Green narrowboat cruising down a canal

Who provides the best boat insurance?

In the event of something bad happening to your boat, you will want to be sure you are safely covered.

Boat insurance isn’t a legal requirement for every boat in the UK. However, there are a few circumstances when you do need to have it. Such as if you are keeping a boat in a marina or harbour, getting marine finance to buy your boat or for sailing in other countries.

Generally speaking, when investing thousands of pounds into something like a boat, it is recommended to insure it.

Narrowboat moored in a city

How much should I expect to pay?

Like all things you insure, boat insurance can also vary in price depending on the type of insurance you want. However, the price will also vary depending on a few factors;

  • How big your boat is
  • How old your boat is
  • Where it is your boat will be kept
  • What your boat is made out of
  • The type of boat you want to insure
  • What you plan on using the boat for (charter, pleasure etc)

The price can be reduced if you have qualifications in sailing such as being a qualified skipper or helmsman for example. Also, just like car insurance, you can gain a no claims bonus from previous policies.

Insurance Companies

There are many insurance companies out there. Some of them are very clear and explain easily what you will or won’t be covered for. Others are more tricky to navigate and there may be a lot of things hidden in the small print.

Narrowboat insurance

Narrow boats areal shot

For narrowboat’s, the Inland waterways association recommend using one of two insurance companies;

  1. Navigators & General
  2. A plan

These two companies have teamed up with the Inland Waterways Association to offer the best available cover. Each policy purchased through these two insurers helps the IWA by allowing them to further their charitable work for the waterways.

Navigators & General insurance have a variety of benefits such as cover from theft of equipment both inside and outside of the boat, free personal accident cover for you and your guests and £3 million third party and passenger liability cover.

A Plan insurance also have various benefits including contents cover for both residential and non-residential boats, 25% no claims bonus and £100,000 legal expenses cover.

Be sure to read everything carefully, especially when it comes to salvage should the worst happen. Some insurance companies will not cover for salvage should you boat sink and the recovery costs can be thousands of pounds.

Getting your narrow boat insured is something you should dedicate the time to considering. Just remember that putting in the time and energy will be worth your while in the end.

Yacht insurance

moored yacht

Just like narrow boat’s, your yacht doesn’t legally have to be insured. However, you will find that a lot of marinas require a minimum of third party cover. You’ll usually need a  minimum of £3 million third party liability insurance at most marinas.

Just like with any type of boat, we recommend you have insurance due to the high value of the yacht itself and the potential for injury.

For insuring your yacht, we would recommend using;

All three companies offer a variety of benefits.

Insure 4 boats insurance offer a lowest price guarantee.

Admiral Marine insurance offer a no excess fee if you are struck by another vessel when moored.

Insure my Boat insurance offer insurance on your yacht’s underwater gear against any damage it incurs striking an underwater object.

We highly recommend reading everything through thoroughly before committing. You don’t want to be left with a hefty bill should the worst happen and you believe to be covered when in fact you’re not.

Fishing boat insurance

Fishing boat at sea

Fishing boat policies need to be flexible. This is because depending on the type of vessel you have and what you intend to use it for will vary the policy immensely.

We have found these three companies that do just that.

Again, all three of these companies offer various benefits.

Curtis Marine Insurance offer wreck removal and a no excess fee to pay for any liability claims.

Insure 4 Boats insurance offer a 10% discount if you moor your boat in a recognised marina.

Porthcawl Insurance Ltd offer crew liability cover.

So no matter the type of fishing boat you have, be it a small craft for short trips or a larger commercial boat, these insurance companies will be able to offer you the best personalised insurance policy.


We hope you found this information helpful. Take a look at the following websites for further information about insuring your boat.

Canal River Trust

Gov.uk – boats and the waterways

Inland Waterways Association

RYA

Sailing Today

Gov.uk – owning a boat

As always, if you have any tips or advice, please feel free to share it in our comments below. We love hearing from you!

Owatrol Team
About Owatrol Team

Our team are ready and willing to support you with your requirements whether it is protecting your newly laid deck or renovating a luxury yacht, whatever the application Owatrol has the solution you are looking for.

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