Why do you need boat insurance?

When pondering life’s important questions, ‘why do I need boat insurance?’ may not always be at the top of your list, but if buying your dream boat has always been a life goal, then the sensible suggestion is to invest in the long-term safety of your dream purchase.

As unbelievable as it sounds, it’s not even scuttlebutt that there is no legal requirement to purchase boat insurance in the UK but be warned, each country will have their own requirements, some will have mandatory insurance requirements such as Italy, Spain and Greece but not all.

If you are the piratical sort and have fantasies of cruising the high seas or the cut, cutlass in tow, then you are unlikely to heed our friendly advice that you need boat insurance. However, if like us, your everyday risk level is attempting to upgrade to the next heat sauce level in Nando’s or listening to the latest serial killer podcast is as risky as it gets, then we would suggest that protecting your boat is worth it for your own peace of mind. We think boating should be a relaxing way to spend your free time and if you are worrying about bumps, scrapes or some other shenanigans then boat insurance is more than worth it to remove any of the stress from your days out.

Boat insurance is actually very similar to other insurance, it financially protects you in the event of any accidents or damage that may happen when using your vessel out on the water. All policies vary in coverage so it’s important to check what type of boat insurance coverage you will need; whether you are a cruiser, a racer, a pirate or a Reginald Perrin then always check your T&C’s and make sure they have you covered.

If you are a confident boater, that imaginary parrot on your shoulder may be squawking in your ear ‘do you need boat insurance?’, but far from us to contradict Polly, remember that you may not be the liability here.  Boat insurance not only covers you against any foul winds but remember any landlubber or gongoozler can buy a boat and with 3rd party liability insurance, it means you are covered from other’s accidents as well.

Those who like to sail the smaller variety may ask, ‘do I need boat insurance for my dinghy?’ and to borrow the Snail and the Whale you may feel so small, but the water can be deep and the world is wide.

Finally, if you plan to spend your life drifting across the high seas or cruising the cut, it’s important to note, the Canal and River Trust, Environment Agency do require insurance for river and canal use and most coastal marinas require boat insurance before they let you berth your vessel, with all those valuable vessels in close quarters they are not taking the risk of you getting into a major scrape. It’s also worth remembering that boat insurance is a legal requirement in other countries so remember to sort it out before you disappear over the horizon.

In summary – do I need boat insurance? Well that depends on which country you are moored or cruising, so it is always best to check. But for your own peace of mind we think it’s a pretty nifty thing to have in tow.