Who has the cheapest Boat Insurance?
Boat insurance premiums can vary from insurer to insurer depending on a number of factors including the type and age of your boat, how your boat is used and stored, and the value of your boat. An insurance broker knows the market, and can help you source boat insurance cover that suits your needs at a competetive price. Call us at Northern Insurance Solutions now for a quote!
Why do I need boat insurance?
Boat insurance can protect your boat against accidental damage, fire, storm and theft. It can also protect you against legal action by third parties who suffer death, injury or property damage as a result of your negligence. Boat insurance is vital in protecting your financial interests whilst on the water.
How much boat insurance cover do I need?
Everybody’s situation is different and many insurance policies are different. Some boat insurance policies will provide ‘new for old’ replacement cover until your boat is 2 years old. If this is the case for you, you should consider insuring your boat, motor and trailer for what it would cost to purchase the items brand new. For all other boats your policy is likely to only pay you the fair market value at the time or loss. You should therefore insure your boat, motor and trailer for the price you could sell them for. Your local boat dealer may be able to assist with establishing a fair market value.