How to Insure your Boat

How to Insure your Boat?

Owning a boat can be a wonderful experience. In fact, it is probably safe to say that most people would love to have their own boat. However, it does not come without major responsibilities.

Amongst the most important is being certain to carry a comprehensive boat insurance policy. Whilst boat accidents in general may be a bit less common, they do happen.

It is always wise to prepare yourself for anything that may occur. In addition, there are many unfortunate things which could happen, resulting in damage to your boat, another boat or even personal injury. It is important to understand how to insure your boat properly.

How to Insure your Boat

Types of Boat Insurance Cover

There are approximately five different types of major cover for boats. Accidental loss or damage covers just about any sort of damage or loss of property that may occur as a result of incidents which happen onshore or offshore.

Liability is the type of cover that protects you from financial responsibility for damage to other vessels due to an accident you are involved in.

Personal Injury cover is fairly self-explanatory and there are different levels that you can purchase. One type cover not to be overlooked is personal effects. This type of cover insures your belongings and valuables that may be lost as a result of an accident. Finally, removal of wreck cover will help offset the extremely high cost of towing your boat in after a wreck or cleaning up the mess.

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Top UK Boat Insurance Companies

GJW Direct is perhaps the largest provider of boat insurance in the UK. They will insure anything from a jet-ski to a luxury yacht. The cost of each policy will vary, of course but they must be doing something right if they have such a large following!

Cover My Boat is also a popular boat insurance company in the UK. However, they are a bit stricter about whom they cover and they are not listed on online databases. In order to get a quote from them you must go directly to their site.

Cost of Boat Insurance

Obviously the cost of boat insurance will vary quite a bit depending on the type of vessel you are covering. In addition, there are a number of other factors which play a role in the price of boat insurance. One important aspect of understanding how to insure your boat is learning what some of those factors are.

First and foremost the value of the boat is the first thing that will be taken into consideration. In addition, the age of the boat as well as the insured individual will be factored in. To find out more about the particulars of the cost of boat insurance, do some research and check with a number of boat insurance companies.

It is very easy to downplay all of the things which can happen to a boat if you are a recreational boat user but make no mistake, unfortunate incidents do occur, both offshore and onshore. If you have recently purchased a boat or plan to purchase one, be sure you look carefully into boat insurance to be sure you will not be left in debt as a result of financial responsibility due to an accident.

Fires can occur, weather related accidents, carelessness and a number of other things can lead to the loss of property or personal injury. Be smart and make certain you are fully covered and protected from these things.

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