Small inflatable boat insurance

CJS · 07 April 2010, 16:45

Its time to get the SIB out from winter hibernation......

I purchased my Honwave + 20HP new last year and used it last summer but never bothered with insurance.

I feel that I should do something insurance wise this year. I got a quote of £123 per year - fully comprehensive/ break down recovery/ liability - does this sound reasonable?

Does anyone have any recommendations?

Black · 08 April 2010, 11:32

Thats is exactly what I am paying for my boat with Noble.

treerat · 09 April 2010, 20:24

I move dto insure my boat .com - around £80, cover is ideal for me

fred bolton · 09 April 2010, 21:25

£40 craftinsure.com

MikeP · 11 April 2010, 21:44

We went with Noble as well - turned out at £55.50 for us for the year, but that's with a smaller outboard (4HP) which may be a factor.

Of course, the only true test of any insurance is if you have to claim on it; much like motor insurance, there is an element of 'you have to have it' which makes it possible for some insurers to adopt the daylight robbery approach.

With house and motor insurance, I've found almost universally that they do not pay out in circumstances which would seem quite reasonable, so my approach to insurance now is to get the minimum quote that will give the necessary documentation to satisfy the interested authorities. I would love to hear other folks tell their happy stories of successful insurance claims, but this has never been my experience.

astra · 11 April 2010, 22:06

craft insure are my choice,I think they are very good.

cyberstoker · 12 April 2010, 16:17

My house insurance has a boat section which covers my sailing dinghy and SIB.

fred bolton · 12 April 2010, 18:55

Quote:

Originally Posted by cyberstoker

My house insurance has a boat section which covers my sailing dinghy and SIB.

Who are they?

PeterM · 12 April 2010, 20:00

Quote:

Originally Posted by MikeP

We went with Noble as well - turned out at £55.50 for us for the year, but that's with a smaller outboard (4HP) which may be a factor.

Of course, the only true test of any insurance is if you have to claim on it; much like motor insurance, there is an element of 'you have to have it' which makes it possible for some insurers to adopt the daylight robbery approach.

With house and motor insurance, I've found almost universally that they do not pay out in circumstances which would seem quite reasonable, so my approach to insurance now is to get the minimum quote that will give the necessary documentation to satisfy the interested authorities. I would love to hear other folks tell their happy stories of successful insurance claims, but this has never been my experience.

An interesting view, but generally if you have done everything insurers ask you to do then you wont have a problem. Alas with the 'minimum' type approach no you wont actually be covered for much so wont get much paid.

I am happy to try and help/advise any Ribnet member if they get into a situation where they have to claim. If it make people feel any better I am dealing with a client who pays upwards of £250k a year in premium and thier insurer is not wanting to pay a £1m claim as they did not stick to the policy conditions- enter barristers and solicitors quoting caselaw ...........happens to everyone sometimes !

PeterM · 12 April 2010, 20:02

Quote:

Originally Posted by fred bolton

Who are they?

Some 'high end' type policies throw this in - generally you will be paying a bit more for a decent service / cover to get this. I think some Zurich/ Home & legacy covers usually mainly available through brokers.

Home & motor isn't my area much any more.........

jake 4589 · 15 April 2010, 18:54

I also have a Honwave 3.8m I.E.. with 15 HP. Insured with Navigators and General £69 That covers the boat, Trailer Equipment the lot (£3,000,000 liability)

saltyseadog · 08 June 2011, 19:12

sorry to revive an old thread but I'm looking into insurance for my SIB...
did a quote online for a 'motor boat' worth £2000 and it came in at £46.20
did the same quote but called it a RIB to see what difference it makes and it came back at £192!!

I think I can guess the answer but what do you guys insure your SIBs as?
why is there such a difference in the quotes!?
will an insurer class my SIB as a RIB if I try and make a claim?

edit - I think it's the top speed isn't it...

Max... · 08 June 2011, 21:48

I suspect I may have been on the same site - wasn't Insurance-4-boats was it?

A quote in the 'Rib' section with the same value boat/criteria etc is twice the cost of a 'small craft'. Biased? Never!

I want to insure a small SIB purely for third party 'public liability' - I don't need or want to insure it against theft etc - it will only be worth £1600 or so complete with engine - never trailered, bagged away in a locked garage etc.

Where to go?

saltyseadog · 08 June 2011, 22:13

I was looking at small motor boat on craftinsure

TIMO · 08 June 2011, 22:25

My sib was £192 with craftinsure,, i asked why so much and they said because its 40 hoss OB it dont come into the small boat category

maybe they have it down as a rib? ,, must chect tomorrow

Fenlander · 08 June 2011, 23:24

I've used Craftinsure online for the past 3yrs with no problems. £42 a policy if you keep the speed capability under 23kts. Guess your outfit would easily exceed that Timo so they have to put you in the RIB or speedboat class at greater cost.

By chance I was onto their guy (Rod Daniel) this morning about a possible change I needed to make... always found the guy helpful.

TIMO · 08 June 2011, 23:28

Quote:

Originally Posted by Fenlander

I've used Craftinsure online for the past 3yrs with no problems. £42 a policy if you keep the speed capability under 23kts. Guess your outfit would easily exceed that Timo so they have to put you in the RIB or speedboat class at greater cost.

By chance I was onto their guy (Rod Daniel) this morning about a possible change I needed to make... always found the guy helpful.

yeah mate ,, i just checked my policy online,, and it is insured as a rib , and i imagine 40 hoss will push to a bit more than 23kts so thats the difference

thing is is insured for towing too even though it never will be

but that comes as standard and cant be discounted

Nick Hearne · 09 June 2011, 12:05

My Achilles round tail inflatable 7', Bombard Aerotec 3.8 with 15hp & SR4 with 50hp at a value of £6200 just cost me under £200 with Towergate Mardon I do have 5 years no claims!
Nick

ferryden · 09 June 2011, 21:10

Who out there has European wide policy cover?
(or is this standard?)

I need my (3rd party) to cover Spain/Ballearics

Thanks !
Ferryden

cyberstoker · 09 June 2011, 22:51

I was looking at at Westfield. They claim a unique feature is that their 3rd party covers members of your own party so if you injure one of your own group they can claim, whereas (they say) most insurers exclude people in your group using the boat from cover.

Cost for a 3.8 SIB with 20HP was a bit over £200, which is their minimum, but they did say they'd include my 2.5m sib with 4hp as well.

However, the £50 policies people have mentioned seem a good deal!