Speedboat Insurance
| Insurer | Outstanding Policy Features | Quote |
|---|---|---|
| Automatic transit cover for crafts up to 9 meters. Optional waterskiing cover. |  |
|
| Cover for theft, fire, accidental damage and third party liability. Cover while in transit for all craft up to 9m and optional cover for towing waterskiers. 25% No claims discount available. | |
Anyone who owns a speedboat should always make tailored speedboat insurance their top priority. These can be very expensive and risky vessels, and failing to have adequate cover in place could leave you open to some unwelcome consequences.
Speed boats are specifically designed for travelling at incredibly high speeds across the water, and this speed can obviously lead to an increased risk of accidents and injury. If you’re not covered by speed boat insurance then any claims made against you (should you hurt someone else or their property) will have to be paid out of your own pocket, and these can easily sky rocket.
Third party liability should therefore form the basics of your insurance policy, but always go for cover that’s as comprehensive as you can if you want to be fully protected. You need to protect yourself and your vessel against any accidental damage, vandalism, fire and theft, and you also need to make sure that you’re covered both in the UK and abroad. It’s a good idea to see if any water toys will be covered as well such as donuts or bananas, but not all insurers will be able to accommodate so make sure to do your research.
However, it’s worth bearing in mind that this type of insurance will always be more expensive than other vessels of a similar size and price range, quite simply because of the increased speed at which you’ll be travelling. This makes accidents more likely and insurers have to prepare themselves for the increased likelihood of a claim, so don’t be surprised if your premiums are higher than with similar vessels.
But, there are things that you can do to reduce your premiums. If you don’t want any added extras such as water ski or inflatable toy cover then you can see your quote reduce, and if the top speed of your vehicle is in the lower range of speed boats then you could be able to negotiate with your insurer.
These are just a few things that you need to consider when it comes to speed boat insurance, but always make sure to talk to your insurer in detail to see what cover would be best for you. A lot of them recommend that you get in touch with them directly, with certain ages, speeds and sizes of boats needing different considerations. As long as you’ve got the cover necessary then you have nothing to worry about, and you’ve just got to look forward to hitting those waves.