Motor Boat Cruiser Insurance
| Insurer | Outstanding Policy Features | Quote |
|---|---|---|
| Cover on underwater gear without any increase in excess. Personal accident cover up to £10,0,000. |  |
|
| Cover for theft, fire, accidental damage and third party liability. 25% No claims discount available. | |
If you own a motor boat or cruiser, I’m sure you love speeding up and down the waterways of Britain. But have you got your insurance implications sorted out? Motor boat insurance is an essential purchase and should always be sought before you get out on those waters.
Although not always a legal requirement, some waterways and moorings do stipulate that you need adequate cruiser insurance in place before you can access them. This is to protect their other patrons as well as you – if you damage someone else or their property, you need to be able to pay any claims made against you. As these costs can easily add up, it makes sense to be fully covered by your insurance policy.
This means that third party liability cover always needs to be included in any motorboat insurance policy you get, and luckily this shouldn’t pose too much of a problem. Most policies will be able to offer much more than this and you should always try to go for the most comprehensive cover that you can, including options such as personal accident cover, accidental damage and extended cruising ranges, as that way you don’t have to worry about the unexpected befalling you.
The premiums that you pay will depend on a number of different things, most notably the age, size and speed of the vehicle. Vessels that travel at less than 17 knots will have cheaper premiums because of the reduced insurance risk, and likewise anything above 17 and up to 55 knots (after which it’s classed as a different vessel) will be subject to increased risk and as such higher premiums.
It’s often worth going to the insurer directly if your vessel is particularly pricey, with many insurers specifying that they’ll need more details for anything above £50,000 (depending on your insurer). They’ll also need more information if it’s above a certain length, usually 23ft, and if it’s older than 25 years old you’ll again have to go directly to see if any provisions can be made.
As you can see, there are a lot of things that need to be taken into consideration when it comes to motor boat/cruiser insurance. It pays to be fully protected as you never know what’s around the corner, so if you don’t want to lose out make sure that you spend the time to find the most comprehensive cover that you can. You’ll be pleased that you did.