วันพุธที่ 19 สิงหาคม พ.ศ. 2552

Why buying the boat of your dreams is not all plain sailing

A spot of snorkelling in a secluded cove with no tour guide to hurry you along, cruising the coast to look for dolphins when the fancy takes you or simply bouncing along the waves at high speed - yes, owning a boat can bring many pleasures.

But they come at a price. If you're considering buying a craft, whether a one-man canoe or luxury cruiser, it's vital to consider all the costs. Depending on the scale of your ambition, it can set you back as much as a car or a house.

Aside from the boat itself, there are running expenses such as mooring fees, winter storage, maintenance and insurance - and you must account for the accidents that can happen at sea.

"As a rule of thumb, running costs are about 10% of the purchase price for mid-range boats of around 36ft long," says Stuart Carruthers, cruising manager of the Royal Yachting Association.

"Some, such as motor boats, will cost much more as the price of fuel has risen significantly since November."

Where to buy
If you are keen to start researching a potential purchase, Boatshed.com and ybw.com (Yachting & Boating World) detail secondhand boats for sale. You could use them as a starting point to check whether the price demanded by another seller, say, resembles that of similar models on the site.

Another option is online auction site eBay, which tends to have small boats at competitive prices.

Check the state of the boat before payment. For yachts, you should enlist a marine surveyor to report on its condition. "Don't pay anything to anybody until this is done, even a deposit - and make sure to get a competent surveyor who has indemnity insurance so that if they tell you a pack of lies you've got somebody to sue," says Carruthers.

"Also check they are a member of a recognised organisation such as the International Institute of Marine Surveying (IIMS) or the Yacht Brokers, Designers and Surveyors Association (YBDSA)."

For smaller boats - dinghies - just research whether you're paying the right price given the condition.

Keeping things covered
Before taking to the waves, check safety equipment. And in case you do get into trouble on the water, make sure your marine insurance is sufficient to cover damage to the boat and any other costs arising from an accident.

You should also check on the amount you can claim, should your boat end up in a watery grave.

Boat insurance is not compulsory, but most marinas and harbour authorities insist on third-party insurance, as does British Waterways, which controls most of the rivers and lakes in the UK.

This form of insurance predates all other types of cover, and policies vary in detail and price, which can make comparison tricky. Also, prices will vary widely depending on whether you intend to race or simply cruise along.

It pays to do research and decide on your priorities. Boat owner Damian King, 30, realised the value of his insurance cover when his boat was taken for a joyride by some drunken revellers off Brighton beach this month.

"My laser dinghy was left washing up all night," he says, "with bits strewn across the beach and out to sea - it took a bit of a pounding and I lost quite a few items that were stored in the boat."

However, the science teacher is content with his insurer Noble Marine, which provides "new for old" cover. "I always thought I'd need to replace something on the boat, from damaging it through racing, but I never thought that it would be as a result of an incident like this."

He is claiming on his policy for repair of the boat and the lost items, including spars and sheets. The comprehensive cover costs £130 a year.

Finding insurance
If you want to find out if you are paying the going rate for insurance, you might want to check the websites that give you an instant quote. Craftinsure.com and Covermyboat.co.uk are two such sites.

GJW is the UK's largest direct boat insurer and publishes the full policy document on its website, so you can see exactly what you're covered for, as does Noble Marine.

Always check what is included because, for example, medical expenses are not a feature of every policy.

Top 10 boat insurance claims

Sailing is one of the favourite past times of the over 50's with this age group accounting for over 41% of boat owners in the UK. Contrary to popular belief, theft is not the biggest risk faced by boat-owners according to claims statistics from Saga Boat Insurance.

In fact boat-owners over 50 are now 19% more likely to hit a submerged object, with the average collision claim amounting to £2,394.55. Boat owners can easily protect their vessel by being prepared for the area they are sailing in, having Marine charts on board and ideally having a sonar device fitted. Checking the latest weather and tides is also a must before you set off for your trip.

Theft is still the second most frequent claim of Saga customers with costs averaging £1,218 per claim, and with 15% of theft claims taking place when boats are moored. However, Saga statistics show that this is a 50% reduction on the previous years theft claims, demonstrating that boat owners over 50 have taken onboard advice about the importance of boat security during the current economic climate.

Saga suggests the following hints and tips to avoid being the victim of boat crime-

Don't leave anything loose in the cockpit or on deck

Remove valuable navigational equipment, wet weather gear and personal items

Make sure your curtains (if applicable) are closed so no-one can look in

Ensure that outboard motors, tenders and life rafts are secured to the main vessel with quality locks or chains

Ensure that unfastened equipment such as anchors and oars are secured by wire rope, or chains and locks.

Where relevant, fit a trailer lock to the hitch and a wheel clamp

Police reports also suggest that some items are currently extremely attractive to thieves such as bronze and copper, where the value has soared in recent years. Boats regularly have bronze items in open view such as bells, plaques and statues. Whilst it's not feasible to easily remove or store these items, trying to mask them from view may make the opportune thief look elsewhere for easier pickings.

The top ten frequent Boat Insurance claims are -

1 Striking a submerged object while cruising
2 Theft while moored
3 Collision while cruising
4 Storm damage while moored
5 Theft while laid up
6 Accidental damage while cruising
7 Flood whilst moored
8 Sinking whilst moored
9 Negligence of owner whilst cruising
10 Accidental damage whilst moored

Saga Boat Insurance reveals top ten claims

Saga Boat Insurance has unveiled the top ten reasons why owners of their own vessels claim on their policies.

The most common mishap for those with their own boats in the UK is hitting a submerged object during cruising. Close behind in second place is theft while the vessel is anchored.

Collisions with other boats is the third most common insurance claim cause, with storm damage and theft while in storage claiming the fourth and fifth slots.

Accidental damage mid-cruise and flooding and sinking while moored constitute sixth, seventh and eighth place respectively.

Owner negligence and accidental damage are the final reasons why insurance is claimed by boat owners, Saga highlights.

In July, Saga stated that thefts from boats are more likely to occur in the summer months rather than in winter time.

วันอังคารที่ 4 สิงหาคม พ.ศ. 2552

Seaworthy Launches Boat and Yacht Insurance Program


Seaworthy Insurance Co., which began in 1989 offering specialized boat insurance products to Boat Owners Association of The United States (BoatU.S), has launched a new line of commissionable boat insurance policies sold exclusively through insurance agents and brokers. Now a member of the Berkshire Hathaway Insurance Group, Seaworthy Insurance Co.'s new agent program offers four types of policies: pleasure boat, yacht, super yacht, and charter vessel.

Both pleasure boat and yacht policies are also available as liability only, and include wreck removal, salvage coverage, and fuel spill liability. Super yacht policies include coverage for crew, tenders, and offer broad cruising limits including the Mediterranean, Caribbean, Panama Canal and the Pacific. Charter policies are available on both "Six-Pack" and inspected vessels, and offer valuable coverage options including a low electronics deductible and coverage for the loss of a charter booking.

All Seaworthy policies offer hurricane preparation coverage that pays 50 percent of the cost to haul or move a vessel out of harm's way.

The Seaworthy Web-based rating and quote system has a single screen to allow agents to obtain a quick quote for their customers. Agents can then e-mail the quote, print applications and binders as well as review client billing, account information and claims status.

Top 10 boat insurance claims

Sailing is one of the favourite past times of the over 50's with this age group accounting for over 41% of boat owners in the UK. Contrary to popular belief, theft is not the biggest risk faced by boat-owners according to claims statistics from Saga Boat Insurance.

In fact boat-owners over 50 are now 19% more likely to hit a submerged object, with the average collision claim amounting to £2,394.55. Boat owners can easily protect their vessel by being prepared for the area they are sailing in, having Marine charts on board and ideally having a sonar device fitted. Checking the latest weather and tides is also a must before you set off for your trip.

Theft is still the second most frequent claim of Saga customers with costs averaging £1,218 per claim, and with 15% of theft claims taking place when boats are moored. However, Saga statistics show that this is a 50% reduction on the previous years theft claims, demonstrating that boat owners over 50 have taken onboard advice about the importance of boat security during the current economic climate.

Saga suggests the following hints and tips to avoid being the victim of boat crime-

Don't leave anything loose in the cockpit or on deck

Remove valuable navigational equipment, wet weather gear and personal items

Make sure your curtains (if applicable) are closed so no-one can look in

Ensure that outboard motors, tenders and life rafts are secured to the main vessel with quality locks or chains

Ensure that unfastened equipment such as anchors and oars are secured by wire rope, or chains and locks.

Where relevant, fit a trailer lock to the hitch and a wheel clamp

Police reports also suggest that some items are currently extremely attractive to thieves such as bronze and copper, where the value has soared in recent years. Boats regularly have bronze items in open view such as bells, plaques and statues. Whilst it's not feasible to easily remove or store these items, trying to mask them from view may make the opportune thief look elsewhere for easier pickings.

The top ten frequent Boat Insurance claims are -

1 Striking a submerged object while cruising
2 Theft while moored
3 Collision while cruising
4 Storm damage while moored
5 Theft while laid up
6 Accidental damage while cruising
7 Flood whilst moored
8 Sinking whilst moored
9 Negligence of owner whilst cruising
10 Accidental damage whilst moored