rib insurance

fraztiree · 24 March 2009, 10:56

hi just wondered who was the best insurance company to use for my rib . i see a lot on google but not sure if there was some to stay clear to expensive etc. i wont be taking paying passengers or anything like that any suggestions cheers
fraz

jambo · 24 March 2009, 12:59

Fraz, welcome.
As you can see I do most of my ribbing from Tayvallich on loch sween where I have a swing mooring. I have used euromarine and am satisfied with the cover and costs. Suggest you give them a chance to quote the other is porthcawl insurance. www.euromarine-ltd.com and www.porthcawl-insurance.co.uk.
Hope this helps.
Have a good season.
J

greenkeg · 24 March 2009, 13:14

Quote:

Originally Posted by jambo

Fraz, welcome.
As you can see I do most of my ribbing from Tayvallich on loch sween where I have a swing mooring. I have used euromarine and am satisfied with the cover and costs. Suggest you give them a chance to quote the other is porthcawl insurance. www.euromarine-ltd.com and www.porthcawl-insurance.co.uk.
Hope this helps.
Have a good season.
J

as above but i use pothcawl they are worth a quote (ask for steve you wil find him of great help) best wishes tony

Black · 24 March 2009, 15:38

I have used Noble for all RIB's and boats I've had over the years, never had a problem with them paying out.

- Fraztiree - did you pick up that RIB from Monty Halls adventure?

Black

willfinch36 · 24 March 2009, 17:07

Im with Noble Marine

fraztiree · 24 March 2009, 20:18

thanks guys cheers , yea bought it from a guy up that way cant wait to try it out never had a rib b4 only fishing boats with top speed of 17 knots

codprawn · 25 March 2009, 04:19

Whilst on the subject of insurance how do they work out the value of a replacement outboard?

Mine was quoted from some Blue Book or something. The figure mentioned was about £2000 which is crazy. A much older Suzuki DT225 sold on Ebay for about £5,000.

DJL · 25 March 2009, 16:05

My EIS policy through Porthcawl is insured value - no need to worry about valuations.

codprawn · 25 March 2009, 16:10

Quote:

Originally Posted by DJL

My EIS policy through Porthcawl is insured value - no need to worry about valuations.

So is mine - but that is for a total loss - unless they have changed you will have a nasty shock when you ask about an engine theft which is probably more common.

PeterM · 25 March 2009, 16:14

Quote:

Originally Posted by DJL

My EIS policy through Porthcawl is insured value - no need to worry about valuations.

I'd be checking this very very carefully - if you do have an agreed value policy its like hens teeth for a 'normal' boat . Even for a total loss claim I would expect you to be paying big money , or driving something like HMS victory for any insurer to accept the risk!

I could be wrong - but I was in broking fro several years and never came across any such policy for a normal boat.

If you have can you share the details of who sold it you - we can all get one !

Just looked the EIS marine proposal form (Its a yacht & classic boat prop) . It asks for current market value , not new replacement cost - you could put new value on the form - but its a waste of time - you'll just pay more for the same cover as you would only ever get ' current market value' back ( maximum ) . cant see polciy wording to check for sure . I'd be stunned - but very happy to be proved wrong

PeterM · 25 March 2009, 16:22

Even the prop contains :

HULL & MACHINERY
This section should include the hull, engines, machinery, equipment, spars, sails and rigging such as would normally be sold with the vessel if she changed hands. If the value to be insured is greater than the price paid, a valuation report will be required to justify the difference. Note some policies may be subject to an ‘Average’ clause and it is essential your vessel is not under insured.

So suggesting cover is not agreed value ?