Who are you insured with??

[Angryant]

Looking at insurance for my boat/trailer:

Who are you insured with and how good are they?

Input would be appreciated.

Andrew

[Wahoo]

I'm with Club Marine, don't know how good they are as i never used them


Daz

[rowanda]

with Club Marine and had to make my first ever insurance claim last year (for the boat covers) was handled quickly and very litte fuss. Was going to go with nautilus this year as initially they looked heaps cheaper, but by the time i took off the CM magazine subscription and waters skiers, CM were actually cheaper as well

[rosco1974]

club marine.....seem to be ok...broke a $300 fishing rod while traveling outside claim was processed without a problem...cheers

[tenzing]

Club marine as well. I found their definitions especially regarding boat storage and security plus on board gear covered at home , better than the others at a similar price. I rang two other providers and their operators were unable to answer some pretty basic questions about their policies.
Brendan

[jtpython]

Club Marine as well don't think you can beat them for quality
JT

[dnej]

Club marine, agreed value.
Nrma, cheaper, and no inspection required, and agreed value.
Read the actual document from front to back, before going into anything.
You can get it on the internet.
Do a search on Ausfish, there is a heap of stuff that will help
David

[Chamelion]

club marine... had to claim for damage earlier this year, $1000 worth. The repairer wasn't so confident that they would come to the party, but they did. So far so very good. :)

Matt.

[deefa66]

RACQ, around $300( discount for membership) on $30000 boat, $200excess.

Recent $3000+ claim assessed and approved within week, all new parts.

Pretty happy

Cheers Dale

[Nanny King NQ]

Suncorp,

multi policy discounts so its cheapm had some gear knock off a few years ago and they paid out no dramas replacement value not agreed value all i will say is take a picture of everything you buy as it will help with the claim. My tackle box was stolen all up about $2500 to replace everything that was stolen. The assesor laughed when he saw that amount but after i provided him recent photos of all the trays, lures, plastics, pliers, knives, etc, he went and started to price the replacement costs, not cheap as I only use Gamakatsu and Owner hooks I even replace the trebles on my lures with owner.

Long story short they are great, my sugestion to everyone is get a quote of every mob that will insure you and their PDS, compare prices and PDS, then ring the companies back and tell them what the other companies will do with their product and then they better the price.

You can only win in the insurance market and get what you want. You have to tell them, you can get other clauses added to your existing policy and you can also get clauses deleted. I pay no excess each year for example on the first 2 claims.

[dnej]

Neither RACQ or Suncorp are agreed value.

NRMA is your best bet.
David

[dnej]

http://www.ausfish.com.au/vforum/showthread.php?t=145098&highlight=agreed+value
There is some good reading here. A must.
Note the final post.
David

[Ocean_Spirit]

Club Marine.

From experience, they seem to know the marine market better than anyone, and deliver very quickly. By specialising in boats, they know what can go wrong!

We had to make a claim about 6-7 years ago with them, and it was processed very quickly. The 3 month hold-up was with the very unprofessional local marine dealer.

I had friends who had to make a claim about 12 months ago, and they had great service.

[charleville]

Was with Club Marine for a few years but they were very expensive compared with RACQ (I am a gold member but enjoy no multi-policy bonus).

Have been with RACQ for several years. Never made a claim so I have no knowledge of their performance. They are much cheaper than any of the others for my boat and locale, etc.



.

[Nanny King NQ]

Neither RACQ or Suncorp are agreed value.

NRMA is your best bet.
David

David,

I hate to burst your bubble but as I am insured with suncorp as stated in my earlier post you can get extra clauses added to your policy. E.g. when I had stuff stolen a clause that was added was new for old. My boat, trailer is insured for an agreed value.

[dnej]

From Suncorp.

New for old for 2 years only.
Market value after that.
David


What does 'market value' really mean?


Market value is the value of your boat in your local market, for example, the amount it costs to buy your boat (including GST) from a reputable boat dealer in your area. Market value is generally based on:
Boat type
Manufacturer or builder
Model
Specifications
The age and condition of your boat including wear, tear and maintenance history
Modifications made to the boat.
We take into account the market value of your boat in assessing your application for insurance and assessing your premium. We will use an industry guide to estimate your boat’s market value. If the market value is not published in an industry guide, we will ask you for your estimate of your boat’s current market value. We may ask you to obtain an expert opinion on the market value of your boat at your own expense.
Market value typically fluctuates so at claim time, we will need to re-establish the market value of your boat if you lodge a claim that may result in a write-off. We will pay the cost of obtaining your boat’s current market value at the time of the claim.

[The-easyrider]

I used to get car ins for an agreed thinking I was sweet til you read the fine print and the pay out was agreed or market value whichever was the lesser amount

[dnej]

This is from Suncorp web site.

Comprehensive cover limits
Third party cover is included and its limits also apply.
For theft, accidental loss or damage claims for the boat described on
your certificate of insurance, the limits are shown in the table below.
You cannot increase the limits.
Limits apply to: Limit for any one insured incident

Boat hull up to

market value of your boat hull


Motor up to




market value of your motor


Trailer up to




market value of your trailer


Boat contents up to the




market value of each item but


no more than:

––




$1,000 for an EPIRB, VHF or HF radio


––




$500 for any other item


––




$5,000 in total for any one claim


Additional features The amount or limit shown for that additional

feature, see pages 53 to 58.
Optional covers No special limits apply
Geographic limit
Boats are covered anywhere on the land and waterways of Australia but
only up to




200 nautical miles from the Australian mainland and Tasmania.

Speed limit

Boats are not covered when exceeding




60 knots or its maximum design
speed, whichever is less.
The above is how Suncorp pay.
David


I checked the product disclosure statement from the web site for Suncorp.
If I were with Suncorp, I would nake sure I read it from cover to cover.It is the bible of the cover you have.
David

[dnej]

This how NRMA covers you.
David
Boats – what we will cover

Your boat is made up of the hull,

plus any

• motors
• sails, and

• trailer
depending on the type of boat
you own.
There are separate agreed values for
each of these, and they are shown on
your current Certificate of Insurance.
Together they make up the total
agreed value.
If your boat or any part of it suffers
loss or damage caused by an incident
described on pages 6 to 11

we will

 repair or replace the
damaged item, or

 pay you the reasonable cost
of repairing or replacing the
damaged item, or

 pay you the agreed value for
the damaged item, or

 pay you the total agreed value

however

 the most we will pay for any item
is its agreed value

 the most we will pay for all items
is the total agreed value

 when we pay you the agreed value
for the hull, you have 14 days to
replace the hull or your Policy
comes to an end

 when we pay you the agreed value
for either the motors, sails or trailer

• that item is no longer covered by
your Policy

• the total agreed value of your Policy
shown on your current Certificate
of Insurance is reduced by the
agreed value for that item or items

 you will need to pay any excess
that applies

 your No Claim Bonus may
be affected.

[Ratman]

I'm with Suncorp at the moment, Market value ONLY.

What sh.ts me is they ask you for the value of your boat, motor, trailer, separately and work out your premium from there.

Then your only insured for market value.

They say that owners over inflate their boat's value. So you ask them over the phone for their value and they say they can do that. But if all goes pair shaped you could have been paying a reduced premium for what they will give you. Can't understand why.

Mick

[TheRealAndy]

Neither RACQ or Suncorp are agreed value.

NRMA is your best bet.
David

Stop saying this because its not true. I am with RACQ, agreed value.

[dnej]

Andy, the post above the NRMA, is from their web site.It shows how they pay on a claim. Ot is based on market value.
It speaks for itself.They do not offer agreed value.Never have.
Sorry.
David

[The-easyrider]

Speak to Richard at access insurance brokers he has put together a package for boaters and he is one himself it was put together with help from, and for members of moreton bay trailer boat club but you dont need to be a member to get it. No need to break up boat,motor, trailer values and very competive price wise ph 33445226 .

[TheRealAndy]

Andy, the post above the NRMA, is from their web site.It shows how they pay on a claim. Ot is based on market value.
It speaks for itself.They do not offer agreed value.Never have.
Sorry.
David

I am with RACQ, not NRMA.

The PDS whilst not stating agreed value, more or less says they will cover you for what is stated in the certificate. My certificate has an agreed value.

[dnej]

Comprehensive insurance RACQ website PDS


Settling your claim

If boatcover comprehensive insurance is shown on your
certificate of insurance, we insure you against loss or
damage to your property caused by an accident/event or
theft, during the period of insurance. We may choose at
our option to:
• repair or replace your property; or
• pay you the reasonable cost to repair or replace your
property as at the time of the accident/event or theft.

If your property is a total loss, pay you or any financier
who has a financial interest in the property the lesser of:

• the market value of your property at the time of the
accident/event or theft;
or
• the sum insured shown on your certificate of
insurance.

We may require you to contribute to the cost of
replacement or repairs if as a result of the replacement or
repairs your property is in a better condition than before
the accident/event.
If we pay the maximum amount for loss or damage, your
policy ends automatically. You are not entitled to any
refund of premium. If you have been paying by monthly
direct debit instalments, we will deduct from the claim
payment an amount equal to the outstanding monthly
instalments for the period of insurance shown on your
certifi cate of insurance.
We are entitled to claim the wreck

So, with RACQ,you can insure for what you choose, and pay the premium,

But if that is more than what they recon its worth , that is market value, market value is what you will get paid out.

Similarly, if you under insure, and market value is more than that amount, then you will get the lesser amount.
David

[buggerit]

Well good or bad i'm with NRMA as is 3 vehicles , house and contents .

[TonyM]

I've been with NRMA and ClubMarine for different boats, I've never had a claim for anything boat related, although I have had car and house claims with NRMA and they were very good with those.

The thing that annoys me most with boat insurance is I have been unable to find an insurer that will cover your gear (tackle etc) unless you have a lock up cabin - all of the ones I have spoken to will not accept rod lockers, or deck hatches within that definition. If anyone knows of any that will cover that and are reasonable to deal with (and fairly priced of course) I'd love to hear about it.

I figure a broker might be my best option to try to get the policy I want.

Cheers
Tony

[dnej]

Tony,
You are spot on, in regards to theft.Yet they will cover you for goods left in the open air,with your house insurance.Well some will anyway.

You may, and I say may, be able to get it covered under special items in your house insurance. Most dont cover sporting goods, but it is worth a go
David

[PinHead]

mine is with QBE..agreed value

[dnej]

Thanks Pinhead, that is one I didnt know about. Good to know.

Just watch that sentence, in the PDS about something that is not nominated.They only pay market value on that item.
David

[PinHead]

Thanks Pinhead, that is one I didnt know about. Good to know.

Just watch that sentence, in the PDS about something that is not nominated.They only pay market value on that item.
David

all mine are listed and all agreed value...the value of having a good insurance broker.

[Bear001]

NRMA - have never had a claim.

Im with Tony on having trouble covering rods etc? Any suggestions welcome.

[Zooter]

NRMA for me, everything i have is covered with NRMA.

Agreed value, total on trailer,hull and motor is 15k, costs me $28/month.

claimed a stolen motor on last boat and was payed out within a 14days,

No problems at all,

LOL actually the police didnt even to bother to come and look at anything, just got there hotline and a case number to give to NRMA,

Easypeasy :)

[Rod_Bender]

Suncorp by 2!

[PinHead]

NRMA - have never had a claim.

Im with Tony on having trouble covering rods etc? Any suggestions welcome.

my house contents insurance covers any items up to a total value of 3000 when away from the house...that covers rods, reels, cameras..etc etc etc

[Ratman]

My Suncorp insurance just went up $18 a month. No letter advising me...just bumped it up.....good work.

Called them and reply was my insurance was up for renewal and due to recent events, B.S. and more spin, the premiums had to go up. So we all pay for some poor buggers claims. (No offense to them)

I guess thats just the nature of insurance.

I'm going for a broker now.

Mick

[finding_time]

My suncorp insurance is due tomorrow at 4pm, cost $731 and am very unhappy about certain things 1/ being agreed value and 2/ being exclusion for motor damage due to plastic bags ( a new sub clause):-[

So i rang NRMA, yep agreed value, no mention of exclusions for plastic bag and at $ 530 i'm very happy!:D

The house was due at the same time so i got a quote on the house as i was going to combine the policys, well the house was $800.00 more than Suncorp for exactally the same product:o :o :o So the boat is with NRMA and the house is Suncorp, Argh cant win them all:-/

Thanks to all who posted you just saved me a fair bit of worry and $200 bucks;) :D


Ian

[Dean1]

Mine boat is with suncorp I couldnt find cheaper.

Just went thru it with house insurance and suncorp are cheaper.

Suprised to hear suncorp boat insurance has gone up, I paid 12 mnths about 2 months ago must have got in in time!

Will try NRMA if its dearer next year, my car is NRMA different prices for different things it looks!

[Ratman]

Dean,

That increase was across multiple items. (4)

Private health insurance gone up as well. :-[

Mick

[dnej]

Dean !, dont just buy on price alone.
David

[TheRealAndy]

Dean,

That increase was across multiple items. (4)

Private health insurance gone up as well. :-[

Mick

Yeah dirty f**ckers. My MBF premiums just shot up nearly $20 a month. Figured it would happen after privitisation. Mind you, I got a few thousand out of them when they sold up. Time to put health insurance trhough bank or broker now...

[stinky-stabi]

RACQ....never claimed ......cheap and helpful

[AnthonyL]

I am with NRMA.. agreed value 33,000 and that costs me just over $50 per month.

I have made one claim for electrical gear that got stolen while we were on holiday. They took a reasonable time to send us a cheque (reasonable for insurance companies).

We paid Theo & Mick at Mr T's with the cheque but they went broke before we got our sounder, so now we feel robbed twice.

[martinies]

I heard club marine doesn't cover if anything happens to the boat whilst being stored or towed... Can anyone shed any light on this? I'm picking up my boat this week.

Cheers

[Marlin_Mike]

CGU through credit union.
$22K value on the boat for $460 a year, never had a problem.

Mike

[zigfreed]

I heard club marine doesn't cover if anything happens to the boat whilst being stored or towed... Can anyone shed any light on this? I'm picking up my boat this week.

Cheers

Ring them and ask.

I'm with Club Marine and its 24/7 on the water, the road or in the shed.

Even got an inclusion for having it on a semi for delivery i arranged after purchase.


Mick