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