UK Yacht Insurance Information

Yacht Insurance Quotes

If you require yacht insurance, but have been presented with a number of alternative policy wordings from a variety of companies, Noble Marine's Guide to yacht insurance may help you decide the sort of policy you need.

Full details of the cover provided and a quotation form can be found by clicking the Yacht Insurance link on our website.

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Both the cover provided by different yacht insurance companies and the service they offer, can vary greatly. Bear in mind that a cheaper policy may end up costing you more, if you have to make a claim and you should always check what cover is being offered before signing up.

Q. What should I look out for?

A. Everyone's needs are different, and only you can decide if wider cover is important to you. It is essential though, to understand what is being offered to you, before being able to make an informed decision.

• Comprehensive Cover - will provide cover for your boat against accidental damage, theft, fire and vandalism.
• Third Party Liability - You should not consider going afloat without liability insurance, which will cover you if you cause damage to another boat or worse still cause injury.
• Racing Risks - A few yacht insurance policies will automatically cover racing risks for all sailing yachts but some insurers may charge you an additional premium, which is usually calculated against the replacement value of the boat's mast, spars and sails. You must be careful when specifying this amount, too high and the premium charged will increase, too low and you may not be adequately covered in the event of a claim.
• New-For-Old cover - This will replace damaged items with new, however age limits may apply.
• Policy Excess - You will be required to pay the first £x of any claim.
• Laid up Period - Do your insurers restrict cover by insisting that your boat is laid up ashore between certain dates?

Q. Do I need to use a specialist yacht insurance company?

A. No - Many High Street Insurance Brokers will be able to arrange your yacht insurance, but not all have the necessary expertise to advise you correctly.

Q. Should I expect a standard policy to cover me while I'm not sailing (i.e. when my yacht is ashore or while I'm travelling?)

A. Comprehensive policies should cover your yacht against accidental damage, theft, fire and vandalism, whether in use or not; however there may be restrictions on your policy. There may be restrictions on where your yacht should be moored, and when she should be taken ashore. These details should be listed on your policy.

Transit cover will be provided for smaller yachts towed behind your car, however there will be restrictions on larger boats (typically those longer than 9m) and those boats being transported by professional hauliers. Third party liability whilst in transit will be excluded, as this will be covered by the vehicle's insurance.

Q. Am I covered to sail for 12 months of the year?

A. Some policies will stipulate that your yacht is laid-up ashore for certain times of the year. Check your policy carefully and find out what cover would be in place if you were unable to lift the boat from the water, due to bad weather or if you wanted to launch the boat prior to the end of the laid up period.

Q. To what extend would my equipment be covered on a standard policy (i.e. sails, spars etc)?

A. Some insurers will only pay claims based on a percentage of the new replacement cost of your mast spars or sails, dependant on its age, leaving you to find the difference. Typically, insurance companies will only pay two thirds of the replacement price on equipment over three years old.

Other items, such as your tender and outboard, life-raft and other personal effects or navigational equipment should be listed separately on the policy and all serial numbers advised to your insurers.

Q. Does it matter who is in charge of my yacht?

A. The majority of yacht insurance policies will allow anyone to sail your boat with your permission, however it would be prudent to check this first. If you receive money in return, i.e. the boat is being chartered or hired; this may invalidate your policy.

Q. Will I need to obtain a survey for my yacht?

A. Most insurance companies will require a survey for any yacht aged 20 years old or more, and then again, every five years or so. Some yachts may require a survey earlier than this if they have sustained serious damage, if they are wooden, or if they have been self-built.

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