Expert Tips to Help You Choose the Right Boat Insurance

Europe has been a centre for boating excellence and enjoyment for centuries due to a perfect nautical environment of 37,000km of inland waterways and more than 70,000km of coastline. This watery landscape is enjoyed by around 36 million boat owners and enthusiasts across the continent, making the most of the freedom afforded by taking to the waterways. Evidence suggests that the number of boat owners and vessels active across Europe are increasing year on year. With this in mind, it makes sense for anyone who owns a boat, whether they are individuals or shipping companies, to put the right boat insurance in place for adequate coverage and peace of mind.


  • Why do I need boat insurance?
  • What does boat insurance cover?
  • 5 expert tips to help you choose the right boat insurance.
  • Getting boat insurance right.

Why Do I Need Boat Insurance?

Owning a boat creates a huge amount of pleasure for you and your guests, but also generates a level of responsibility. It is necessary to provide comprehensive coverage that ensures the vessel, you as the owner and the people on board are protected if damage or injury occurs.

There are many different boat insurance policies available and to make sure you purchase the right insurance for your needs and your vessel, it helps to research your options.

Legally, any boat that has an engine exceeding 9.9HP requires cover for third-party liability. Third-party only coverage provides the insurance policy holder with protection in the event of any damage to other boats or persons during the launch or navigation of your boat.

What Does Boat Insurance Cover?

Every boat insurance policy will offer different elements of cover. To help you decide which one is right for you and your craft, it’s important to consider a few key points, such as:

  • The size and type of your boat.
  • How you use and store your boat.
  • Your individual circumstances as a boat owner.

Many boat insurance premiums provide comprehensive coverage that includes:

Accidental damage

If your boat is lost of damaged due to fire, theft or an accident.

Third-party liability

Coverage if you cause damage whilst using your boat to another boat or injury to people on board another boat.

Issues during transit

Insurance providers may cover accidental damage to your vessel and its equipment during transit by road or ferry.

5 Expert Tips To Secure The Right Insurance

Ensuring your boat and the people on board are as safe as possible is likely to be a high priority. Here are five expert takeaways to help you get the most out of your insurance premium.

  • Understand your boat’s correct value

There are some notable points for you as a boat owner to weigh up when it comes to choosing the best insurance for your needs. Firstly, knowing your vessel’s value is key to gaining an accurate insurance quote. Secondly, being clear with your potential insurer about how you plan to use your boat helps them deliver a tailored insurance policy.

Other elements, such as boat age, type and size will also influence your policy outcomes. Having a clear understanding of the finer details of your boat and how you use it will provide you with more accurate coverage.

  • Find out the insurance provider’s requirements

Learning about the requirements specific to your region and to your lender are pivotal to securing cover that will give you peace of mind and be practical if there is damage or loss to your boat.

Complying with country, state or regional law will be necessary to ensure your boat insurance policy is viable in the case of any accident or damage.

  • Discover additional cover benefits

Put simply, every insurance provider will offer a different selection of policy benefits. It’s really up to you to choose which company can deliver the advantages that suit your needs.

For example, boat insurance with GasanMamo can offer significant additional benefits, such as sighting costs in the event of an accident or damage. There’s also personal accident cover for you and your immediate family against injury or death while onboard, embarking or disembarking your boat.

  • Check navigational boundaries

Your insurance policy may define some navigational limits that tell you where you can use your boat. Some policies could state that your cover extends to certain areas of water. It’s good to know beforehand what geographical areas you have access to ahead of committing to a boat policy.

Doing your research into any insurance policy pays off, both in terms of cost efficiencies and picking the right policy for your individual needs. Sometimes it helps to compare quote prices online so you can make sure your chosen boat policy is within your budget.

Getting Boat Insurance Right

Every boat owner has different needs and a unique vessel to take out on the water. No matter what craft you have, you’ll want to make sure that it is properly protected by the best boat insurance policy you can find.

Begin your own search for the right plan in Malta by looking through our compelling benefits on our boat insurance page and contact our experienced team today.

GasanMamo Insurance is authorised under the Insurance Business Act and regulated by the MFSA.

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