Live aboard personal effects Insurance

[Andy F]

Can any Brit live aboard give me some advice on how they insure their stuff on board. Had an incident recently and found our kit not covered. Have contacted various companies but they are not interested in insuring contents. I am after cover so I can replace our belongings if we are burgled or in case of total loss.
Any advice gratefully received.

[john61ct]

Not brit.

But many homeowner's policies accommodate a rider for personal effects while outside the home.

[TrentePieds]

Yes, John is right. This also from a non-Brit, but the fundamentals of insurance are the same in Blighty and here in the Colonies.

A homeowner/tenant policy is the way to do it. Generally such things as tools "away from insured premises" will have to be "scheduled", i.e. inventoried and listed, the schedule being attached to the basic policy. There would normally be an additional premium payable, but most underwriters would furnish the coverage as a service to "good risks", i.e. insureds who have a clean claims history.

Underwriters would not be keen on accepting the additional risk on the basis of a yacht policy, particularly if the insured has no other coverage with them.

TP

[hellosailor]

Gents, the OP said he's a liveaboard, which presumably means he does not own a "home" ashore and as such cannot have "homeowners" insurance of any kind, since that usually means "house or apartment owners" insurance, and he's just got the boat.

Some serious locks, a security system with cellular alerts, and vigilance against sinking might well be the most economical alternative. Except, of course, if the OP has a couple of Matisse and Renoir originals aboard...those do tend to require more attention.(G)

[john61ct]

Plenty of liveaboards own a house.

And renter's can be very cheap, might be worth it to the OP, even if just a room at a friend's.

Was just saying, that's how it's usually done.

[TrentePieds]

Hello Hello :-)

Yes we are perfect aware of that - or at least I am. Having watched John outta the corner o' me eye, I suspect he is too :-)! For the OP's specific problem ("I am after cover...") the answer is to buy or rent property ashore, insure it and schedule the stuff that needs covering while on the boat.

"Self insuring" ( 'orrible circumlocution!) is another "insurance" solution. I suspect that's the one most of us use. I know for damnsure that my "kit" - the clouts I wear while afloat - ain't worth insuring. Most of it has come from the SallyAnn anyway at something less than 10% of the retail sticker price. My tools? A RIDGID brand set of 18V drill motor and screwdriver is ahunnertbux these days, and other tools are similarly priced. Handtools, wrenches and such, are literally a dime a dozen. Check out the garage sales in you neighbourhood. So why sweat it? After all, it's not every day you get you boat broken into. And how often do you sink a boat - once a decade maybe?

TP

[Nickodemus]

We have coverage with Markel and they cover $10,000 of personal stuff. $5,000 was apparently “standard” but I paid a minimal amount more for the $10,000. That is as high as they would cover though. Better than nothing! Not sure if Markel covers Brits.

[MIRELOS]

not a Brit, but Pantaenius insurance covers my personal effects

[Smokeys Kitchen]

We live aboard and do not own a home. We have insurance through the New Hampshire Insurance Co (an AIG group company) with riders for both 'Personal Effects' and 'Personal Property' on the boat. I do not know what the max coverage would be that you could get.

[boatman61]

Originally Posted by MIRELOS

not a Brit, but Pantaenius insurance covers my personal effects

Am a Brit and Pantaenius UK is my insurer of choice when I have a boat.. they do/will cover contents depending on the policy.
I usually go for Liability with a separate contents and injuries insurance coverage for myself and any crew.. unless its an expensive boat which is rare.

[Nikki S]

I’m not Brit either but our bost insurance covers certain contents....

Have not had to claim on it, but I have a “work from home job” for a land based company that bought me a laptop which died and the business insurance covered it because it was insured for outside the place of business....

[john61ct]

Originally Posted by hellosailor

Some serious locks, a security system with cellular alerts, and vigilance against sinking might well be the most economical alternative. Except, of course, if the OP has a couple of Matisse and Renoir originals aboard...those do tend to require more attention.(G)

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