News / UKGlobal negotiates improved 2021 renewal terms for the UKFA

The 2021 renewal terms have been negotiated on behalf of the UKFA with the following key points:

• A reduction in the premium rates by 5%, subject to no claims in the expiring period.
• Removal of the co-insurance clause. 
• A standard £250 excess to be applied to all policies.

• A scale of policy excess reduction will be applied depending on number of years continuous insurance with Haven Knox-Johnston/MS Amlin.  The reductions applicable are as outlined below:

• The No Claims Bonus (NCB) will become protected automatically once 5 years NCB is reached.  NB. It will still be possible to protect the NCB prior to 5 years having been achieved subject to the payment of an additional premium of 5% of the gross premium.

• A Small Craft Hire benefit is to be added to the policy.  This includes cover for the hire of a vessel for racing use if the insureds’ vessel is damaged and a claim has been made. This would be paid instead of the racing fee i.e. either/or.
• A multi-craft discount of 10% remains.

The 2021 Brochure is here.

If you have any questions, please contact the following at UKGlobal:

Jerry Dungate     [email protected]          01883 333512

Fiona Lavery       [email protected]            01252 734539