Canal Boats
Marinablu International Ltd
                           
All your canal boat, yacht and marine finance solutions in one place

Narrowboat Insurance

canal boats As well as a licence, you will also need narrowboat insurance, and the type of cover will depend on whether you are proposing to use your boat just for pleasure or as a liveaboard - canal boats, can and do sink, catch fire and cause damage to other waterway users so you need to be covered for all eventualities, and with new boats costing up to £100,000 this is simple common sense. Many owners fail to insure their canal boats adequately, and some fail to insure them at all, usually because they only take the boat out for a few days each year, or because they feel the value of the narrowboat does not warrant the insurance premium. This is foolhardy in the extreme - losing your own property due to your negligence  is your own fault, injuring or killing someone else is unforgiveable. Sadly it happens every day on the roads, and is just as likely on the waterways of Britain. Whatever type of canal boat you have, you must take out suitable insurance with a reputable company, and renew it every year. So what are the key points of a good insurance policy? If you would like a quote for your narrowboat insurance please just click on the link which will take you to the bottom of the page and a simple form.

Narrowboat Insurance Policies

All narrowboat insurance policies will be different and vary in the annual premium, and as a rule I never accept the cheapest, whatever I am insuring. In order to try to provide a checklist for you, below are the main items which we believe should be covered in any comprehensive narrowboat insurance policy

License Type Key Points
Public Liability This is the minimum cover required, and often called 3rd party - in other words you are covered for injury to other people should they make a claim against you. The minimum cover should be £2m and higher if possible.
Fire, theft, accidental loss or damage The policy should pay 100% of any agreed values in the policy. So if your boat is subject to a total loss or partial damage in the event of fire, theft or accidental damage, then the policy should pay the total amount as stated. In the case of liveaboards this is vital as fire and theft are constant hazards.
Personal belongings Insurance cover for personal items is always a tricky area, and you will need to check the small print to make sure you have complied with all the security requirements of the policy in order to claim. Items lost through your own negligence or carelessness or lack of reasonable security will not be covered. In general look for single items around £250, and generally a total value of around £2500 should be adequate. High value items such as cameras and laptops will need to be advised separately. Check the small print for cash and credit card cover.
Personal accident The policy should include cover for personal injury, accident or death. The benefits may vary according to age, but generally a lump sum payment of around £15,000 is standard.
Salvage charges Make sure that your policy covers any salvage costs, should the worst happen. This should be an agreed value within the policy and will cover your costs in full for saving your boat from total loss.
Sighting costs If you run aground and the hull requires inspection, then again the costs will be covered in full at an agreed policy rate.
Wreck removal Should your boat sink, then the policy should provide full cover at an agreed rate for the removal and disposal of the wreck.
Loss of keys Accidental loss of keys, and subsequent lock changing does happen, so make sure you're covered. most policies will pay a lump sum for this cover - £500 to £750 is normal.

 

Naturally it is impossible to provide any firm guidelines with regard to annual premiums as these will vary widely depending on the value of the boat and the additional items covered in the policy, but in general premiums will vary from £200 for smaller canal boats, up to £350 - £400 and above for larger boats. I hope the above helps as a guide to insuring your boat, but please do read the small print and make sure you are happy with all the details in the policy. As a rule of thumb never take the cheapest quote, and always assume the worst case scenario!  If you would like a quote for narrowboat insurance for you canal boat, please just complete the following simple details below:

Canal Boats Insurance Quote

Canal Boats - Personal Details :

First name:   

Last name:

Email address: 

 Please confirm email address:

Canal Boats - Boat Details :

Year: Type:

Boat name:  Last survey date:

Hull Material:

Length: Metres/Feet:

Beam: Metres/feet:

Number of Engines:   Horsepower:

Maximum speed:   Engine Make :

Place and type of mooring:

Proposed cruising area:

Other cruising areas:

Canal Boats - Insurance Details:

Use of the boat:

Value of boat incl. entire equipment inventory:

Value of personal effects and belongings:

Any claims in the last four years:

If yes please provide details:

Qualifications & experience:

Personal injury & property damage :

    

 

Now let's look at one of the most important aspects of any boat ownership -  safety on board -  and before we move on to look at surveys and sailaway schemes, I would like to explain the Boat Safety Scheme, designed to promote safety and good practice on inland waterways.

Canal Boats - next page

Marinablu International Ltd is an Introducer Appointed Representative of  Pantaenius UK Ltd who are authorised and regulated by the Financial Services Authority (FSA)  - narrowboat insurance