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Get Yourself a Great Boat Insurance quote!
Mercia Marine consistently challenge themselves to ensure their policy prices are highly competitive. Mercia Marine know that their customers not only want a high quality of insurance, but also expect great value for money. Whilst Mercia Marine believe they achieve this (see reasons below), many customers do not understand that there are also a number of decisions/ actions that they can make that will ultimately lead to a reduced boat insurance quote. Listed below are the key factors that can affect or increase the cost of their boat insurance policy.
Key factors affecting boat insurance quotations
Your vessel valuation:
The key aspect of comprehensive boat insurance quotes are that quotations are predominantly determined simply through multiplying your stated boat value against a rate determined by the other responses you give (e.g. boat type, cruising range, mooring location etc). Whilst without question, of course you should not de-value your boat, overvaluing it will inevitably lead to higher insurance costs. So Mercia Marine advise all customers to check the true market value of the vessel before generating quotes.
Comprehensive Vs Third Party Only insurance:
Mercia Marine do not recommend this, as the cost of repairing your own vessel would fall upon yourself in the event of an accident, however Third Party Only cover will normally significantly reduce your policy quotations.
Additional cover items:
Again, whilst Mercia Marine don’t recommend it, not opting for breakdown, legal or contents cover will lead to a lower boat insurance quote as these are additional policy add-on's.
Certain mooring types (e.g. private marinas or mooring ashore) are considered safer - statistically they are less likely to lead to a claim. Meanwhile adverse swing or tidal moorings are considered more risky (especially if you do not have an auto-bilge), therefore when asked for mooring type this decision (and therefore any future decisions about choice of mooring) will inevitably directly affect your boat insurance quote.
Yacht insurance racing cover will inevitably cost more due to the additional risks involved with racing
Water-skiing and water toys:
RIB or speedboat owners are charged additionally for both the water-skiing option and the water toys option.. again to save money perhaps you don’t need both?
Whilst there is little you are likely to be able to do short term please be aware that many boat types over a certain age (e.g. 20 years) can attract slightly higher quotations (this is due to the increased likelihood of hull/ boat disrepair causing a claim).
No claims bonus:
Finally, while clearly a many insurance claims are both unforeseen and unavoidable, there are also equally as many that could be avoided. Here are a few recommendations... staying safe and avoiding claims.
Reasons why their quotations are so competitive
Whilst Mercia Marine always strive to offer a high quality of boat insurance and service to their customers, Mercia Marine are sensitive to making sure Mercia Marine can still offer these at highly competitive rates.
- Mercia Marine underwrite tens of thousands of UK customers annually, which means Mercia Marine get the very best prices.
- Mercia Marine tightly control their business overheads so that these costs aren’t passed on to you.
- Mercia Marine offer up to 6 years no claims discount (most insurers only provide 5).
- Mercia Marine constantly monitor market prices.
Finally, shop around… Mercia Marine mean it!
Why not get yourself a boat insurance quote
from us. Mercia Marine believe their rates are as competitive as any in the market so if you find a better value, like for like boat insurance policy elsewhere not only do Mercia Marine want to know about it and have the opportunity to quote against it, all you need to do is contact them with details of the competitive quote and tell them you want it beaten... simple!