Narrowboat Insurance

[ex-Celtic Star]

Hi, my first new post here, so please be gentle!  I've searched the Search function but I can't find any recent threads on boat insurance so I wondered if any of you kind people could share who you use, experience (good or bad), and how you choose your insurance cover - just by cost, or are there big differences in cover available?

Our soon-to-be our boat has been surveyed and we should be the proud owners in a week or so so we want to arrange insurance.  OH found boat cover through compare-boat-insurance comparison sites, and also SAGA, but we're interested in other boat insurers as well. The comparison site had prices from £191 up, for a 58' 2005 narrowboat.

We'd appreciate any advice you'd share.

Many thanks

Edited May 18, 2017 by ex-Celtic Star
updated information

[WotEver]

This thread should help:

 

[David Mack]

4 minutes ago, WotEver said:

This thread should help:

 

If things haven't changed in 10 years.

[WotEver]

Oh arr

[Wanderer Vagabond]

I think the price comparison sites are probably as good a place as any to start. As with all insurance companies, the big question is how good are they when it comes to claims and, to be honest, a lot of us have little or no experience of that. I originally insured with Towergate but as the premiums climbed inexorably I then took out a policy with GJW, with a considerable saving. Slightly annoyingly, and again like most insurers, when I told Towergate that I was changing insurers they then came up with a better quote (although still not as good as the GJW quote). Loyalty these days carries no reward.

[Dave Payne]

Craft insure for me, into my second year, gone down this year, 57ft with extras such as cover for travelling to and from boat for my personal items, £120/year.

Never needed to claim so no idea what they are like at that end of things, but setting up and renewing was all done online and simple.

[cuthound]

My insurance is due to to expire next month.

I am currently  with Navigators & General, but have never had to claim.

Does anyone have experience of an insurance company that treats it client fairly in the event of a claim?

I would rather pay more for such a company than save a few pounds on premiums and find that I am out of pocket by thousands in the event of a major claim.

[Machpoint005]

1 hour ago, Dave Payne said:

Craft insure for me, into my second year, gone down this year, 57ft with extras such as cover for travelling to and from boat for my personal items, £120/year.

Never needed to claim so no idea what they are like at that end of things, but setting up and renewing was all done online and simple.

Craftinsure for me too -- been with them nine years and the premium has hardly changed at all (apart from IPT of course). £134 last year for a 48ft, 1995 boat, insured value (whatever that really means) £40k. Renewal is totally hassle free even though it happens over the Christmas/New Year break.

[Billy Boy]

I'm with HN Johnson, there not to bad. Most will only pay out the minimum they have to,, the same as all insurance providers. 

[MartinC]

Factors to take into account for comparison:

Policy wording (by no means standard!). Exclusions vary, are there any which affect your requirements?

Claims reputation.

Service standards, including ease of using web site.

Underwriting requirements (e.g. age of boat/survey)

Then you look at premium level including provision and cost of paying monthly.

Navigators & General, who have a significant portion of the market, is a trading name of Zurich. You will come across them in several guises with different premiums because it depends, amonst other things, on who is acting as agent or broker and the profitability of the "book" of business being written through that broker or agent, the underwriting criteria and policy wording they have negotiated and the "cut" they are taking.

 

[Gardner]

The cheapest might not be the best. Been with GJW for years & the one claim I had some years ago was dealt with quickly with no fuss, so I stick with what I know.

[GUMPY]

Another plus for GJW have tried elsewhere but they always compare favorably.

Have two boats with them and have had for the last few years.

 

[David Mack]

4 hours ago, MartinC said:

Navigators & General, who have a significant portion of the market, is a trading name of Zurich. You will come across them in several guises with different premiums because it depends, amonst other things, on who is acting as agent or broker and the profitability of the "book" of business being written through that broker or agent, the underwriting criteria and policy wording they have negotiated and the "cut" they are taking.

 

N&G operate the IWA member insurance scheme. They won't insure shared ownership boats. When I asked why they wouldn't say.

So who do shared ownership boats use?

[Neil Smith]

I went with insure 4 boats, £90,000 fully comp cover for £205.

Neil

[Wanderer Vagabond]

I think what would probably be a better question regarding narrow-boat insurance would be to address specifically to those who have made an insurance claim asking what their experience was. You will probably get fewer answers but they will have more value than what we (myself included) have said about those that we insure with. All Insurance companies are good, until the claim goes in, that sorts the men from the boys

[ditchcrawler]

33 minutes ago, Wanderer Vagabond said:

I think what would probably be a better question regarding narrow-boat insurance would be to address specifically to those who have made an insurance claim asking what their experience was. You will probably get fewer answers but they will have more value than what we (myself included) have said about those that we insure with. All Insurance companies are good, until the claim goes in, that sorts the men from the boys

Spot on, Greenie of the day.

[br4k3s]

Saga boat insurance for me, been with them for 10+ years had one large claim settled very quickly after providing invoice for repairs, boatyard paid within 5 days of receipt of invoice  premiums raised by 20% as loss of no claims discount, premium on way down now 2 years after claim.

 

 

 

[Scholar Gypsy]

I've been with Craftinsure for several years, very pleased with them.

They are also good with extras eg when we crossed the Wash, with some sensible/advice from the underwriters (unlike the insurers of the other boats we went with, who said the Wash was an inland tidal connecting waterway and imposed no conditions at all!)

[ex-Celtic Star]

Many thanks to all who have responded with your experience, whether you've claimed or not.  We've now got several quotes, and a lot of small print to read over the next few days.  Thanks again.

[The Grumpy Triker]

21 hours ago, ex-Celtic Star said:

Many thanks to all who have responded with your experience, whether you've claimed or not.  We've now got several quotes, and a lot of small print to read over the next few days.  Thanks again.

Can you post your learnings please?....am about to start hunting myself so as a newbie it is all good to hear

[ex-Celtic Star]

2 hours ago, The Grumpy Triker said:

Can you post your learnings please?....am about to start hunting myself so as a newbie it is all good to hear

Yes, give us a couple of days to work through the quotes, and I'll share our findings and thinking.

[blackrose]

I've just received this year's quotation for my boat from Craftinsure which is now £221.10 - down from £269.37 last year, so I'm happy about that. I have been with them for 11 or 12 years and never made a claim.

This premium is based on a value of £90K, £2,700 personal effects, £5M third party liability, and a £300 excess on any claim.

[blackrose]

On 2017-5-20 at 06:22, Scholar Gypsy said:

I've been with Craftinsure for several years, very pleased with them.

They are also good with extras eg when we crossed the Wash, with some sensible/advice from the underwriters (unlike the insurers of the other boats we went with, who said the Wash was an inland tidal connecting waterway and imposed no conditions at all!)

That's interesting, because when I crossed the Bristol Channel with a pilot they charged me extra - I forget how much it was. I wonder what the difference is? I did the bit from Bristol to Portishead without a pilot, but I'm sure that wasn't why they asked for the extra premium.

[The Grumpy Triker]

9 hours ago, blackrose said:

I've just received this year's quotation for my boat from Craftinsure which is now £221.10 - down from £269.37 last year, so I'm happy about that. I have been with them for 11 or 12 years and never made a claim.

This premium is based on a value of £90K, £2,700 personal effects, £5M third party liability, and a £300 excess on any claim.

Thanks for this....5 million 3rd Party!!....are you in those big rich marinas!?

....or is that standard for legal and in case the George Michael brings his Gin Palace up the river in the early hours ...oh hang on sorry, ermm someone who is alive and well to do 

Do you have a limit on value of any one specific item within the 2,700?

[cereal tiller]

1 minute ago, The Grumpy Triker said:

Thanks for this....5 million 3rd Party!!....are you in those big rich marinas!?

....or is that standard for legal and in case the George Michael brings his Gin Palace up the river in the early hours ...oh hang on sorry, ermm someone who is alive and well to do 

Do you have a limit on value of any one specific item within the 2,700?

The late George Michael had a Narrowboat in the Pool at the front of his Goring Home.was moved/sold a year or two ago.