5 reasons why you need boat insurance

In the UK, having boat insurance is not always a legal requirement. How and where you use your boat will determine what cover you require. For example, third-party insurance may not always be required in the UK, however if you intend to keep or use your vessel in countries such as Greece, Spain, or Italy, it will be required as a minimum.

While it may not be a legal requirement, having insurance in place can be beneficial:

1. Accidents happen

Whether you or another boat owner are at fault, accidents can happen. Whether it’s a collision with another boat or a dock, striking an underwater object or grounding, accidents can cause costly repairs. Without insurance you would need to cover the cost of repairs. But with the right insurance in place, you could be covered for such unexpected costs.

2. Marina and waterway requirements

In the UK, many marinas, harbours and inland waterways require third party liability cover as a minimum, before you can moor or use your boat there. Having appropriate insurance allows you to use your boat where you want to.

3. Liability cover

Third party boat insurance protects you from claims from a third party for damage to their property, injuries or death caused by the use of your boat. Without this cover you could be liable for costly compensation or legal fees. Cover is often a requirement for using inland waterways or keeping your boat in a marina.

4. Protection from theft and vandalism

Boats and equipment such as outboard engines, are valuable and can be targets for theft or vandalism. Repairing or replacing equipment without insurance can be expensive and any delays could keep your boat off the water while you wait.

5. Peace of mind

Finally, purchasing and owning a boat is a financial investment, knowing you’re covered allows you to enjoy it safe in the knowledge that you’re financially protected against unforeseen circumstances. For insurance advice or to get a quote, visit Bishop Skinner Marine.

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