Thanks Michael for you input.
Update: after protracted communications with Pantaenius, I have secured a slight reduction in my premium, plus the ability to launch later this season if the lockdown restrictions are lifted.
insurance companies hey!

Stay safe everyone
Brian 😷😷

+x

 

bwallace - 4/24/2020

Yacht Insurance/Laid up
Because of this terrible Pandemic and lock down, we are not afloat. We were due to fly out to Greece at the end of March, and the annual insurance was renewed on 20th March 2020.
There then came the lock down and cancelled flights on 22nd March. Darramy remains laid up ashore. I am sure many of us are in the same situation. The insurance was paid, and immediately after the notice of the lock down, I approached my Insurance Company (Pantaenius) for either a credit or rebate on the premium. Guess what? The answer was negative unless I could guarantee the vessel would not be launched at all this year. We would like to launch when it is safe to do so, but no one has an idea when that would be. We are now over 1 month into the lock down and no end in sight.
A leading motor insurer in the UK is giving a small rebate to all policy holders as they have recognised that there is less usage in general so their risk is lower.
There has been a large increase in marine premiums over the past few years.
Surely marine insurance is similar to motor insurance in regard to risk. Less or no use or our vessels at all. The risk Pantaenius has with me, and many other policy holders whose boat is laid up ashore is far less than when they are afloat. We can’t sink or run aground etc. This may apply vessels in a marina, who are not allowed to move because of different counties lock down rules could be a lower risk?
My suggestion is that you lobby your insurance provider for a lower premium because of the reduced risk. Most companies are quick enough to increase the premium if you move out of your cruising area, or request an extra.
I know there are many companies offering Marine Insurance, many members seem to favour either Pantaenius or Topsail.
Whoever your insurance provider is, try not to be caught out as we have been by this drastic change in circumstances.
Whilst we should not withhold our premiums, a lobby from all cruising bodies to marine insurance companies and publicity from the yachting press, and other representatives of cruising world, RYA , OCC, Cruising Associations etc could make us a difference as to how much we are charged.
Stay Safe
Brian and Sue
S/V Darramy

Hi Brian and Sue,
I was in the Caribbean (Dominica) when the virus starting causing islands to close their borders and I chose Antigua to lay up which seemed the best option even though it is in the hurricane zone and not part of my original plan to haul out there. 
I notified Topsail who notified the actual Insurers, Concept Special Risks which is an American company and I got a rebate of $229 for the remaining period of insurance which runs out on the 11th July.
I ditched Pantaenius a couple of years ago. I think they are being most unfair to you.
Martin Smith S/V Chardonnay of Solent

Yacht Insurance/Laid up
Because of this terrible Pandemic and lock down, we are not afloat. We were due to fly out to Greece at the end of March, and the annual insurance was renewed on 20th March 2020.
There then came the lock down and cancelled flights on 22nd March. Darramy remains laid up ashore. I am sure many of us are in the same situation. The insurance was paid, and immediately after the notice of the lock down, I approached my Insurance Company (Pantaenius) for either a credit or rebate on the premium. Guess what? The answer was negative unless I could guarantee the vessel would not be launched at all this year. We would like to launch when it is safe to do so, but no one has an idea when that would be. We are now over 1 month into the lock down and no end in sight.
A leading motor insurer in the UK is giving a small rebate to all policy holders as they have recognised that there is less usage in general so their risk is lower.
There has been a large increase in marine premiums over the past few years.
Surely marine insurance is similar to motor insurance in regard to risk. Less or no use or our vessels at all. The risk Pantaenius has with me, and many other policy holders whose boat is laid up ashore is far less than when they are afloat. We can’t sink or run aground etc. This may apply vessels in a marina, who are not allowed to move because of different counties lock down rules could be a lower risk?
My suggestion is that you lobby your insurance provider for a lower premium because of the reduced risk. Most companies are quick enough to increase the premium if you move out of your cruising area, or request an extra.
I know there are many companies offering Marine Insurance, many members seem to favour either Pantaenius or Topsail.
Whoever your insurance provider is, try not to be caught out as we have been by this drastic change in circumstances.
Whilst we should not withhold our premiums, a lobby from all cruising bodies to marine insurance companies and publicity from the yachting press, and other representatives of cruising world, RYA , OCC, Cruising Associations etc could make us a difference as to how much we are charged.
Stay Safe
Brian and Sue
S/V Darramy