Looking at either NRMA or Club Marine. Trying to determine which insurer would be best for catastrophic losses. Guess they are the losses which may cost the most.
Anyone got any advise about which way to go

Ramona said...
Consider Nautilus too. Check whether the companies will actually cover you, some don't cover certain areas in NSW now.

+1

Do many people have 3rd Party only.... Just looking at a few different options.. If so who with ?

Thanks for all the advise, I will check out Nautilus, however I vaguely recall someone saying they don't cover yachts on swing moorings.

QBE will give fully comp on a swing mooring

Jedibrad said...
Do many people have 3rd Party only.... Just looking at a few different options.. If so who with ?

G.I.O. will do a 3rd party cover, called 'Essentials".
You may have to get a survey done.

Ramona said...

morningsun said...

Jedibrad said...
Do many people have 3rd Party only.... Just looking at a few different options.. If so who with ?

G.I.O. will do a 3rd party cover, called 'Essentials".
You may have to get a survey done.

The "Essentials" policy only covers yachts on moorings under 7 metres!!!!!!!!!!!!!!!!!!!!

I ended up using Apia. Just another advantage of being a pensioner.

I have comprehensive with G.I.O. on a just surveyed cold moulded timber / glass 10 mtr yacht on a mooring. I also have never made an insurance claim be it boat, car or house. I dont know if that reflects on their decision to cover me.

MorningBird said...
I hadn't considered them before so I just rang GIO for a quote on my SS34. The most expensive quote I have ever got, $1750 pa. I pay $1050 with Nautilus. GIO wouldn't cover Lord Howe.
Apia 3rd party $120.
If I can't get better coverage for things like my rig going over the side then Apia is looking very good.

With sharply rising insurance premiums quite a few people are going public liability only.

I believe Suncorp does it for about $90.

You mean the young bloke with tremendously good looks in a compact package!!!
I just asked the APIA lady what 3rd party would cost me. They wanted to know the mooring postcode, construction, diesel/petrol, age etc. The answer was $120.80 to be exact.
It might be the high crime area where you live, full of geriatric pensioner vandals that go around taking photos of other peoples property, they need the higher premium for.

Probably the short bloke.

The tall bloke does the overwriting.

MorningBird said...
You mean the young bloke with tremendously good looks in a compact package!!!
I just asked the APIA lady what 3rd party would cost me. They wanted to know the mooring postcode, construction, diesel/petrol, age etc. The answer was $120.80 to be exact.
It might be the high crime area where you live, full of geriatric pensioner vandals that go around taking photos of other peoples property, they need the higher premium for.

Paper work arrived today and it was $120.80. I must have had a senior moment and miss heard.
For my dinghy racing I use Nautilus 3rd party. That costs $50 but also covers racing. Its a fixed price for recognised classes.

HaveFun said...
I note from the Nautilus website that it is an agency underwritten by various Loyds syndicates and has only been around for only a few years. The website discloses they are an agency underwritten by a number of syndicates at Lloyds with a binder which allows them to assess and pay claims. I note they have a warning which says that in the event of a claim they act for the Lloyds syndicates and not you the boat owner. Has anyone had any experience on claims and if so what type of claim and what was your experience.

Nautilus is the insurance company linked to the Yachting Association web page. They seem to be the company of choice for dinghy racers. Some of the yachts that were beached a few months ago at Jervis Bay had trouble with their insurance covers. I do not know which companies were involved just that there were problems and some people had policies cancelled and some were told to go elsewhere next year.
Interestingly I had a quote from CGU arrive yesterday in the mail. They told me they would not cover me on the phone because the yacht is over 30. The quote for comprehensive was just over $800 which is very competitive, no mention of rig age or a survey!

I've used Edward William for a few years, easy to deal with, no survey required,
probably fight to the death over a claim but they all do!