Insurance

[Stephen Fulcher]

This is a question that has no doubt been asked thousands of times before, so apologies for being repetitive.

 

What is the approximate cost of insurance per year for a 45 foot craft. I would assume that this will vary dependant upon circumstances, but would be interested to know vaguely as I am looking into cost to calculate roughly whether or not it is feasible for me to aquire such a craft.

 

Also, can anyone provide any insight into what affects the price of boat insurance? For example, on a car, engine size, age of driver etc. causes prices to increase, what factors decide boat insurance?

[John Orentas]

Hi Stephen.

 

As a rough guide I pay £146 per year for a 50 foot boat. I am a bit under insured and I don't have any cover for contents. The premium is based purely on value as long as it is a normal type fairly modern modern boat, I do get a small No claims discount.

Nothing to do with engine size or owners age.

 

St Margarets Insurance.

 

Some companies are a bit picky about other drivers, navigating on rivers etc.

Edited January 18, 2006 by John Orentas

[Bones]

This is a question that has no doubt been asked thousands of times before, so apologies for being repetitive.

 

What is the approximate cost of insurance per year for a 45 foot craft. I would assume that this will vary dependant upon circumstances, but would be interested to know vaguely as I am looking into cost to calculate roughly whether or not it is feasible for me to aquire such a craft.

 

Also, can anyone provide any insight into what affects the price of boat insurance? For example, on a car, engine size, age of driver etc. causes prices to increase, what factors decide boat insurance?

 

My boat is a 54ft narrowboat late 1980's and is insured for about 187pounds a year. this includes 500pounds personal effects (which I think I will up shortly).

[tony collins]

This is a question that has no doubt been asked thousands of times before, so apologies for being repetitive.

 

What is the approximate cost of insurance per year for a 45 foot craft. I would assume that this will vary dependant upon circumstances, but would be interested to know vaguely as I am looking into cost to calculate roughly whether or not it is feasible for me to aquire such a craft.

 

Also, can anyone provide any insight into what affects the price of boat insurance? For example, on a car, engine size, age of driver etc. causes prices to increase, what factors decide boat insurance?

 

 

I pay £125.26 for my 15 year old self built 45 ft semi trad.

 

Regards

T

[nigel carton]

I use www.craftinsure.com no hassle and you can pay on line. What you have to be careful with is the age of the boat you intend to buy. Insurance companys have there own rules and gole posts, i.e. craftinsure will want an out of water hull survey for steel hulls 30 years and over. Some one like College will want one after 20 years.. take your pick. Best thing to do is buy a copy of Waterways world and phone all the insurance companys for quotes and guide lines.

 

Nigel

[iteldoo4me]

I have found its a good idea to read the small print.Insurance for boats seem to be very reasonable,in comparison to vehicles,I pay £218 pa, with an excess of £150.For this I get hull & equipment cover up to £50000(i did a self fit out)for a 55footer trad.I did get a ncb,but that was only a tenner.I also get a 3rd party extension of £30 million.The company is IWIS.Seems prices are all fairly similiar,and prices are decided on length and value.

[colinjw]

With my insurers, the premium depends on the value of the boat (£56k) and contents insurance of £2k.

 

The premium is about £160 with Newton Crumm who have been no problem since I got the boat 3 years ago.

 

To start with, I was very much underinsured at £40k and no contents and the premium to start was £120.

 

So Stephen, the cost of insurance basically seems to depend upon the value of the boat and contents with possibly a bit extra for cruising area. I can cruise all canals and connecting waterways including the Thames down to Sheerness (not that I would), the Wash and the Bristol Channel (with a river pilot).

 

Colin

[nigel carton]

and the Bristol Channel (with a river pilot).

 

Colin

 

Do it, its the best fun you will have with your clothes on!

 

oops sorry twas a bit

Edited January 18, 2006 by nigel carton

[colinjw]

Do it, its the best fun you will have with your clothes on!

 

oops sorry twas a bit

 

Thanks Nigel,

 

Very tempting but a bit far from the marina (near Penkridge).

 

You never know, I may well be able to do it once I retire and have even more time on my hands than I do now....lol...pity that will be in about 5 - 6 years time.

 

Slightly off topic I know, but I'm looking forward to passing in front of the Three Graces in Liverpool once the link is done and have a great time in Liverpool as I have a good number of friends from when I lived down that neck of the woods for 30 years.

 

Colin

[dor]

Another thing to watch out for with insurance : Are "other drivers" covered. You may not lend your boat out to family & friends, but if you do, some policies won't cover you.

 

Some insist that you are on the boat at all times, others allow anyone using the boat with your permission.