How can a broker help you insure boats? | Finance Fox

Whether you enjoy the thrill of tearing along the water in a speedboat or like gently cruising down a river in a yacht at the weekend, I think boats are fantastic luxury vehicles to own, be it for leisure or racing purposes. If you do possess one, however, it is vital you invest in comprehensive insurance.

Although it may not be something you initially give too much thought towards ? especially if you have just bought a new vessel ? it is crucial that all boat owners have a good standard of cover. Indeed, it?s an idea to treat insuring a boat in much the same way you would a luxury car. This is why, I think, you ought to call on the services of an insurance broker.

Indeed, high street insurance companies are often unable to provide cover for a boat, after all it?s not something that the average Brit is likely to own. So, if you want the peace of mind that you?ll be protected while out on the water you should turn to an expert broker for help.

As organisations such as these have close working relationships with specialist insurance providers, they are able to offer you policies that have been tailored to meet your specific needs. Just like sports cars, luxury boats tend to have a high price tag attached to them and, in the event that they are damaged by vandals or require repairing, can be expensive to fix. Without a sufficient insurance policy, however, such costs are likely to have to come out of your own pocket and, as they can run into several thousand pounds, could leave a major dent in your wallet.

By seeking out cover through a broker, however, you ought to find you have a wide-ranging policy that will protect your watercraft without resulting in financial loss.

Of course, the specific level of cover you choose to obtain will depend on a range of factors ? including your budget and the type of vessel you own ? but it?s definitely worth getting third-party liability insurance. That way, you?ll be protected if you end up damaging another boat while out on the water. If you enjoy racing your vessel, meanwhile, I think it?s worth seeking out additional cover. Although certain boat policies may cover racing as standard, in other cases you might need to pay an additional premium to be protected.

If you are looking to insure your boat, it is vital that you make as much effort as possible to safeguard it. In just the same way as you would protect a luxury car by keeping it in a garage when it is not in use, you ought to keep your yacht or dinghy securely tied down in a marina mooring. Doing so should not only make it more difficult for thieves to steal, but could also enable brokers to provide you with cheaper cover. Holding sailing qualifications, such as the RYA Yachtmaster Offshore certificate, and building up a no-claims bonus should also help you to get a discount on your policy. Of course, these are things you ought to tell a broker about so that they can help to secure you a protection plan that meets your needs perfectly.

Whether you have a luxury yacht or a motor cruiser, by turning to organisations such as?Certis Insurance brokers?you can be confident of getting comprehensive cover for high-end assets.

Do you own a boat? What have your experiences of insuring it been like?

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Source: http://www.financefox.co.uk/how-can-a-broker-help-you-insure-boats/

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