anchor off Herm beach in a force 0, whilst the sea is like a pond and there is no risk to boat. ( Thats really when my wife will only let me anchor at all). But take the same area with a south easterly force 4 and its most uncomfortable, a lee shore and maybe not the place to leave your boat at anchor. How in insurance terms do they classify such areas.
Take another one. Some policy wording states you must have 2 people on board that are experienced and like ST Margerats they state you are allowed up to 12 hours passage singlehanded.
THank god its been a miserable day, I have been ready all the small print and it blows your mind. The conclusion is you pays your money and takes your choice" but more premium does not always mean better cover, just different depending on what you want to do
There was an article in MBM 2-3 years ago on boat insurance. I remember it because we had just bought our boat and were wondering who to insure with. All very well paying low premiums but if they don't pay up... similarly is paying a high premium any guarantee of them treating claims more fairly?
I can't remember all the detail but they recommended about 5 insurers as best buys, taking all the above into account. I rang them all and went with the cheapest, which incidentally was St Margarets in our case. They had a good reputation all round I seem to recall, whereas some of the other well known names weren't always as good as they would have you believe (HKJ being one I think).
We've thankfully never had reason to claim, but all I can say is whenever I have telephoned they answered within 3 rings with a friendly human voice, and were able to deal with my queries directly without transferring me to half a dozen different departments.
Needless to say I've stuck with them! Good service, reputation and price.
St Margarets and KNox Johnson, both have the same address............even more confusing
They're both owned by Amlin. Not sure if they're just different brand names or genuinely separate operations. Given the shared address I'd guess that they share at least some of their resources
If you are not sure of any wordings on policy, the best advise would be to ask for any explanation as to that wording. I'am with HKJ and they seem good. I asked one broker about exposed areas definition and he said, at the time of mooring or anchoring was that area exposed to the elements. If it wasn't and an indecent happened they would argue that in your defence.
David
If you are not sure of any wordings on policy, the best advise would be to ask for any explanation as to that wording. I'am with HKJ and they seem good. I asked one broker about exposed areas definition and he said, at the time of mooring or anchoring was that area exposed to the elements. If it wasn't and an indecent happened they would argue that in your defence.
David
Now that makes sense to me. Thanks David. IM with KJ at the mo but I have to say the wording on St Margerets small print makes slightly better cover for my type of boating and mught well change.
All policies seem to have this bit about exposed beaches though.
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