UK Boat Insurance

You have probably heard about your friends telling you that owning a car is just like buying a boat when talking about the insurance policy that comes after getting the model. But a person may see settling insurance for a car easier that taking care of the most suitable boat insurance. If the boat owner, on one hand, has some experience in getting a car or automobile insurance, applying for boat insurance will not give him an advantage. However, for first-time customer in UK boat insurance, the following pieces of information will help you get the best deal of insurance for your boat.

Signing Up for a Boat Insurance

Well, as mentioned, car owners most likely have a fair advantage in getting boat insurance done smoothly. Some car insurance companies also offer insurance for other vehicles or even for boats. If you have an existing insurance for your car, you might want to ask the insurance company if boat insurance is available. However, if they do provide boat insurance, do not quickly sign up for it since there might be other options which can give you better deals of coverage. Always consider other possibilities.

Consider Other Options

Since you just want the best coverage for your boat insurance UK, it is always recommended to consider other options. Some boat insurance companies can even provide you comprehensive coverage in terms of the loss or damage of the vessel and other circumstances. Once you get the boat insurance quote from your choices of companies, you can rightfully confirm which quote would best suit what you want. Always bear in mind to carefully study the details of each quote before you can make your final decision. It is always good to compare to get the best possible price for you.

The Types of Insurance Policy

Of course, when you get a boat insurance UK, you must know the two main types of insurance for your boat. Your choice of insurance might be either an insurance based on the agreed value or an insurance based on the actual value. Actual value insurance means that the value of the insurance will be based on the assessment of the computer together with the consideration on the boat depreciation within the claim while the agreed value stipulates that the amount to be paid has been already agreed upon by the insurance holder and the company.

By knowing which type of boat insurance you will have, you can actually estimate the amount you will be paying as well as other factors involving your claim for the insurance.

You can obtain small boat insurance quotes online in minutes. These quotes can be used as comparison with your existing policy to upgrade your policy, or to add new coverage. Having boat insurance is a must, if docking your watercraft in a marina is required for qualifying for slip rental. Small boats are usually designated at 7m or less in length.

There are various kinds of small boat insurance. Dinghy insurance is available it usually includes the basics of theft, fire, accidental capsizing, and collusion. Obviously the value of the boat and serial number are needed to be registered on the policy. A police report for theft, fire and accidental capsizing claims are necessary for claims regarding these incidents. Replacement value and damage claims are predetermined with original policy filing so the cheaper policy may not be the best option, be sure to read the fine print. Collision coverage will usually include hitting foreign objects or another vessel. Racing coverage is entirely separate you need to apply for this coverage. Racing without the proper coverage may leave you with out a boat and owing out money for the person you collided with and or personal liability issues.

Small boat insurance for speedboats will have all the basic minimum and maximum levels of coverage that will be decided by you. Cost for speedboat coverage is higher than that of a dinghy, for the obvious reasons that you will attain higher speed and the likely hood of collusion is higher. If you plan to tow toys or skiers you will need additional insurance for those types of water sports. If you are deciding on racing your boat, you will need special speedboat racing insurance. Other small motorboats usually have policies that are based on motor size. Sailboats are also placed in this category based on the length of craft.

There are other areas you need to be aware of for instance, that levels of liability insurance are in place to adequately cover you, your passengers and any third party that may be exposed to danger in the case of an accident. Replacement value of your craft, accessories and personal belongings need to also be worked into the equation. Medical limits will be predetermined before policy is in force, but you can increase you insurance liability and medical limits at any time.

When deciding to take your boat on a trip, check with your insurance company to make sure they have policy coverage in that area or country. Small boat insurance will give you the peace of mind you need when owning a watercraft.

Owning a boat can be one of the most thrilling parts in your life. Whether it is a powerboat, sailboat, wave runner, bass boat, cigarette, jet boat, or any other kind of boat, it can give you a good sense of fulfillment in your investments. Having a boat can almost take you to the sea whenever you want and this is will give you a sense of relief witnessing the ocean as you propel your boat through the waves.

Well, in what better way can you enjoy your boat investment than by keeping it safe with insurance. Yes, fishing boat insurance particularly can give you the protection in case your boat gets lost or damaged by certain circumstances. So how do you exactly get to enjoy the whole insurance cover? Here are some points in which will help you know what some of the basics in boat insurance are.

Some Misunderstood Concept about Boat Insurance

Some people are often confused with the concept of boat insurance. Some boat owners think that their home owner’s insurance policy covers their boat too. This is one of the misconceptions people usually do. The fact is that this home owner’s insurance does not cover a single type of vessel and that includes boats. Moreover, some boat owners think they can navigate their boat in any bodies of water.

This is not true since most insurance policies only cover the place or route where the boat is oftentimes used and can be limited for up to a hundred mile only from your home port. In addition, some boat owners also think that boat insurance would cover automatically calamities but in reality, the insurance claims are only valid if the claim is filed properly. Another misconception is also about the lower rate of boat insurance when it is from the same company. Truth is, there are premium discounts for additional insurance plans but these discounts do not have the same impact on your total premium.

Get Online for Good Boat Insurance Policy

Just like any other type of insurance, getting a good deal in fishing boat insurance will require you to shop or ask around for recommended policies. As mentioned above, always remember that the home owners insurance is different and does not go along with boat insurance. Furthermore, it is also advisable to ask an insurance broker for different quotes so that you can compare and choose which is best.

Recent figures from the British Marine Federation showed that sailing and boating activity has never been more popular in Britain. Up to 3.2 million adults participated in boating and water sport activities in the UK or abroad in 2008 and there are an estimated 560,000 boats over 2.5m kept in the UK. One of the most popular pursuits is speed boating, and with the power and speed of these vessels it is crucial to obtain the best speedboat insurance quotes.

Speed boats are, obviously, designed with one main intention; to go fast. Unsurprisingly, therefore, the premiums for speed boat insurance do tend to be higher than for other types of boat. It would cost you more to insure a Ferrari than a Mini, and the same is true of sea going vessels.

When comparing speedboat insurance it is vital that you examine the various types of policy carefully. Many have exclusions for certain activities or risks and so it is important that you select a policy that covers everything you need. For example, some policies don’t cover ‘racing risks’ and so if you are planning to race your speed boat, you should look at specialist cover that includes this use.

Similarly, not all speed boat insurance policies include cover for towing water skis or water toys (such as inflatables or bananas) behind the boat. Again, if you are planning on using the speed boat for this purpose, make sure you include this insurance.

With many speed boats costing up to £50,000 it is important to secure the most competitive speedboat insurance premium. There are a number of factors that will influence how much your insurance premium will be and these include:

• Value of the boat
• Whether you plan to use the boat abroad
• Age of the boat
• Your personal claims record
• The excess you are prepared to accept

One of the main benefits of speed boat insurance is that it generally includes up to £2 or£3 million of liability cover for you and any person navigating or in charge of your vessel with your permission. As accidents are potentially more likely based on the speeds the boats can reach, it is vital that you are protected against accidents and damage to both people and the boat.

You will also find that speed boat insurance also includes the benefit of cover for transit (including the towing trailer), theft, accidental damage and underwater damage.

According to the British Marine Federation, there are approximately 668,000 households in the UK that own a boat. With so many Brits enjoying taking to the water in everything from kayaks and canoes to dinghies and narrow boats, the boat insurance UK industry has never been more buoyant.

So, whether you have a super yacht to take you to Monte Carlo, or a rowing boat to take you on the local lake, it is vital that you find the right insurance to protect your vessel.

What is boat insurance?
Boat insurance (sometimes called ‘marine insurance’) protects any type of boat from a small dinghy right up to yachts and expensive powerboats. In general terms, boat insurance covers similar risks to car insurance, namely fire, the theft of the boat and accidental damage to the boat and any equipment.

It also often includes ‘third party’ cover – namely any liabilities to third parties involved in a boat insurance claim.

Unlike car insurance, boat insurance is not compulsory, although it is, of course, strongly recommended. Some harbours or marinas do insist on you taking out boat insurance (UK based) if your boat is to be moored there.

What should I consider when buying boat insurance?
There are various factors that will affect the boat insurance premiums that you will pay. The main factors are:
• The type of boat that you own
• The value of the boat that you own
• Your previous boating experience
• The location of the boat and where it is stored
• Your previous claims record (no-claims discounts are generally available)
• How often you intend to use the boat and how far you intend to take it
• The size of the excess you are prepared to pay

What are the benefits of boat insurance?
There are many reasons that you should consider boat insurance for your craft. Firstly, you are ensuring that a valuable asset is adequately protected. If you had a piece of jewellery worth £5,000 you wouldn’t ever consider not insuring it against theft or damage, so why would you not consider insuring a £5,000 boat?

You can also ensure that not only your boat is covered, but also any equipment or accessories you have. Insurance can cover everything from lifejackets, motors, sails and rigging right up to personal effects, towing trailers and buoyancy aids.
Boat insurance UK also provides third party liability cover which will ensure you are protected in the event of an accident or any damage to a third party’s property.