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Spod
Posts: 13199
Spod
   Old Thread  #1000 14 Sept 2005 at 3.41pm  0  Login    Register
MODS – perhaps you could have a read through and make it sticky if you feel it will be of benefit.

The subject of insuring your fishing tackle is one of the most commonly raised subject on the Forum and gets diverse answers and opinions. Many users have grown frustrated at just what is and what isn’t covered under their policies. Basically there are 2 ways to insure your gear, via a specialist tackle insurer or via your household insurance.

The following is a guide as to what you should be looking for and also possible pit-falls and “grey areas” with both types of policy. It is not meant as a definitive guide as there are numerous insurers each with their own policy wordings however it will give a “broad brush” of what you should be looking for.

Household Cover

Starting with household insurance this is the cheapest way to cover your gear and if done correctly is pretty comprehensive. The core cover you would have to start with is contents cover for your normal household possessions. This would cover your tackle but only whilst in the confines of your home, you would have a small amount of cover whilst the tackle was in your car but nothing on the bank or in use.

Most insurers offer the optional extension of a personal belongings or personal possessions section. This is designed to extend the cover of your standard household policy out of the home and is normally written on a world-wide basis. You must specify an amount to be insured, the minimum is usually £2,000 and you will be covered for any loss or damage to your property whilst away from home. Obviously restrictions apply and the ones to be wary of are:

Theft from an unattended motor – standard policy limits are usually low, maximum £1,000 and only if the items were in a locked boot. Some insurers, (Norwich Union for example) offer a sports package extension which will increase the limit to £2,500 anywhere in the car.

Loss or damage whilst in use – Some insurers simply say, “excludes loss or damage to sports equipment whilst in use” I could honestly see an insurer stating that for the period you were on the bank your tackle would be “in use” therefore cover would not apply. Other insurers are more specific and say “excludes loss or damage to racquets, sticks, bats and clubs whilst in play” This would therefore allow full cover for your tackle. This area DEFINITELY should be checked.

Loss or damage whilst asleep – grey area! This is of most concern to the majority of anglers, waking up to find your pod and the £2,000 worth of gear that was sat on it have gone. As far as I am concerned unfortunately on a household policy there is no definitive answer. There are no specific exclusions to leaving stuff in the open whilst asleep BUT there is a duty of care to take reasonable precautions to prevent a theft and insurers may see a person being fast asleep whilst leaving £2,000 worth of gear in the open as not taking reasonable care. If you are beaten up though or woken up and threatened that is a different matter altogether and I would expect most insurers to pay for stolen tackle in this instance.


All in all a household policy will adequately cover you for most situations and the cost is cheap.

Specialist Tackle Insurers

For no other reason than they are the best known I will use Tackleguard in this instance.

First off it is expensive! £5,000 worth of cover will cost over £200 to include up to 30 days abroad, theft from a vehicle and night fishing.

10% policy excess, if you were wiped out of £5,000 worth of tackle you would have to pay the first £500. A standard household policy is £50 excess.

Items over £300 need to be specified, on a typical household policy this is £1,500.

If you have over £3500 worth of tackle in your motor the car must be protected with a Thatcham Category 1 or 2 alarm in order for cover to apply.

No cover for items over 10 years old.

If at the time of any claim you have any other insurance or guarantee which covers the same theft, accidental damage, loss, or damage they will only pay a rateable share of the claim. If you have a household policy in force they would expect a contribution from them, claims will get very messy!

You must take all reasonable care to prevent any Accidental Damage, Theft or Irrecoverable Loss and keep Your Property Insured and the Insured Location in a good state of repair and condition. This like the household version is very grey!

Tackleguard do provide cover overnight but you must be within 5 metres of your rods and use bite alarms. I would however expect them to make full use of the “reasonable care” wording in such circumstances!


For what it’s worth I insure my tackle under a household policy and I am perfectly happy that in 99% of cases I will be adequately covered.

Like I said this is not meant to be a definitive guide to insuring your tackle but hopefully it will have been useful. If the MODS want to make this sticky I will do my best to answer any further questions you may have.

Spod.
Spod
Posts: 13199
Spod
   Old Thread  #1162 6 Mar 2012 at 4.18pm  0  Login    Register
This is getting a bit out of date in certain areas so i will update the post 1000 soon.
paul890
Posts: 251
paul890
   Old Thread  #1161 30 Nov 2011 at 9.50am  0  Login    Register
In reply to Post #2
very helpfull
carpkingsley
Posts: 53
carpkingsley
   Old Thread  #1160 26 Oct 2011 at 5.45pm  0  Login    Register
In reply to Post #1159
ernie1982
Posts: 2462
   Old Thread  #1159 13 Oct 2011 at 5.10pm  0  Login    Register
In reply to Post #1158
Why search out a 6 year old thread to mention and promote Korda insurance, when the search button would have provided you with dozens of recent insurance threads that have been discussed?

Hmmm
jet2900
Posts: 212
   Old Thread  #1158 13 Oct 2011 at 4.18pm  0  Login    Register
Korda do a nice insurance scheme, prices are quite reasonable too plus you get a goody bag
superturk84
Posts: 2396
superturk84
   Old Thread  #37 5 Dec 2009 at 11.04am  0  Login    Register
In reply to Post #36
will be doing that asap
Expat_in_Poland
Posts: 7979
Expat_in_Poland
   Old Thread  #36 5 Dec 2009 at 11.02am  0  Login    Register
In reply to Post #35
Engin take photos of all your gear in your house so it can be seen its your place with copy of newspaper showing date that should do it even lay the hooklink spools out so you can see them
superturk84
Posts: 2396
superturk84
   Old Thread  #35 5 Dec 2009 at 10.53am  0  Login    Register
In reply to Post #1000
I have mine covered with Swinton and have paid extra for shed cover.

for example: if you do get robbed will you only be able to claim items with a receipt, I know it sounds a silly question but you dot keep receipts for leads/hooklinks etc so how do you prove these?

I would be greatful if you could guve me an answer lads

Regards

Engin
the-gooner
Posts: 1794
the-gooner
   Old Thread  #34 30 Mar 2009 at 9.28pm  0  Login    Register
In reply to Post #33
Maybe it is, maybe it isn't, you need to check your policy document.

Each policy is different mate
Rob_lee
Posts: 890
Rob_lee
   Old Thread  #33 30 Mar 2009 at 9.16pm  0  Login    Register
In reply to Post #1000
is fishing gear covered under house insurance while in shed/garage?
Rob_lee
Posts: 890
Rob_lee
   Old Thread  #32 30 Mar 2009 at 9.16pm  0  Login    Register
In reply to Post #1000
Double post :(
Rob_lee
Posts: 890
Rob_lee
   Old Thread  #30 30 Mar 2009 at 9.13pm  0  Login    Register
In reply to Post #1000
.
the-gooner
Posts: 1794
the-gooner
   Old Thread  #29 30 Mar 2009 at 9.10pm  0  Login    Register
In reply to Post #28
I'd like to add something that I believe is important and not covered yet.

When you insure anything with an insurer there is a value at risk.

Let's suppose that you add up a total of your fishing gear to say £5,000 and you add up your household effects and they are £20,000.

That adds up to a hefty premium so you tell the agent to put the household down as £10,000 to reduce the premium.

What you then have to be careful of is if the assesor adds up the household effects and thinks they should have been £20,000 the he will tell you that you are under-insured.

The problem comes when he applies the 50% under-insurance to your missing fishing gear and gives you £2.500 less the excess, £2,000 is what goes in your trouser pocket.

The moral of the story is check the small print very carefully.



Carpin_Dave
Posts: 220
Carpin_Dave
   Old Thread  #28 30 Mar 2009 at 4.54pm  0  Login    Register
In reply to Post #26
Wishing I had my Gear insured - Had mine knicked out the shed couple of months back
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