Ribeye & Resources

 

 

  RIBEYE MARINE INSURANCE

 

Need Insurance for your Ribeye?   “Ribeye Insurance” has the answer.

As a Ribeye owner you may ask yourself: “Which is the best insurance policy for my Ribeye?”

 

The answer is the one that covers you for what you need and to the monetary extent you need to recover should you have a claim. There are many questions to ask when looking for the right policy, here are a few to bear in mind.

 

A “Third Party Only policy”, you will get a cheaper price than an “All Risks” policy. However, if you cause a collision, the other boat will be covered for the damage, but repairs to damage to your RIB will be at your own expense, as will losses such as theft or fire.

 

If you have an agreed value policy of £20,000 and you have a total loss a few years later, say through theft, sinking or fire, the claim will be paid £20,000. However, if you took a market value policy and have a claim after a couple of years of owning the vessel, you may find a reduction in the payout depending on what the insurer sees as reasonable depreciation. Are you happy to let the underwriters to decide how much your boat is now worth? Always check.

 

You also need to check if you are covered if you are doing any light commercial use, e.g. as a dive boat. It might seem innocuous, but if your policy is for pleasure use only, one trip out into the bay for a small reward might invalidate the policy, and it may not have cost much more to include anyway.

 

Finally, if you have an outboard motor. Check that underwater machinery damage is covered. Check this at each renewal as sometimes age of your motor will affect whether it is covered. If it isn’t, it may be possible to add it back in at an increased premium or by taking a higher excess.

 

If all this seems like too much hassle to phone around and explain your exact requirements each time, let “Ribeye Insurance” do it for you.

 

A policy has been negotiated between “Ribeye” and one of the leading marine Brokers “Porthcawl Insurance Consultants Ltd”, which can be adapted to cover your Ribeye Insurance needs, ask Ribeye or your agent to obtain a quote for you through

 

It would be helpful if you could complete the Fact Find form and send it back to Porthcawl Insurance so that they can assess your needs. CLICK HERE FOR FORM

 

 

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