Boat Insurance

[sclark3]

Hi guys and girls, i have a new boat on the way:headbang: any prefered insurers? I previously shared a boat with my father who got insurance through NRMA but im flying solo now and thinking Club Marine:ohhh yeah: any suggestions:1yikes:

[Dog Catcher]

Yeah Club Marine are P****s

I had to sue the bastards over a claim

Think prob with co'slike NRMA is that they have a limit as to how far you are allowed to travel out to sea from memory it's 20 nautical miles.

Only advice I can give you is ask the rellevant Q's from the insurer's B4 taking out a policy & read their conditions

[sclark3]

:beerchug: for that

[mulloway mayhem]

i couldnt say a bad thing about club marine.....i have been insured with them for over 3 yrs and when someone stole a few things out of my boat i didnt have a problem getting $6000 out of them...they were so helpful and didnt budge at paying me out......also a very big yacht ran into me while i was anchored and i lost the blokes details and club marine where very helpful finding the guy....

my vote is for club marine.......good luck with it all mate....:luck:

[sclark3]

:beerchug: i have only heard good things also, will give them a bell:ohhh yeah:

[shags]

Gday Folkes..

My boat is insured with NRMA & i swear by them..

I HAD a few troubles myself with Club Marine,,wouldnt recommend them to the inlaws to say the least..

Craig:beerchug:

[sclark3]

Ok guys sorry to be a pain but im :duel: with the idea of which insurere to run with...I just found out from my boat dealer that Yamaha do boat insurance if your boat has a Yamaha motor on it:nopity: i know its boring....But has anyone heard of this or uses them?:banghead:

[sclark3]

I found out, they are new to the mkt and a fair bit cheaper, here is some info if anyone else is looking:cool-smiley:
Yamaha Motor to launches world insurance first at Melbourne Boat Show - 07/09/2007 16:45:37
8 July 2007

The country’s leading outboard and PWC distributor Yamaha Motor Australia announces a new insurance product that is only available through its national dealer network. The new product called Yamaha Marine Insurance is being launched at this year's Melbourne and Sydney Boat Shows and is a first for the Australian and world insurance market.
Yamaha Motor’s GM Steven Cotterell says, “This is a world first for Yamaha and it means we can add the final piece of the jigsaw to provide a one-stop shop for marine product, services, finance and now insurance which will help us to continue to lead the market place.”

Yamaha Marine Insurance, the ultimate pleasure craft cover is designed for all boats with Yamaha marine products and including Waverunner. It is only available through authorised Yamaha dealers and Yamaha Finance Australia.

Yamaha Marine Insurance dealer benefits

Yamaha factory backed; Exclusive to Yamaha participating dealers; Only genuine Yamaha parts used for all repairs; Authorised Dealers Priority claims approval up to $2,000; Repair work referred to authorised participating Yamaha dealers; Gap cover available for a nominal extra fee including extras cover; $10 million legal liability cover on Waverunners; Full replacement of boat and Waverunner in first 12 months of registration; New for old on mechanical and electrical components of motors regardless of age; Encourages use of DataDot that provides the marine industry a much needed security data base; DataDot deters theft and increases the chances of recovery as it provides an audit trail for police and insurance companies; Insurance premium savings and tangible policy benefits passed on to clients.

Yamaha Marine Insurance owner benefits

Yamaha Marine Insurance is the ultimate in pleasure craft cover at very competitive premiums and it provides real “peace of mind” for owners. Only genuine Yamaha parts are used for repairs, dealers have priority claims approval up to $2,000 to get the customer back on the water sooner and there is nil theft excess when Data Dot DNA is applied to boat, outboard motor, trailer and PWC.

Factory badged insurance product; Pay by the month option; Gap cover available; Agreed value on Hull, motor, trailer and equipment and accessories; Lost keys cover up to $500; Death cover $30,000; Convenient YMI Membership ID card.

Yamaha Marine Insurance is administered by Nautilus Marine Insurance Agency (AFSL 227 186) and underwritten by The Hollard Company Pty Ltd (AFSL 241 436).

Yamaha Marine Insurance will be rolled out to all Yamaha Dealers around Australia throughout the months of July and August. Part of the roll out program will be comprehensive training of all sales staff in this exiting new product

[Dog Catcher]

That's been going on for yearsno different to say a Nissan dealer offering you car insurance on a new car purchase.

What they do is act as a broker to one of the major insurance Co's

[sclark3]

So would you go for it or not? Im new to the game:upside down hello:

[mulloway mayhem]

So would you go for it or not? Im new to the game:upside down hello:

i would say stick to what yo know....

[sclark3]

Fair point 40yrs in the game compared with 2 mnths:ohhh yeah:

[Dog Catcher]

So would you go for it or not? Im new to the game:upside down hello:

Not my decision to make !

But if you do go with the policy it will be with the insurance co & not Yamaha.

Most likely someone like Zurich Insurance @ a good guess

[sydfish]

I have been with club marine for 9 or 10 years and had 2 claims, they sorted it all ASAP, they specialise in boats, and therefore they understand the nature of boat stuff. Better I think than a company that specialises in cars.

[Dog Catcher]

I have been with club marine for 9 or 10 years and had 2 claims, they sorted it all ASAP, they specialise in boats, and therefore they understand the nature of boat stuff. Better I think than a company that specialises in cars.

You must've had minor claims

Club Marine DO NOT have their own accessors they contract private companies to do that & thats where the probs start with in my books.

The Club Marine office will pay out what is presented to them no probs about that but what the BIG prob with them is a release form must be signed by the insured before any money is released.

That may not sound that bad to some BUT if something has not been quoted for or missed in the claim then the insured has no futher claim against them.

To give you an example in my case Club Marine's wanker of a accessor took possesion of my boat had all the tradesmen strip the boat so as they could submit their quotes I'd had a ski trip booked & planned that week told him I would be out of the country for a few weeks.

Got told all would be finalised & work commenced by the time I got back that was the 2nd bit of bullsh*t he told me cause Club Marine will only pay the insured direct & it's up to him/her to chase up getting works done.

Well I was the one who initially spent 12 months putting the boat together & new very well what I paid out of the cheque book to fit the boat out & what this wanker accessor who didn't have a clue allowed for was no where near what it would take to get the boat on the water & I had no intentions of running around chasing up trademen to do work.

Shortfall in pay out was around $60 k so Club Marine told me to go get quotes to justify my claim now that was a bit on the impossible side considering everything was striped out of the boat & the motors were in a million pieces it got worse as well cause club marine then made sure no one in Botany Bay would give me quotes & being a 11 meter moored boat made it a bit hard to throw it on the back of the ute & look elsewhere for quotes.

Anyway it took me 3 years & alot of legal fee's in the court system but I eventually won the case worked out had they paid out my policy when they should've club marine could've saved themselves around $300 k.

Again I repeat myself read & understand what type of policy it is that you are buying

[sydfish]

OK I stand corrected. My claims were for a smashed prop and shaft, around 4k and for a min kota we smashed under a pier $1800. They paid in a matter of days for that, but the premium went up:maad::maad:

[sclark3]

What would you expect to pay for an Quote for new runabout valued at $80,000 with skiers coverage and $10,000,000 liability???? All new to me:cool-smiley:

[Dog Catcher]

Yeah they wanted to pay me out in a big hurry as well sydfish & thats where the probs started.

Had I accepted then I would've been out of pocket $60 k + & would've been really pee'd off.

All Insurance Co's are ar**holes when it comes to paying out & will do anything not to honour the policy.

Prob with to many peeps is they dont read the policy is that they dont read the policy to see what they are allowed to claim for.

In my case I took out an agreed value policy for $150 k & did so after getting the boat valued prior to taking out the policy bloody thing cost me a hell of alot more than that to put together but I knew I couldn't insure it for that amount.

A error in Club Marines office saw my policy changed from Agreed to market in the 2nd year with a new policy no issued which I did not authorise.

Fortunately I had the original policy in the filing cabinate along with the valuation cause what the ar**holes did was originally offer me $60 k cause they claimed I only had a market value policy that went up to $89 k after I kicked up a stink.

I still refused to accept & they told me I was free to get my own valuation, there was no point in doing that cause like I said they had stripped the boat & only the hull remained.

What I then did was contact the surveyer/valuer who did the original valuation & all he could do was to stand by his original valuation stated that if the boat had not been stripped & in the running order prior to sinking then the value wouldn't have dropped.

Along with that he also stated items such as outriggers, game chair etc etc etc were not on the boat when he did the original valuation I'd prob spent another $40 k since then.

I presesent the document to club marine & what they then did was contact the guy threatening him that they would black ban him from any club marine work in the future if he came to court & backed his valuation.

All this came out in court along with the then NSW state club marine manager admitting that they new all along that I had an agreed value policy thats when the magistrate spat the dummy @ them & nearly ended proceedings on the spot but allowed them one more witness.

Now if you want to Deal with such a Insurance Co ??

Then by all means go right ahead

[storms72]

Yeah Dog, I have had a few experiences with them whilst working for a marine outlet that took on repair jobs.....customers were pretty unhappy when they got their boat back and there were still things not back to the condition they expected......One only had the hull repaired and the customer was stuck with a large bill to repair the lower leg of a 175hp yamaha 2stk that was partly snapped off due to a wayward trailer rolling down their steep driveway, the street and stopping in the nissan patrol down the road..

Who would you recommend for insurance Dog and others?

[Dog Catcher]

Wont recomend a Insurer they're all the same all I can recomend is that one reads the policy they take out to insure they are getting the cover they require.

As far as club marine goes I wouldn't recomend them to a jap on ANZAC day & there's a few peeps I know down @ the St George motor boat club who would say the same thing.

I beat the P***** only because $$'s were of no concern to me & had my 2 other boats to fish out of @ the time also helped one of my mates is a QC & I didn't cop the huge legal bills others would.

Even @ mates rates it still cost me over $80 k in legal bills & can only ponder what club marines lawyers charged them.

The reason most peeps fail in such claims is simply because of legal bills & the stress neither got to me I was just pissed off with them esp after I tried for the 1st 12 months to resolve the claim without having to go to court

Dont have many pics of the goat but I refused to set foot on it for 3 years as far as I was concerned club marine had possesion & never returned my keys you can see in this pic what I meant they stripped it they even left the kitchen sink out in the open insidethe cabin area everything was striped from the beds to linings all back to bare alloy

http://img164.imageshack.us/img164/9544/back5gw.jpg