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Thread: Insurance

  1. #1

    Red face Insurance



    anyone any recommendations on insuring canoe gear and the stuff you carry (tipi, camera, etc) when on a trip. do you rely on house content insurance (and if so have you claimed against it) or do you have specialist insurance?

    me i've resisted even house insurance up till now thats the way I like it taking my own risk and responsibility everyone else thinks i am mad and should jump into the insurance market - thoughts?

    this shouldve been a monday morning topic but having just had someone else tell me I need insurance I'm supposed to start finding out about it ASAP......

    all in my gear must be worth about 5 grand

  2. #2
    Join Date
    Dec 2005
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    Nr Rochester in Kent
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    Our household insurance would not cover our canoe and gear, so we had to add an extra onto it. I figured it was pretty easy to nick as it is sitting on top of the car unattended sometimes, and pretty easy to damage in use, and thought insurance was a good idea. It cost about £50 for £1500 of canoe and gear.

    It does depend whether you believe in insurance or not. We've found over the years that household insurance is generally pretty good, as they have paid out with no hassle on some pretty major claims.

    Mind you, I live in the busy south east. I guess if you're out in the more remote parts of Scotland you might take a different view.
    Matto

    Ours was the marsh country, down by the river, within, as the river wound, twenty miles of the sea.


  3. #3
    Join Date
    Nov 2005
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    Lochwinnoch, Scotland
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    I'll need to check. I know I am covered for my camera gear when out and about but have not considered the canoe.

  4. #4
    Join Date
    Dec 2005
    Location
    South East - Chessington
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    There is a company (Brown's) that advertises specialist canoe & kayak insurance through the BCU. Its also potentially worth thinking about public liability insurance - something that I believe the BCU covers as part of its membership fee. I guess a loaded canoe careering downstream could hurt/cause a fair bit of damage.

    Obviously once you've paid out for all of this there is no money left to go boating, which removes the insurance risk.....

    Rich

  5. #5
    Join Date
    Dec 2005
    Location
    Peak District
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    431

    Default Insurance

    Remember that your third party insurance from the BCU covers you if you drop your boat on a friends car. 30Kg onto a bonnet or boot = damage that costs a lot. All inclusive with membership.

    PB

  6. #6
    Join Date
    Dec 2005
    Location
    Northern Ireland
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    255

    Default Insurance

    Try Snowcard http://www.snowcard.co.uk/

    I've used them on my last two trips and plan to use them again this year for Alaska.
    Pete

  7. #7
    Join Date
    Dec 2005
    Location
    ~Kirkintolloch, Glasgow
    Posts
    810

    Default True Risks?

    Quote Originally Posted by Matto
    It does depend whether you believe in insurance or not. We've found over the years that household insurance is generally pretty good, as they have paid out with no hassle on some pretty major claims.
    Just to say that House Insurance is a very long tail risk, that is, the magnitude of the big costs are very large but very very infrequent, hence the house insurer's see the minor claims as just that - 'minor'. [e.g. broken window, burst pipe, etc.]
    The big cost is for the 75% destruction of property, long wrangle before site clearance, complete rebuild, putting you up in accomodation all the while....

    It actually happened to a pal (He is on one of the trip photos!). He had the downstair flat of a large house. The upstairs flat owner had a loft fire, and had limited/no insurance. House had a tarp & scafolding roof for 9 months. Pal was in (paid for) rented accomodation for those 9 months. So for house insurance it is almost a mutual fund.

    Car insurance on the other hand... Most people will suffer a significant incident at least once on a life-time, so you are paying to smooth out the cost, plus a small(?) fee to the administrators, and another fee for those who cheat(!).

    So add it to the house insurance if you can. Always ask around.

    Philip

  8. #8
    Join Date
    Dec 2005
    Location
    between Kinross and Alloa, Scotland
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    Hi, I'm Tenboats' banker, tandem partner, fellow paddler and wife! He suggested I write re my experiences re insuring our canoes/kayaks. Its lengthy but hope it helps.

    House Insurance - many companies will not cover boats/water-craft of any type. Cornhill, our present insurers, will and quite cheaply about £24 for £3,000 worth of boat and kit. However the cover is very basic e.g. your gear is only covered whilst locked in storage or in transit on trailer/roof rack. They will not cover it in use except for 3rd party damage to others and will not cover it if left unattended even if locked to a trailer or roof rack (this includes motorway services whilst going in for a loo stop/meal or on campsite whilst having a shower). Also beware the clause re contents of garages and outbuildings. Many insurers only cover up to £1000 contents. Cornhill cover garages up to £7500 and this does not include the canoes which they insure separately. Household insurance also expects that damage in transit (to your own boats and 3rd parties) will be covered by your car insurance and this may not be the case at all.

    N W Brown Insurance through BCU. Much more comprehensive but complicated and expensive! They only insure boats under 5 years old and insure different types of canoe/kayak at different rates dependent on their use (flat or white water). They give 10% discount to BCU members and 15% discount for multiple boats insured. They do a)New For Old and b)Standard cover (takes depreciation into account about 10% per year) with a choice of 1)Full or 2)3rd Party Fire and Theft for each type of cover. Full = Fire and Theft, in use, in transit and 3rd party liability for £1,000,000. 3rd Party Fire and Theft does not cover anything other than 3rd Party or Fire and Theft claims i.e. no damage of any type either in use or in transit is covered. They will insure for competition but at a higher rate. Kayaks on roof racks cost more to insure than canoes as they are more stealable - you pay an extra 3% of the value of the kayak. Note - 3rd party cover in transit also assumes that the car insurance will cover this eventuality and it may not - check your car insurance. We were quoted £684 for Full Cover New For Old, £504 for Full cover Standard , £159 for 3rd Party Fire and Theft New For Old and £80 for 3rd Party Fire and Theft Standard for our fleet of 10 boats (mix of solo flat and white water canoes, tandem canoes, kayak and sea kayak).

    At the rate we are being charged we could afford a new boat every year for the money so why insure them except for the total loss of everything i.e. fire or theft from storage. In use you can only paddle one boat at a time each so the likelihood of all our boats being damaged at the same time will not apply but that is what you end up paying for. We would be happy not to have cover for 'in use' loss or damage as that is the risk you take when canoeing but we do want cover for 3rd Party and things beyond our control like Fire (in storage and campsite etc), Theft (in storage, roof rack or trailer or locked to a tree/post etc) with limited damage cover for things like vandalism, damage in transit by a third party (who isn't caught). Our enquiries show you can't get this limited damage cover - its all or nothing.

    If anyone has any further information we'd be grateful as at present we aren't insured at all.
    If it wasn't for the rain in our lives there would be no rivers. X 2

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