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Basic Boat Insurance – Compare Cheap Quotes

Unlike the owners of seafaring vessels, if you own a boat that you intend to use on the UK’s inland waterways then boat insurance often isn’t just a good idea – it’s often mandatory when you apply for your waterways licence.

However, just because it is mandatory doesn’t mean you should have to pay an arm and a leg for it. By shopping around and comparing boat insurance quotes from a range of different providers you stand a far better chance of finding a basic boat insurance policy that gives you a suitable level of coverage without breaking the bank.

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What is basic boat insurance?

The most basic type of boat insurance is third party only cover, which is intended to protect third parties if your boat injures them or damages their property. As the name suggests, the coverage won’t extend beyond protecting the interests of those third parties, which means if your own boat is damaged and needs to be repaired you’ll be expected to cover those costs yourself.

Is basic boat insurance a good idea if I plan to take my boat out on the river or canal?

Basic boat insurance should certainly meet your legal obligations, because it will offer protection to third parties which is usually a legal requirement when you use your boat on inland waterways like rivers or canals.

However, it is important to bear in mind that basic boat insurance won’t protect your own financial interests, so if something happens to your boat you’ll be the hook for the repairs yourself.

Similarly, if your boat is ever stolen or vandalised, or it gets broken into and your contents are stolen, basic boat insurance won’t pay out in those instances either.

How much does basic boat insurance cost?

As with a more comprehensive level of boat insurance, when you opt for a basic boat insurance policy that only offers third party cover your boat insurance specialist will still take a wide range of variables into consideration, including the type of boat you own, whether or not it has an engine, where you usually sail your boat, where it’s usually moored, and whether you have claimed on a boat insurance policy in the last five years.

With that in mind, the only way to know how much you are likely to pay to insure your particular boat is to compare basic boat insurance quotes from a range of different providers.

Do rowing boats require basic boat insurance?

Yes, if you plan to row your rowing boat on a river, canal or lake in the UK then you will almost certainly be required to take out basic boat insurance before you can apply for a waterways licence.

The fact that your rowing boat doesn’t have an engine won’t exempt you from this requirement, because even unpowered boats could potentially injure third parties or damage their property.

Is basic boat insurance suitable for canal boats and houseboats?

Basic boat insurance will certainly satisfy your legal obligations if you own a canal boat or houseboat, in the sense that a basic boat insurance policy will offer financial protection for third parties.

However, this type of third party-only policy might not be the best option when you’re insuring this type of boat. After all, canal boats and houseboats are often worth quite a lot of money, and in many cases they also serve as either your primary residence or your holiday home.

In addition, many houseboats and canal boats contain domestic appliances, electronic equipment, furniture and houseware, and none of those contents would be protected if you opted for a basic boat insurance policy.