Press Release

Press Release

Date: July 2012

10 Insurance Tips for Boat Owners

Buying a boat is probably one of the biggest purchase decisions after your home – perhaps it’s the most important purchase made in a lifetime, but research suggests that people spend a fraction of the time they spend on home insurance on their boat cover.  These tips from La Playa will help protect your wallet - and those precious hours on the water - from nasty hitches.

Staying the right side of international law, restrictions around boat modification and establishing the right level of cover for crew are just a few areas where people struggle with boat insurance; and without an expert on hand you could end up in murky waters.  Mike Taylor-West, Head of La Playa Private Client Marine, and a seasoned sailor, advises: “Spend time with your broker talking through your priorities and lifestyle.  And prevention is better than cure, so follow these tips to make sure your insurance policy won’t let you down when you most need it.”

Ten steps to the ‘TLC’ boating protection:

  1. Make sure cover is in force as soon as you or a lender has a financial interest.
  2. Seek an agreed value policy, to avoid being out of pocket when a claim is settled based on a depreciating market value, and ensure that you include the financial value of any extras added or enhancements made.
  3. If it’s a used vessel and you’re unsure of the condition or value, get a survey. Any vessels over 10 years of age or of non-standard construction are likely to need a survey for insurance purposes.
  4. Standing rigging should be serviced at regular intervals. Consider replacing it after 10 to 15 years, or earlier depending on vessel type and usage.
  5. Keeping yourboat in a marina can reduce premium and secure cover for 12 months afloat.
  6. Insurers typically expect evidence of experience, RYA or internationally approved qualifications.
  7. Chartering and racing are not standard covers and you should inform your insurer of any intentions in this area, as it may incur an additional premium and risk considerations.
  8. If you are crewing your craft, you may need to consider crew liability cover, including accident and medical cover.
  9. Personal effects, outboard engines for tenders and loose items should be stowed and locked away to deter the opportunist thief. If the engine is fixed, ensure that it has an outboard lock – most policies won’t pay claims without this.
  10. Save time with a specialist broker: talk to someone who understands your craft and your lifestyle. Good communication and expert advice help you manage your risk better, and secure the right cover at a sensible premium.

Back >>

People Lifering 1

“La Playa: Insurance with Intelligence. Passionate. Discerning. Independent.”


Ready to work with us?

You can call us to talk more about your business on +44 (0)1223 200650 or +44 (0)20 3865 0149

What's Covered?

Monthly Payments
Cancel Anytime
Benchmark Us
Quote within 24 hrs

About La Playa Marine

Specialist & Independent

Specialist & Independent

Our Marine team has decades of experience in yacht insurance – we can guide you through the decision-making process, providing personalised risk advice and protecting your precious downtime. We provide a human face to make sense of marine insurance – real people who work with you at your pace, providing as much (or as little) detail as you wish.

But what makes us unusual is our “portfolio” approach, allowing you to combine your marine, home and vehicle insurance needs. This is no “bolt-on”: by streamlining specialist marine insurance with high net worth home and motor cover, we present an overall more attractive risk package to the insurer. This can mean better rates and time savings - just one payment and a single policy anniversary, minimising the possibilities for gaps in cover and maximising your peace of mind.

In-house Wealth Management

We also offer Investments & Pensions and Financial  Planning: a joined up approach with a team of advisers working for your best financial interests - all under one roof.

Advice You Can Trust
…from an expert who understands you

  • Specialist, global policies for affluent lifestyles
  • Independent, specialist advice
  • Boutique–style, luxury service
  • “Can do” culture
  • Worldwide capability: offices in London & New York

What does “Boutique Service” actually mean?
La Playa’s Personal Risk Concierge means:

  1. dedicated adviser so you can speak to the same person each time
  2. Careful listening to really understand your needs and priorities
  3. As much help as you need with completing forms to provide risk information
  4. A discreet and complimentary appraisal* of your property to assess the risks and ensure you have the right cover where you need it
  5. An independent market review - so you don’t have to shop around comparing policies, cover limits, risks covered and smallprint exclusions
  6. Careful monitoring of the insurers’ financial strength, claims and customer service
  7. An independent recommendation of the best policy for you - and, importantly, why
  8. Specialist policy wordings from underwriters who have demonstrated excellence and deep understanding of your risk exposures. We have analysed a wide range of policy wordings and have selected only the best for our panel. Our advisers have a deep working knowledge of these policies 
  9. An intelligently designed portfolio of protection across multiple asset classes and territories
  10. Advice on how best to manage your risks - to keep you safe but also to keep insurance costs down
  11. Expert guidance on valuations, security and risk management, and connecting you with specialist advisers and suppliers
  12. Direct phone, mobile and email access to your adviser for questions and advice. We aim to respond to emails within 60 minutes
  13. Policy documents emailed to you - no logins and passwords to remember
  14. An advocate beside you if you make a claim - thinking laterally to mitigate the impact, making useful connections to get you back up and running; driving through to a swift and fair financial settlement

Oh, and...

  • No call centres
  • No ‘hold’ music
  • No hidden fees

*subject to availability with our insurer panel

Photo from Marine
Photo of Juliet Allan

Juliet Allan


Direct Dial: +44 (0) 1223 200658


Twitter: @julietallan