Our Crombie Lockwood insurance scheme is one of the main funding sources of the NZYTA. The association receives payment from Crombie Lockwood Insurance Brokers directly related to the premiums paid by those members participating in the insurance group. It is funding that is most appreciated and very necessary.
Your local club, trailer yacht squadron or class association secretary will have an information pack on hand that will include a brief description of the latest coverage and the current premiums, etc. These new packs are expected to be updated yearly.
However, some of the most important facts will not be in the information folders. It is information not known by all as personnel changes have been many over the years and this is the history of the insurance group and its support to the NZYTA.
Here are a couple of quick Q & A’s for you:
How long has the insurance group been operating?
The group was started back in about 1976 by Graham Dowling now Crombie Lockwood in Tauranga.
How many years has the NZTYA been receiving funding from the insurance scheme?
Funding to the NZTYA began the same year. Yes, that’s right the NZTYA has been receiving financial support from the brokers for over 30 years!! Insurance group membership numbers have been up and down over the years. Generally, when club membership numbers have been up so has the number of trailer yachts insured through the insurance scheme and to complete the circle the financial support to the NZTYA has been greater. The principle involved with the group is to have Trailer Yacht claims dictate Trailer Yacht premiums without the influence of other types of vessels. The insurer chosen by the broker is Vero Insurance Ltd who have an experienced marine hull department and who have worked well with the broker to make this group a success.
Schemes such as this need volume. They need participation by a majority rather than just a few in order to be a success and, in this case, to continue to provide funds to the NZTYA. In previous years the scheme rates were considerably less than individual premiums elsewhere; in fact there were instances where the cost was less than half the cost of other quotations. The premiums, then, were a real breakthrough for trailer yachts and while the current terms are not that much different to the market average, the cost of hull insurance over all is much lower than it was. Therefore, while the savings may not be as great you, as members of clubs, squadrons and associations affiliated to the NZTYA you do directly benefit from the funding package. It is not all about the amount of premium saving it is also about support, firstly from you to the insurance scheme and in turn from the scheme by way of financing back to the NZTYA. Effectively you get back more than just peace of mind.
To summarise; the NZTYA and you as members have received great financial support from the brokers for your insurance group for many years. It is important that as members we support the Crombie Lockwood/NZTYA insurance group and ensure the continuation of their ongoing assistance.
THE NZTYA NEEDS YOU!!!
Indie Buller CROMBIE LOCKWOOD (NZ) LTD TAURANGA
New Zealand’s insurance brokers
Phone: DDI 07 579 7619
Fax: 07 579 7601
Support Trailer Yachting - Join the NZTYA Insurance Group