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Insurance for long haul short handed races.

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Is anyone else out there struggling to get racing cover for 2 handed sailing?

 

As soon as I mention RNI they run a mile....

 

They also have a max distance of a 200 nm race and anything over that they run a mile as well....!

 

Another new thing is 1/3 replacement cost excess on spars rigging and sails and also on renewal premium has gone up $400?

 

Is it just me?

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This has been a problem for as long as I can remember. Whether Racing or Cruising, gaining Insurance for further than 200Nm is near impossible. I guess there are not many Sailors in the Insurance Underwriting Industry. The Underwriters are whom set the rules. Only an independent Insurance company is ever going to entertain the idea and the difficulty is in finding one. There are not many left in the World if any.
The same issue applies to Ferro Boats. Near impossible to get insurance for and because you have to have insurance to enter a Marina, it has pretty much wrecked the market for FC. I get so many people looking at buying one and they ask on the FC Forum about Insurance and that ends it all for them.

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Currently with them but they have the 1/3 replacement cost on spars, rigging and sails for the excess.

 

This is effectively the same for club racing with our policy. Our premium went up 'uncomfortably' last year, so we got some quotes and I diligently worked through the policies...

Note- it is about as useful as tits on a bull assessing insurance quotes without reading all the fine print in the policy - 'full cover' hardly actually means 'full cover'...

 

Short story was, under the exclusions or in the fine print, the rig and sails etc weren't covered, or had such a high depreciation rate they were effectively not covered anyway.

After a lot of work getting quotes and reading policies we stayed with the same insurer.

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Some of you may not have seen Shansons post down in the FC forum. He is now in CHCH and has been trying to get insurance for his boat down there. This is a reply from one he tried.

"I've just gotten off the phone to FMG, according to the nice lady they won't insure anyone in Christchurch due to an issue with their re-insurance"

I thought OK so I can kind of understand companies being gun shy with Homes in CHCH, but a Boat?

We dropped our contents insurance last year. Just could not see the point when compared against what we have. We don't have much and if something like a fire happened, then we would wander off to the Sally Army store or any one of the other many fund raising stores around and get what we need to get started again. Insurance is getting stupid expensive and it seems that whenever someone tries to claim, there is always some kind of wiggle out for these insurance companies.
I can imagine many more are going to do similar as us soon. Apparently Insurance is about to take a major hike up for many that these companies deem to be in "high risk" places. I have recently heard one story of someone in Fendalton CHCH getting a bill for $17K and apparently they are not on their own. Who the hell has 17K to pay for insurance?

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Done a claim on car insurance lately??

 

The first question was,When was it last serviced??really its just a broken windscreen and yes been through the fine print no mention of service.

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