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Old 24-05-2013, 13:36   #1
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Help: Insurance needed - Ferro Cement Yacht any help?

Hello Happy Sailors.

We are looking for insurance for Ferro Cement Yacht for use in Europe, is there any other ferro boat owners out there that have insurance currently? "All Risks Insurance"

UK wise it seems quite difficult to get, but I suppose I don't have to use a UK company do I?

1, Any names and numbers? (Feel free to private me also)

Tried: "Yachtmaster insurance" (Broker for lloyds) as the boat hull was built by one company over 25 years ago and there are no plans of build quality for the build of the boat they will not insure it. (hull was built in one place and fitted out privately elsewhere in europe), boat has been in water for 25 years and no problems.

Tried: Basic Boat (website) can insure anything it seems 3rd party but some marinas seem a little picky about this insurance as it is like self certifying your own boat (no surveys need.. nothing).

I'm looking to obtain "All Risks Insurance" for European use coastal water usage.

We will have a "Pre purchase" & "Insurance survey".
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Old 24-05-2013, 13:58   #2
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pirate Re: Help: Insurance needed - Ferro Cement Yacht any help?

Try Pantaenius
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Old 24-05-2013, 14:41   #3
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

How about Ace or Boatus?
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Old 24-05-2013, 15:37   #4
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

Thanks have emailed details to Ace UK devision.

Boat US needed a Zip code in US to proceed so I emailed details instead not sure if they can insure for a European citizen but emailed them separately.

And have also requested a price from Pantaenius on a very handy quote form.

Many thanks I will let all know how they go, any other suggestions.

Any Ferro Boat owners have their Boats covered with All Risk insurance??
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Old 24-05-2013, 15:43   #5
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

There's Edward William Marine Insurance. You may want to do some research on them first.
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Old 24-05-2013, 16:07   #6
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

Quote:
Originally Posted by Reefmagnet View Post
There's Edward William Marine Insurance. You may want to do some research on them first.
Just read a forum on that one.. they seem a little dodgy to be honest.

But as the forum says they may be the only ones out there.. still fingers crossed for my other quotes..
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Old 20-06-2013, 03:57   #7
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

I had my 15m ferro insured 3rd party with Edward William n Australia, but fancy I would probly have a lot of problems making a claim
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Old 20-06-2013, 04:35   #8
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

I couldn't see from your profile where you are based, for some reason it seems to matter. I had all kinds of problems being based in the UK and sailing in the US, American companies wouldn't quote without a US address. I tried Pantaenius at the London Boat Show and quote they gave me left me wondering whether they were really in the insurance industry. Every company wanted to limit my cruising to within a few miles. I had a crazy marina owner in Pasadena Maryland telling me he would cut-up the boat I had just bought off him if I didn't have insurance. In the end I went to my bank and asked their advise. They hooked me up with Coleman in Poole who have been fantastic and the price was around 25% of Pantaenius. I have asked around over the years and understand that it is posssible to add a third party liability to your home insurance for a fraction of the cost. I would say don't let the lack of insurance stop you, you will struggle to get any kind realistic quote to cross oceans and the money would be better spent on preparing the boat. Safe sailing and best wishes.
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Old 20-06-2013, 04:57   #9
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

I believe there are only a few states that have homeowners policies that cover larger boats liability. Most states its 26' max, therefore my home built cat will be 25'10" on the papers.

I happen to know New York State would, but who knows after Sandy?

do you need coverage for European waters by law? I was thinking of spending some time in Europe in a few years and was not planning to have insurance.
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Old 20-06-2013, 05:29   #10
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pirate Re: Help: Insurance needed - Ferro Cement Yacht any help?

You need 3rd party liability if you plan on using ports, marina's b'yards etc... this is coz there's a lot of dickheads who don't know how to handle a zimmer... let alone a boat.
Result if you don't is you get a 'Denuncia' on you, as its called in Spain and Portugal.. maybe Italy but I don't speak Italian..
That's when you bash my boat and you say 'Tough ***** mate.. got no insuance... so sue me...'
I whip out my mobile and your boats chained to the dock by the Guardia Civil within the hour... and if you try and run there will be a patrol boat on your ass...
You may get it back in a couple of years.. or sooner if you cough up for the damages... or if a local 'bigwig' takes a shine to it.. it'll be on the auction block within 6 months and sold for peanuts to 'The Man'.
Be intelligent...
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Old 20-06-2013, 06:58   #11
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Re: Help: Insurance needed - Ferro Cement Yacht any help?

Talk to a couple of good marine insurance agents. Filling out forms online is not the way to go, you will end up being rejected and or getting higher quotes. An agent can and will take all of your information to the insurance company to get you the best coverage at the best price. marine insurance is not like home owners or auto insurance so you need to really know what you are getting and an agent will help with that. it will not cost more just because you use an agent in fact the opposite is true they will make sure you are only paying for what you need. A fero boat is harder to insure because there are/where so many poorly built ones out there. An agent can help with this as well. Good luck
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