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Old 24-11-2015, 03:12   #1
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Youi Insurance in Australia

A plug for Youi Insurance in Australia.

I'm with Club Marine with my 30+ year old ketch which I'm doing up. CM require me to have it assessed every two years which is about $480. I've insured it for $45k as that's what a boat similar to mine would pull if I sold it. That's '$1150 a year which includes masts, rigging, sails and tender.

Youi I have to cover rig, sails and tender outboard separately, which is $45k for hull, $50k for sails and rigging. So with Youi I'm now insured for $90k for $650 a year.

Club Marine worried me that at insured for just $45k, if I lost the main mast, rigging and sail, would they write my boat off or would they spend say $35k to repair it? I doubt it. I think they would write it off and I'd be without any boat.

So Youi appears to be a great option. I've now moved my two cars, house, contents and MC over to Youi and saying almost $2000 a year doing so.
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Old 24-11-2015, 04:53   #2
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Re: Youi Insurance in Australia

Quote:
Originally Posted by Rustic Charm View Post
A plug for Youi Insurance in Australia.

I'm with Club Marine with my 30+ year old ketch which I'm doing up. CM require me to have it assessed every two years which is about $480. I've insured it for $45k as that's what a boat similar to mine would pull if I sold it. That's '$1150 a year which includes masts, rigging, sails and tender.

Youi I have to cover rig, sails and tender outboard separately, which is $45k for hull, $50k for sails and rigging. So with Youi I'm now insured for $90k for $650 a year.

Club Marine worried me that at insured for just $45k, if I lost the main mast, rigging and sail, would they write my boat off or would they spend say $35k to repair it? I doubt it. I think they would write it off and I'd be without any boat.

So Youi appears to be a great option. I've now moved my two cars, house, contents and MC over to Youi and saying almost $2000 a year doing so.
Good luck if you need to make a claim. While I cant speak for their Marine insurance, there have been a lot of complaints against the discount insurers.
Not trying to put you off, just be aware that the discounters dont have the best reputations at claim time.
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Old 24-11-2015, 14:01   #3
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Re: Youi Insurance in Australia

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Originally Posted by ozskipper View Post
Good luck if you need to make a claim. While I cant speak for their Marine insurance, there have been a lot of complaints against the discount insurers.
Not trying to put you off, just be aware that the discounters dont have the best reputations at claim time.
That's the sort of feed back I do want to know thanks.

The couple who told me about them had an accident just two days after taking out their boat insurance and had no problem at all claiming.
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Old 24-11-2015, 14:49   #4
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Re: Youi Insurance in Australia

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Originally Posted by Rustic Charm View Post
That's the sort of feed back I do want to know thanks.

The couple who told me about them had an accident just two days after taking out their boat insurance and had no problem at all claiming.
See if they get offered renewal. I've heard that YOUII won't offer renewal after a serious claim with motor vehicles in a lot of cases. YOUII are also great if you are low risk. Anyone else and they quickly become noncompetitive.
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Old 24-11-2015, 14:59   #5
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Re: Youi Insurance in Australia

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See if they get offered renewal. I've heard that YOUII won't offer renewal after a serious claim with motor vehicles in a lot of cases. YOUII are also great if you are low risk. Anyone else and they quickly become noncompetitive.
Yes, could be. I'm continually reading reviews now and there seem to be more people leaving reviews that are happy with them than not. Most people not happy seem to have been given expensive quotes.

And it is a 'low risk' insurer. I've had car insurance for nearly fourty years and only had from memory one claim in that time when someone ran into the back of me. I want to be rewarded for that. Youi seems to get me
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Old 24-11-2015, 15:09   #6
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Re: Youi Insurance in Australia

Quote:
Originally Posted by Rustic Charm View Post
A plug for Youi Insurance in Australia.

I'm with Club Marine with my 30+ year old ketch which I'm doing up. CM require me to have it assessed every two years which is about $480. I've insured it for $45k as that's what a boat similar to mine would pull if I sold it. That's '$1150 a year which includes masts, rigging, sails and tender.

Youi I have to cover rig, sails and tender outboard separately, which is $45k for hull, $50k for sails and rigging. So with Youi I'm now insured for $90k for $650 a year.

Club Marine worried me that at insured for just $45k, if I lost the main mast, rigging and sail, would they write my boat off or would they spend say $35k to repair it? I doubt it. I think they would write it off and I'd be without any boat.

So Youi appears to be a great option. I've now moved my two cars, house, contents and MC over to Youi and saying almost $2000 a year doing so.
Hi I recently priced youi for the boat and house and contents, NRMA were cheaper for the house and the price for the boat was essentially the same as the broker who I have been with for three years.
Add the fact that the person with whom I dealt at youi obviously was not a boat person, and some of the fine print in the PDS led me away.
Hope it works out for you.
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Old 24-11-2015, 15:29   #7
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Re: Youi Insurance in Australia

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Originally Posted by Rustic Charm View Post
Yes, could be. I'm continually reading reviews now and there seem to be more people leaving reviews that are happy with them than not. Most people not happy seem to have been given expensive quotes.

And it is a 'low risk' insurer. I've had car insurance for nearly fourty years and only had from memory one claim in that time when someone ran into the back of me. I want to be rewarded for that. Youi seems to get me
That's the thing with budget insurers. If you fall within their statistically low risk parameters (and that's more the area you live and the type of and how you use the insured items) then they look after you with premiums. Anyone else is either refused or given a stupid premium quote. So claiming an insurer is great based on premiums for a specific case alone, probably isn't that good an indicator.

Sent from my SGP521 using Cruisers Sailing Forum mobile app
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Old 24-11-2015, 15:57   #8
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Re: Youi Insurance in Australia

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Originally Posted by Reefmagnet View Post
That's the thing with budget insurers. If you fall within their statistically low risk parameters (and that's more the area you live and the type of and how you use the insured items) then they look after you with premiums. Anyone else is either refused or given a stupid premium quote. So claiming an insurer is great based on premiums for a specific case alone, probably isn't that good an indicator.

Sent from my SGP521 using Cruisers Sailing Forum mobile app
Well, all I'm commenting on is the savings. That's all I can comment on. Perhaps in 2 years time I will be able to comment on other factors, or maybe I won't have a claim for ten years.
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Old 24-11-2015, 16:19   #9
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Re: Youi Insurance in Australia

We have insured at present.
2 cars
1 Boat
1 House
1 House contents
1 Camper Trailer
1 Caravan
Over the years they were all bundled together with one insurer although that insurer varied.
As of this year ,
based on premium price,each has a seperate insurer .
The boat and our main car are the biggest variables among the companies with the boat now costing close to half of what it was and the main car with Youi at a very reduced rate.Dont like brokers and have in the past and present only used the bigger name insurers .Some I have used for years without claims but their premiums to me continued to rise regardless of competition .
Personally have only heard good things about Youi otherwise would not have changed
Chris
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