CGU Marine Insurance

3.0 from 3 Reviews

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Good experience with CGU

Karyn-lee Miyoshi
Reviewed Oct 2017
When I purchased my boat five years ago, the previous owner had insurance with CGU. By using his broker I was able to transfer the policy into my own name without needing a survey. Since it was a boat worth less than $20,000 I was appreciative of that! Last year I had an insurance claim when another boat caused me some damage. My dealings with the broker was very disappointing, so I chose to speak directly to the claims department at CGU. I found them to be most helpful and very efficient. My claim went through smoothly and was settled promptly & in cash. Overall I can't fault the service at CGU.

Cheers, Karyn @recycledboatbits
1 person found this helpful. Do you?Thank Karyn-lee Miyoshi

Would never deal with them again

Paul H
Reviewed Oct 2017
My boat used to be with CGU when its was my Dad's. When Dad passed and it became mine and CGU gave me a hell of a time wanting a complete survey which was not worth it on a $10,000 boat. Okay its an old hull but photos previously provided to them show the hull is in impecable condition and it is always garaged. Motor is newer and the trailer is only a few years old. Ended up being half mine and half mums so they would continue the policy (mum was co/insured on the policy with Dad so was able to continue the original policy.

Then late last year I received a letter from CGU saying they now wanted the survey done within 7 days, - number of calls explaining the boat and me are in different locations and it wasn't that easy given I work 6 days/week. In the end they agreed to extend it for 2 months to allow me time to provide a condition report.

Was about to get this when I received another letter saying they would no longer accept a condition report from the marine place I had nominated (where it is services annually) as they weren't an authorised dealer with CGU and they wanted me to get the boat and cart it 300km to adelaide so the authorised dealer could do the condition report. They gave me 7 days to do this.

5 days later I received yet another letter from them saying they would no longer accept a condition report and seeing I "was in no position to get the survey done" (i never told them this I just said it would be difficult to get the boat and bring it down in the next 7 days due to work commitments) they would not be renewing the policy.

Subsequently I wrote them a two page letter informing them of what I thought of their business and how they deal with their customers and pointed out I was taking my business elsewhere and would never deal with them again.

I am about to get a club marine condition report from my service mechanic who is an authorised club marine dealer and insure it with Club Marine. The quote they have given me was about $10 cheaper than CGU and covers more and includes things such as assitance on trips in case of towing problems or problems with the boat itself (which CGU didn't provide). Haven't had a claim for the boat ever and only have it insured for peace of mind and liability cover for that just in case event.

Have a mate who owns a brokerage company and he recommends Club and Nautilus saying both are good.
1 person found this helpful. Do you?Thank Paul H

Thought I had a good deal

Ramona
Reviewed Oct 2017
My old yacht was with CGU and I'm looking for coverage now for the new one. I was dealing with a broker and thought I had a good deal but when I sold the boat to a mate he renewed the policy direct with the company with a substantial saving.
1 person found this helpful. Do you?Thank Ramona

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