Boat Insurance Quotes

What is Boat Insurance?

Boat insurance aims to provide support by putting you back in the financial position you were in before a loss such as theft or damage to your boat. 

There are various insurance types you can get.

You can get cover for personal injury, damage to your boat and damage caused by you to other people or their property on the water.

Why do you need boat insurance?

Consider the fact that South Africa has a high crime rate and also fluctuating weather conditions. By getting boat insurance you get coverage for damage caused during transportation and in the water as well as more costs such as a result of fire and theft. You also get protection against the risk of piracy.

Marine insurers providing boat insurance offer a wide range of coverage suited to that company’s level of expertise and the type of customer they wish to attract.

You should make sure that you compare at least three boat insurance quotes to make sure that you are getting the right kind of cover.

What kind of cover can you get from boat insurance quotes?

Boat insurance policies typically cover physical damage, but the best places provide “all risk coverage”. With this type of cover you are insured for wind, rain, hail, lightning and wave actions, fire, loss or damage caused by theft or vandalism.

Basic sections of a typical boat insurance policy:

Physical damage

This section details the type of cover you get for accidental loss or damage to the boat and its machinery.

Liability damage

Also known as Protection & Indemnity, this covers your legal obligations to third parties. This coverage also helps to pay for your legal defence if you are sued.

You should read your boat insurance policy carefully to make sure that you fully understand what you are covered for and what exclusions the policy has.

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