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Old 06-03-2014, 15:49   #1
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Aussie Insurance

What is the best insurance company to use in AU.
A big winded question, asked over and over Im sure. But its time again for insurance renewal , and my club marine comprehensive has gone up again.
I shop around every year and have to nearly fight for a fairer premium, or even a cover , as the boat is now 13 years old. Still ,I might add , in excellent condition.
Cheers.
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Old 06-03-2014, 15:56   #2
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Re: Aussie Insurance

That's a bit like asking "how long is a piece of string" as the answer will vary depending on your size and type of boat, location and how it is berthed or moored as all insurers apply different levels of risk to different scenarios.

Probably best to do what I do with my car insurance and get an online quote as a new prospect. I often find the quote for a new potential customer will be less than the renewal cost as insurance co's have a habit of upping the renewal over the last years premium. It's a crazy way to reward loyalty, but it's what they seem to do.

another option is to get a number of quotes, study the T&C's and then hit up your preferred insurer with your best quoted price wise and see if you can get them to match it.
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Old 06-03-2014, 16:00   #3
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Re: Aussie Insurance

There is not much choice anymore and you will find club marine the cheapest. However if you have a claim they can be mighty mean.

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Old 06-03-2014, 16:47   #4
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Re: Aussie Insurance

Thanks , I sorta expected this. Just wish it was easier for the non intellect type cruiser , who really does not understand the conditions of insurance as we don't even understand the words they use. Will try keep you posted .
Has anyone recently been through this , and what was your conclusion.
My boat is a 38ft cat , insured for around 200k , in a cyclone region. Doent get much better does it.
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Old 06-03-2014, 16:55   #5
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Re: Aussie Insurance

A lot of companies are reluctant, some to the point of outright refusing, to insure north of 26 deg south. Give Pantaenius a try. Not saying they are the best and cheapest but they should provide a fair comparison at least.
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Old 06-03-2014, 17:23   #6
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Re: Aussie Insurance

It depends on whether your piece of string is cotton, hemp or man made.

I found that NRMA (a NSW based Insurer) to be Excellent over the years

My experience with "Anchorage Marine" was FN abysmal. I still have a "special word" for them. But the mods will delete my post if I use it :-)

My Experience with QBE many years ago. ok - nothing to report .
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Old 06-03-2014, 18:25   #7
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Angry Re: Aussie Insurance

Pantaenius by a mile
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Old 06-03-2014, 18:52   #8
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Re: Aussie Insurance

I had quotes from TopSail in the UK and Pantaenius
But ended up going through a broker
Oceanic Marine Risk - they got me a better price through Nautilus Marine Insurance. They have an Office in Manly Queensland and seemed to cover things well. Had an goo d reputation from people I spoke to up here.
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Old 06-03-2014, 19:04   #9
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Re: Aussie Insurance

I would second Nautilus Insurance, they covered me for 2 new sail drives when Yanmar refused to replace them under warranty,even paid out on my inflatable that split its seems. Would still be with them if they covered vessels in international waters, am now with Topsail.
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Old 06-03-2014, 19:20   #10
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Re: Aussie Insurance

Recently did the rounds and settled for Nautilus.Have been insured with Club marine many times.We have never had a claim so can't comment on that.
Prices I found all quite close ie within about 5% .
The reason I took Nautilus ,although I leaned toward Clubmarine,in the end was because I was lierally within hours of taking delivery of the boat and Clubmarine had been playing around for a couple of days to get me a firm quote.Nautilus did it on the spot so got the business this time.
Chris
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Old 06-03-2014, 19:44   #11
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Re: Aussie Insurance

Nautilus got burnt real bad up my way a few years ago when a heap of boats got wrecked along the Airlie foreshore during a storm. Haven't checked recently but their "enthusiasm" to insure around these parts kind of went out the window after that. worth checking with, but they might not bust a nut to get your business if you are in a cyclone affected region.
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Old 06-03-2014, 20:51   #12
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Re: Aussie Insurance

Glad you mentioned that reefmagnet.Read somewhere last month when away caravaning that they will not insure while on a mooring around the Whisundays and meant to look into that and forgot.
As we are headed that way in a couple Of months could be important might even be worth a change of insurer.
Chris
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Old 07-03-2014, 20:48   #13
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Got a quote from Pantanius and they were 700 cheaper than club marine on a 200k boat in cyclone area. Best read the fine print though.
Still waiting for club marine to get back to me , also Nautilus. 700bucks is a lot of cruising kitty.
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Old 08-03-2014, 03:30   #14
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Re: Aussie Insurance

A cautionary tale:

A couple of weeks ago a strong cold front with embedded storm cells passed over southern Tasmania. Lots of damage, ashore and afloat. In Little Oyster Cove, a fairly crowded mooring field, a 38 foot catamaran flipped ON ITS MOORING. It then set out, dragging mooring behind, and crashed into several boats, one belonging to a friend. Substantial damage was incurred. The catamaran's insurer, Nautilus, at first agreed to cover the liabilities. A few days later, they reneged, saying that the damage was due to an "act of God", and thus exempt from coverage. It will soon be in the courts.

Point is, read the fine print, and ask what constitutes an "act of God" in their eyes. Apparently this varies between insurers, and it can bring on a lot of grief.

Being one of their customers, I'm concerned!

Cheers,

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Old 08-03-2014, 04:04   #15
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Re: Aussie Insurance

Quote:
Originally Posted by Jim Cate View Post
A cautionary tale:
....... The catamaran's insurer, Nautilus, at first agreed to cover the liabilities. A few days later, they reneged, saying that the damage was due to an "act of God", and thus exempt from coverage. It will soon be in the courts.

Point is, read the fine print, and ask what constitutes an "act of God" in their eyes. Apparently this varies between insurers, and it can bring on a lot of grief.

Being one of their customers, I'm concerned!

Cheers,

Jim
It even varies between religions I understand

But back to insurance, I could never understand how they still manage to have a get of jail free card in this "modern" world of contracts and accountability and such.
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