Are you the proud owner of a motor boat or cruiser? Do you enjoy whizzing up and down the British coastlines? Have you considered investing in motor boat/cruiser insurance? If not, its high time that you thought about the benefits to obtaining adequate cover, and the risks involved in not being covered.

motor boat insurance is not required by UK law but it is still an essential purchase, particularly as numerous moorings and waters insist that you have full insurance in place before you are granted access. This is usually stipulated in order to protect others as if you damage someone elses property, or your motor boat is the cause of injury, as the owner you are liable for any costs involved. If you have third party liability cover these expenses will be covered by your motor boat/cruiser insurance policy, but if not, the money will be coming from your back pocket.

When discussing your requirement with an insurance provider, you should expect third party liability cover to be included as standard but always confirm this first. Most motor boat/ cruise insurance policies should be able to offer you much more protection than this basic level of cover. A more comprehensive policy could include cover for accidental damage, travel to Europe or any other international destination, personal accident cover and many more. It is essential that you fully understand your needs before purchasing a policy as you need to be covered in every eventuality.

The cost of motorboat/cruiser insurance depends on a number of factors such as the age of the vessel, the size and its speed. There is a reduced insurance risk for any vehicle which is unable to travel over 17 knots, and as such your insurance premium is likely to be cheaper. If your vessel is worth over 50,000, is above 23ft long and older than 25 years, you will have to have further discussions with the provider before they will grant you motorboat/cruiser insurance. There is a lot to be taken into consideration so ensure that you obtain adequate cover and not a policy unfit for purpose.