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Calculate the premium rate, what insurance costs in relative terms
To calculate the rate in relative terms:
around one per cent of the boat's value a year for insurance is typical, depending on type,
waters and tariff level.
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One per cent sounds like very little, but it varies with the type of boat. Jet skis and racing boats sit above that figure, large displacement boats below. Once you know the rate, you can compare quotes regardless of the absolute sum.
The second calculation is the cost per day afloat. For someone who is out thirty days a year and pays four hundred euros, that works out at just over thirteen euros a day, less than the berth costs on those same days. Someone who is out five days pays eighty euros a day.
That is why the seasonal policy is of interest to anyone who rarely gets out: premium only for the months afloat, but no cover from 1 November to 31 March, not even in winter storage. It is worth it from around four to six months of use a year.
Frequently asked questions
What is a normal premium rate?
Around one per cent of the boat's value a year, varying with type and waters.
When is a seasonal policy worth it?
If you are out for only four to six months.
From 1 November to 31 March there is then no cover, not even in winter storage.
Worked out for your type of boat
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