Why should you insure your boat?

Boat insurance takes cares of your boat and its equipment, while giving the boat’s owner a piece of mind. It covers the damages your boat might face, such as: collisions, grounding, transportation damages, and possible boat thefts.

Boat insurances also usually cover the damage you might cause to others while boating. If you crash into another boat your insurance will help you to cover the costs that might otherwise climb up to unimaginable heights.
In Finland, insuring your boat is not demanded by law, but it is strongly encouraged.

You insure your car, so why shouldn’t you insure your boat.

Insurance covers your plotter

Insuring your boat is especially wise if your vessel has an electric plotter. Boat insurances usually always include the boat’s navigation system, engine, tools, spare parts and other equipment. There’s no point in buying an expensive boat with a top-notch navigation system and not insuring it.

Because The Experience’s plotters are factory-installed to boats and are a standard equipment, they are always included in boat insurances. However, you should always read the terms and conditions of your insurance to know exactly what your insurance includes.

Boat insurances cover:

The exact list of what an insurance covers always differs for every insurance company. However these are the main things boat insurances usually cover for a boater.

  • Accidents while boating. Insurance covers grounding and collisions in water, whether it is with a pier or another boat.
  • Theft and malicious damage. Covers boat thefts and vandalism to your boat.
  • Fire cover. Insurance covers your boat in case of a fire, a lightning strike or an explosion.
  • Transportation and storage. When lifting or transporting your boat ashore your insurance covers the possible damage. Insurance usually also covers possible damage during the winter storage period.
  • Machine breakdown. Covers the damage caused by the breakdown of the engine, transmission or propeller.
  • Boat liability. Insurance covers the bodily injury or property damage to another person. This is the same as a traffic insurance for a car.

How to choose the right insurance?

Boat insurance can be chosen from an insurance company of your own liking. See which companies in your country are offering boat insurances and choose the one that fits your needs the best.

In Finland boat insurances are offered by:

  • Alandia

Alandia is an insurance company specialized in marine and boat insurances. The company also works in Sweden.
Other Finnish insurance companies that offer boat insurances:

  • Lähi-Tapiola
  • OP
  • If
  • POP Pankki
  • Turva
  • Fennia
  • Säästöpankki
  • Pohjantähti

You should always compare different insurances to each other before choosing the one you sign up for. This way you won’t end up paying too much and you’ll find the right insurance for your boat’s specific needs.

Remember that there are different insurances according to your boat type and boating needs. More comprehensive insurances are usually always more expensive, but also a better option if you want to ensure a total piece of mind.

Ensure safe boating for the next boating season

You can take up a boat insurance for your boat anytime of the year, even if your boat is in storage and not in the water. Boat insurance protects your boat all year around, no matter the season.

The boating season of 2020 is still going on but slowly fading to the colder winter times ahead. It’s time to turn our attention to the next boating season and the news it’s bringing. What could that mean? Well… The Q Experience will be launching a new Q generation later this year!

Stay up-to-date with all Q News here!