Cruisers Forum
 


Reply
  This discussion is proudly sponsored by:
Please support our sponsors and let them know you heard about their products on Cruisers Forums. Advertise Here
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 27-10-2019, 19:46   #46
Registered User

Join Date: Feb 2018
Posts: 42
Re: Insuring Aus registered boat

Quote:
Originally Posted by JAFO View Post
Hmmm.. So, I wonder.. as a dual citizen (Aussie & UK) do I have a little more wiggle room than a plain Aussie citizen? Because frankly, if I can register my upcoming build outside of Australia, that would my preference.

I agree with that as an Aussie - it's law that a boat owned in a foreign land must be Aussie registered if the owner is Australian - that's clear.

as for a dual citizen -- well ---------- hmmmmm ??


I have begun the registration process for my boat now - here in Australia - the process will be completed in England - seems fuss free. Good team easy to deal with - I think there's only 4 of them - they are now located in Coffs Harbour - they must have only shifted in the last few weeks.
Pinto is offline   Reply With Quote
Old 27-10-2019, 20:22   #47
Registered User

Join Date: Apr 2019
Location: Melbourne, Australia
Posts: 202
Re: Insuring Aus registered boat

Quote:
Originally Posted by Leakie Marine View Post
Hi Mr B,
I just got a quote from them and the price is $1k less than the big firms! $1500 for $125k, 1k excess with racing cover.
It would be helpful if you said just who "them" is.. New Wave Insurance? Or someone else?
JAFO is offline   Reply With Quote
Old 28-10-2019, 00:56   #48
Registered User
 
Fore and Aft's Avatar

Join Date: Jan 2015
Location: Gympie
Boat: Volkscruiser
Posts: 2,039
Re: Insuring Aus registered boat

Mr B it will be interesting to see what happens when some serious claims start being made on New Wave insurance. Back when YOUI used to insure boats without a survey if a major claim was made in my area I would get a call to go survey the boat and then often my report was used to reject the claim.
People are just dreaming if they think an insurance company is going to pay out on an old rig or a boat that has sunk due to neglect. I asked YOUI about this and they had a clause that said the boat had to be kept in a "Seaworthy Condition" what defines that is up to the insurance company. I imagine New Wave will use the industry standard of a rig less than ten years old and a hull and fittings that have been reasonably maintained.......Time will tell I suppose.
I am insured with Top sail, $1000 on an agreed value $50,000 policy. I know they will pay as I have dealt with them regarding other boats that have sunk.

I got a quote from New Wave and there quote was $1140, no survey and no idea if they will pay out!
Cheers
Fore and Aft is offline   Reply With Quote
Old 28-10-2019, 03:03   #49
Registered User
 
Mr B's Avatar

Join Date: Aug 2011
Location: Melbourne Australia
Boat: Paper Tiger 14 foot, Gemini 105MC 34 foot Catamaran Hull no 825
Posts: 2,907
Re: Insuring Aus registered boat

Quote:
Originally Posted by Leakie Marine View Post
Hi Mr B,
I just got a quote from them and the price is $1k less than the big firms! $1500 for $125k, 1k excess with racing cover.

How have your found them so far?
I havent made a claim, So I dont know,
I havent heard from them since I took it out,
Yaringa Marina accepted their insurance policy with out comment,
And they were the Cheapest by a long way,

But I am now fully insured with New Wave,
$1600-00 for $150,000-00, Agreed Value, $1000-00 Excess,
The grand excess is to stop trivial claims, Which keeps the costs down,
No survey, So that in itself saved me the best part of $1000-00.
I dont have racing cover as I dont race,
Im just a cruiser,

Very professional in their attitude, They did ring me to chat about the policy,
Which I thought was good of them,
And the repairs I did to my boat, EG; Two new hulls and a lot thicker than the original Hulls, 5mm to 13mm thick,

Cheers, Brian,
PS; It goes back in the water Wednesday,
Mr B is offline   Reply With Quote
Old 02-11-2019, 00:07   #50
Marine Service Provider
 
TabbyCat's Avatar

Cruisers Forum Supporter

Join Date: Jul 2007
Location: still cruising after 15 years
Boat: MaineCat Catamaran 41'
Posts: 518
Images: 5
Send a message via Skype™ to TabbyCat
Re: Insuring Aus registered boat

If you are an Australian Citizen with and Australian registered boat and an Australian mailing address, the only company that I know of that can quote is Pantaenius Australia. It's not the insurance companies deciding this, it's the protectionist insurance laws in Australia causing this.

If you'd like a quote on a UK registed boat that will not be navigating in Australia, and you have access to a non-Australian address (OZ citizenship is OK) let me know, and you can compare it to see if it's worth re-thinking your registration choice.
__________________
Susan
www.MarineInsurance.cc
TabbyCat is offline   Reply With Quote
Old 02-11-2019, 00:23   #51
Moderator and Certifiable Refitter
 
Wotname's Avatar

Join Date: Jan 2008
Location: South of 43 S, Australia
Boat: C.L.O.D.
Posts: 15,951
Re: Insuring Aus registered boat

^^ thanks Susan, the insurance aspect is interesting, do you know what the insurance Act(s) is/are that stipulate this. I'm not doubting you, I would just like to read the Act(s) involved.

As for the overseas ownership, navigation and registration question, it is my understanding (perhaps wrong) that your suggestion contravenes the Aussie Shipping Act. Again, let me repeat - I might be wrong. Regardless, as others have stated, I think the government just doesn't care much what recreational boats do when they are away from our shores.
__________________
All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find it was vanity: but the dreamers of the day are dangereous men, for they may act their dreams with open eyes, to make it possible. T.E. Lawrence
Wotname is offline   Reply With Quote
Old 02-11-2019, 01:23   #52
Registered User

Join Date: Feb 2018
Posts: 42
Re: Insuring Aus registered boat

Quote:
Originally Posted by TabbyCat View Post
If you are an Australian Citizen with and Australian registered boat and an Australian mailing address, the only company that I know of that can quote is Pantaenius Australia. It's not the insurance companies deciding this, it's the protectionist insurance laws in Australia causing this.

If you'd like a quote on a UK registed boat that will not be navigating in Australia, and you have access to a non-Australian address (OZ citizenship is OK) let me know, and you can compare it to see if it's worth re-thinking your registration choice.


Topsail has covered me

Thanks
Pinto is offline   Reply With Quote
Old 02-11-2019, 01:28   #53
Registered User

Join Date: Feb 2018
Posts: 42
Re: Insuring Aus registered boat

Quote:
Originally Posted by TabbyCat View Post
If you are an Australian Citizen with and Australian registered boat and an Australian mailing address, the only company that I know of that can quote is Pantaenius Australia. It's not the insurance companies deciding this, it's the protectionist insurance laws in Australia causing this.

If you'd like a quote on a UK registed boat that will not be navigating in Australia, and you have access to a non-Australian address (OZ citizenship is OK) let me know, and you can compare it to see if it's worth re-thinking your registration choice.

Oh btw

It is Australian law that an Australian resident if owing a boat in a foreign county (for entering foreign ports) - the boat MUST be Australian registered

Anyone can ref. the law by going to the AMSA site.

“ . It is an offence for an Australian-owned vessel to sail to a foreign port unless it is registered on the Australian general shipping register.”

https://www.amsa.gov.au/vessels-oper...-fishing-boats
Pinto is offline   Reply With Quote
Old 02-11-2019, 16:01   #54
Marine Service Provider
 
TabbyCat's Avatar

Cruisers Forum Supporter

Join Date: Jul 2007
Location: still cruising after 15 years
Boat: MaineCat Catamaran 41'
Posts: 518
Images: 5
Send a message via Skype™ to TabbyCat
Re: Insuring Aus registered boat

Quote:
I would just like to read the Act(s) involved.
The website for the Australian legislation regarding Marine Insurance is https://www.legislation.gov.au/Details/C2008C00419 There doesn't appear to be anything there that prohibits companies outside Australia from writing coverage in Australia, but the policy wording would have to comply with all the provisions in the act, meaning that the Austrlian government would dictate the wording of the policy language rather than the insurance company writing the policy language. So probably not something most foreign insurer's are willing to do.
__________________
Susan
www.MarineInsurance.cc
TabbyCat is offline   Reply With Quote
Old 02-11-2019, 18:04   #55
Moderator and Certifiable Refitter
 
Wotname's Avatar

Join Date: Jan 2008
Location: South of 43 S, Australia
Boat: C.L.O.D.
Posts: 15,951
Re: Insuring Aus registered boat

^^ thanks Susan.
__________________
All men dream: but not equally. Those who dream by night in the dusty recesses of their minds wake in the day to find it was vanity: but the dreamers of the day are dangereous men, for they may act their dreams with open eyes, to make it possible. T.E. Lawrence
Wotname is offline   Reply With Quote
Old 02-11-2019, 18:32   #56
Registered User

Join Date: Oct 2011
Location: Canada
Boat: CT 56
Posts: 545
Images: 3
Send a message via Skype™ to undercutter
Re: Insuring Aus registered boat

Quote:
Originally Posted by Pinto View Post
Topsail has covered me

Thanks

Because you do not want to pay Pantaenius prices for coverage outside of OZ. They were great for OZ but increased our Premium to over $10,000.00 as soon as we left Australian waters.


We dumped the comprehensive on the anniversary date and just kept the liability. Now we are back to a US company for comprehensive coverage.
undercutter is offline   Reply With Quote
Old 02-11-2019, 19:19   #57
Registered User

Join Date: Feb 2018
Posts: 42
Re: Insuring Aus registered boat

Quote:
Originally Posted by undercutter View Post
Because you do not want to pay Pantaenius prices for coverage outside of OZ. They were great for OZ but increased our Premium to over $10,000.00 as soon as we left Australian waters.


We dumped the comprehensive on the anniversary date and just kept the liability. Now we are back to a US company for comprehensive coverage.


It wasn’t price in the end. topsail made sense, were easy to deal with and the people on the end knew about boating and cruising where I wanted to go

They were nowhere near the cheapest
Pinto is offline   Reply With Quote
Old 02-11-2019, 20:35   #58
Registered User
 
Simi 60's Avatar

Join Date: Jun 2016
Location: Australia
Boat: Milkraft 60 ex trawler
Posts: 4,059
Re: Insuring Aus registered boat

I got quotes from several overseas companies for our vessel and they would do it but the big problem for all was the $10million in liability coverage required for Oz marinas and yards.

Without that the policy was worthless to me.
Simi 60 is online now   Reply With Quote
Old 02-11-2019, 21:08   #59
Registered User

Join Date: Jul 2005
Location: Bellingham
Boat: Outbound 44
Posts: 9,314
Re: Insuring Aus registered boat

Quote:
Originally Posted by Simi 60 View Post
I got quotes from several overseas companies for our vessel and they would do it but the big problem for all was the $10million in liability coverage required for Oz marinas and yards.

Without that the policy was worthless to me.
When we were in Australia we had a US based comprehensive insurance plus a serparate Australian liability policy to get to the 10 mil. I think the liability cost about aud500 with Nautilus.
Paul L is offline   Reply With Quote
Old 02-11-2019, 21:12   #60
Registered User

Join Date: Oct 2011
Location: Canada
Boat: CT 56
Posts: 545
Images: 3
Send a message via Skype™ to undercutter
Re: Insuring Aus registered boat

Quote:
Originally Posted by Paul L View Post
When we were in Australia we had a US based comprehensive insurance plus a serparate Australian liability policy to get to the 10 mil. I think the liability cost about aud500 with Nautilus.

This is what we did as well when we first got to Oz and then we switched back to this option when we left as the Oz companies are cheap for the Liability. They do not seem to have a problem with the Liability for offshore just the comprehensive is crazy and usually with so many restrictions it is worthless anyway.
undercutter is offline   Reply With Quote
Reply

Tags
boat

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Insuring a Salvage Boat During repairs MrDiesel Flotsam & Sailing Miscellany 7 25-11-2018 14:47
Crew Available: 26-y.o. Aus guy wanting crew position out of AUS April onwards brodie88 Crew Archives 2 03-02-2014 06:41
Insuring Boat When on the Hard Kojiro Dollars & Cents 7 26-10-2011 12:26
Insuring a Boat on a Mooring twistedtree Dollars & Cents 6 09-10-2010 09:13
Insuring and on older boat dbillingsly Boat Ownership & Making a Living 15 13-01-2008 18:30

Advertise Here


All times are GMT -7. The time now is 14:29.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.