Insuring your craft | Boat insurance | Additional Information
Back to Marine Advice
INSURING YOUR CRAFT INFORMATION
Insuring your boat isn’t mandatory, however with such a large purchase like with a car, motorcycle, caravan or property it is a recommendation to do so.
You will also discover that without having a minimum third party insurance policy with at least a £1 million of cover you will able to moor your boat in most marinas or harbours around the country, in fact all water authorities insist on this.
Like with most insurance policies, your age and experience will reflect upon the amount of premium you will have to pay.
Also the premium amount will be dictated by the boats type, value and location.
Any accessible or supplementary items should be contained and always locked away in the correct storage lockers. Check all access roots to make sure they have the correct locks fitted. Anything that you leave on deck may not be covered.
Every insurance policy has small print and boat insurance is no different. Your policy needs to provide the cover that you want. Standard policies include collision, theft, sinking and damage. You must discuss specific requirements with your chosen policy provider.
Standard boat policies will exclude commercial use of your boat, however they will make exceptions but you need to discuss with your insurer before the policy is taken out.
With anything that we insure, it is automatically accepted that we should act responsively and take care of the boat. However if you are negligent and irresponsible your policy may become void.
Before obtaining a quote have the following information to hand:
1. Value (or price paid), year of manufacture, the make, age and model
2. The name of the boat and type of construction
3. If you have a motorboat – Make, model and engine size
4. Registration docs and builders number
5. If a trailer is included – Registration number and manufacturer
6. Where it will be moored
7. What you are going to use the boat for IE charter, race, and cruise
Quick Policy Guide
Contact with third party objects
Corrosion or electrolysis
Deliberate acts of negligence/recklessness/being under the influence of drugs or alcohol
Any breach of the policy warranty or a condition which may invalidate a claim
Get a quote Marine Finance