Nov 29, 2023

A comprehensive boat insurance policy typically provides coverage for a wide range of risks and incidents that could occur while you’re using or storing your boat. Keep in mind that specific coverage can vary between insurance providers and policies. At Topsail, we can help you understand the terms and conditions of your individual policy.

However, here are some common coverages that are often included in comprehensive boat insurance:

1. Physical Damage Coverage:

  • Hull Insurance – This covers damage to the boats hull, including the structure and equipment.
  • Outboard Motors, Tenders and Other Equipment – Coverage for damage to motors and other equipment that are permanently attached to the boat.

2. Liability Coverage:

  • Bodily Injury Liability – Protects you if you are found responsible for injuries to others while using your boat. This may be persons on board your boat, or in the event of a collision, a crew member on a third party boat.
  • Property Damage Liability – Covers damage to someone else’s property caused by your boat.                                                                                                                                                                     

3. Personal Property Coverage:

  • Covers personal belongings on the boat, such as clothing, fishing equipment, soft furnishings and other personal items.

4. Medical Expenses and Personal Accident

  • Some policies contain cover for specific accidents and injuries. However, we would never recommend relying on your boat insurance policy for this cover. If you’re long distance sailing or going to be away from your home country for an extended period of time on your boat we’d recommend you get a bespoke Boat Travel Policy to cover your medical emergencies amongst other things. Get a quote from us online here.

5. Towing and Emergency Assistance:

  • Provides coverage for towing and other emergency services if your boat is stuck or seriously damaged.

6. Wreck Removal:

  • Pays for the cost of removing your boat if it is damaged and sinks.

7. Agreed Value or Market Value:

  • Policies may offer either an agreed-upon value for your boat, or its actual cash value at the time of the loss.

8. Navigational Area:

  • Defines the geographical areas where your boat is covered. Some policies may limit coverage to specific waters.

9. Lay-Up Period:

  • Some policies may offer reduced coverage during periods when the boat is not in use or depending on specific mooring locations

10. Windstorm Restrictions

  • Some policies may offer amended coverage during periods when hurricanes, typhoons or cyclones are naturally occurring or require you to move your vessel away from these specific regions are certain times during the year.

It’s crucial to carefully read and understand the terms, conditions, and exclusions of your boat insurance policy to ensure you have the coverage you need. Additionally, you may want to consider any optional coverages or endorsements that may be available to tailor the policy to your specific needs.  Topsail would be delighted to discuss your boat insurance needs with you.   If you require a quote, you can submit an enquiry online