| If you have a boat, you need to make sure you | | | | Which Insurance Company to Choose |
| have the right insurance for it. | | | | You should always choose a familiar and reputable |
| In order to find the best boat insurance policy you | | | | insurance company which specifically caters for boat |
| need to determine the type of boat you own and | | | | insurance. Many regular high street insurers are able |
| what you plan on using it for. The type of boat and | | | | to offer boat insurance, but may not have the |
| its age will all affect the cost. | | | | expertise to offer the best advice. Whatever |
| Insurance for your boat is similar to that for your car. | | | | country you're based in, it is best to choose an |
| There is not only cover for the boat, but also for | | | | insurance company in that country so that any |
| passengers, damage to other boats and damage to | | | | problems will be dealt with under the law of your |
| property. | | | | own country. |
| Policy Types | | | | Making a Claim |
| Third Party Liability covers boat owners for any | | | | Submit your claim as soon as possible after an |
| damage they are not liable for, such as other vessels | | | | accident. Any incidences of theft or criminal damage |
| or property. It will also cover injuries to others | | | | should be reported to the police. For your claim form |
| including loss of life. | | | | you'll also need the Crime Reference Number. |
| Comprehensive Cover usually covers all accidental | | | | Usually, you'll be asked to get at least one quotation |
| damage, fire, theft and vandalism but is subject to | | | | in writing for the repairs or replacement. Often you'll |
| policy conditions. | | | | need two if the claim is over a certain value. Before |
| With New For Old Cover, anything that's damaged | | | | allowing repairs or a replacement, your insurance |
| will be replaced with brand new goods. However, | | | | company might send an inspector or loss adjuster to |
| there is often a clause on the age limit where the | | | | make an assessment of the damages. |
| broker will rather pay the market value of the item. | | | | Surveys |
| Racing Risks Cover is for those wishing to enter their | | | | Most insurance companies will require a survey for |
| boat in races. In competitions, boats travelling at | | | | any boat aged 20 years old or more, and again after |
| higher speeds means a greater risk of damage. | | | | every five years. Some boats may require a survey |
| Laid Up Period - If your boat is to be laid up ashore | | | | earlier than this if they have sustained serious |
| for any period of time, you need to make sure that | | | | damage, if they are wooden or if they have been |
| your policy covers this. | | | | self-built. |
| Homeowner's Policy | | | | Legal Protection |
| It's possible to have a boat insured under your home | | | | For an additional premium, some insurance policies can |
| insurance policy, but this will rarely cover specific risks | | | | be extended to include legal representation if your |
| such as running aground or wreck removal. | | | | boat is involved in accident resulting in you suffering |
| Commercial Cover | | | | financial loss or injury. |
| If you intend to use the boat for commercial | | | | None of us can predict when or where an accident |
| purposes, for charter or even informal client | | | | may occur. However careful or experienced you may |
| entertainment, most insurance companies will class | | | | be it's vital to insure your boat. Speak to fellow |
| this as commercial use and the cover will probably be | | | | sailors and do plenty of research on the web. The |
| more expensive. Always check with your broker to | | | | right boat insurance gives you peace of mind which is |
| make sure that you are covered. | | | | invaluable. |
| Going Abroad | | | | regularly publishes boating articles and marine news. If |
| It is important to check the territorial limits of any | | | | you're a private seller, boat broker or dealer, you can |
| boat cover before undertaking a trip abroad. Many | | | | sell your boats on or if you're looking for a boat, |
| European countries will ask for evidence of insurance | | | | checkout their worldwide listings of boats for sale |
| cover and may require a translation which your | | | | and charter. |
| insurer should be able to provide. | | | | |