How storage can affect your boat insurance premium

Adrian Waters • 30/07/2014

It's not really surprising that more secure storage means you'll pay less for your insurance. The trick is to play the options against each other, as you will find that one insurer offers a higher discount in a certain situation than another.

This is where you can really benefit from Insure My Boat's unique instant quote service. Simply select a different storage option and get your quotes - you'll see straight away when different insurers rise to the top of the table.

Compare insurance premiums and storage costs

Of course there are so many different types of boat and yacht that storage options aren't as straightforward as with something like a car. Many narrow boats stay on the water all year round, coastal yachts often have easy access to wet or dry storage and plenty of dinghies and small cruisers stay at home on trailers.

In each case the trick is to compare the difference in the premium prices you're offered with different storage prices. For example, if you have a yacht moored in a marina berth, check out the price difference between that and being dry stacked in a secure boatyard.

Then look at the difference in insurance premiums with those two options. You might find that paying more for safer storage lowers your insurance premium enough to compensate, or partly compensate.

You'll have the extra peace of mind that more secure storage offers as well.

All the options

To help make this process easier we've isolated the different choices we offer on the quote form, so that you can see all the storage options at a glance. First there's a list that suits most craft, from cruisers to sailboards, then there's a separate list for narrowboats, barges and houseboats.

  • Afloat on a pontoon berth in a professionally run marina
  • On a swing mooring
  • On a jetty/pontoon
  • Moored at a marina on inland waters
  • Moored at a bankside on inland waters
  • Kept ashore - see below
  • Other location - you'll need to describe this

If you select 'Ashore' as your location you'll need to specify where that is as well. Here are the choices:

  • Residential driveway
  • Private garage at home address
  • Boat Club storage (locked building)
  • Marina/boatyard in locked building
  • Dry stacking - within secure boatyard
  • Locked compound
  • Locked compound on static caravan site
  • Static caravan site
  • Touring caravan site
  • Holiday home
  • Commercial estate
  • Commercial premises (excluding boatyard/marina)
  • Boatyard/marina
  • Other - you'll need to describe this

Finally there is the separate list for narrowboats, barges, houseboats and the like:

  • Moored at a marina on inland waters
  • Moored at a bankside on inland waters
  • Lakes, lochs or ashore
  • Other location - you'll need to describe this

As you can see there are quite a few options to wade through but it's time well spent. Note that if you pick one of the 'other' options then we may have to speak to you to get a confirmed quote.

Play the options

You can go back and forth between the quote form and your results for as long as you want to, tinkering with the options until you arrive at the right combination that suits you best.

And if it all starts to get a bit too much, you can always pick up the phone and we'll talk you though it - all of our expert staff are at our headquarters in the UK. We are open from 9am to 7pm Monday to Thursday, 9am to 5.30pm on Fridays and 9am to 5pm on Saturdays.

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