Insurance

[IanS]

Strangely, I couldn't find a previous thread so I made a new one.

As some of you may know, my boat is on a swing mooring. My current insurer, Topsail, told me I need a survey. This happened with my last insurer before Topsail. I can't afford a survey just for insurance.

Can anyone recommend an insurer that does not require a survey?

Ozzie, as you have a mooring, who do you insure with (I think we are the only ones on a mooring)?

Thanks in advance,
Ian

[Ozzie]

Anchorage Ian, but they require a survey also from next year. Have to check with my mooring guy I think he does surveys also . I think, but have not researched, that a survey for insurance purposes us not too much more onerous than a car rego inspection but I could be wrong, very wrong. Given an investigator, hull speed 5 knots in enclosed waters is considerably safer than my car travelling at 110 kmh, 2 meters from another vehicle doing the same speed in the opposite direction one would think so but “marine “ is often a rhyme with “ extreme” so we’ll see how it goes. Ian, you may try just getting 3rd Party although Anchorage does not do that it must be comprehensive.

This is like the dropping of all moored boats over 30 years old by the major insurance companies a decade ago . It’s why I switched to Anchorage. Combined with many marinas not allowing crews to refurbish their own boats anymore is leading me to believe yachts of any size will become only available to the wealthy.

Insurance companies are the kings of the world. As I’ve mentioned before. Does not matter if you believe in climate change or not or who or what is causing it. Insurance companies will dictate how it affects the average person. Our private health insurance this year is “ridiculous” on stilts. Even getting old is expensive. Rant over

[Geoff]

I have both mine insured by NRMA. Done over the phone, no proof of anything needed. I am not a member as I live in Queensland. And RACQ won't insure them, so there you go.

But being moored may be an issue, I don't know.

[Ozzie]

It struck me today where I’d read another rant on insurance. Current issue of Afloat magazine. It’s online and the section you want is page two of Jill Knights story about long passages. Seems insurance companies are taking the fun out of solo sailing on that as well

https://flipbook.afloat.com.au/afloat-j ... .html?p=42.

Cant copy text but here’s a screen grab . Follow link for whole article.

[IanS]

Thanks Ozzie and Geoff,

I suspect that with the survey comes the need for the standing rigging to be less than 10 years old, and so it goes...

I'll let you know what NRMA have to say for themselves.

Topsail requires survey
Club Marine we are unable to offer an insurance policy due to: How the boat is stored
Youi requires survey
Pantaenuis requires survey
Anchorage requires survey (Ozzie)
New Wave online quote requested 21-02-2025 - requires app report wth images
NRMA Call us on 132 132.
Nautilus Marine online quote requested 21-02-2025 ref 1314505.
GIO TBC
Coast Insurance TBC
CGU TBC

[Ozzie]

One one that just requested photos and an application sounds promising. Anchorage requested photos once at the start of the policy. Did anyone indicate a 3rd Party only option ???

[Ozzie]

I note Ian this thread has clocked up 2.5K views in less than a month.

An interesting observation on Insurance and climate change. I was listening to an academic from MIT talking on radio regarding the impending death of music festivals. If say, there is a predicted heat wave and organisers think they might not put 10k people in a paddock in 100 degree heat (old person) and decide to cancel, the insurance company will refuse to pay UNLESS the government declare a climate event !

I gather that the polies are reluctant to do this as young people then say the government is telling us what to do and then vote for someone else come you know when. And this could apply to either side. So insurance as I said will ultimately rule the roost when it comes to everything from boats to music festivals.

And the music goes round and round and comes out……

[IanS]

Hi Ozzie,

Yes insurance is getting difficult, the premium for my parent's house in Brisbane went up to $10k because the flood map shows a corner of the property 10m below the house floor level got flooded in 1974. The house has been there since 1969 and never flooded, but it's on a steep block above a creek. Luckily we found another insurer who saw sense - but for how long??

And, yes I switched my last boat policy to third-party only, but they still want a survey this time around.

Here's where I got to. The last option is New Wave Marine, but I have to get around to installing the app and taking photos.

New Wave Marine requires app report with images
Topsail requires survey
Club Marine unable to offer an insurance policy due to: How the boat is stored
Youi requires survey
NRMA requires survey
Nautilus Marine requires survey
GIO no cover for moored boats
Coast Insurance requires survey
CGU is NRMA
Pantaenuis requires survey
Anchorage requires survey

[Geoff]

I wonder how I snuck through with not needing any survey or verification with NRMA? Maybe they have just implemented, and I will have to comply next renewal.

[IanS]

Swing mooring...