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We have people often ask about insurance for a houseboat or liveaboard boat so in this article we will be looking at insurance.
Insuring your boat is now almost a necessity as more and more marinas, boatyards and mooring operators insist on your boat being insured for a minimum of third party damage before you can moor your boat at their moorings.
This is to protect against the possibility of your boat causing damage to another boat on its mooring or whilst manouvering within the moorings.
If your boat should break free from its mooring in bad weather and damages another boat you could end up with a large bill if you do not have third party insurance. The same goes for manouvering within the moorings.
Third Party insurance is reasonably easy to obtain for most types of boats constructed of almost all construction meterials. Third Party insurance covers you for damage to another boat and/or property belonging to others such as property of a marina and navigation authority. It does not cover any damage to your boat or total lose of your boat.
If you own a static houseboat or permanently live on your boat with all your possessions you may want to take out a Comprehensive Insurance Policy that covers both damage to third parties and damage to your boat including total lose.
Comprehensive insurance is more expensive and policies can vary a great deal. As with all insurance you must read the small print and be sure the policy is suitable for your needs. Some policies cover you only in certain areas such as inland waterways, rivers and coastal and world wide blue water cruising so check you have the right one for the type of cruising you do.
Many insurance companies that offer Comprehensive policies will require a copy of a current survey of the boat before a policy is issued, if you do not have a current survey report getting one will be an additional cost.
One other thing to remember with Comprehensive policies is that many insurance companies will not insure boats of certain construction meterials. Before buying a boat it is wise to check if you can insure it first. Boat insurers do not like insuring wooden boats on a Comprehensive policy and it is getting difficult to find a company that will. If you do it could be very expensive. The same is true for Ferrocement construction. Boats of other construction materials are less difficult to insure so it is wise to think about this if you are looking to buy a boat.
To find a good list of companies that offer boat insurance visit http://www.uksail.com/mservice02.htm
We do stress that you make sure the policy suits your needs and offers appropriate cover for your boat.
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