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Motorboats are those vessels which are powered by a petrol engine and steered using a rudder and propeller. Speedboats of varying sizes are used for a variety of water-based activities; including waterskiing, wakeboarding and spectator sports such as Formula 1 powerboat racing.

When it comes to engine type, motorboats can either be fitted with inboard engines that are hidden away from view, or external motors with gearboxes and exposed propellers, these are located at the back of the boat and are usually petrol-fuelled.

Motor boats can vary in size from small vessels designed for day excursions – usually involving fishing or scuba diving – to larger boats for towing water skiiers and parasailers.

There are also enthusiasts who prefer to collect and pilot classic motor boats, and there are a number of owners clubs for particular models of motorboat, so it can be worth seeking advice before you think about buying a boat.

Where Can I Buy A Boat?

Boat ownership is by no means cheap, and comes with several things to think about, such as storage and the cost of motor boat insurance. Aspects that will affect the cost of your policy include:

  • Type of boat
  • Length, width and engine size of the vessel
  • Inboard or outboard engine
  • Maximum speed
  • Age of the vessel
  • Hull construction
  • Cruising range
  • Mooring type

Obviously the larger and more powerful your boat the more expensive it will be to insure. Depending on where you store the boat – whether based in a marina or transporting it from place-to-place using a trailer – can have an effect on your boat insurance premium.

Transporting A Motorboat

Speedboat owners will usually keep their boats either moored at a marina or in secure storage on their property. In order to transport a speedboat from your home to a body of water you’ll need to make use of a trailer, which can be hitched to the back of your car or another vehicle as part of an excursion or for transporting a new boat to a marina.

You must also make sure you are road legal and qualified to tow a vehicle before towing your boat, and ensure that you have the relevant trailer insurance in place.

Much like owning a powerful car, owning a motorboat comes with its own set of risks. Despite their large size, motorboats can be targets for thieves – both the vessel itself and equipment contained in it – so ensuring you’re covered by motorboat insurance is essential for boat ownership.

When your boat is not in use, how you store it can make a difference to your boat insurance policy. By taking steps to ensure that your boat is well protected, either by keeping it in a safe storage yard with CCTV surveillance or by fitting additional security features including wheel locks to your trailer in to deter thieves.

What Will Speedboat Insurance Cover?

Insurance policies will cover your vessel against accidental damage and also theft, and some policies will help to cover certain contents inside the vessel – including navigation systems – as well as external parts that are constantly submerged, such as engines and motors against general wear and tear but also against accidental damage.

Whereas motorboats are used for recreational sailing and watersports, there are vessels which serve a more practical purpose, including Rigid Inflatable Boats (RIBs).

What Is A RIB?

RIBs are lightweight and high-capacity vessels that are often used by coastguards and river patrols as they are designed for a quick launch in response to emergencies. RIBs can also be used for recreational activities such as river cruises and even have modifications such as wheelhouses and cabins to allow for habitation.

If you use your motorboat for holiday purposes, particularly for travelling around Europe, you’ll need additional cover to ensure you are protected for use abroad, rather similar to a caravan insurance policy.

You’ll also need to think about having the relevant documentation to tow a vehicle within the EU, especially if you’re transporting your boat for a holiday or as a result of a sale.

Here at Quotiva we search a network of top UK brokers to find you the best deal on your boat insurance. Just fill in a few details and let us do the legwork to find you a better deal that’ll leave you motoring along.


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