Boat Insurance Tips and Suggestions

Only the foolhardy boat owner doesn't have insurance,where you are going, how long the race is, and when
particularly some third party cover in case of personalyou expect to finish. If you are going on an extended
injury or property damage through accident or collision.cruise the insuring company or broker will want to
The standard insurance form varies little from oneknow much more about the vessel in terms of its
company to the other. You'll be asked questions aboutinternal and external ballast, whether it has a
the design, registered number if there is one,centerboard or lifting keel, what sort of self-steering it
construction, type of motor, the rig, what equipmenthas, the type of construction, and particularly the
and accessories are on board, the sails, mast, standingthickness of the topsides, deck, and cabin top. There
and running rigging and so on.will be a number of items covering radio call signs, the
With motor boats you'll be asked details of the engine,color of various parts, the sort of radio sets and the
whether it is turbo charged, what fuel it uses, and veryfrequencies on board, what radio watch schedule is
importantly, what sort of extinguishers are on boardproposed and more details about the engines. These
and when they were last serviced. The insureritems are needed in case a search has to be initiated.
naturally wants to be certain their risk is as little as itThe insurer will also want to know when the vessel
can possibly be.was last surveyed and have a copy of that survey
When it comes to accessories it pays to be veryattached to the questionnaire. Very importantly, for
careful indeed to list all that you have on board. List theextended cruising you will have to advice your itinerary.
serial number and sums insured on as many of theIf you don't have one you'll need to define by latitude
items as can be insured - items such as personaland longitude the area in which you plan to sail and
effects, fishing gear, cameras, binoculars and transistoradvise the departure date and the date of completing
radios are not insurable. The equipment andthe voyage.
accessories cover actually applies mainly to safetyThe insurers will want some idea of the history of the
equipment required by statute and other equipmentvessel and the ability and experience of the person in
intended for safety use on the boat. The sort of itemscharge. This has a bearing on the premium. Insurance
you can insure are life- rafts, radios, radars, radiois a competitive game, but it is best to deal with a
direction finders, autopilots, depth sounders,company which specializes in marine insurance and so
compasses, and even the dinghy, the propeller, andhas experience. Evidence of insurance helps satisfy
auxiliaries if you have them. But if you intend to gocustoms that the vessel is yours and that you won't
more than 200 km (124 miles) off the coast you'll havebe a burden in their country. A document proving
to fill out a blue water cruising or racing extension. Thisinsurance is very good prima facie evidence of
normally adds about 20% to the premium.ownership.
In the case of races it is straightforward. You say