Yacht and Boat Hull Insurance

Boat hull insurance is a type of marine insurance that covers damage to your boat and its machinery and equipment. This insurance is designed to protect you from financial losses due to accidents, collisions, grounding, fire, theft, and other perils that can damage the physical structure of your boat. It ensures that repairs or replacements are covered, depending on the policy terms. Hull insurance is essential for safeguarding your investment and ensuring that you are financially protected in case of significant damage to your boat.

The cost of boat hull insurance can vary significantly based on several factors. Key determinants include the type, size, and age of the boat, as well as its value and intended use. For instance, larger or more valuable boats generally incur higher premiums due to the increased sum insured and repair costs. The location where the boat is moored and the cruising areas can also influence the premium. On average, boat hull insurance can range from a few hundred to several thousand pounds annually. To get an accurate quote, it is advisable to contact a specialist boat insurance provider with detailed information about your boat and its usage.

Boat hull insurance typically covers a wide range of damages to the boat and related components of your boat. This includes:

Collision Damage: Repairs needed after a collision with another vessel or object.

Grounding: Damage caused when the boat runs aground.

Fire and Explosion: Damage resulting from on board fires or explosions.

Theft: Loss due to theft of the boat or its equipment.

Vandalism: Damage caused by intentional acts of vandalism.

Weather-Related Damage: Harm from severe weather conditions, such as storms or high winds.

It is important to review your specific policy details, as cover can vary and some exclusions may apply. Understanding the scope of your hull insurance will help ensure you are adequately protected against potential damages.

When you sell your boat you cease to have an insurable interest in the yacht. Therefore, you will need to notify us, in writing, of the sale as soon as possible. You can do this by sending an email or a letter. We cannot cancel the policy by telephone. When we cancel your policy, a pro-rata refund of unused premium will be made provided no claims have been made in the current insurance period.

Each policy of insurance is based on the individual requirements of the insured. In taking over another person’s policy there is the danger that the policy is not suitable for the needs of the purchaser. Of course, if you feel that you have benefitted from the Pantaenius cover and customer service and wish to recommend us to the buyer of your yacht, then we would be delighted to provide them with a quotation for their insurance.  Please feel free to pass on our contact details. If the new owner wishes to continue to insure the yacht through Pantaenius we will ensure that the there is no gap in cover when the yacht changes hands. You will need to let us know as soon as possible so that we can offer a quotation and set up the new insurance in good time for the sale. In many cases we will waive the requirement for a survey which may be helpful for your buyer and so benefit the selling process. 

Trailers that permanently belong to the boat can be insured against loss or damage under the hull insurance, as part of the insured property.

It depends on the value of the trailer. There is automatic cover up to £1,500.00 each item for one trailer. However, should the value of your trailer be higher, please let us know as it will be necessary to reflect the correct value of the trailer in the total sum insured.