Peace of mind policies
When conditions are right, there’s no more thrilling an experience than taking your RIB out on the open water. So you’ll need insurance that matches up to the highest levels of performance and reliability to ensure that you’re properly protected. With over 30 years’ experience in boat insurance you can be reassured that we understand your needs, and offer a 5 star rated “All Risks Boat Insurance Policy” to keep your pride and joy fully protected out on the water. In addition to this, we also offer “Third Party Only” to ensure that if your speedboat injures or damages other people or property you’re always covered.
Global Product Lead - Yacht
We are experts in underwriting, with both technical capability and deep knowledge of the areas we insure.
What does it cover?
All Risks Cover
- Cover for loss, damage, theft and third party liability
- Agreed value policy
- Outboard motors and tenders covered up to £350 without declaration (increases available)
- Emergency Medical Expenses and Personal Accident cover is provided
- No excess deducted for loss or damage claims caused by an uninsured third party
- No excess on claims that arise while your vessel is moored on a pontoon berth or in a marina
- No excess deducted for claims relating to third party
- Optional cover for the towing of water skiers and water toys are available
- 10% discount if moored in a UK marina
- Option to add Marine Legal Protection cover
Third Party Only Cover
- Cover for damage to any other vessel or property that you are legally liable to pay
- Cover for death and injury that you are legally liable to pay
- Cover for pollution that you are legally liable to pay
- Cover for emergency medical expenses and personal accidents
- No excess deducted on this policy
Insurance is not compulsory in the United Kingdom however, increasingly Marinas and Harbour authorities require Third Party Liability as a minimum. Likewise many countries will ask for proof of insurance upon arrival of at least a minimum of Third Party Liability Insurance. For example, it is law in Spain, Italy and Greece that a Certificate of Insurance is issued to show that there is a minimum of third party liability in place. This document must show the level of cover and must be written in the local language which we can provide you with.
Apart from the restrictions noted below, it is usual for an insurance to cover anyone driving your boat with your permission. It is worth noting however, that minors under 18 years old are not usually covered to drive the vessel without an adult being on board and in charge at all times. If there is someone who will regularly use the boat, whether or not you are on board, it is advisable to inform the insurer. Give details of the name, age, record and experience, together with any claims history of this person.
Anyone borrowing the boat should also be made aware of any limitations to the insurance, in particular, where the boat may be used or moored. Under our MS Amlin All Risks Boat Insurance Policy there are specific references to restrictions as to who may "drive" the boat as below:
- If you give permission for someone else to be in charge of your vessel you must take steps to ensure they have the experience to do so.
- There is no liability cover for anyone operating, managing or working upon the vessel who is employed by a shipyard, repair yard, marina, yacht club, sales agency, delivery contractor or similar organisation. Therefore if anyone covered by these categories is going to drive your boat it is essential that they confirm they have their own professional indemnity cover.
- If you are lending your boat for any form of "consideration", this will not be considered “private pleasure use" and will be deemed "hire or reward". This use is normally excluded under insurance policies unless insurers have given their prior agreement to such use.
- If you are arranging for a delivery skipper to sail or deliver you vessel you should obtain a copy of the skipper and crews sailing CV and make sure that they have the appropriate Professional indemnity insurance in place as insurers will often want to see this prior to agreeing cover.
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.
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