Yacht and Motor Boat Insurance

[C08]

Following a post on the MOBO Forum the sums being mooted for insurance cost on a good sized and priced boat 60K-100K insured cover and premiums of £600-£900. These insurance premiums look quite low compared to yacht insurance. Are motor craft insurances lower than sailing boats?

 

[pvb]

Following a post on the MOBO Forum the sums being mooted for insurance cost on a good sized and priced boat 60K-100K insured cover and premiums of £600-£900. These insurance premiums look quite low compared to yacht insurance. Are motor craft insurances lower than sailing boats?

They don't sound lower than sailboat insurance to me. My sailboat's insured for £140K value at an annual premium of £555.

 

[Garold]

I think it may depend on boat location.
We have £140k cover for £1100. I had two other quotes which were similar.
We are based in Greece and the cover would include Turkey.

 

[C08]

Perhaps a £341 premium for agreed insured value of £22k on my little boat is too high.

 

[Solent Sailor]

3 years ago, I was paying £350 for £60k insured value of a yacht. A year later, I was paying £800 for £150k insured value MoBo - so perhaps slightly cheaper proportionately. MoBo didn't include racing cover though, so a lower risk comparatively. It's also easier to drive and park a MoBo, just more expensive if you hit something (especially at speed).

There are increasing restrictions/price hikes on racing cover as insurers starting to find ways to generate extra revenue more appropriately price their policies.