Getting boat insurance: what should I look out for?

The boat

• The type of boat (for example, a speedboat, cabin sailing yacht/catamaran, open (motor) boat or dinghy)
• The length of the boat (in centimeters)
• The year of construction of the boat
• The daily value of the boat (this includes the engine, audiovisual equipment, extra accessories and special constructions)

The engine

• The type of motor (outboard motor, built-in motor or no motor)
• The total power of the engine(s) in horsepower
• Fuel (gasoline, diesel, LPG or electric)

Coverage

• The coverage area of the boat (Netherlands, Europe or European seas)
• The coverage (WA, WA + limited Casco or WA + Casco (All-risk))
• The berth of the boat

Other

• The number of claim-free years you have accumulated from previous boat insurance policies
• Possible membership in a water sports association

The above items are requested during the purchase of a boat insurance. You can also indicate in the application whether you want to insure accidents and/or legal assistance. When you take out accidental injury coverage, you will receive a payment when one or more persons on board become permanently disabled or die after an accident. Legal assistance provides coverage when recovering damages from an opposing party.

Do you take out boat insurance with WA + limited Casco or WA + Casco (All-risk) coverage? Then you may choose to insure your boat trailer as well.

What should you pay particular attention to in boat insurance policy terms?

When comparing boat insurance policies, in addition to the differences in premium, it is important to carefully analyze the policy terms. Below are 3 important policy terms that you can approach with extra care during your search.

1. The bonus/malus ladder

Based on the claim history, each insurer calculates a discount on the premium for the next insurance year. In other words, if you sail a year claim-free you build up 1 claim-free year. This equals a discount on the premium of your boat insurance. However, the discount granted for claim-free years differs per insurer. This ultimately affects the premium you have to pay.

2. The amount of WA coverage.

Do you cause damage to others with your boat? Then you can be held liable. Depending on the nature of the damage, these costs can be enormous. It is therefore important that when taking out a boat insurance you also pay attention to the maximum insured amount per event.

3. Own defect

Coverages for damage due to inherent defect can vary. Own defect refers to an inferior property of the insured boat that should not occur in similar boats. Think of a material defect or an error in the original construction, making the boat unsuitable for sailing, for example.

Also read:

• 8 tips to prevent theft of your boat or outboard motor
• Do I need a boating license for my boat?
• How best to winterize my boat
• How mandatory is boat insurance really?
• Taking the boat trailer on vacation: what should I pay attention to?
• What does WA + full hull boat insurance cover?
• What does WA boat insurance cover?