Canal Boats - Insurance
As
well as a licence, you will also need to insure you canal boat, 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 boat 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
canal boat insurance please just
click on the link which will take you to the bottom of the page and a simple
form.
Canal Boats - Boat Insurance Policies
All boat 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 boat 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 insurance for you canal boat, please just complete the following simple details below:
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 for strong>canal boatstrong>.
Marinablu International Ltd is an Introducer Appointed Representative of Pantaenius UK Ltd who are authorised and regulated by the Financial Services Authority (FSA) - canal boats