sail-world.com
 
 
News Home Video Gallery Photo Gallery

 

Sail-World.com : Insurance

Insurance

If you’re lucky or smart, then you have a favourite broker or insurance company who looks after your every need. However, over the last few years, there have been many changes in the marine insurance world, and it pays to shop around. One of the problems with yacht insurance for a large number of the cruising fraternity is for those whose boats are worth less than about $2,000,000. Many of the marine insurance companies don’t want to deal with the small end of the market.
Check the small print -  Media Services  

Here are some links that cruisers have had success with, some at competitive prices:


Club Marine
Yachtsure
QBE Insurance
Pantaenius

The difficulty of getting insurance at an affordable price, or, indeed at all, becomes a major issue for long distance cruisers – such a problem that there are a great number of cruisers are going ‘insurance free’. This works until they have a major problem or want to enter a marina that insists on insurance before accepting the boat. Some marinas provide third party insurance just to cover these eventualities. This is certainly true right across the Mediterranean





Insurance Tips

• Shop around, shop around, shop around.
• You can lower your insurance premium by increasing your excess. In doing this you will want to consider how much of a loss you can afford to absorb if you have a claim.
• Keep your coverage current. Check at least once a year to make sure that your policy provides adequate coverage.
• After 12 months you can receive the renewal for a greatly inflated premium AFTER the renewal date. Make sure that you ask for a requote with plenty of time to change insurers if necessary. Sometimes the premium changes for reasons unrelated to your boat, especially if the re-insurer has reassessed the type of insurance they want to be involved in. We have had many yachting friends caught by this problem.
• Make sure you are dealing with licensed agents and companies.
• Pay your premium in full. Also, pay before the due date to avoid the risk of cancellation. Do NOT depend on a grace period. Keep receipts of payment in a safe place.
• Pay your premium EVEN IF YOU DISAGREE WITH YOUR INSURANCE COMPANY, then pursue your disagreement - unless you are prepared to travel uninsured. Non-payment of the premium may render the boat uninsured.
• Read your policy and make sure that it lists all coverage you have requested. Know exactly what your policy does and does not cover.
• If travelling internationally, be careful of the 'War Zones' exclusion. Sometimes it covers half the globe.
• Know the name of the insurance company and the reinsurer insuring your boat as well as the name of the agency and agent if you have one. This information is found on your policy.

If you have an experience that you would like to tell us about to assist fellow cruising sailors, please email cruisingeditor@sail-world.com




by Sail World

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=20122

4:39 PM Tue 22 Nov 2005 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
Practical

Related News Stories:

31 Jan 2014  Ten boat safety checks every skipper needs to make
05 Jan 2014  In-mast furling - is it the 'no-no' we've always believed?
13 Nov 2013  Product of the week: One Sailor MBS for single-handed docking
29 Oct 2013  Get your DSC-equipped VHF hooked up right
14 Oct 2013  Evolution Autopilot - top honours in Marine Electronics Awards
30 Sep 2013  Product of the Week: Safer and easier docking - SlideMoor
17 Sep 2013  Mountain bike torch great for tough sailing conditions
16 Sep 2013  Product of the Week: Drawer fridge for cool-keeping and accessibility
25 Aug 2013  Rig your own sailing boat? Yes, you can!
23 Aug 2013  Product of the Week: The LED ringed switch
MORE STORIES ...

News - USA and the World





















HUD Vision: An interview with Afterguard Marine’s Alex Moret *Feature by David Schmidt, Sail-World USA Editor, Seattle














America's Cup: Expected de Ridder penalty should be reduced *Feature by Richard Gladwell/Sail-World.com/nz, Auckland, NZ
















Congressional Cup - Victory for Taylor Canfield and crew by Rich Roberts (As Amended by ISAF),




2014 Halifax – Saint-Pierre Ocean Race by Patricia Nelder, Nova Scotia












Charleston Race Week - Photos by Chris Howell
Image Gallery: Stratis SL33 flies on the Waitemata
Audi Melges 20- Sperry Topsider Charleston Race Week - Light final day
Clipper Round the World Yacht Race - PSP Logistics prepares for USA
ISAF Sailing World Cup Hyères - Crème of the crop to compete
Congressional Cup: Luna Rossa makes podium in first event
Int 14 World Championships 2015 launch new event website
International Optimist Regatta Clinic and Team Race - Register now!
Congressional Cup: World top rankers finish that way in Long Beach
Sperry Top-Sider Charleston Race Week Day 3 finale
America's Cup: Gino Morrelli outlines the new AC62 design
Doyle Sails New Zealand signs Andrew Brown as One Design Manager
America's Cup: Dean Barker's Blog - A sail with the Duke and Duchess *Feature
29er World Youth Sailing Week Easter regatta - Day 1 and 2 overall
C Thomas Clagett Jr Memorial Clinic/Regatta - Entries start to roll in
50th Congressional Cup: See the delayed coverage and media conferences
Clipper Race 10 Day 27: Closing stages - Qingdao to San Francisco
Canfield, Williams, Bruni, Swinton in Congressional Cup final four
Sperry Top-Sider Charleston Race Week - Day 2
Audi Melges 20 Charleston Race Week - Perfect conditions in Charleston
Oyster Regatta Antigua - Full on ocean conditions for day 3   
PWA World Tour - A taste of things to come at La Torche + Video   
Women's International Match Racing Series kicks off in June   
Melges 32 Audi Tron Sailing Series - Action shots by Max Ranchi   
Clipper Round the World Yacht Race - Frustrating conditions   
Man rescued after falling overboard in Pacific taken to hospital   
Sperry Top-Sider Charleston Race Week 2014 - Youth leading Melges 20   
Congressional Cup - Canfield leads toward Congressional Cup sailoffs   
Sperry Top-Sider Charleston Race Week 2014 - Perfection for Day 1   
America's Cup: Coutts claims ISAF Jury on a crusade, backs Kiwi report *Feature   
Clipper Round the World Yacht Race - Will light winds hamper progress?   
Les Voiles de St. Barth - Preparing to rock Saint Barthélemy waters   
Clipper Round the World Race - OneDLL and Qingdao now in San Francisco   
America's Cup: Emirates Team NZ up against funding hurdle for year *Feature   
Melges 32 Sailing Series Napoli - Day 1 images by Stefano Gattini   
50th Congressional Cup: View the Live racing here   
Melges 32 Sailing Series - Napoli action shots by Max Ranchi   
Volvo Ocean Race - Team Alvimedica launch new boat   
Emirates Team NZ: Royals duke it out on the Waitemata   
2014 Charleston Race Week - Thousands of sailors descend on Charleston   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
X6XL WAS US