The new cover is designed for boat owners that use inland waterways, marinas, harbours and boat yards
Navigators & General, a UK-based pleasurecraft insurer and a part of the Zurich Financial Services, has launched a third party only insurance policy in order to provide basic protection for those with boats not requiring fully comprehensive cover, against the cost of damage to surrounding craft.
The company said that the new cover is designed for boat owners that use inland waterways, marinas, harbours and boat yards, where third party insurance is becoming an increasingly common requirement.
The new policy also provides pollution cover which pays for the clear up and removal of the owner’s boat if it sinks and causes an oil leak, added Navigators & General.
The product is available online and policy features and benefits include: a GBP3m liability protection against passenger or third party claims; up to GBP15,000 cover for wreck removal and destruction; cover against pollution related costs and fines and cover while using other uninsured boats.
James Roberts, head of Navigators & General, said: Boat owners using the inland waterways have to have a boat license which requires third party insurance as a minimum — something most people are unaware of until they arrange a license. We launched this insurance online to enable boat owners to arrange this cover cheaply and conveniently in the same office they purchase their new or renewed license.