Fellow Members I need your thoughts and Input please regards Insurance Cover.
Basically My Club has the basic ยฃ5,000,000 Public Liability Insurance In Line with the Local Council Requirements.
This Cover was arranged through "Stamp Insurance Brokers".
Members using "Fast Electric Boats" (some may describe them as Power Race Boats) were covered to sail such craft individually, BUT NOT in any aspect or form of "Racing". (2 "Fast Electrics Boats In the Water running in the same direction at high speed could possibly be perceived to be "Racing")
Due to discussions within the Club it was felt that the Term "Racing" should be Clarified with the Insurers, so duly contacted the Broker "Stamp Insurance Brokers".
The have decreed that "Racing" even includes "Wind Powered Sail
yachts
" and are not therefore covered by the "Policy" for
yachts
"Racing Events" as this comes under "Sporting Activiities" I pointed out to the "Broker" that I have 3 small Childrens style "Pond
yachts
" some 30cms length (12 Inches) and I was pretty much amazed that they state, "Under the Policy" even these harmless small
yachts
(as I see It) cannot be raced either.
I understand Insurers us "Blanket Words", but this leaves me feeling rather dazed.
So fellow boaters, whats your thoughts on all this?? what insurance companies have you used, or recommend ?
I have one Criteria...To Keep the Insurance Cost as Low as possible, our current policy is ยฃ64 per year for the Club members as a group. Our Membership fees are ยฃ10 per year. We have surplus Cash, and In the 18 months of being established I have purchased main equipment, ie; Large Gazebo, Gas Cooker, and other Equipment, so pretty much got all we need as a club.
Each Month I run a "Free Monthly Prize Draw" at no cost to the Club or members, thanks to my good contacts and supporters, with Prizes ranging from a couple of pounds up to ยฃ30.
So folks..Thoughts and Recommendations please ?? Thankyou VGMBC