It is a requirement of our marine mortgages that you insure the boat comprehensively and notify your insurers of our interest. We may request a copy of your policy.
Benefits of choosing a Boat Insurance Specialists
There are plenty of standard insurance companies who will offer basic insurance policies that will cover a boat and its contents, but not all of these general insurance companies will have the in-depth knowledge to fine tune a policy according to the many variations in boats and boating equipment.
A boat insurance specialist will have specialist knowledge in the field of marine insurance enabling them to offer policies which are more beneficial to the boat owners and their individual circumstances.
Insurance premium will depend on vessel type, make, size, the year of manufacture, type of mooring and useage and can all have an effect on the type of cover that is available.
The Importance of Boat Insurance
Having boat insurance is requirement for many marinas and public waterways and if you are going to invest significant funds into a boat then it is always wise to protect that investment. Additionally, obtaining an inland waterways licence may be difficult without providing evidence of third party cover, while this is also true for many of the UK’s reservoirs and lakes.
So not only does specialist boat insurance provide peace of mind, it can also open up many new options with regards to where you can sail your boat around the country’s waterways.