Compare yacht insurance quotes from leading marine insurers including in order to find cheap yacht insurance that suits your specific requirements.
Buying a yacht can be a significant financial investment and it is important to ensure that you can compare yacht insurance quotes so that you can get the best price for the insurance cover you need.
Yacht insurance is a specialist class of insurance which most of the big brand insurance companies won't insure and we aim to help you compare yacht insurance quotes from leading insurance providers.
The key elements of yacht insurance to look out for include:
- Comprehensive Cover – where possible you should try and insure your yacht for “comprehensive” cover which includes insurance for accidental damage, theft and malicious damage/vandalism
- Theft Cover – check whether your yacht insurance quote provides cover Make sure all items left on the deck otherwise you may need to lock all items away for cover to be in force
- Third Party Liability Insurance – you should obtain a minimum of £1m Third Party Liability insurance for your yacht as this is the minimum requirement for may harbours, marinas, or water authorities and to ensure you have adequate insurance cover in the event of injury to a third party or damage to their property whilst you are using your yacht
- Racing – if you plan to go racing in your yacht ensure you declare this when obtaining your yacht insurance quote as it may affect your quotation
- Chartering/Commercial Use – if you are planning to use your yacht for commercial purposes e.g. to hire it out then make sure that you declare this when obtaining your yacht insurance quote as otherwise cover may be excluded
- Age of Yacht – if your yacht is more than 20 years old a full survey and valuation report may need to be obtained before you can take out your yacht insurance
- UK Registration – most UK insurers will only provide insurance for your yacht if it is registered in the UK
- Territorial Limits – check that your yacht insurance quote covers all of the territorial waters that you plan to sail in
If you are looking for cheap yacht insurance quotes then there are a number of ways you can save money on your caravan insurance:
- Excess - opting for a higher excess will save you money on your yacht insurance quote
- Security - insurance companies offer cheap yacht insurance quotes where appropriate security systems are in place on the yacht e.g. wheelclamps on trailers
- Mooring - insurance premiums can vary according to where your yacht is moored and the proportion of the year that your yacht is out of the water
- Manufacturer - yacht insurance quotes can also depend upon the make of yacht e.g. some insurers offer discounts for specific makes of yacht and so you may want to obtain insurance quotes before buying your yacht
- Qualifications - insurers will generally also offer cheap yacht insurance quotes if you have a relevant qualification
- No Claims Bonus - you can also receive a discount on your yacht insurance quote for more than one year's claim free boating