Do I need Speed Boat Insurance?

For those who've invested in a speed boat - or just about any other kind of vessel - insurance is something to be considered. In the UK, there are a growing number of specialist marine insurance brokers who provide cover for every kind of boat from speed and motor boats to canal boats and canoes.

Of course, there are also other insurers, general insurers who provide cover for boats along with their other range of policies. Needless to say there is no shortage of choice when it comes to finding insurance policies for boats, the question is do you need it?

Like a car, having boat insurance is generally a sensible option. It covers you against theft and damage to your boat and - depending on the policy - can cover you against liability issues as well.

Speed boats are generally quite expensive, certainly not pocket change, and dishing out a few pounds a month to insure the boat against factors which could end up costing a considerable amount of money is seen by most to be a wise and sensible choice.

So if speed boat insurance is a good idea, and many presume it to be, what exactly should you look for in an insurance policy?

The first and most important thing to look for is cover against theft and damage. These two factors cause the biggest costs to boat owners, and having an insurance policy will safeguard you against unwanted costs.

Some policies will only cover the boat, while others will cover any equipment you have on board such as life jackets and buoyancy aids. If you are unsure as to whether or not your insurer covers this, be sure to ask before signing anything.

Liability is also an important part of the policy, and like with cars this can also come in various forms such as third party only or fully comprehensive.

Personal accident cover is also an important factor to look out for as this will cover you for medical treatments should something go wrong.

For those who plan to use their boat travelling, European or international cover can come in useful. Many speed boat insurers provide this as cover for a set number of days. If you are planning on travelling for longer be sure to speak to your insurance company to see if they can upgrade your policy to allow for additional cover abroad.

For those planning on buying speed boat insurance, the internet is a great source of information for both research and to compare policies and quotations online.

To compare speed boat insurance quotes from marine cover policies such as E&L's speed boat insurance or Insuremyboat's cover for speed boats, visit compareaholic.co.uk

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