Insurance requirements?

[waynefay]

Hi everyone, could someone please tell me what requirements are necessary or help with the cost for insuring a motor boat. We are looking in several years time to buy a 40-50 motor boat (5-6yr old moored in Spanish secure marina) for small coastal trips on weekends. However at the moment i know nothing aboaut boating. I itend to take any if not all courses over the next few years but which ones do i need and which would be a help in insurance requirements?
Do any of you know what the insurance costs may be?

 

[prv]

In the UK there's no legal requirement for insurance, but many harbours and marinas insist that you have at least third-party cover in case of hitting another boat. It's generally less expensive than car insurance, as it's a lot harder to kill or seriously injure people in boats than in cars.

However, if the boat is staying in Spain (and presumably registered there rather than UK) then you're probably best asking a Spanish forum, or at least on the Liveaboard forum on this site where people are more likely to have experience of Spanish rules.

Pete

 

[waynefay]

Thanks Pete, are you saying that in the the Med i have no legal requirement to have insurance but 3rd party might be required for the mooring marina only?

 

[PlanB]

Insurance is compulsory if you wish to keep your boat in a Spanish marina (and in most other marinas, come to that). We have a 1991-built, 45ft boat in Spain, insured through a UK company and the cost is just under £900 per year.

 

[Tranona]

It varies from country to country and whether you are a visitor or a resident.

I would think that insurance is the least of your concerns at this point. Suggest you join the RYA as they provide comprehensive advice on the requirements for visiting other countries, and later when you actually start cruising the Cruising Association is another valuable source of information.

 

[prv]

No, I'm saying that's the case in the UK. That's why I started my sentence with "In the UK".

Most European countries are more bureaucratic than here, at least where boats are concerned, and often have compulsory registration and insurance. You might be exempt from their requirements if you and the boat are both British, but you need to check very very carefully. This is intended for people travelling through, though - if you live there and/or the boat is permanently based there, you are much more likely to be subject to their rules.

It's possible someone here knows the answer, but at the end of the day it's a British forum and most people sail in Britain, perhaps with occasional trips to France or Holland. The Liveaboard forum here might have some Brits living on their boats in Spain, who are more likely to know what the rules are there.

Pete

 

[waynefay]

Thanks all, some very helpful information.
Sorry to be so quiet (i'll explain in a minute) but it just hit me that my father once said that when he passed his driving test he could have bought a mint Austin Heally 3000 convertable (in white) but he couldn't as the insurance was more than the car, hence i had the terrible thought of £200k boat insurance for a newbe and what was the cost might be, how could i bring it down are there qualifications required for such...etc. (as i said i will be taking all the qualifications beforehand but were there ones that were must have's.
Anyhow, back to why so quite!
I have all the people around me to tell me what i need to know but i cannot ask.
You see, i have had a love for motorboat all my life however my father is a experienced round-the-world racing yachtsman who looks on not to favourable towards the power driven kind of boats. He now resides in the Med with his yacht and has all the answers for me but if found out that i have turned to the 'Dark Side', well let's leave it at that. I must do this on my own and when it's done he can do nothing about it. Plus i want to suprise him when the time comes. 'Dad look what i got' cannot wait to see his face.