Boat insurance - happy story

[Rigger Bruce]

Another insurance story, and not a happy one.
I am on the other side of ownership as I am a rigging company in Fiji, whom without a claim,but the greed of a catel of insurance companies in Fiji got together as I was told my insurance was going way up this year and spoke against the company Insurance Holdings ltd, and they used their power make sure that I was punished and serverly.I work on yachts up to 90' and swage to 16 mm with stock I keep.If it's bigger I bring it in from Australia or NZ.Because I pissed off a agent of this company she called all her mates in the business in Fiji and made sure no one would offer me insurance for working on boats over 23 feet.My
insunce went from 1132.00 fj a year to 11400.fj, this is a company that had no claims in the last 8 years and the one I did have was less than 5000,us over 8 years ago.They only ask for the last 5years but I was in a spot of take it or leave it from an offshore company.Had it been in Hawaii or Australia it would cost 2000 to 2500.00us for the coverage.not 1000 per cent of what I have been paying for the last 12years. They are all crooked insurance people here and could give a s,,, about the local industry here.Cooking the golden egg is what they are doing.

[Shoalcove]

Mike,
I’ve dealt with Fairway since 2001. Last year I made a significant claim and they were excellent to deal with. It’s true that they all are great when they are taking your money but Fairway really came through for me when I needed them. My policy was not with Intact at the time but I’ve been assured that the service will be the same if I ever ( god forbid!) need it.

[Mike OReilly]

Originally Posted by Shoalcove

Mike,
I’ve dealt with Fairway since 2001. Last year I made a significant claim and they were excellent to deal with. It’s true that they all are great when they are taking your money but Fairway really came through for me when I needed them. My policy was not with Intact at the time but I’ve been assured that the service will be the same if I ever ( god forbid!) need it.

That’s great to hear SC. That’s another great endorsement. I sure hope I never have to test the claim side of things, but so far they sounds pretty darn good.

[senormechanico]

Having been screwed by insurance companies four times over my lifetime, I'm convinced the only "happy" story would include a company who actually PAYS a claim.


Proof is in the pudding. Did you ever wonder why insurance companies are so big, powerful, bursting with money and have huge buildings? Do the math.

[robert sailor]

Originally Posted by senormechanico

Having been screwed by insurance companies four times over my lifetime, I'm convinced the only "happy" story would include a company who actually PAYS a claim.


Proof is in the pudding. Did you ever wonder why insurance companies are so big, powerful, bursting with money and have huge buildings? Do the math.

It's important to note that dealing with Canadian insurance companies settling a claim is usually or can be quite different that dealing with an American insurance company.

[Mike OReilly]

I’m no fan of insurance companies. I’ve often expressed disdain for the whole boat insurance process. Which is why I felt it only fair to report this positive experience.

I think it’s important to realize the broker and the underwriter are two different entities. I am sure the underwriter will priorities their needs over mine should I ever need to make a claim. But I hope a good broker like the one I’ve found will at least attempt to support their clients’ interests in any claim situation.

[UFO]

After our neighbour wiped our back end out in the pen and some confusion delaying repairs between our Insurance company and theirs they covered a new layer of anti-foul and prop speed as well as all the repairs


That was Club Marine in Australia - Pretty good result all in all

[Uncle Bob]

Originally Posted by UFO

After our neighbour wiped our back end out in the pen and some confusion delaying repairs between our Insurance company and theirs they covered a new layer of anti-foul and prop speed as well as all the repairs


That was Club Marine in Australia - Pretty good result all in all

I wish my Club Marine experience had been as good, perhaps they are better to their policyholders than those that have been damaged by their policyholders.