Yacht insurance for racing

Racing your yacht is not considered ‘normal use’ under most insurance policies understandably. So how does racing your boat affect your insurance? Our video looks at exactly that. Click to find out more about protecting your yacht if you race.

Yacht insurance for racing - Video transcript

Hi, my name is Edward Taylor and I work on the boat team at Towergate Insurance.

In this video we look at yacht racing and what you need to do with your yacht insurance to make sure your still covered.

Competing in races is one of the best ways to hone your yacht sailing skills, but it’s a no hold’s barred situation, and you don’t want to be worrying about whether or not your insurance policy covers you! The up side of racing though, apart from the satisfaction and fun of competing is the huge benefits it has in improving your boat handling, crew work, seamanship and navigation skills.

A platinum yacht insurance policy with Towergate will automatically include some elements cover for racing but there are extra factors to consider when you race.

The extra cover on mast, spars and sails is based on the replacement as new NOT on the current value of these items. It can even be the case that the replacement with new value is more than the total current market value of the boat and it’s very difficult to say what the value of second-hand spars and sails is, so we don’t ask our customers to!

The current replacement costs should take into account are:

  • The Mast (or masts, plural). This should include all the standing and running rigging attached to the mast
  • The Spars This includes the mainsail and mizzen boom(s), the spinnaker pole or poles, and any other sail spars, such as bowsprits, bumpkins, jockey poles or jib booms.
  • The Sails -  The maximum value of sails set at any one time (No need to include other sails owned but not actually in use at the same time)

If you already have insurance cover with Towergate but want to add on cover for racing you can do this by just giving us a call. We will ask for a current replacement costs of these three items, and a few other questions about:

  • Your experience
  • Where you’re racing
  • Your qualifications

Our underwriters check everything is okay and apply the cover to your existing policy. Once everything is approved the cover can start with immediate effect so you can get racing straight away.

For more tips and guides on yachts and boat insurance visit our website.

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