Insurance

[piquet95971]

Who do we use for insurance on our boats?
How easy is the process to navigate?

I suppose that before I take the boat to Yarrawonga I should at least investigate and see what is involved.

[Greg]

Pete
There's an ad been running in the newsletter for Nautilus Marine for some time now. I haven't heard any complaints yet.

[Darren]

Hi Pete,
The insurance is underwritten by Nautilus.
The contact is Alan Marsden from Fergusons.
The advert for Fergusons is in the Newsletter with
from memory a picture of Skiffo and boat.
Cheers
Darren

[piquet95971]

many thanks
ill have a chat to them

[RightyO]

Pete
I have been going with RACV boat ins .I have found them very reasonable with down time option and they have not required a boat condition report .
Ken.

[piquet95971]

Organised insurance through Fergusons. They would only insure for $3500 with out an independant valuation. So I have gone with them until I get the valuation.
I suppose that some is better than none!

[piquet95971]

Not much difference between Fergusons and RACV. RA will insure it for more with the prmium about the same.

[piquet95971]

The boat is now insured.

After talking to both insurers it boiled down to the fact that after being honest and saying that I purchased the boat for $3,500 and explaining that replacement was a multiple of that figure, there was one that would increase the value above the purchase price.

So what I should have done was not tell the truth about the purchase price and then it probably would have been insured for closer to what I believe tha boat is worth.

The option was to get an I independent valuation and then they may be prepared to increase the valuation. One stated the boat was only worth the $3,500 even after seeing photos!

One had the option of increasing the agreed value by 20% without any inspection or getting condition reports. Once I explained that I am a qualified Shipwright it was straight forward.

So Bazinga is insured for $4,200 straight away with a 21 day cooling off period, cover note straight away with lay up cover, skiers cover and right to buy back the wreck!

Great! That's how it all started.