The testers obtained quotes for liability and hull insurance from 44 providers, for various types of boat. Naturally, the prices were compared, but also the conditions. The result is published in the current April issue of the magazine "Finanztest" (on newsstands tomorrow): a work of tables that is difficult to consume because of all the notes and footnotes.
And yet: the article reflects reality quite well. Hardly any other insurance product is as difficult to compare as water sports policies. This is primarily due to the fact that many brokers and intermediaries draw up their own terms and conditions. The result: sometimes the trailer is included in the insurance, sometimes not. Sometimes the regatta risk is covered, sometimes not. Sometimes the full sum insured is reimbursed in the event of a claim, sometimes not.
Any attempt to create something like transparency therefore runs the risk of comparing apples with pears. The testers at Stiftung Warentest have also realised this. They advise their readers: "But don't just look at the price" and list the most important extra services covered by each provider. The result is not surprising: "The favourable basic offer contains hardly any extras", according to the testers.
Another insight: Insurance cover is best obtained through specialised brokers. They offer policies tailored to the customer's needs and are often cheaper than the offers from the insurance companies themselves, with whom you could also sign a contract directly.
Incidentally, Bavaria Yachtversicherungen, HLP-Hanse, Neubacher Yachtversicherungen and Yachting24, the favourable online offshoot of Pantaenius, offered particularly inexpensive premiums for several boat models in the test.
However, the comparison also shows that the so-called fixed premium, i.e. the promise to actually pay out the full sum insured in the event of a total loss regardless of the age of the ship and the term of the policy, only deserves its name with four of the 44 providers: Firmenich, Hamburger Yacht-Versicherung (Schomacker), Neubacher and Pantaenius. With all the others, there is a risk of deductions from the sum insured in the event of a claim!
If you want to get comprehensive information about boat insurance and find out which policies really make sense for you and which don't, you will find the answers to the most important questions in the YACHT online insurance guide. There is also the possibility to order a customised offer from around 30 boat insurance providers quickly and easily at the click of a mouse.
