SIB Insurance

James14 · 31 March 2018, 22:13

WOW, just received an insurance quote for my F-rib 360 and 20hp Tohatsu. £159 third party. That's nearly as much as my previous 4.75 meter rib with a 60hp O/B.

Fenlander · 31 March 2018, 22:34

My outfit has probably a similar replacement value and same engine size... premium about £60 from Craftinsure. But... unlike mine yours will be able to easily exceed the speed allowed in a Craftinsure small craft motor boat policy.

Is this what's made it so expensive for you??

James14 · 31 March 2018, 23:02

Possibly. I've put The speed down as 25mph which has reduced the policy. I'm not sure how they work it out but I'll usually be out with my partner two children and kit so I doubt it'll go faster than that?

Fenlander · 31 March 2018, 23:05

So are you with Craftinsure?

James14 · 31 March 2018, 23:18

Yes mate they were the cheapest by a long way.

Fenlander · 31 March 2018, 23:46

Yep I've found that for the past 10yrs or so. I'm going to get in touch soon though as this year's two week summer hols will be the first time the SIB will be on a tidal mooring when not in use... and that's excluded from the standard policy I've had for years.

James14 · 31 March 2018, 23:59

I'd love to have my boat on a mooring, swinging or pontoon but fees are just too expensive around the Hamble.

beamishken · 01 April 2018, 00:20

Quote:

Originally Posted by Fenlander

Yep I've found that for the past 10yrs or so. I'm going to get in touch soon though as this year's two week summer hols will be the first time the SIB will be on a tidal mooring when not in use... and that's excluded from the standard policy I've had for years.

I insure our hard boat with craftinsure and it lives on a mooring all summer and the only stipulation is the excess is doubled for damage while on the mooring
Thats on a 90k boat

Fenlander · 01 April 2018, 08:24

>>> insure our hard boat with craftinsure and it lives on a mooring all summer

Yes what they allow changes with class of boat. The basic smallcraft motor boat class for inflatables (under 23kts I think) that will cover a £1500 outfit for £40 or so totally excludes tidal mooring.

I've just checked and with the value of my outfit this policy is now up to £66 for me. I could up my cover into RIB class which allows tidal mooring for up to 24hrs periods at a time but that's £90 extra.

So I'll phone and see if they will add the specific two weeks of our holiday to our standard policy for a one off payment of a more reasonable figure.

James14 · 01 April 2018, 08:26

It's the cost of the mooring fees down South. A friend of mine has a 6.5 meter rib and the mooring fees are £435 per meter per month. ��

When living in Wales the cost of the mooring wasn't such a big deal and although that was 15 years ago it was only £650 per year for a 5 meter rib.

Pity the extra cost of being on the Hamble doesn't bring nice weather ��. :-)

James14 · 01 April 2018, 08:32

Let me know how you get on Fenlander. I'll probably look at doing the same if it works out for you? I'm planning to take a trip over to the IOW later this year and stay over night. I definitely want piece of mind that should my RIB get stolen I'm covered.

Fenlander · 01 April 2018, 08:52

>>>It's the cost of the mooring fees down South.#

The mooring is included with this Cornwall holiday home but I still have to pay around £80 Harbour Dues to use it for the two weeks!

>>> I definitely want piece of mind that should my RIB get stolen I'm covered.

For over a decade of smallcraft use we've always taken a holiday cottage with garden storage for our SIB immediately adj a slip so we take out each night. I have been fanatical about not leaving it unattended for any more than quick lunch stops.

But this year I'm relaxing... obviously I'll be gutted if it's taken but I'm resigned to not being upset... I'll just make sure all the insurance requirements are met.

It will save so much faff not having to launch and retrieve a couple of times a day.... we'll see how the arrangement suits.

James14 · 01 April 2018, 09:02

Quote:

Originally Posted by Fenlander

>>>It's the cost of the mooring fees down South.#

The mooring is included with this holiday home but I still have to pay around £80 Harbour Dues to use it for the two weeks!

Thanks not too bad. It's worth paying that for the enjoyment being out on the water.

Fenlander · 01 April 2018, 09:10

Totally agree. Add the cottage cost to food, eating out, travel etc over two weeks and that £80 to have the boat just outside the front room ready on the water is peanuts really.

willk · 01 April 2018, 09:16

Quote:

Originally Posted by James14

WOW, just received an insurance quote for my F-rib 360 and 20hp Tohatsu. £159 third party. That's nearly as much as my previous 4.75 meter rib with a 60hp O/B.

Your thread title says SIB insurance - but of course it's RIB insurance and from a risk perspective, I'd say there's not much difference between the two vessels - although the F-RIB can be stolen and concealed more easily. Are you able to insure third party with Craftinsure?

In any case, they will start a premium off at a figure that makes it worth their while rolling out of bed - to cover the fixed costs of dealing with you. After that they tack on their risk and then a bit of profit. Compared to you I have another zero on my premium, so enjoy the benefits of an F-RIB!

James14 · 01 April 2018, 09:17

I lived just outside Helston for years and used to launch from Mylor Falmouth. I can really recommend the area for the wildlife, cave exploring and little coves you can only get to by boat.

James14 · 01 April 2018, 09:28

Yes Willk, I insured my F-Rib third party. I mainly wanted my insurance to cover theft from home and injury to persons on the water. The amount of time I'll leave the boat on the water unattended is minimal. Having said that I'll probably upgrade later on in the year.

beamishken · 01 April 2018, 09:46

Quote:

Originally Posted by Fenlander

>>> insure our hard boat with craftinsure and it lives on a mooring all summer

Yes what they allow changes with class of boat. The basic smallcraft motor boat class for inflatables (under 23kts I think) that will cover a £1500 outfit for £40 or so totally excludes tidal mooring.

I've just checked and with the value of my outfit this policy is now up to £66 for me. I could up my cover into RIB class which allows tidal mooring for up to 24hrs periods at a time but that's £90 extra.

So I'll phone and see if they will add the specific two weeks of our holiday to our standard policy for a one off payment of a more reasonable figure.

They are easy to talk to on the phone because you get to a real person who can make decisions. Id imagine a quick phone call and you will get your holiday cover sorted at a sensible cost.
My hard boat insurance only covered marina storage until I contacted them
We have 4 boats insured with them in the family and had a few claims that they handled perfectly

Fenlander · 16 July 2018, 11:44

Going to tag on this thread as the title fits...

Is anyone using other than Craftinsure for their SIB insurance... and if so do you know for sure if you have "unattended on tidal waters" cover?

Fenlander · 16 July 2018, 14:03

OK all resolved. Craftinsure have provided a year's policy with unattended tidal mooring allowed from 1st April to 31st October for £87 which is fine so I've taken that.