Boat Insurance - Are you fully insured?

[bootyinblue]

Have just received my power boat insurance renewal and thought I might have a quick flip through the 102 page PDS.

Got to an interesting section where they are talking about if you boat is damaged and they are going to repair it and it goes on to say that if your boat is over 2 years old then they ask for a contribution to help cover the costs, and this is on top of your excess.

The example they use in the book is a damaged outboard leg and drive shaft on a motor that is 25% through its working life based on age and wear and tear. The company will foot 75% of the cost of the new part and you are expected to pay the 25%.

Is it just me, or does that sound a little bit wrong, considering say the motor is 75% through its life then you will be up for 3/4 of the repair cost even though you are 'fully insured'.

Think it could be time to switch from Suncorp.

[noname]

bring on shannons

[Feral]

Suncorp are the same with their car policies, IE damage a radiator, and they will only prorata the new part. They even tried it on for paint on a mates car, but that was nearly 20 years ago!