insurance guide
Motor Boat Insurance buyer's guide
Enjoy the thrill of your motor boat safe in the knowledge that you, your craft, equipment and passengers are covered for injury or damage. In this guide you'll find out about...
View insurance guide
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Cover for motorboats, on and off the water.
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Sometimes it’s impossible to see what’s lurking under the surface of the water. With underwater damage cover, you can cover your motor boat against damage caused to the hull and other mechanical parts below the waterline. That means if you accidentally hit a rogue piece of drift wood or you accidentally run aground, you’ll be covered for the cost of the damage. When choosing your level of cover it’s worth noting that with our Silver and Gold boat insurance policies your excess will double in the event of underwater damage but with our Platinum cover it will remain at your set amount.
Not all motorboats are built for speed but for those that are, you may want to consider personal accident cover. Even if you’re an experienced motorboat owner, accidents can happen and should you fall overboard or receive a knock to the head for example, our speedboat insurance policy can cover you. Please note however, we cannot offer Personal accident cover to anyone over 76. Note: Always wear a kill cord where there’s potential for you to fall overboard. Not only is this essential for your own safety but it will also make your personal accident cover void if you’re not wearing one.
If you or someone you know is an avid water skier, wake boarder or general water sports adrenaline junky, our liability cover for towing activities is advised. This will cover your liability up to £1 million so should you or someone you’re towing get injured, your policy can cover their medical costs. Please be aware that you may only tow two people at any one time for this cover to remain valid.
Our theft cover comes in two forms. Firstly, we can cover theft of the entire boat either on the water or in transit. Secondly, we can cover theft of individual parts or components of the boat such as the outboard motor or GPS. All we ask is that your trailer is secured with wheel clamp or hitch lock.
We like to make it easy for you to choose the right policy for your boat.
| Bronze | Silver | Gold | Platinum | |
|---|---|---|---|---|
| Third party | • | • | • | • |
| No Claim Discount (up to 25%) | • | • | • | • |
| Discounts for club membership and relevant qualifications | • | • | • | • |
| Fire, lightning, explosion | • | • | • | |
| Theft, malicious damage or vandalism | • | • | • | |
| Weather events | • | • | • | |
| Freezing of machinery | • | • | • | |
| Accidental loss or damage | • | • | ||
| Personal accident | • |
These are just some of the key features and exclusions, full details will be found in your policy wording. Show policy documents
When you need to make a claim, we’ll guide you through the process and get your claim settled as quickly as possible.
Give us a call with the details of your claim, your policy number and some photographic evidence where appropriate.
Tips, advice and points of interest on all things nautical.
insurance guide
Enjoy the thrill of your motor boat safe in the knowledge that you, your craft, equipment and passengers are covered for injury or damage. In this guide you'll find out about...
View insurance guide
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A commonly asked question by first-time buyers of boats is what, if any qualifications you need to buy a vessel. Read our explanation to find out the answer, and our advice to make the most of your boat and keep it best protected under your boat insurance.
We understand that due to the Covid-19 outbreak you may be unable to visit your boat. Read our FAQs for this situation.
Our motor boat & speed boat insurance policy covers a number of items including things you’d carry on your person such as digital compasses, or pocket knives. These smaller items do have a single article limit of £250. However, you can also cover more expensive items such as onboard GPS equipment and outboard motors. All you need to do is let us know what you’d like covered so we can include it in your sums insured.
Yes for example we can’t usually cover you in the Caribbean or the Baltic seas so we always advise checking your policy or with a member of the team before deciding to travel. You’ll also need to let us know if you want to change your cruising range from what you originally agreed when you set up your policy. See “If I need to make changes to my policy, can I do this half way through?” below.
If your boat is over 25 years old, we will require proof that you’ve had it surveyed. Furthermore, we will require your craft to have a survey every 6 years thereafter.
Things never stand still in the world of boating so if you’ve installed the latest gadget and you need your sums insured changed or you’ve changed your mooring arrangements, give us a call and we’ll update your policy. Sometimes there is a small charge to change details but this normally won’t be any more than £15 plus the cost of any additional cover you have applied.
In some ways, boat insurance works like car insurance. If you’re an experienced driver and you keep your car in a garage at home, your premium will be lower. Similarly, if you’re an experienced boater with an RYA qualification who keeps their boat in a marina, we’ll offer you discounts on your premium. Be sure to let us know if you moor in a marina and you could get up to 20% off your premium. Also let us know if you have any RYA powerboat qualifications to take advantage of further discounts.
If you would prefer to spread the cost of your policy you have the option of setting up a Direct Debit to pay your premium in equal monthly instalments through our preferred provider, Premium Credit Limited (PCL).
To find out more about PCL and direct debit payments, select Direct Debit.
To understand more about how PCL work together with Towergate, please read our Regulatory Information.