| As with all vehicles a boat is legible for an insurance | | | | narrow boat. This is because fibreglass hulls can be |
| policy, under the Marine Insurance Act. While some | | | | damaged or dented very easily while steel hulls for |
| small boats kept on your premises can be covered by | | | | example are very hard to cause any significant |
| home insurance, Marine insurance can cover not just a | | | | damage to. You can get cheaper insurance for diesel |
| seafaring boat but also the goods, as throughout | | | | powered boats, as they are less likely to explode, and |
| marine history ships have been lost with very | | | | also for using coast guard approved fire extinguishers. |
| expensive cargoes aboard, due to the dangerous | | | | A certification in a boat safety course may also |
| nature of sea voyages. | | | | reduce insurance. |
| Boat insurance is often cheaper than car insurance | | | | It also depends on where you intend to sail the boat. |
| especially for a small boat. A comprehensive plan will | | | | The boat will be in a different insurance category |
| cover damage to the hull, the machinery and the parts. | | | | depending on whether you intend to sail it in canals |
| It is also worth checking if the plan covers theft, injury | | | | (least expensive), rivers, lakes and tidal waters (more |
| and any specialist equipment on board like fishing | | | | expensive) and the ocean. |
| tackle. | | | | There are also insurance policies for special |
| Insurance varies a lot depending on the boat. Narrow | | | | circumstances. You can have a boat insured for |
| boats, speedboats, dinghies, yachts, rowing boats and | | | | damage while it is being built, or for a vessel sailing into |
| motorboats all have different systems for working out | | | | a war zone or terrorist associated waters, or for |
| a quote. A fibreglass boat (usually GRP, glass | | | | specific cargoes such as highly perishable goods that |
| reinforced plastic), like most speedboats, is in a higher | | | | may fail due to delays. |
| insurance band than a wooden or steel boat such as a | | | | |