With over 20 years’ experience of delivering insurance protection to owners of classic yachts and boats, specialist marine insurance brokers Insurance Risk & Claims Management Ltd (IRCM) are able to offer you an holistic Classic Yacht Insurance solution that includes:
Agreed-value sum insured
It’s important you are happy with the value for which your classic yacht is insured as well as the basis of that cover. IRCM’s agreed-value policy means you receive the full insured value of your vessel in the event of a total loss; there’s no vague “up to the sum insured” clause with which adjusters can try to reduce your settlement – you get paid what is says on your schedule of cover.
Sensible premiums & policy excesses
The worldwide insurance markets have reported heavy claims losses leading to the costs involved in their re-insurance costing more and/or being restricted in the amount of risk they can take on. The Marine sector has been affected by this too. Marine Insurance premiums have risen steadily over the past three years as a result of massive insurance losses in the Marine Sector including for the usually stable insurance area for classic yachts and boats which have not been spared those increases. Some insurers are warning of hefty year-on-year increases whilst other insurers are withdrawing from this specialist segment altogether. There doesn’t appear to be any sign of the so-called “Hard Market” softening any time soon. IRCM remain committed to finding sensible insurance premiums with commensurate policy excesses that will give you the best protection for your vessel.
Racing Risks Cover if required
You can access full Racing Risk cover options for your classic craft through IRCM and with our flexible approach to cruising limits we can incorporate participation at most classic regattas into your insurance.
Charter Cover options available
Want to charter-out your classic yacht or boat? We are able to offer charter insurance options to you and your vessel.
In-house claims support
Because our claims support is not outsourced to an external claims-handling agency, IRCM are able to liaise directly with the insurer and, in many cases, through our network of classic yacht & boat builders, with the yard conducting your repairs. This helps smooth the claims process and speed-up your settlement.
To find out more about IRCM’s Classic Yacht & Boat Insurance offering, or to source a no-obligation quotation for your classic vessel, simply email us at email@example.com or telephone us on 01902 796793.
Remember, IRCM are not on any Boat Insurance comparison sites and access to our exclusive Classic Yacht & Boat Insurance Rates is solely through our head office.
Insurance Risk & Claims Management Ltd are fully authorised and regulated by the Financial Conduct Authority.