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Old 14-04-2008, 01:40   #1
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Ferro Boat Insurance in Australia

Does anyone know of an insurance company within australia or who insures australian boats, who will insure a ferro yacht
I am having the boat regularly surveyed throughout fitout so should not be too hard to prove the quality of construction.
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Old 14-04-2008, 02:11   #2
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Do I understand correctly that you are currently building the boat??
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Old 14-04-2008, 15:56   #3
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G'day Wheels

the hull and the deck have been completed for ni on 12 years, but never inthe drink as alot are, I am only fitting it out, and making her real and of course nice
The hull actually is the best plastering and finish job on any ferro I have seen
All the inside and underneath is still bare
the top sides have an international epoxy and wattyl 2 pack top coat
I am going to over coat with more epoxy to smooth and finish properly
Cheers
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Old 14-04-2008, 19:27   #4
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Club Marine...

Have you talked with Club Marine?

By that I mean "Pick up the phone and talk with the underwriters."

My experience is that they are not great fans of over insuring but good otherwise.
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Old 14-04-2008, 22:53   #5
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Try Nautilus Marine; they are currently a little cheaper than Club Marine.
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Old 14-04-2008, 22:57   #6
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Yeah have tried club marine and Nautilus
Nautilus are good but will only do third party, at least that is something though
I am still trying to find someone, have a broker calling me back later who may help
this is ridiculous
Thanks Phil
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Old 15-04-2008, 03:51   #7
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Greg, the fact that the boat is new will be an advantage to you. Older FC's are next to impossible. It doesn't matter when the boat was begun and how long it took to build. You just tell them it is new and still to be launched or has just been so. We went from Insurance company to company with no joy. Then Dawn happened to say that the boat was launched in 97 and the Company suddenly changed tune. They said because it was so new, they would insure it. they never asked how long it may have sat around for. We are not sure, but we believe it may have been 11 yrs in the build. Sorry that I can't help with a company, but just be sure to say that it is new and hopefully it may help your situation.
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Old 15-04-2008, 03:54   #8
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Quote:
"Pick up the phone and talk with the underwriters."
You will never get to do that. Underwriters are huge companies and are often overseas companies. (Overseas to us that is.) That reason is why many Insurance simply say "no we don't insure FC" because many of those companies have the same underwriter and it is the underwriter that actually sets the policy. They are mostly out of touch of most of us mere peasants.
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Old 15-04-2008, 04:11   #9
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Talking with...

When the online transaction for my insurance required personal input I picked up the phone and talked with the underwriters.

No worries...
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Old 15-04-2008, 15:38   #10
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Thanks guys

I have been trying to get through to various people, and have found a broker in Tasmania who said that he may be able to twist the insurance companies on the basis of it being a new boat also. The surveyors reports if singing highly of the boat, and the fact of being new he says should make a difference. He said they do listen to that.


So sad that they punish us for the mistakes of a number of people that just cut corners. They say they are mostly concerned with us sailing off into the blue, but to even get insurance to stay local is halted.

Will keep trying, and never say die
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Old 15-04-2008, 23:23   #11
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What needs to happen is that the insurance companies need to start looking at some Stats. FC has the lowest claim ratio of any boat out there. And when there is a repair, it is usually one of the lowest costs. But the stupid reasoning of simply saying, "No we don't insure FC" with out being able to discuss the situation with anyone is plain stupid.
So Boracay, you talked to the underwriter of an insurance company???So what? did some guy there then say yeah we will tell the insurance company to insure you?? It must be very different than here in NZ.
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Old 16-04-2008, 00:30   #12
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If only they would look at current stats and not just previous figures and details
I will let you know how I go, I think I am getting the same results as you get there in NZ and everywhere else in the world
lets keep our fingers crossed, have heard of a few with a new boat being exempted though
Why dont they look at if the boat has been around for thirty years, isnt it likely it is seaworthy

thanks guys
keep smiling wheels

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Old 21-04-2008, 05:06   #13
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hello ,I owned a rorc 32 18 years agoe and was a member of the hartley ferro boat association in auckland N.Z.
Back then the club arranged for several insurance company reps to come to a club meeting to discuss insurance for ferro boats.
there were no possitive results and sounds as if nothing has changed.
the same problem applies for financing a ferro boat.
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Old 21-04-2008, 13:05   #14
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Getting Finance was no problem at all for us. But of course, you can't Finance if you don't have insurance. So it is a catch 22 in that regards.
Hmmm, I pressume the financiers new it was FC. I never thought of that. Oh well, she's paid for now.
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Old 27-04-2008, 18:50   #15
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The surveyor has inspected the boat for first inspection and is due in a couple of weeks for the next one
we then will have a report for insurance purposes
He was quite happy with her, so lets hope this may sway them
my insurance broker is holding out hope anyway
cheers and thanks all
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