Speedboat Insurance Season Beckons
Posted by admin on Jan 30, 2011 in Boat Insurance | 0 comments
It will soon be time to dust off the speedboat after a winter lull and take to the lakes and waters of coastal Britain. To let speed take control as you go all out and onto full throttle for pure and basic excitement and an adrenaline rush. But with speed comes danger, danger that’s best served with a speedboat insurance cushion in case anything goes wrong.
Every year many boat and speed enthusiasts look to renew or change their current speed boat insurance plans and policies to ensure they get the most for their monthly premiums. To do so most will compare their current policies online against a basketful of other speedboat insurance offerings from specialist brokers and insurance houses.
Before you do, the seasonal warning of renewal comes with a few tips to find the best speedboat insurance as well as the cheapest. Speedboat insurance isn’t rocket science, they’re fast boats, with expensive engines and they can ’cause a lot of damage to the rider as well as anything in its path should it collide.
A few ways to find cheaper speedboat insurance is to make sure, if you’re not taking part in racing or competition, that your insurer knows this. Also if not towing skiers or inflatables, again advise your insurer that you don’t need cover for third party liabilities in this respect nor for accessories and damage to towables.
Lastly make sure that while you cut parts of your policy off that you increase others for maximum enjoyment for you, your friends and your family. It’s nice being out on the open water but much more enjoyable if can share with others. Put them on the policy as drivers, that process can be held if they hold the right certifications to qualify them as being knowledgeable drivers.
Read MoreRacing Boat Insurance Claims Warning
Posted by admin on Jan 29, 2011 in Boat Insurance | 0 comments
Every weekend thousands of boat owners take to the coastal regions of the UK and Europe and inland lakes of the United Kingdom but fail to realise that they may be forfeiting their boat insurance cover. Boat insurance claimants lose out simply because they have failed to alert their insurer to the possibility that they will be taking part in competition.
Racing classes accept all types of boats, dinghies and water craft into their weekly competitions but boat owners must ensure that they have adequate cover for racing and competitive sport. The risks are different for boats that are racing up against others at high speed, in such situations an insurer doesn’t have to pay out if the premiums aren’t set at the correct rate for the additional risk.
There are a variety of other situations to consider when taking out boat insurance aside from changing insurance policies if looking to partake in competition. Ensure you’re fully covered for theft and accidental damage when the craft isn’t moored or at a Marina, ensure you’re covered with adequate boat insurance between points and when in tow.
Other factors to consider insuring against are loss and damage to equipment pertaining to the boat as well as contents insurance. Make sure you know the value of contents which can be claimed against so that you don’t risk more than you can get back.
Many make the mistake of signing up to racing classes without thinking about the additional risks which are much great, like collision with another boat, breakage of mainsail, wreckage recovery should your boat sink. All of these events and more can be striked from a policy cover if you don’t get boat insurance which covers competitive sport, which could cost you hundreds or thousands to repair or replace.
Read MoreCheap Boat Insurance
Posted by admin on Jun 13, 2010 in Boat Insurance | 0 comments
Kenneth Grahame once famously wrote, in The Wind in the Willows, that “there is nothing – absolutely nothing – half so much worth doing as simply messing about in boats.” With over 600,000 UK households owning a boat, there are many that agree with those sentiments. One of the most important factors to consider when buying a boat is how to protect your craft, and this is why cheap boat insurance has become a huge growth industry in the UK.
Boat insurance is designed to protect any type of vessel from a small dinghy or rowing boat up to yachts, catamarans, narrow boats, fishing boats or powerboats. It covers accidental damage, theft, fire, the theft of accessories and equipment as well as third party liability.
Boat insurance premiums have been rising over recent years due to many factors. For example, in 2009 the insurers Zurich revealed that it had recorded a threefold increase in the number of falsified boat insurance claims. The total claimed by fraudulent claimants in the first four months of 2009 exceeded the total for the whole of 2008.
It is therefore vital that you shop around for cheap boat insurance, but it is important not to compromise on the quality of your cover. As you may have found in the past, cheap insurance is all very well until it doesn’t pay out on a claim you have made.
There are a number of things that will affect your boat insurance premium. Firstly, there is the boat itself. Clearly, a super yacht that will travel around the world will attract higher premiums than a dinghy that you only propose to use on your local river. The value of the boat, type of craft and the anticipated usage will all affect your insurance premium.
Secondly, as with other types of insurance, your premium will be based on you personally. This includes your previous boating experience (your premiums may be higher if you are a novice) and your previous claims record.
No-claims bonuses are normally available on boat insurance policies in the same way that they are on motor insurance contracts.
Whilst it isn’t compulsory to take out boat insurance, it is strongly recommended. The cost of a boat and equipment can be high and if the boat is to be moored in a marina or harbour, you won’t necessarily be able to keep a close eye on it or your belongings. It’s therefore vital that you protect not only the boat but lifejackets, sails and other expensive equipment.
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