Choosing a new boat on eBay, provides so many alternatives, thankfully though when it comes to obtaining an insurance quote for your potential new boat, there are fewer choices with regard to the cover that is available.  The choice you make is nevertheless very important.

This guide to boat insurance may help you decide the sort of policy you require. Alternatively have a look at Noble Marine's ebay page, for details on how to proceed to their web site.

Q. What should I look out for?

A. Both the cover provided by different boat insurance companies and the service they offer, can vary greatly. Bear in mind that a cheaper policy may end up costing you more, if you have to make a claim and you should always check what cover is being offered before signing up.

Everyone's needs are different, and only you can decide if wider cover is important to you. It is essential though, to understand what is being offered to you, before being able to make an informed decision.

• Comprehensive Cover - will provide cover for your boat against accidental damage, theft, fire and vandalism.
• Third Party Liability - You should not consider going afloat without liability insurance, which will cover you if you cause damage to another boat or worse still cause injury.
• Racing Risks - you will need this cover if you intend to race your boat. 
• New-For-Old cover - This will replace damaged items with new, however age limits may apply.
• Policy Excess - You will be required to pay the first £x of any claim.
• Laid up Period - Do your insurers restrict cover by insisting that your boat is laid up ashore between certain dates?
• Waterskiing liability - do you require cover for accidents caused to water-skiers being towed by your boat, or cover for damage caused by a person skiing behind your boat.
• Towing toys - Many insurers are unable to provide cover for towing toys such as doughnuts, banana, ringos etc.
• Damage to underwater machinery - Will provide cover for propeller and engine damage if you were to run aground or hit a submerged object. Not all policies provide this cover as standard.

Q. How can I be sure the insurance company I choose is reliable?

A. Your policy is only as good as the service you receive if you have to submit a claim. Why not speak to your fellow boat owners, for their comments regarding which insurers provide good (or bad) service to their clients.

A small number of marine insurance companies are based overseas and it would be wise to establish that the insurers are based in the UK where you will have access to UK Law and compensation should a serious problem occur with your policy.

With effect from 14th January 2005, it is a legal requirement that any UK company providing an insurance policy, must be authorised and regulated by the Financial Services Authority (FSA). A firm should clearly display their status on any documentation, including their web site. If you are in any doubt, have a look at the register of firms on the FSA's website

Q. Why do I need third party cover?

A. £2,000,000 Third Party Liability is usually compulsory if you are to launch you boat in the UK and you should not consider going afloat without this cover as a minimum. A policy providing third party liability should cover you if you were to cause damage to property or injury to another person, with your boat.

The industry standard provides a limit of £2,000,000 and should be sufficient for use in the UK. Marine Law limits the maximum payable on navigable waters.

Third party risks whilst in transit would be EXCLUDED as this is normally covered by your motor insurance policy.

Q. Should I expect a standard policy to cover me while my boat is not being used (i.e. when my boat is ashore or while I'm travelling?)

A. Comprehensive policies should cover your boat against accidental damage, theft, fire and vandalism, whether in use or not; however there may be restrictions on your policy. There may be restrictions on where your boat should be moored, and when it should be taken ashore. These details should be listed on your policy.

Transit cover will be provided for smaller boats towed behind your car, however there will be restrictions on larger boats (typically those longer than 9m) and those boats being transported by professional hauliers. Third party liability whilst in transit will be excluded, as this will be covered by the vehicle's insurance.

Q. Am I covered to use my boat for 12 months of the year?

A. Some policies will stipulate that your boat is laid-up ashore for certain times of the year. Check your policy carefully and find out what cover would be in place if you were unable to lift the boat from the water, due to bad weather, tides, or busy boat-yards or if you wanted to launch the boat prior to the end of the laid up period.

Q. To what extend would my equipment be covered on a standard policy?

A. Some insurers will exclude damage to underwater machinery if you were to run aground or strike a submerged object.

Other items, such as your outboard, trailer and other personal effects or navigational equipment should be listed separately on the policy and all serial numbers advised to your insurers.

Q. Does it matter who is in charge of my boat?

A. The majority of boat insurance policies will allow anyone to sail your boat with your permission, however it would be prudent to check this first. If you receive money in return, i.e. the boat is being chartered or hired; this may invalidate your policy.

Q. Will I need to obtain a survey for my boat?

A. Most insurance companies will require a survey for any boat aged 20 years old or more, and then again, every five years or so. Some boats may require a survey if they have sustained serious damage.

Q. What about cover for foreign waters?

A. This will vary, depending on the policy you have chosen and the cruising range will be shown on your policy. You should carefully check that the cruising range is adequate for you as you will not be covered if a claim were to occur outside this area shown.

Have a look at 
Noble Marine's eBay page

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