Motorboat insurance

We can cover a wide variety of boating vessels which are grouped as follows ‒ click the appropriate link for more information:

• Dinghy insurance
• Yacht insurance
• Narrowboat insurance
• RIB insurance
• Motorboat insurance
• Small boat insurance
• Paddleboard insurance
• Windsurf insurance

While it is not usually a legal requirement on most waters, having appropriate cover makes sound financial sense. Marine mortgage companies for instance insist on compulsory insurance as part of their money lending process. However, there are two stand-out reasons why boat insurance is important:

1. Firstly you have to protect your capital investment against loss or damage which ultimately could result in a large and costly repair bill if the worst were to happen.
2. Secondly having adequate boat insurance can help to protect you against any third party liability for injury or damage caused by you or your vessel. Third party liability is usually the most frequent claim we receive when it comes to boat insurance.

From a small dinghy to a large super-yacht or a super-fast Jet Ski, each type of vessel will attract a different level of risk, so just like car insurance - boats are usually categorised according to their vessel type and risk.

It goes without saying that a Sunseeker with powerful engines that costs a million pounds will be far more expensive to insure than a smaller, much less powerful craft.

A yacht will also have a different risk assessment than a dinghy or a jet ski, so insurers will factor in the type of the vessel and any potential repair bills before calculating the premium.

In general, the actual size of the boat isn't as important as its value, how easily it could be stolen and the potential for damage. If your boat is trailer-able and spends a large amount of time safely tucked away on your drive, you'll probably pay a different premium than if it was stored at a marina.

The area in which you keep and use your boat will also have an influence on the level of premium you pay and may have restrictions on cover that are subject to local weather conditions.

Finally, the experience of the owner / users and the type of use i.e. whether it is used privately, as a charter or racing vessel and of course any previous claims experiences are all taken into consideration when calculating the premium.

The level of premium is obviously important but it should not be the sole deciding factor: you should try and strike a harmonious balance between costs vs. benefits.

All policies are different, so make sure you choose one that provides the cover you want and need. Handy tip - assess the most expensive parts of your boat and check that your policy provides cover for damage to these, as well as what deductions may apply in the event of a claim.

• Are any replacement costs issued on a new-for-old basis?
• Exclusions - make sure you look out for any exclusion in your policy. All policies have them, so check your wording very carefully.
• Ensure that the policy covers any cruising grounds you wish to sail into.
• Finally, make sure the insurer is authorised and approved by the regulatory body of the country in which they are based; here it is the Financial Conduct Authority.

Any physical damage covered by a boat insurance policy will usually include equipment such as hull, sails, machinery, furnishings, on-board equipment and the trailer if applicable.

Standard cover generally provides:

• Accidental damage, including fire, theft and malicious damage, sinking, stranding, collisions and salvage costs.
• Damage to engines.
• Transit risks up to 30 feet in length.
• Lifting and launching risks.
• Loss or damage caused by latent defects.
• Frost.
• Personal effects.
• Damage to mast and rigging whilst racing can be purchased for an additional premium.

Third party cover provides:

• Protection for you, or authorised persons using your boat, from claims made by third parties for death or injury or damage to third-party property for which you may become legally liable.

Typical policy exclusions include:

• Damage caused by wear and tear.
• Wilful misconduct.
• Loss of value due to age of vessel.
• Losses caused by corrosion osmosis.
• Mast, spars and sails whilst racing unless the policy has been extended.
• Damage to machinery following breakdown.
• Theft unless the right security devices or locks are fitted.
• The policy excess relating to damage caused by you and also on any third party claims.

Yes. All new policies sold online and renewals can be paid for by Debit and Credit Card. Some policies have an option to pay by finance which is offered via Close Brothers Premium Finance. 

Whilst not offered online, some Insurers may also offer a direct debit. Please contact us if you wish to learn of different methods of payment and whether Direct Debit is offered or if you wish to pay via finance.

We make individual client administration charges per policy (up to a maximum of 3 policies, per policy period) to cover the costs associated with administering your insurances e.g. arranging a new policy, carrying out short-period or mid-term cancellations, mid-term changes, providing replacement or duplicate documents and for other administrative tasks. We will advise you of the amount of fee before you become liable to pay it. Individual charges will not be made in relation to employee benefit related products.

Our portal provides 24/7 access to your account and policy documents.

The portal enables us to be more environmentally friendly as we reduce the amount of printed policies and adopt a digital approach.

To access your documents, simply log into your Account, click on "Your Policies" and then select the "View" button  on the policy. From here you can download the document if needed.

Please note that under your account, there is a button titled "Documents". This button is for uploading documents and not for accessing your policy documents.

Log-in to portal

Yes. You can manage your policy renewal online. We will inform you by email within 28 days before your renewal date and upload all your renewal documentation onto the portal for you to review.

If you have not heard from us prior to the renewal, please check your documentation carefully in case there has been a change to your circumstances to prevent accidental underinsurance or a gap in cover.

You can also make payment online for your renewal by card and where applicable by Premium Finance or Direct Debit. If you had paid your previous years policy by Direct Debit, please contact us as it is not uncommon for renewals on Direct Debits to renew automatically.

Please don't assume your policy has been renewed until you have received confirmation from us. 

If you are concerned about your policy, please call us prior to the date of renewal and one of our Team will be happy assist you.

Unfortunately you can not make changes online. If you need to make any changes to your policy please contact us on 0204 579 8057 or by email at insurance@bishopskinner.com.

Any cancellation will also need to be handled offline. Please note that all policies are contracts and there may be stipulations that could affect any refund amount due. Such examples include:

• Any claims made within the period of insurance (excluding claims made in previous years unless made under Professional Indemnity or claims that have been settled as non fault or where the claim has been settled with no payment being made).
• The Insurers terms and conditions stated within the Policy Wording states that any cancellation in cover are non refundable.
• Some Insurers may place a condition that if a refund is below a set amount, there will be no refund due to processing fees.

Should you wish to discuss this in more detail or to check if any of the above applies to your policy, please contact us and one of our Team will advise you accordingly.

The knowledge that experienced claims professionals will support you is just as important as the policy cover.

Our dedicated in-house claims team will be by your side, fighting your corner from start to finish. We promise to be there when it matters most.

Our claims service