NSW
2710 posts
Insurance is only worthwhile if the claim gets paid. Having spent some time consulting in the industry, cheaper premiums correlate with less claim payments.
Yep, get the best deal you can, but buyer beware.
I went with the company with the best payment history, not always the cheapest.
359 posts
Can I suggest the website could be improved by listing the marine insurance brokers that may assist if you have an older vessel, or are willing to accept smaller geographical regions or carbon masts etc.
For example I find Helm insurance to be competitive for an older boat (1981) on a swing mooring. I accept NSW only, but when I want to go further I change my policy (for example $200 extra for Tasmania cover for 90 days).
So far never made a claim, but I'm hoping the broker would work for me if an incident occurred.
NSW
1213 posts
You are quite right. But many I emailed didn't reply. I'll check up on that one!
NSW
1322 posts
I posted this question last week but it seems it was deleted. The question is does anyone know of an insurer for an older boat that does not insist on renewal of the rigging after 10 years. I only sail in sheltered waters, and the rigging looks good and is circa 12 years old.
QLD
4462 posts
My understanding is that if the rigging is older than 10 years the boat will be insured except for damage resulting from a rigging failure.
So for example if it catches fire and sinks your insured, if it loses the rig and runs aground as a result and sinks your not insured.
Best to check to be sure
VIC
611 posts
Yara my understanding of my Pantanaeius policy is that you don't need to renew the rig but if you don't then the mast and rigging are not insured.
ACT
236 posts
My Pantaenius policy PDS says:
s7. Rigging Exclusion
Unless otherwise stated in your Schedule, this Insurance does not cover any loss or damage caused by the failure of spars
or rigging (or parts thereof) which are made from wood, fibreglass or galvanized metal, or are a rotating rig, folding rig,
wing rig, unstayed rig, carbon rigs, or any rig where the standing rigging has not been replaced in full for over 10 years
unless such failure is proximately caused by impact, collision, grounding, fire, theft, lightning or total loss of the vessel.
As I read this (NB I am not an expert) your vessel is covered (subject to all the other Ts and Cs), even with rigging more than 10 years old, if the proximate cause is impact, collision, grounding, fire, theft, lightning or total loss of vessel. I take that also to mean that if the proximate cause is rigging failure when its more than 10 years old, then you're not covered.
There's lots of other stuff in the PDS, though not about rigging. Best to read the product disclosure statement and policy Ts and Cs as that's the only way to know when you're buying what you are and aren't covered for.
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