Has Your Insurance Renewal Increased?

The last few years have been incredibly busy for Marine Insurance Brokers. A record number of claims have been filed in the last 24 months as a direct result of some particularly extreme weather events across the globe…

Luxury Yachts Damaged in the Italian Storms, October 2018 - Rapallo

Luxury Yachts Damaged in the Italian Storms, October 2018 - Rapallo

From the storms on the Italian Riviera in October 2018 to Hurricane Irma just a year before hand, Insurance Brokers have been inundated with claims and losses. These great financial losses are not exclusive to the yacht owners…

‘’Fortunately, Saxon Yacht have not been affected and our renewal quotes are coming back at record lows -  our clients left the areas affected at the first sign of danger!’’ 

Samuel Cise – Director

Many Marine Insurance brokers have increased their renewal premium in an attempt to offset losses occurred during the last few years, it has understandably been a particularly difficult time to maintain profits with such a high number of claims.

110 Foot Yacht Damaged in Hurricane Irma - Dinner Key Marina, Miami.

110 Foot Yacht Damaged in Hurricane Irma - Dinner Key Marina, Miami.


Insurance policies and their corresponding premiums are based solely on statistics & figures, the larger the Insurance Brokerage, the more claims they handle. The increase becomes self perpetuating, with the largest Insurance Brokerages handling more claims and therefore increasing premiums across their list of policyholders.

‘’Saxon Yacht are in an extremely fortunate position. None of our policy holders have claimed in the last 24 months due to their diligent & pragmatic professionalism. We are therefore providing quotes similar to those available 2 or 3 years ago…’’

 

Saxon Yacht are proud to have a truly boutique approach to Marine Insurance Brokerage Together with our parent company, Saxon Private Clients, we have insured over £300m in Luxury Assets. Saxon Yacht is comprised of Ex-Yacht Crew & Experienced Marine Insurance Brokers. This unique combination ensures we are able to access the best possible deals on behalf of our clients, whilst understanding the complexities and individuality of each and every Yacht.

 

Please don’t hesitate to get in touch with one of our experienced & professional Marine Insurance brokers on the details below…

samuel.cise@saxonyacht.com

+44 7874 040 365