Boat Insurance???

[chrispad]

Hi All,
My son has just ordered a new boat which won't be ready till the end of February and he was wondering what insurance company you guys all use. He was going to insure it through Club Marine however he read one of the forums about some bad experiences that people were having with them when if and when it came time to make a claim e.g. very slow in paying if at all, putting up all kinds of obstacles before allowing a claim etc etc. Would like to hear about your experiences both good and bad and who you would recommend or who to steer clear of and why.
Cheers,
Chris.

[jameshallam]

i ve been with club marine for 14 years and havent had a problem with them never had a accident etc

[FishHunter]

Go into it with the thought that all insurance companies are in business to take your money and not pay out if possible, so don't make it possible.

Pick the one with the PDS that fits you best and then take as many pictures and keep as many receipts etc as possible and you will be ok with any of them.

[BigAllan]

I was insured with Nautilus and my boat (38' V8 petrol inboard) caught fire while the mitor was running on the mooring. Couldn't put it out & burnt to the waterline and sank. Lots and lots of questions but they paid up. Didn't cover extras and be careful of value insured. I agree with Fish Hunter Reed the PDS. I was insured Club Marine prior to that but didn't have a claim. Good Luck.

[Moonlighter]

Im insured with RACQ these days. Had been Club Marine for many years, then changed to Suncorp for 3 or 4 years.

Found out a couple of years ago that Suncorp changed their policy conditions and excluded things like damage from engines sucking up plastic bags, and as Im a Gold RACQ member, had a look at their policy and PDS - looked OK to me and price was keen with member discount. Less excess pyable for claims too.

So RACQ now has my business. Happy so far, but no claims made so no experience at that side of it, and hope I dont need to either!

Cheers

ML

[TheRealAndy]

I got one policy with RACQ, and one with Club Marine. CLub marine is easy, RACQ a pain in the arse. With RACQ, you have to have a price breakdown on all parts (trailer, hull, outboard) before they will insure you.

Problem for me, is that RACQ does not understand boats, so I had to insure the sailboat with Club Marine cause I needed racing insurance. I am sure RACQ could do it, but it was all just to hard in the end.

BTW, never made a claim for boats, but have all my other policies (home, contents, cars) with RACQ and making claims is a walk in the park.

[trueblue]

I asked club marine a bunch of questions at the boat show, and they were a pain in the arse, all talk and no answers

[chrispad]

Thanks for your replies guys, it seems like a real minefield out there.

[PADDLES]

it is a minefield mate, jump online and read ALL the PDS's you can find and make an informed decision. like pinhead has mentioned in other insurance threads, also look at getting cover extended on other insurances you may have, for example your contents insurance may be able to be extended to cover your fishing gear etc.

don't necessarilly just look at peoples "bad" experiences as a gauge of how good an insurer is and always remember that an insurance company is just like a big casino, they're gambling on you not making a claim and in order for them to process a claim they will always ensure that you have complied with every aspect of their PDS or they simply won't pay.

[Bouttime]

Mate i am with CGU insurance.I had to make a claim a few years ago after hitting a submerged object:'( ,.just watch those rockbars,they jump at you.No problems at all,quick payout with no silly questions.

[tigermullet]

Call me cynical but I believe that you are insured until you have a claim - then you're not.

[marty666]

i am with suncorp cost about $500 more out right than club marine, but i ended one cover and transfered over to the new boat so it only set me back $200 out of pocket, but all my insurances are through them so for the ease and convenience just stayed with them maybe change to club marine next time if there is still a big gap but i dont plan on making a claim

[Marlin_Mike]

CGU for me

[ozscott]

RACQ is good.

Cheers

[dnej]

Do yourself a favour, and do a search in the boating section. There is a squillian of info in there on this very subject
David

[Axl]

CGU for me

CGU for me as well I havent had to make a claim as yet and hopefully never will. I have my boat ,cars, house and contents with them.

It pays to shop around I recon and if you can bundle them all together youll save a few bucks.

[435_Mark]

As already mentioned BUT worth repeating. Suncorp no longer covers any damage to your motor if you pick up a plastic bag and seize your engine. One plastic bag and your up for literally, thousands of dollars.

Cheers,

Mark

[marvin]

Been with suncorp for my 23yrs of boating, owned 3 boats, had 4 claims, got paid out on first 3 with no problems through suncorp, premiums went up every time I made a claim, as did excess. Last claim for the contaminated water in teh fuel business in november, but not covered in the PDS, so no joy. Club marine would cover this incident along with the blocked water intake that suncorp now do not cover. So on the renewal date, I will be changing to Club Marine, incase god forbid I get punished again.... kev.

[team_mongo]

Been with Club Marine 8 years. One claim, bearing failure, welded axle and blown and shredded tyre and rim. Claim went smoothly, all sorted within a week.

[Paul007]

I'm wondering how to decide how much I should insure my 10 yr old Cruise Craft Outsider. I have just left it at the value that it was when it was new but I don't know if I am under or over insuring it.
The policy says it is for agreed value but they have neer seen the boat so how can they agree with what I value it at?
It is with Club Marine ... never had to claim but I'm thinking of changing to CGU at renewal time because of the good reports in here and also because House and contents are insured with them.