The Importance of Marine and Boat Insurance

The Importance of Marine and Boat Insurance

Marine insurance and boat insurance can be vitally important, but what does your floating vessel or cargo business require? Here at Coversure Rugby we know the marine market, and to help you out we’ll be producing articles around marine and boat insurance, so no matter if you own a personal yacht to a motor boat or a cargo business, here at Coversure Rugby we can help you.

In this article we look at what can be covered and how to save money on your policy. If you need any help with your insurance or to get a no-obligation quote, feel free to contact us by calling 01788 878044 or click here to find out full contact details

What Can Be Covered?

Between marine and boat insurance a wide range of businesses and vessels can be covered, in this part we have a brief look at just some of the businesses and vessels that can be covered under these policies.

Boat insurance is generally the cover of floating vessels, this can cover a wide range of boats and yachts, including personal and commercial boat use. To give you an idea of what can be covered by boat insurance, we have included a list of just some of the vessels that can be covered:

  • Motor boats
  • Yachts
  • Sailing boats
  • Sport boats
  • Dinghies
  • Commercial vessels

Marine insurance is normally the cover of either larger vessels or businesses that rely on vessels for their income, such as a marine cargo business. This cover can be an all-encompassing policy and can include the multiple policies under one single policy, making it easy and convenient, and in some cases cheaper than having separate policies. As an example, an import/export company may have their own warehouse near the harbour, this can be covered under the policy.

Insurance Tips

Here at Coversure Rugby we want you to get the best policies possible, but we also want to help you get a great price, in this section we look at a few ideas that may save you money on your insurance and help make sure you don’t over spend on your cover.

Check Your Cover

Make sure you check what is included in your cover, and your cover levels. If you have cover you don’t require you may be able to remove it from your policy, but this works both ways, while removing cover might save you money you will need to make sure you have all the correct covers. So, make sure your insurance covers everything you need it to.

While getting the correct cover is important, so is getting the correct cover levels. Cover levels are the amount you are covered for, as an example if your vessel is worth £500,000, you want you cover levels to match. If you have higher cover levels – in this case £600,000 – your insurance may increase in price, meaning you pay more than you need to. The flip side is you need to have enough cover, not enough cover may mean the insurer doesn’t pay out for the full amount to replace or fix your vessel. Getting the right level of cover is vital, make sure you don’t undervalue your vessel or its contents.

Use An Insurance Broker

Of course, we would say this, as we are an insurance broker, but there are many reasons why you should use an insurance broker for your insurance, and here is just a few of these reasons:

  • Correct cover – an insurance broker, such as a Coversure Rugby can advise you on your insurance, this can help make sure you have the correct cover and cover levels in place
  • Save time – why talk to different insurers yourself? Insurance brokers may have a wide range of insurer options they can look at for you, this could mean you could save time and let an insurance broker do the work for you
  • Save money – an insurance broker doesn’t just look for the best cover, they can also look to get you the best price on your insurance cover.

Like To Know More?

Here at Coversure Rugby we pride ourselves on the service we offer. If you need any help with your insurance, even if it is just a question, feel free to contact us by calling 01788 878044 or click here to find out full contact details

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