Should You Insure A Project Boat?

Insurance expert Steve Risk has some useful advice for boat owners

- Steve Risk

What advice would you give to people looking to buy older/project boats? Before buying any boat, old or new, owners should engage the support of a specialist insurance broker to understand the cover they’ll need.

Insuring older boats can often be more complex. For a boat over 20 years old – or over 10-15 years if made of wood – insurers would expect a condition survey to be carried out to check it is in good working order. This ensures the owner can secure insurance cover – it doesn’t have any effect on premium.

When buying an old boat it’s advisable for potential owners to ensure that a survey has been carried out over the last three to five years, and they should ask the seller if they can see a copy of it for the avoidance of doubt.