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Insurance (valuables)
Dominic Warren
Posted: Saturday, November 26, 2011 3:01 PM
Joined: 26/07/2008
Posts: 4


I am trying to insure some personal valuables with some sort of standalone policy. Usual stuff: laptops, phone, watch, etc. I am running into some walls currently because all the insurers I have spoken to in the UK have issues with the fact I am away from the UK for 10 months a year. Contents insurance will only do a limited period away so that's no good either. Has anyone got any suggestions for where I can look/who to speak to/what they themselves have done? Cheers, Dominic
John Doe
Posted: Saturday, November 26, 2011 3:41 PM
Joined: 13/10/2008
Posts: 70


Start your own personal insurance. Open a separate bank account, one you won't touch, and make a reasonable payment to yourself every month. Don't give your hard earned money away to some greedy insurance company for insurances that are not required. 30.00 a month will add up quickly and you should have enough money to replace stolen items in no time. In this industry it is quit rare when things go missing anyway. Just be more vigilant in airports and public transportation. In Five years you will have a pocket full of cash, not the insurance company. If you really want to protect your assets protect your ass. Get good Global Medical/Emergency Health insurance.
Captain Andy
Posted: Saturday, November 26, 2011 4:23 PM
Joined: 17/09/2008
Posts: 93


Speak to the Captain as some yacht insurance policies do have cover for crew personal belongings. Nowadays to reduce hull policy costs, these warranties are be dropped to reduced overall costs. If you desparately want insurance speak directly to one of the large yacht insurance companies - but expect to pay a tidy sum for it! On a positive note, I've been yachting for nearly 15 years and haven't lost any items ...... so to create a bank account to self insure seems a pretty good idea to me!
Dominic Warren
Posted: Saturday, November 26, 2011 4:57 PM
Joined: 26/07/2008
Posts: 4


Hi chaps, thanks for the replies/ JohnDoe: Yes good idea, and in fact one I do anyway, but the thing is if something happens within the period it takes for me to save up the approx. value of my watch say then it doesn't do me any real favours. Captain Andy: It's not so much on the boat really (except maybe for laptops falling out of bunks or phones trying to escape by jumping into the sea) it's more for off the boat, e.g. getting mugged and having your phone, watch etc taken from you. Which yacht insurance companies did you have mind?
Captain Andy
Posted: Saturday, November 26, 2011 5:37 PM
Joined: 17/09/2008
Posts: 93


Your best bet is to try Pantaenius: this is where the majority of the 'white' fleet are insured .... so they might be able to help!
Henning
Posted: Wednesday, November 30, 2011 3:20 AM
Joined: 01/06/2008
Posts: 1053


Really the most efficient way I see to do it is buy the third party cover from the retailers when you buy your stuff. Caveat Emptor, not all third party warranties pay the same. I don't know about the UK, but most states in the US you can get extra cover through homeowners, renters or even auto insurers for coverage on your personal belongings when you travel (mine is covered through my Aircraft policy). It's basically an addendum to an existing policy for a small extra premium; then there are 'Travel Insurance' policies, again, C.E. applies. Again, this is all US, sorry, not familiar with UK products but I suspect similar.

Rusty Wrench
Posted: Wednesday, November 30, 2011 5:45 AM
Joined: 21/09/2010
Posts: 207


Insurance companies are not in business to provide insurance.

They are in business to produce profits and deny benefit to policy holders.

 

 


Ash
Posted: Wednesday, November 30, 2011 10:24 PM
Joined: 08/10/2010
Posts: 1


I hate to digress off topic but I'm just wondering what suggestions any of you have, regarding world-wide medical cover. My employer recently reduced their cover to only cover us when we're working for the vessel, and in transit to/from our 'home port' when on leave. In fact I think they may have removed that last part too - not sure. In any case, in my late thirties I reckon it might be a good time to get my own medical/life cover, whilst I'm still free of any known conditions/injuries. But I am a long way away from settling down into any one "home" country - I have nowhere I call home. I'd also want an insurer which I can "take" with me when I do settle down in some country. Any ideas?
Richard Felipes
Posted: Thursday, December 1, 2011 4:14 PM
Joined: 01/12/2011
Posts: 1


Hi Ash

I am very happy to assist you with any consultation on insurance. I have to agree though with the comments made by some of the members re: "some insurance providers..!!",  even though I am in the " dreaded industry " ...oops. But I would like to think I am in it with a difference. I have been in boats all my life. I understand boat ownership and I have been skippering and crewing for 30 years ( not professionally). I have over the years elected to work with the best underwriters and we have tried and tested solutions. I am fortunate to have a quality portfolio of all size vessels from Super Yachts downwards and my priority is sitting on every claim received by our company.  We do a very thorough 24/7 crew medical, travel Policy. With regards to a stand alone Policy for personal belongings, very difficult indeed. It is best to include as all risk items with your home insurance.


John Doe
Posted: Thursday, December 1, 2011 4:45 PM
Joined: 13/10/2008
Posts: 70


You will unfortunately never know how good your policy or company is until it is time to make a claim.
MHG Mark B
Posted: Friday, December 2, 2011 5:12 PM
Joined: 01/05/2008
Posts: 14


Dear Dominic, At MHG, we are asked this question quite regularly about cover for personal belongings. Unless your belongings are worth a significant sum, say $10,000 or more, you are well to follow the advice of simply putting an amount away each month in your own account. Insurers are not interested in offering cover for lost iphones and laptops, too much risk of fraud among other reasons. if you have a home, tie it to your homeowner's insurance.
MHG Mark B
Posted: Friday, December 2, 2011 5:15 PM
Joined: 01/05/2008
Posts: 14


Dear Ash, Happy to help you with a health insurance policy, we can discuss with you a variety of options from several carriers, so we can find what is best for your needs. 954 828-1819, ask for me or my colleague JW and we will be glad to help. Cheers!
adrianstone80
Posted: Wednesday, December 7, 2011 4:32 PM
Joined: 07/12/2011
Posts: 1


If you have done any insurance previously then I think you should withdraw it but you can try with a property insurance.Best of luck with that.


http://www.quotes-center.com/landlord-property-insurance

 
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