Boat insurance is as the name suggests. It’s there to protect happy boaters from the very unhappy occurrences that can happen when out on the ocean waves. In this guide, we’ll discuss why you should pay for comprehensive boat insurance and the leading European boat insurance companies.

Taking out insurance is critical with more pleasure craft in the marinas of Europe than ever. With the cost of owning a boat soaring, it makes sense to protect yourself from those unavoidable disasters you might encounter. But which insurance company should you go with?

Why Take Out Boat Insurance?

Let’s begin by going through the average costs of some of the most common insurance claims made throughout the UK and Europe:

• Collision – £3,000
• Storm Damage – £17,600
• Collision With Underwater Objects – £10,000
• Water Intrusion – £11,200

Now imagine what happens if you’re involved in an accident serious enough to sink your boat to the bottom of the briny deep. Even the cheapest boats could cost £15,000, with the most expensive surpassing £700,000.

Boat insurance protects you from the immense costs of repairing a boat involved in a covered event. Without that insurance policy, you face paying everything out of your pocket.

5 Best Boat Insurance Companies in Europe

Reliable insurers protect your vessel from anything that might happen to it. Nothing can stop an act of god like a storm from sweeping through your marina, but an insurer ensures you can come back from the damage and get back out on the water.

Let’s run through five of the best boat insurance companies boat owners use today.

1. Pantaenius

Pantaenius is Germany’s leading boat insurance provider. Long known for its yacht insurance, this company dates back to 1899. Since entering the yachting industry in 1977, Pantaenius has acquired a reputation for being one of Europe’s leading yacht insurance specialists.

Unlike other insurers, this German giant relies on building bespoke solutions for skippers with the support of skippers. You’ll find all the usual coverage options, including personal accident insurance, crew medical cover, and hill insurance, but what stands out is its customer experience.

Captains can go online and select their own cover and then build and manage their own contracts by themselves.

2. Zurich Insurance

The Zurich Insurance Group has its fingers in many pies across the insurance sector, including boat insurance. Located in Switzerland, Zurich Insurance is one of the longest-running providers of boat cover on this list because it has been providing services for around a century.

You’ll find various boat insurance products, starting at cover for simple yachts, extending to ocean crossings, inland marine needs, and even commercial cargo options. However you like to sail, you can’t go wrong with this established global name.

3. Admiral Marine

Admiral Marine is a relatively new entrant into the market, with its boat insurance products starting just 25 years ago. However, what separates it from other insurers is Admiral Marine was launched by an actual yachtsman.

Robert Holbrook launched the company to provide more flexible yacht insurance policies. That’s why, today, yacht owners can choose the coverage they need rather than paying for the add-ons they don’t want. Admiral Marine operates in the UK, the Mediterranean, Northern Europe, and even South East Asia.

One of the hallmarks of Admiral Marine is that it still provides the personal touch you won’t find with other insurers. Any claims are handled in-house, ensuring your claim is processed quickly without worrying about any middlemen.

On a side note, a big plus of going with Admiral Marine is that there’s no excess if you’re hit by another vessel while moored.

4. Aviva Insurance

Aviva Insurance is headquartered in London but operates across the world. They’re one of the biggest names in the business for insurance policies across industries. Still, their boat insurance stands out for going beyond the standard and providing you with the coverage you actually need.

Some of the specific boat insurance options offered, include:

• Sail
• Yachts
• Pontoons
• Personal watercraft
• Cruisers
• Sport boats
• Houseboats

Generally, their clients prefer them because of their easy claims process and how responsive their customer service division is. If you’re looking for an established name that gets you covered and actually pays out when you make a claim, Aviva is an excellent choice of European boat insurer.

5. Allianz Insurance

Allianz is a global insurance company with over 100 million customers in 70 countries. You’ll find a range of coverage options, including personal accident, liability, and hull for boats of all sizes. Additionally, you can pick and choose the extra coverage options you need, including legal expenses coverage and skippers’ liability protection.

What separates Allianz isn’t just that it’s one of the leaders in boat insurance solutions but also the fact it was one of the first to embrace the digital revolution. It’s why, even today you don’t have to pick up the phone and can use its user-friendly online portal to manage your policies, make a claim, or access their customer service team.

Despite being such a big name, Allianz offers some of the most competitive premiums, meaning great coverage doesn’t have to mean breaking the bank.

Conclusion: Best Boat Insurance in the UK and Europe

Boat insurance is as vital as car insurance. Protecting your pride and joy doesn’t mean purely having coverage but having the right coverage. If your insurer has a reputation for not paying, making the claims process difficult, and charging through the nose, you don’t have insurance you have a very expensive piece of paper.

Choosing the right insurance gives you peace of mind and protects you should the worst happen. What’s your favourite boat insurer?

Boat Insurance FAQs