I've just received my boat insurance renewal from Suncorp and I am not happy with the policy because it only allows for market value and does not cover other conditions such as ingestion of plastic bags into the motor. Is there better companies to deal with who offer better cover for the average tinnies at reasonable prices?
This has proberly been covered before but I will be interested to what ppl currently think re there insurers.
John
Hi Ugly, I insure with NRMA. Good rates. I was unfortunate enough to have to make a claim for arson. Very easy process, paid no problems. I have set the price instead of market value for two boats with them now. In fact I think they only insure for agreed value and not market value. Got inclusions such as sounder/GPS and other accessories covered as well. Got multi policy discounts as I insure car, house and contents with them also. Regards Adam
I'm with club marine.. So far two claims amounting to about $5,000. No troubles, they've been helpful.
Matt.
I'm with RACQ, mostly because they were the cheapest out if the quotes I got.
I'm with Club Marine. My Broker recommended them for two reasons.
1/ They were cheaper
2/ (and FAR FAR more important IMO) they pay claims without dramas.
No point getting cheap insurance if they don't pay claims, eh?
Cheers,
Tim
Carbon Really Ain't Pollution.
I am with RACQ - because they pay claims without dramas (have always been very good in terms of not pulling technical clauses on genuine claims) - I have also done work for them and found them good to deal with at that level also.
They are also very competitive.
Cheers
Boat: Seafarer Vagabond
Live: Great South East....love Moreton Bay fishing
I have been with both NRMA & Club Marine.
Only had one claim with NRMA recently and no drama at all.
Club Marine online for me, the price was too attractive and ive heard only good oil about them. I had Suncorp but the last policy renewal they sent me was way too rich I thought.
Good luck.
I agree with TimiBoy.
I am with Club Marine for the second time now, rates are good, policy covers everything and tthey have a good rep.
Cheers: Dave
My broker put me with Trident.
They (the broker) had 'apparently' been long supporters of Club Marine, but 'apparently' Club Marine no longer has a true 'Agreed value' policy (ie, in the event of total loss, they will only pay out market value, regardless of what the boat was insured for).
I trust my broker, as she's a good friend, so I never actually confirmed what she said about Club Marine.
Edit: I stand corrected. I just downloaded the Club Marine policy documentation, and it does appear that they have a true 'Agreed Value' policy, as well as a 'Market Value' policy.... so ignore my prior comments.
we have everything we own insured with racq and have done for years. but just lately i think i will change my boat over to club marine. we just upgraded our boat and so pretty much just rolled over the old policy and changed the details over from our old boat. i swear that by the questions they asked, and the difficulties i encountered, they have never insured a boat before. the new boat is currently in a rack and will be there until the trailer is finished, at first they deemed the rack was a public place (even though it's a restricted area) and had to go through a number of managers and finally the underwriter themselves to say that this was acceptable to them. they then added up the value of the electronics and safety gear and ensured it was listed as being insured (this seemed good to me) they then refused to insure the inflateable tender, it's outboard, a stainless gas bottle or a stainless bbq because they were not permanently attached to the boat and could be stolen, i told them that this was the reason i wanted insurance in the first place, in case some lowlife pinched my stuff. anyhow they refused and so all of this stuff is now locked up in the shed at home. i could have sworn that i was the first bloke who had ever insured a boat with them by the questions/conditions and that they really didn't know boats at all, needless to say i think i'll be looking a lot more closely at using a specialist marine insurer when this policy is up in a few weeks. i generally don't give a rat's about the cost, because all i want is good cover, and to be safe in the knowledge that provided i do everything right and something still goes pear shaped there's no questions asked and i get looked after. i can't say i got this feeling off them. for a car however, racq are unreal we've had 2 claims now in 20 years and they've looked after us brilliantly.
Essentially RACQ are trailerboat insurers - anything else makes them wary and they will not do inboards from memory either. They do insure a very large number of trailer boats and always understood my needs in terms of accessories. They are the underwriter as such (ie RACQ is the club and covers breakdowns and RACQ Insurance Pty Ltd is the company that actually insures your stuff and has very large reserves (it also like any insurance company in Australia has several re-insurance layers to provide them with protection but RACQ Insurance is the underwriter).
It is claim time where it all counts and you have been happy with them before matey, so ring them and ask for their Consumer Advocate manager and ask him to see if they will insure your extra stuff including the tender.
Cheers
Boat: Seafarer Vagabond
Live: Great South East....love Moreton Bay fishing
Thanks Paddles for your informative reply, I think I may now lean towards Club Marine as they sound to be a bit more understanding of boaties needs . They are a bit more expensive but you only get what you pay for in the long run.
what you're saying sounds about right scott, we've only ever owned basic trailer boats before this one and they seemed to know what was going on, but this one got me a bit worried about my level of cover.
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