How do you get the cheapest boat insurance? What exactly is boat insurance and why do you need one? And what can you do to reduce your boat insurance costs in the UK?
In this article we go through everything you need to know about boat insurance, why it is not a legal requirement yet important and how to protect your
What is boat insurance?
Boat insurance is a type of insurance that covers you financially if your boat is stolen, damaged or involved in an accident that has affected other people.
Depending on the extent of coverage you want, you can get insurance for your boats, narrow boats, kayaks, jet skis, canal vessels, etc.
A wide range of yacht insurance coverage protects your boat if it suffers fire, vandalism or accidental damage both on land or on waterways and third party liability protects you financially if you have an accident with another boat.
Even if you are not required by law to have boat insurance in the UK, navigation authorities for waterways and port and harbor operators always insist that you have at least one third-party insurance cover that protects others from damage that your boat may cause.
They are always so strict about this that without third party insurance you may not use your boat on waterways. In fact, you are not allowed to use any marina.
Do I really need boat insurance?
There is no known law that requires you to have a boat insurance before you can use your luxury boats on large seas or your kayaks in small waters.
However, as this is not a legal requirement, we often recommend that you have it so that you can protect your boat and those on board your boat in the event of damage, theft or accident.
Where as it may, some states in the United States may need one. California does not require you to have boat insurance, but you must reach a minimum age before you can use a boat.
Although your state may not give you a boat insurance policy, your bank will, especially if you took out a bank loan. The level of boat insurance coverage you receive must be sufficient to cover the cost of replacing the boat with a new one in the event of an accident or theft.
3 Unbelievable facts about boat insurance
There are basically three fantastic facts about boat insurance, we think you should know to always get the cheapest boat insurance every time.
- Boat insurance, unlike car insurance, is not a legal requirement. In California, for example, you are not required by law to have boat insurance or a boat license, but you need at least third-party protection to access rivers, canals, shipyards and marinas
- Your boat insurance cost varies depending on factors such as boat size, type, power and use [19659018Bybuildingano-claimdiscountandimprovingthesafetyofyourboatyoucandrasticallyreduceyourboatinsurancecost
Here are some of the things you can do to improve the safety of your boat to lower your insurance costs.
- Always choose a marina with full-time protection and good lighting to reduce your boat insurance costs.
- Install an alarm and a tracking device. An anti-theft device connected to your boat can help you get the cheapest boat insurance when comparing prices.
How to Buy an Affordable Boat Insurance Policy
Before you buy your boat insurance, it is important that you shop to make sure you get the cheapest boat insurance coverage.
You can also compare quotation insurances on the boat online by checking a few suppliers. Most of the affordable providers in the UK have some insurance policies as low as a premium of $ 21 per month.
Which boats can you buy for insurance coverage for? Here are a few boats that you can easily get cheap insurance coverage for:
- Rigid inflatable boats (RIB)
- Jet skis
- Narrow boats