10 Reasons to have boat insurance

Boating should be fun but it can prove very expensive if you are not properly protected. There are plenty of very good reasons for having the right insurance cover in force but first make sure you get proper advice from a Marine Insurance Broker before arranging cover.

  1. Many marinas and inland waterways require that you are insured before you can launch or moor your boat.
  2. Even if your boat is of little value and you are prepared to take the risk of its loss it can still cause serious and expensive damage to other people, other boats or Third Party property.
  3. Third Party cover protects you against potential financially crippling personal injury or damage claims which can bankrupt anyone uninsured.
  4. Insurance can protect you against the major costs to recover even a small boat if it sinks on a mooring or in a harbour.
  5. Your motor insurance doesn’t cover damage to your boat if its trailered. Check with your motor insurers that you are covered for towing.
  6. Insurance can be tailored to ensure you get precisely the protection you need without paying for cover you don’t want. A specialist boat insurer or insurance broker will be best placed to help you.
  7. Taking a boat on the Continent often requires compulsory insurance so check the requirements of your destination.
  8. Boat insurance can also cover you against loss or theft of personal possessions whilst on board.
  9. If you require finance to help fund the purchase of a boat your bank will want to be satisfied that you have appropriate insurance.
  10. If you’re thinking of buying a boat you can arrange insurance well in advance to avoid any last minute hitches.