Finn Insurance rates 2017

[GBR-61]

A number of BFA members have been shocked to find that their boat insurance premiums have almost doubled this year, for no apparent reason. We have written to the RYA to ask why their recommended insurance partner Bishops Skinner Marine has raised their charges so much and am awaiting a response. However, we have heard of some improved rates if you negotiate rates with Bishops Skinner, so be prepared to haggle and shop around. Doubling insurance rates is not going to help attract owners to the class and if across the board will put people of sailing in general, so ask your insurer to think again and rationalise their premium!

Update: I have spoken to Bishops Skinner / Bluefin and expressed the Association’s concern at the sudden price hike. They explained that their rates have been incresed by Underwriters as the reckon they have been paying out considerably more in claims then takings in premiums. However, they offered that BFA members who are also RYA members contact them by phone rather than applying online and they will ensure any renewals are no more than 30% more than the previous years policy. Unfortunately this does not include new policies.

In light of this it is in all member’s interests to keep insurance claims to a minimum, although often this is in the hands of the insurance companies assessors.

BFA Chairman

• This topic was modified 6 years, 11 months ago by GBR-61.

[Andrew Wylam]

I have just today received my Insurance Quote from BlueFinn it has just gone up from £200 a year to £400 has anyone else had this with their insurance?
I have had no claims and nothing has changed from last year!

Has anyone found a better insurer company for the Finn than Blue Finn Groupe?

Apparently, Blue Finn say in their quote: That they have regrouped The Insurers have released a New Dinghy Rating guide, with the Insurers re-grouping Dinghies into different rating groups. This has resulted in the premium increase from last year to £409.51 (including the optional legal expenses at £14.00).

Thanks

Andrew Wylam
Finn GBR22

I will try a phone call tomorrow and see if they are willing to do no more than 30% than last year as I am a member of the BFA and RYA see what they can do

[Andrew Wylam]

I have just had a requote today and with RYA membership as an existing client of Blue Finn/Bishop Skinner the revised price is now only 30% uplift on the old cost of last year’s 2016 this give a price of a revised premium of £260.23 (including the optional legal expenses at £9.50) to renew your 2017 marine policy. I was not happy to find out that my insurance had increased by 100% overnight and some people had insured their boats just two weeks before got their boats for the pre increases prices
If you wish to get the 30% max uplift you need to contact BlueFinn and request it you do not get it with the online tools even if they know you are a member of the RYA!
However, this is only for this year next to the year 2018 it will be the £400+any increases!
This takes it up to the same price quoted by GJW Direct I have a price of £254.00 Has anyone had experience with them?
Boat Insurance cost is not looking good for the Next few years!
I have asked John Heyes if the BFA can look at options to try and get a better price for BFA members and if we can get some sort of feedback as to how many claims we as a fleet have made over the last year 2016. I was told by Blue Finn as a class has been moved into a different group was this down to claims or risk assessment by someone at the insurance company I don’t see why we should have had a 100% uplift without some sort of reason been given.

Thanks
Andrew Wylam
GBR22

[Author]

Posts