PIC Insurance Brokers have kindly given the event a set of four corporate box seat tickets for the Auckland vs North Harbour Rugby match on 14th October 2018 at Eden Park. One boat will receive all four tickets – what a great way to ‘bond’ with your core team and sailing mates before the Great Race North.
All you have to do is enter your boat into the race before 1st September and you’ll be in the draw to win! The wining boat will be revealed at the first race clinic, on September 3rd, 7pm at RNZYS.
If you’re one of the many boats that have already entered – no worries, you’re already in the draw.
Insurance: Frequently Asked Questions
The team at PIC Insurance Brokers know everything there is to know about marine insurance and have kindly put together this useful guide for Coastal entrants.
Why is Insurance important?
Insurance transfers the risk of a potential loss to an insurance company. Insurance not only covers you for any loss caused by you, but also for losses caused by a third party or damage due to environmental factors, such as a weather event.
Why is a broker important?
A broker is your independent advocate that helps both with advice on the product as well as assistance in the event of a claim. Insurance should form part of your risk management programme and a broker such as PIC assists in getting the right cover in place and in the event of a claim will provide assistance in negotiations.
What am I covered for?
Not all things are created equal and insurance products are a typical example of this. The devil is in the policy detail and too often Yacht owners find out the harsh reality of what is actually covered and disappointingly what is not at claim time.
Vessel Insurance typically named Pleasurecraft Insurance should cover you for a sudden or accidental loss to your vessel and place you in a pre-accident situation. In addition, cover is usually provided for third party liability. $5,000,000 liability cover is often required by Marina Operators and Race Organisers.
Do I require a Racing Risk extension?
For an event such as the PIC Coastal Classic most vessels will require a Racing Risk extension. It is best to check with your insurance provider if the Costal Classic is currently covered under your policy as some company’s limit the distance that cover is provided for.
What do I need to have done prior to the race?
Prior to the start of the Coastal Classic, PIC recommend that you talk to your insurance provider, find out what is and is not covered and know what to do in the event of an emergency. Prior planning goes a long way to minimising harm to your vessel and crew.
Who are PIC Insurance Brokers?
PIC is the largest entirely New Zealand owned and operated independent broking house. This means that when you deal with PIC you deal with locals who understand the New Zealand Market and our way of life. PIC Insurance brokers are passionate about sailing and have a dedicated Marine team who are experts in the Marine Insurance Industry, and have formed strong relationships with all major insurers to provide a more comprehensive cover than if you were insured directly or with one of our competitors.
Daniel Garner and the marine specialists at PIC are standing by to take your questions. Phone 0508 742 742 or email insure@pic.co.nz