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Old 24-01-2008, 04:39   #1
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Smile Ferro Boat Insurance problem!

Hi All, I am new to this but my husband and are are looking for a family boat that will suit our young children aswell as just getting us on the water - we have found a great boat but to my husbands dismay it is a Ferro Boat - but even he admits it meets ALL our requirements, but feels the FC stigma.

However, having talked about this I/we can handle it being FC given the type of use we will be needing it for, but our biggest dilemma is finding an insurance company that will actually insure it 3rd party or comprehensive. We live in Sydney Australia, boat is 1974, mono sail, Excellent condition, $40k.
Present owner does not have insurance but not sure I would be comfortable with that!

Does ANYONE know of ANY companies in Oz or international that will insure a Ferro Boat.

Any help would be greatly appreciated as I really like this boat for practical reasons, we will only be doing social sailing etc...

Thanks
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Old 24-01-2008, 11:20   #2
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Sorry I can't help with suggestions of an insurance company over your way. But yes, it is the only real true problem with owning FC. We really need someone high up in a recognised Insurance company do some research. I think it would turn the tables on the insurability of this material. But from our perspective, it is hard to get a company to entertain the idea when all we have to talk to is some person behind a counter that flatley responds with, "no we don't insure FC vessels".
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Old 24-01-2008, 11:21   #3
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By the way, I would love to see a photo of the boat. Is it through a broker that may have web info of the boat?
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Old 24-01-2008, 13:04   #4
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Aloha Davovivo,
Welcome aboard!! Good to have you here. I can't help with your question but I hope someone in OZ can.
Kind Regards,
JohnL
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Old 24-01-2008, 13:13   #5
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You should at least be able to get third party insurance. If you can't find cover for your own boat then you might have to self insure if possible. It's the "stigma" of ferro that makes them such good value to buy.
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Old 24-01-2008, 14:29   #6
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ferro insurance

Thanks for the replies, I guess my next step is either going through the A-Z of insurance companies and hoping at least one of these companies will insure 3rd party - I just want to be able to sleep at night knowing that if in a storm the boat breaks free and goes into a million dollar boat that we will be insured and not bankrupt and penniless for the rest of our lives :-(

But if anyone out there owns a FC boat and has insurance please let me know.

Many thanks,
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Old 24-01-2008, 16:06   #7
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Quote:
Originally Posted by davovivo View Post
it is a Ferro Boat - but even he admits it meets ALL our requirements, but feels the FC stigma.
...
Does ANYONE know of ANY companies in Oz or international that will insure a Ferro Boat.
We got third party for our ferro from Club Marine in Brisbane.
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Old 24-01-2008, 16:26   #8
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We got third party for our ferro from Club Marine in Brisbane.
Thanks for that will try them - also are you happy with your ferro? is it a sailboat?
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Old 24-01-2008, 16:35   #9
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... are you happy with your ferro? is it a sailboat?
Yes and yes - a ketch (two masts, the back one smaller than the front one).

I would prefer GRP, but the space vs cost tradeoff didn't add up for us.
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Old 24-01-2008, 18:31   #10
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Going for the 3rd party policy & allso self insuring could be the go particarily if your diciplined enough to have an "insurance bank account" that the alternate premium goes into to save, & your probably buying at 1/2 price of any other material at the same length too so stick a bit of "fat" into the account from the start, five years down the track(wake) if you dont crash it'l look good & allso remember any claims gunna have an excess too. You might try allboat & cargo(oamps?) in Qld for comprehensive , my bashed up Seawind 24 is with GIO for 3rd party(you just have to have it) at about $85 per annum. All the best from Jeff.
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Old 24-01-2008, 20:10   #11
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I have had a plain Ply hull, Glass over ply hull and solid GRP hull. Never had steel, nor would I. Unless I wanted a fast speed machine, I would never entertain having anything other than FC again. There are boats built in FC that are built to be fast and I would probably suggest it being a little bit of a waste of time, but mostly FC is about building big volume comfortable hulls.
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Old 24-01-2008, 21:08   #12
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Ferro Insurance 3rd Party

Finally found a company that will do 3rd party insurance 'nautilus' and very very helpful, all subject to surveyors report and pictures - club marine no longer do 3rd party for fc boats.

This forum has been great, very helpful and friendly and I will keep you posted if we go ahead and buy it.

Thank you all so much :-)
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Old 24-01-2008, 21:30   #13
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I still would offer less than half of asking price and go from there
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Old 24-01-2008, 23:15   #14
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That is awesome to hear. I will try and remember that as this question has been asked before on the odd occasion.
Hope the purchase works out.
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Old 25-01-2008, 00:45   #15
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Insurance

Try here they insure FC www.[URL="http://www.edwardwilliam.com"]Edward William[/URL].Greg
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