Insuring your yacht against intruders and thieves
For those who love sailing, owning their own yacht is the culmination of a dream but protecting that yacht is just as important.
While it’s not compulsory to have marine insurance to sail in UK waters, it simply makes good financial sense to invest in the right yacht insurance that will protect you in the event of an accident, theft or robbery.
Most insurance is in place to provide cover for damage, whether the damage is to your vessel or if you are at fault and have damaged someone else’s boat. However, it is just as important to make sure you are protected against intruders or thieves. You don’t have to be sailing a luxury yacht in the Indian Ocean to be at risk from thieves – in fact, most intruders strike when a boat is moored because a yacht tends to be laden with items that are attractive to thieves because they can be quickly sold on, such as satellite equipment, laptops, outboard motors, dinghies and flotation devices.
Even if you install a sophisticated alarm system, there is no guarantee that will repel an intruder. Therefore, the best way to protect your expensive investment is to find the best insurance for yachts and reduce the risk of losing everything.
A comprehensive policy will provide cover if your yacht is accidentally damaged or in the case of theft, fire or vandalism. Do check for any policy restrictions regarding mooring or when your yacht is taken ashore.
Just as with household or vehicle insurance, you should always report any theft or criminal damage to the police and use the crime reference number they give you on any claims you submit to your insurer.
In the event of a worst-case scenario – i.e. your boat is stolen – most insurance companies will now list the details of stolen boats on a specialist website.
Check your policy that items such as outboard motors are included in the theft cover – you may have to have an anti-theft device installed to guarantee these are not exempt.
Use a specialist marine insurance broker or search online to find the yacht insurance that provides the best cover for you and your vessel.
Brought to you by the boat insurance comparison website Boat Quote. Visit us for quotes for yacht insurance from a range of top marine cover specialists.
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