Boat Insurance: RACQ versus Club Marine

[charleville]

Since RACQ have been advertising their boat insurance a lot on TV recently with that annoying woman nagging her husband "Charter boat? What charter boat?" whilst dragging her laundry on the ground, I decided to get an on-line quote as my Club Marine plocy is due.

As a Gold RACQ member, my quote was $306.10 with a $200 excess versus $464.90m for Club Marine with a $100 excess including $27 magazine fee. If I opt to not take the magazine, RACQ are still 43% cheaper than Club Marine.

Any comments about RACQ claims experience, please?

[jethro6641]

Haven't a claim experience yet and hope I don't but I have just changed both of my boats over to RACQ because I wasn't happy witht the service at Club Marine and also as you have indicated Charlie RACQ is much cheaper. When I recently purchased my new boat I wanted a cover note and when I rang Cub Marine I could not talk with any one and when I left a message no one returned my call. In the nd I had to bring my boat half way home with no insurance. On the other hand I have been very happy with RACQ, fast service and good rates. If there insurance is anywhere near as effective as there roadside service they get my thumbs up.

Hoo Roo,

Jamie

[adamleah]

We first insured our boat with RACQ however I changed once they informed me that there insurance will not cover your boat if it is not stored at your place of residence...

This thus means if the rig is in getting serviced at the boat yard and something happens..... tough titties...

I am with Suncorp at the moment .. a little more expensive... however what other companies are out there????

[charleville]

Also got an online quote from NRMA who I have house and contents policies with. Their quote was $384.18.

RACQ is a long way cheaper than anyone else. Must have a look at their policy.

[Lachie1]

Stick with club marine! lotsa stories bout RACQ insurance that i dont like, boat and car. Like when me uncles car got stolen :o :o ::) >:( >:( Dad did a comparison thing like 2 yrs ago comparing RACQ, Club Marine and Suncorp. Club marine is the best even though u gotta pay a little more, suncorp n the racq. Maybe its cos they're specialist marine insurers they have more knowledge or experience or somethin too.

But like adamleah said not very comprehensive if thats the right word ??? But just my opinion anyway. LOL

Cheers, Lachie

[Big_Kev]

Charter Boat Charter Boat.
Don't laugh but that Guy looks just like my father in law in his younger days.
I now call him Captain Bligh, every time he heads out (sand bar, out of fuel, anchor pulls out while asleep drift through pin bar, drops boat on ramp, motor blows up, tide goes out high and dry, snaps rope at marina slams back into pylon.) Don't backcaht me fella I know boats.
Sheet I would hate to pay his premiums RAFLMAO.
Kev.

[clutter]

I have my boat insured with RACQ. As for bad stories about them, well I haven't heard any but I think if you ask around there will be some for every brand. As far as personal experience goes with RACQ, I have found them excellent. My wife was involved in an accident where an uninsured driver wiped out the car, it was a write off. I expected a shit fight to get money out of them but they payed up no questions asked, didn't have to pay the excess and was payed out more than we payed for the car. Obviously someone will have a bad experience but that was mine.

Cheers, Clutter

[bungie]

I have my boat insured under the house/car/contents insurance $164 including either $2m or $5m water skier cover (Cannot remember off hand)

[adrian]

don't know if their boat insurance is the same as i've never claimed but read the fine print 4 times over . had my home and contents with them and had some fishing gear stolen on a trip and they said the fishing was not in the house so it was not covered long way to cast to the water from where i live

anzac

[adamleah]

Bungie... What type of rig is it that can be insured for $164? The replacement value of mine is $18000 and it costs me $385/yr this includes skiers option..

[keen_as_mustard]

FYI - a few years ago I owned a ski boat with a 200HP Mercury on it. After using it own day it just refused to start - took it to a mechanic (who happened to be a Club Marine repairer) and he put it down to picking up a plastic bag in the river and cooking the motor (environmental damage). I couldn't prove this but Club Marine paid over $3000 to fix the motor, no questions asked.

I realise they cost a bit more but after that incident I continue to insure with them - and I like the mag!

[bugman]

I was unlucky enough to make an insurance claim last year after the loss of my boat.

The one thing I would tell everyone is to look at what extras can be covered if your boat is lost. Make sure you have a list of items such as electronics - storm covers - compass - auxillary - bilge pumps - epirbs- flares - anything at all. If it's written down you can claim on it. If it isn't then it's your word against their's and it's their money.

Also look at the fine print for the maximum you can claim for fishing tackle and or diving equipment. I suffered a rude shock when I was told that I could claim only $500 maximum for both diving and fishing gear. That's one rod and reel and a set of fins and mask.

There's also the possibility that the insurer may question the value at which your boat was insured. Mine had an agreed amount. When it came to the claim the insurer said the boat was over-valued despite the fact that had quite hapilly taken my premiums for the past 5 years at that agreed price.

Anyway I think it may have a lot to do with the personal assessor that the insurance company arranges to work on your claim. If you get a good one you're lucky - if not, expect a shit fight.

Bugman

[whiteman]

Used to use NRMA in Sydney. Now with Suncorp. Both well under Club Marine prices. No claims as yet.

[neptune]

If you never have to claim, the cheapest one is always the best. :P

[charleville]

I have just done a comparison of policy against policy and these seem to be the major diffferences...

Excess; RACQ $200; Club Marine $100

Tool cover: Club covers tools kept on board for emergency use on boat. RACQ makes no mention of such.

Personal Property: RACQ $300 but not money, watches, jewellery, computers, credit cards, etc; Club Marine - fishing gear to $500, personal effects to $200 each item up to max of $1000 on all claims but not tools of trade, mobile phones, portable radios, cameras.

RACQ makes mention of things like GPS, two way radio and depth sounders if "built in". I guess that my portable GPS that sits in a cradle on the boat with a cigarette lighter power cable is not covered.

Personal Injury (to the insured not third parties who are covered to $10M under both policies) RACQ nil; Club marine $20 000.

Both policies have heaps of like conditions such as deducting an amount for wear, tear and depreciation and neither will pay claims on gear simply dropped overboard.

Not sure if Club Marine will pay environmental damage anymore for a plastic bag clogging the water intake as "keen as mustard" mentioned above. Their policy refers to motor damage resulting from a seizure or overheating only if caused by an accident.

The difference in the cost of cover for me on a $24 000 boat is $160 per year so that means that whilst the differences on things like the excess or personal property loss can be made up in two or three years of no claims, some personal value judgements need to be made as to whether you need the $20 000 personal injury cover and the value of the magazine - the latter can be cancelled off the policy to save the $27 anyway.


My personal circumstances don't make the $20k personal cover very interesting and there seem to be so many ifs and buts in the policies around personal items, I think that $160 per year is better in my pocket than someone elses so RACQ may be the one for me. It is really the major loss of the boat that I would consider insuring.