Insuring A Canal Boat - The Basics

A canal boat, whether as a permanent residence or as a holiday boat

, is a big investment and one not to be taken lightly. Just like any other kind of boat or form of transport, canal boats need ongoing repairs and maintenance and are subject to theft and third party damage. So, it's no surprise then, particularly considering the initial cost of buying a canal or narrow boat that most people opt for an insurance policy. But if you do decide to insure your boat, what sort of cover should you be expecting?

The main part of an insurance policy is cover against theft and loss. Should something happen to your boat, the cost of say replacing a stolen boat or a canal boat that's been damaged beyond repair is typically too much for most boat owners.

An insurance policy should cover your narrowboat for its insured value, so should anything happen to it, you can either get your boat repaired or replaced.

Public liability is another important part of an insurance policy. As with cars, boats can get themselves into all kind of problems - or the drivers can at least - that can cause harm to others or their property. Having liability cover is very important, as canal boats can end up in situations that can very often end up in the courts.

Should something happen to your boat that requires replacement or repair, do you require another boat in the meantime? This is something that is generally more important for those who are living on their canal boat as a permanent residence; however having this kind of cover is certainly a bonus for all other kinds of canal boat users.

Some boat insurers will often replacement hire cover which will ensure that you have an alternative narrowboat to live on and use while your other boat is being repaired or replaced.

Additional benefits that boat insurers tend to offer include personal accident cover, personal belongings cover and salvage costs. The latter is something most boat owners tend not to think about, however if your boat does end up sinking, it's important to have this cover as it is your responsibility to recover the vessel. Wreck removal, salvage costs and sighting costs are all things to look out for.

If you are getting ready to purchase cover for your boat, it's worth checking online to see which companies offer discounts. Some marine insurers will often a discount - usually around 10% - to customers who purchase cover online. Qualifying for this could save you a few extra pounds and is certainly worth it for the effort required.

Insuring A Canal Boat - The Basics

By: Katie Samson

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