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What to Consider when Purchasing or Renewing your Boat Insurance

Boat ownership can be a wonderful experience, but it also comes with many responsibilities. One of these responsibilities is protecting your boat with the right insurance coverage. Whether you’re purchasing boat insurance for the first time or renewing an existing policy, there are several important points to consider. Here’s what you need to know about buying or renewing boat insurance.

Determine The Value of Your Boat:

The first stop in buying or renewing boat insurance is to determine is to determine the value of your boat. This will help you determine the amount of coverage you need. Make sure to include any upgrades or modifications in the value of your boat. Here at Parkstone Bay Marina, our Yacht Brokerage offers valuations for the purpose of insurance. To request your free appraisal today, contact us on

Shop Around:

Take the time to shop around and compare quotes from multiple insurers. This will help you get the best coverage at the most affordable price.

Coverage Options:

There are different types of boat insurance coverage available, including liability, damage to the boat and personal property, and add-ones like towing and emergency assistance coverage. Consider your boating habits and the type of boat you have to determine what coverage options are best for you.


When shopping for boat insurance, make sure to consider the excess associated with each policy. Excesses are the amount you’ll need to pay out of pocket before your insurance kicks in. Make sure to choose a excess that you can comfortably afford in the event of a claim.

Read the Policy Carefully:

Once you’ve selected a boat insurance policy, take the time to read it carefully. Make sure you understand what is covered and what is excluded. If you have any questions, don’t hesitate to ask your insurance agent.

Proof of Insurance:

Always keep proof of your boat insurance on board when boating. This could be a physical copy of the policy or an electronic version stored on your phone.

Review Your Policy Annually:

It’s a good idea to review your boat insurance policy annually to make sure it still meets your needs. Consider any changes in your boating habits, the value of your boat, or the level of coverage you need.

Safety Courses:

Many insurance companies offer discounts for boaters who have completed safety courses. This is a great way to save money on your boat insurance while also improving your boating skills. Here at Parkstone Bay Marina we offer an array of RYA safety courses through The Harbour Sea School. To find out more, contact the office on

In conclusion, purchasing or renewing boat insurance is an important responsibility for any boat owner. By taking the time to shop around, determine your coverage needs, and read your policy carefully, you can ensure that your boat is protected, and you’re prepared in the event of an accident or damage.

Do you have a vessel berthed at Parkstone Bay Marina? As a berth holder, you’re entitled to receive priority insurance and preferential rates from Hayes Parsons – securing peach of mind for both you and your vessel. Request a quote today to receive coverage for your boat and experience the confidence that comes with having priority insurance coverage…

To enquire, please email Darren at or visit

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