My title Page contents
Average Cost of Boat Insurance in UK

What’s the Average Cost of Boat Insurance in UK

Are you considering taking to the waves? Or are you maybe considering upgrading ? Besides the costs of the actual boat and running it, one of the biggest things you will have to consider is the Average Cost of Boat Insurance in UK. Whether you have a rowing boat or a yacht, every boat owner needs to ensure that they have the cover that they need to protect themselves, their crew, their ship, and other traffic!

That is why we are going to guide you through Cost For Insurance on a Boat in Florida, the costs, and more – how much is boat insurance (UK based) on average? It’s time to get covered. The cost of boat insurance will depend on many factors including type of coverage, the cost and model of your boat, and how you plan on using your boat.

In recent years, within the Global Boat Insurance market, we’ve seen the average cost of Boat Insurance increase for the majority of Yacht Owners. As some Yacht Insurance Companies have contracted from the market, we’ve seen as a result a reduction in capacity, competition and therefore an increase in the overall Yacht Average Cost of Boat Insurance in UK.

How Much Should Average Cost of Boat Insurance in UK?

In some ways, boat insurance is like any other kind of insurance in that the price depends on the size of the boat, its age, where it is (where it is moored, to be exact), and on you, the owner. Do you have any experience owning and driving a boat? What are your previous boat insurance claims, if you have any? Are you a licensed driver?

The price of boat insurance also very much depends on the kind of boat insurance policy that you are looking for. Given that boat insurance is not a legal requirement in the UK, there are some boat owners that would assume that it isn’t necessary.

However, it is essential to note that certain marinas will not allow you to moor your boat without insurance and that in order to use your boat on the British waterways, you will need coverage of some form or other.

Type of Policy

Here are the different types of coverage that could be included in motorboat insurance policies.

Liability Coverage

Liability coverage can help you cover expenses if you cause an accident which damages another person’s property.

Medical Payments Coverage

This type of coverage will cover any medical payments should you or any of your passengers incur any injuries whilst on the Average Cost of Boat Insurance in UK. This can include any medication, X-rays or scans and any unexpected hospital bills.

Uninsured Watercraft Coverage

Uninsured watercraft coverage will cover you for any costs should you collide with an uninsured or underinsured boater. Should this happen, the policy will cover any expenses associated with bodily injuries as well as property damage.

Your motorboat policy will be issued on an agreed value basis, so in the event of a total loss claim you will be paid out what you insured the vessel for. We offer up to £5 million Third Party Liability cover, up to 25% No Claims Bonus (with some insurers offering the option to protect this) and the option of excess waiver cover on certain policies, meaning you will not pay an excess in the event of a claim.

Additional Protection

Taylor Watkins offers bespoke insurance policies which vary on a case-by-case basis. If you are concerned about any additional components such as special equipment, boat trailers, towing coverage or any boat accessories, you can include this when requesting a quote. Other potential elements to take into consideration are the cost of fuel spills or the cost of wreckage removal should there be an accident on the water.

Average Cost of Boat Insurance in UK

What Are You Paying For When You Insure a Boat?

Of course, what you will be paying for exactly with your boat insurance depends on the policy basics. However, here are a few things that you should expect to see if you get boat insurance:

  • Third-party cover: The first thing that you should really look at is third party insurance – as discussed. In many cases, boat owners choose to only have this as it covers something that none of us can control – third parties on the water. Third-party liability insurance covers you, your crew, and the guests on your boat should any injuries, damages or even death have been caused by a third party.
  • Fully comprehensive boat insurance: As the name suggests, fully comprehensive boat insurance covers most things, including things that we simply cannot control, such as theft, vandalism, third party fire, property damage, sinking, and even weather-related damage.
  • Medical expenses: Some insurance policies do indeed include cover for medical bills induced from accidents caused onboard that could hurt you, your crew, or your guests.

Example Costs of Boat Insurance

As mentioned, defining exactly how much Average Cost of Boat Insurance in UK you will have to pay on boat insurance will vary depending on a few factors.

However, there are, of course, certain averages that can help you to better understand how much you are potentially looking at when it comes to insuring your vessel.

Here are a few examples of boat insurance policy costs in the UK:

  • Yachts: For fully comprehensive insurance for a yacht here in the UK, prices average at just over £380.
  • Catamarans: On a fully comprehensive insurance policy, catamarans cost more on average, coming in at over £480.
  • Speedboats: If you are looking at insuring your speedboat on a fully comprehensive policy, then you are looking at more around £340.
  • Houseboats: Houseboats cost even less to insure, coming in at around £260.
  • Dinghy: If you are looking at a small dinghy for weekend adventures, then you will be happy to know that, on average dinghies cost around £115 on a fully comprehensive insurance policy.


Whether you use your boat daily or just every now and then, it is always best to have the best insurance possible. Anything can happen on boats, whether you are just cruising up down a river or taking on the seven seas. Thankfully, with high quality boat insurers like Velos to choose from, you ensure that you pay a fair amount for the cover that you need.

Despite several Yacht Insurance Companies contracting from the Global Boat Insurance market, the remaining Yacht Insurance Brokers are committed to the industry and most Average Cost of Boat Insurance in UK will be able to get the Full Boat Insurance Coverage they want, despite potentially paying more in the short term.

Are you considering taking to the waves? Or are you maybe considering upgrading ? Besides the costs of the actual boat and running it, one of the biggest things you will have to consider is the Average Cost of Boat Insurance in UK. Whether you have a rowing boat or a yacht, every boat owner…

Leave a Reply

Your email address will not be published. Required fields are marked *