5 minutes ago, Arthur Marshall said:
I just regard insurance as basically a swindle, so ignore it as much as possible. All my houses have been insured which has been free money for the companies. Most of my cars were 3rd party, and would be now except it's virtually the same as fully comp. The boat has always been 3rd party + recovery if it sinks.
I've asked before on here - how many people have ever made a claim on their insurance? And got back more than they would have saved on premiums otherwise? I'd set up a survey, but apathy has struck again.
We made a claim in early 2020 when water entered the engine via the exhaust and were extremely happy with the pay out.
Because we now had a new engine in a 2002 boat and quite a bit of other work done we wanted to increase our insured value which our insurance company required a survey valuation. We went back to them with a written valuation from our local broker, which they accepted. It is now insured for more than 50% above what we paid for it in 2015.