Additional Items - How to Insure Them

In a pleasure craft insurance, the term "vessel" is defined as:

"The vessel herself, her machinery, boat(s) gear and equipment such as would normally be sold with the vessel".

It follows, therefore, that anything that would not be sold with the vessel, may not be covered.

To make sure that the cover is "set up" correctly it is important that the sum insured fully covers all the other bits and pieces.

a) Dinghies & Tenders

These should be specified individually and individually valued.

• For cover on a tender or dinghy to be in force the tender or dinghy must be permanently marked with the name of the parent vessel.

b) Outboard Motors

These again should be separately specified, with the full details, and individually valued.

• This value should be the current market value as this is the basis on which a claim would be paid.
• Keep a record of the serial numbers.
• If the outboard is to be left attached to the vessel it must secured by an appropriate anti-theft device in addition to the normal method of attachment.

c) Trailers

These, again, should be separately specified and valued.

• The trailer should always be immobilised with a wheel clamp when left unattended.
• The trailer should be indelibly marked in a unique way to aid identification.

d) Liferaft

Again these should be separately specified on the Certificate of Insurance. If possible, they should also be marked in a unique way.

e) Personal Effects

This extension is not intended to be a replacement of the "All Risks" section of your Household Insurance.

While it is wise to include a sum under the insurance to cover such personal items, which may be left on board when the craft is in use but taken home when she is not, there are restrictions and limitations which should be borne in mind:-

1. There is usually a limit of, say, £250 any one unspecified item. This means that any item of a value of more than £250 is not covered unless it is specified and agreed by insurers.
2. The cover is only effective while the property is on board or in transit to or from the home of the boat.
3. The cover only applies to the property of the owner or the owners family. The property of crew or friends is not covered.
4. The cover excludes cash, currency, travellers cheques, credit cards and the like.
5. It is important that the sum insured is adequate as, in the event of a loss and it being discovered that the total value of the items on board exceeded the sum insured for those items, any payment will be reduced in the same proportion as the value exceeds the sum insured.

It is also essential that your insurer is advised of any major changes by way of additional items bought after purchase or a subsequent renewal. Unless insurers are told – they may not be insuring such items.

The above is for information purposes only. It is not intended to define legal terms nor is it intended to affect the interpretation of any policy we may issue.

If you have any questions concerning your insurance, there is no replacement for having your individual questions answered individually by your insurance broker or insurer.