Moody 33 Moody 33 - insurance

[James Byford]

Hello,
I'm in the process of purchasing a Moody 33. Currently undergoing survey (or at least trying to firm up a date as they're unusually busy apparently). However, my main issue is insurance. Trying to get a general quote at the moment, and most are coming back as a "Computer says No". I'm not sure why, but does anybody have any recommendations that I can try? I'm hoping to keep her on a swinging mooring in Chichester.
Thanks
James.

 

[Peter Wright]

Hi James,

Have you tried Newton Crum?

Yacht and Motorboat Insurance - Newton Crum

Comprehensive insurance for your Yacht & Motorboat from a company with a top claims reputation and excellent customer service.

www.newtoncrum.com

They are a well established yacht and dinghy insurance broker and I have always found them helpful in securing the best deal over the past 50 odd years that I have been insuring boats.

Apart from getting good deals, on the rare occasions that I have had to make a claim, they have handled everything in my best interest. I have never had to deal directly with the actual insurer.

Peter.

 

[James Byford]

Thanks Peter. I'll have a look. I'm finding some don't insure over 20 year old boats, some under 40 feet, some not in marinas.

 

[Peter Wright]

Thanks Peter. I'll have a look. I'm finding some don't insure over 20 year old boats, some under 40 feet, some not in marinas.

Hi James.

I would see it as a broker's job to find you an underwriter who will cover what you want. Wild Thyme was built in 1989 and my clinker sailing dighy in 1967. Both are insured through Newton Crum despite one being 3/4 of my age, only 14 foot long and covered to spend each summer on a swinging mooring.

Wild Thyme is over 40 foot and moored in a marina, but now past her 30th birthday.

Peter.

 

[Barry Voysey]

Hi James,

Have you tried Newton Crum?

Yacht and Motorboat Insurance - Newton Crum

Comprehensive insurance for your Yacht & Motorboat from a company with a top claims reputation and excellent customer service.

www.newtoncrum.com

They are a well established yacht and dinghy insurance broker and I have always found them helpful in securing the best deal over the past 50 odd years that I have been insuring boats.

Apart from getting good deals, on the rare occasions that I have had to make a claim, they have handled everything in my best interest. I have never had to deal directly with the actual insurer.

Peter.

Peter, I see you recommend the services of Newton Crumb, is your policy an agreed value one? My insurance with GJW is due for renewal and it has gone up 16% according to them as the insurance market has hardened. This time I thought I would at least have a look elsewhere. If anyone else has any recommends let me know. Thanks Barry

 

[Peter Wright]

Hi Barry,

Yes, our insurance policy is based on an agreed value. In my view. with this type of policy it's better to be generous in estimating the value in order to be sure to avoid "averaging" the industry term for reducing payments for claims if the insured property was undervalued.

Our policy will not renew until next March, so we have not heard of any great ramp in premium, but it won't surprise me if it does go up. In fact our premium hasn't increased since 2017, when there was a sizeable increase but, looking over the long term I see that it has increased 37% over the past 10 years - not far out of line with inflation. You should bear in mind that, in that period we have increased the value a bit and made a claim for a failed rudder quadrant.

Peter.

 

[Dick Hicks]

I've just renewed my M33 with GJW who were cheaper than the previous - Bishop Skinner.

 

[James Byford]

I went with Nobel Marine in the end. They seemed to have good reviews, and whilst I didn't have anything to compare to, the annual cost was in the ball park of what I expected to pay.

 

[Stuart Hulls]

What good timing. Just had Towergate renewal through letterbox today. Not impressed whatsoever. 10 per cent increase, or 30 quid.
Because of personal and government restrictions, or lockdown, and a non Covid death in our family, our yacht did an embarrassing eight nautical miles this year. Six under power and two sailing!
Would have thought a discount was in order?
Regards
Stuart.