No, there are many differences in both degree of cover and exclusions.
It is therefore important for yachts, narrowboats, motorboats that the proposal form is long enough to ask all the questions to cater for all situations, types of cover & items to cover your particular requirements and include extras you may wish to consider.
Yes as there are many differences, not just the craft but their mooring, usage, area, and a range of coverage is often available only from a specialist insurer.
Third Party Only is the cheapest. It covers your legal liability against third party claims for damage to another boat or property or injury you cause to others. Important that this cover includes Removal of Wreck, salvage and pollution costs which could amount to very large sums irrespective of the actual pre-accident value of the craft itself.
Comprehensive cover includes Third Party Indemnity as well as covering the craft itself against accidental loss or damage from Fire, Theft, Vandalism, Collision, Stranding, etc. as well as options which may apply like Legal Expenses and Marina Benefit extensions only available on Comprehensive policies.
Racing Risks cover is an extension to sailing craft policies to cover the perils of the stress of racing, usually at an additional premium. On our dinghy scheme policies it is included free. Powerboat racing and offshore passage racing cover is a specialist field that we don’t have facilities to insure.
Towing on roads loss or damage to craft/trailer themselves is an extension on some policies, all our policies include this cover where the items themselves are insured. Note-a boat insurance policy does NOT include Road Traffic Act Liability cover, only vehicle insurers can provide that so it is important that you check with your motor insurer that their policy covers this to be legal on the road.
Commercial – Unfortunately, commercial use such as hire, charter, BnB, teaching, company, or club owned are specialist fields which we do not quote for as we specialise in private pleasure use and ownership.
No, some firms average out the high risk with the low and quote in the middle whereas we specialise in the lower risk thus enabling us to often quote better terms & rates.
Most authorities, marinas, boatyards, clubs, etc. require that you have at least £2m Third Party cover to use their facilities or waters. All our policies provide £5 million indemnity & meet all requirements.
Yes as it could be damaged by falling branches, roof tiles, gales also causing damage to others, accidents like dropping your mast onto another boat or a car or injuring a bystander. Even from fire when locked inside a garage and theft especially of outboards and electrical or navigational equipment all happen frequently when laid up at home, club or boatyard.
We send to every new client and with every renewal a complete set of claim instructions & advice on how to deal with all situations, so you will know exactly what to do in advance. We also provide a list of the problem areas with suggested precautions to take to avoid loss or damage.