I think we've been here before.
I wonder how long it will take them to realise that everyone has Techniums or Basiair reels and Hi S rods once the claims come flooding in?
I wonder how long it will take them to realise that everyone has Techniums or Basiair reels and Hi S rods once the claims come flooding in?
Working in the industry I can safely say that dedicated tackle insurance has had a limited shelf life for the reasons you have highlighted.
Premiums are relatively cheap and claims are high so the book quickly "burns" into non-profitable margins. Plus, claims are difficult, no longer will they accept a photo of your bankside set up or reels/alarms photo'd at home as evidence of ownership and you must have an original purchase receipt. Plus with the second hand market for tackle so vibrant you often get people trying to claim for a new set of Basias at £1,500 that actually cost them a lot less....so very difficult. Of the few markets offering bespoke tackle insurance they require to to lodge all receipts at the time of purchase rather then producing after the event.
Then there is the claims....robbed on the bank, often excluded as you were asleep, (unless you pay additional premiums), robbed out of your car, often excluded, robbed out of your shed/garage, often limited.
My advice, get a good home policy with a reputable insurer, including personal possessions away from home and you will cover off at least as many scenarios as you would with a dedicated tackle insurer.
Premiums are relatively cheap and claims are high so the book quickly "burns" into non-profitable margins. Plus, claims are difficult, no longer will they accept a photo of your bankside set up or reels/alarms photo'd at home as evidence of ownership and you must have an original purchase receipt. Plus with the second hand market for tackle so vibrant you often get people trying to claim for a new set of Basias at £1,500 that actually cost them a lot less....so very difficult. Of the few markets offering bespoke tackle insurance they require to to lodge all receipts at the time of purchase rather then producing after the event.
Then there is the claims....robbed on the bank, often excluded as you were asleep, (unless you pay additional premiums), robbed out of your car, often excluded, robbed out of your shed/garage, often limited.
My advice, get a good home policy with a reputable insurer, including personal possessions away from home and you will cover off at least as many scenarios as you would with a dedicated tackle insurer.
In reply to Post #2
My home insurance covers my garage,paid a bit extra,hope that is sufficient.
My home insurance covers my garage,paid a bit extra,hope that is sufficient.
Can anyone recommend a home insurance company to use .. I've used m&s home insurance for years with contents away from home policy on it .but m&s are stopping there home insurance as from next month so I'm on lookout for a new policy ..
In reply to Post #4
Churchill offer two premium options. Their standard is up to £5k for items temporarily away from home. Their plus cover is up to £10k.
Churchill offer two premium options. Their standard is up to £5k for items temporarily away from home. Their plus cover is up to £10k.
In reply to Post #5
You really always have to read the policy.
I used LV.
Alot of home insurance only cover a garage or shed/outbuildings for up to £2000.
Even if it's an integrated garage.
You really always have to read the policy.
I used LV.
Alot of home insurance only cover a garage or shed/outbuildings for up to £2000.
Even if it's an integrated garage.
I remember talking to someone who worked at Korda when they stopped their tackle insurance.
He basically said that so many people defrauded the scheme that they had to raise the premiums to the point where it was uneconomical for anyone honest to buy it.
Which is a pretty depressing statement about our hobby
He basically said that so many people defrauded the scheme that they had to raise the premiums to the point where it was uneconomical for anyone honest to buy it.
Which is a pretty depressing statement about our hobby
In reply to Post #7
There have been numerous attempts over the years to provide an angling specific insurance scheme. All have failed for the same reason - 'anglers' seem to think they can defraud the system and get away with it.
As you say - a sad indictment of anglers in general.
There have been numerous attempts over the years to provide an angling specific insurance scheme. All have failed for the same reason - 'anglers' seem to think they can defraud the system and get away with it.
As you say - a sad indictment of anglers in general.