A Buyer's Guide to Speedboat Insurance
Posted by:GJW Direct | May 4, 2021
When it comes to choosing boat insurance for your newly acquired vessel, it can be difficult to know what you need to be aware of whilst researching boat insurance providers. That’s why we’ve put together this guide which answers the most common questions we get asked when it comes to purchasing speedboat insurance. This way, you can make an informed decision about what’s the best route for you.
Do I need speedboat insurance?
In the UK, you are not required to have boat insurance for your vessel if your only voyages will be at sea, however if you’re looking to navigate any inland waterways, you will be required to have insurance in order to get your boating licence. Most council owned and commercial slipways will require a minimum of third party liability cover.
Acquiring boat insurance also means your speedboat is protected against any unforeseen damage that could result in a hefty payment to fix. It also means you’re protected from any third party injury or damage that’s caused by you.
What am I covered for?
Third party liability £5,000,000
24 hour staffed emergency claims helpline
Excellent financial security
Friendly personal service
Rapid claims settlement
Protected no claims bonus
What are the benefits of speedboat insurance?
Acquiring speedboat insurance gives you peace of mind when venturing out to sea with your vessel. Taking out a policy with us provides you with cover for 30 days European (EEA), transit and trailer, as well as waterskiers and other towed items.
As an added bonus, customers can also access exclusive discounts for a number of recognised marine brands such as Sailing Chandlery, Sunsail, and Spinlock when they sign up to our digital organiser MyBoat.
What are the exclusions to my insurance?
- Any damage caused by lack of general maintenance or wear and tear
- Damage or loss as a result of war, civil disturbance or terrorism
- Damage or loss caused by any marine growth or insects
- Your craft when left unattended on a trailer unless it has been properly secured
What are my obligations?
This will vary depending on your insurance provider, but in general you’ll need to:
- Perform regular maintenance on your vessel
- Keep your insurance provider up to date with any personal information or changes to your vessel
- Report any and all incidents or accidents to your vessel as soon as it happens
- Make sure your insurance provider is aware if you sell or dispose of your craft
- Ensure all scheduled payments are paid in full
- Ensure the minimum required number of crew members are aboard when using your craft
Where can I buy speedboat insurance?
Here at GJW Direct, we offer a comprehensive speedboat insurance policy which encompasses a range of benefits including excellent financial security and third party liability up to £5,000,000. Find out more about our comprehensive policies on our website.
Are you looking for first-time insurance or thinking of switching insurers? Get a quote for speedboat insurance with us in minutes and you can even purchase online.
Recent years have seen a rise in the trend of electric foiling boards (sometimes better known as ...