Working out the sum insured, boat, equipment and personal effects

When working out the sum, it covers the boat and permanently installed equipment;

personal effects are covered separately,

included at no extra premium up to three per cent and freely agreed above that for an additional

premium.

With an agreed value, the sum insured is the amount paid out in the event of a total loss. It should therefore cover the realistic replacement value: boat, engine, electronics, sails, rig and permanently installed equipment. Retrofitted electronics are what people forget most often.

Personal effects are covered separately: clothing, linen, tools, portable devices. Many policies include them up to a percentage of the sum insured at no extra premium, and higher sums can often be agreed for an additional premium. Check the minimum and maximum amounts in your policy schedule, as they often differ from tariff to tariff. If you carry more aboard, you can top up the sum insured for an additional premium; there is no upper limit.

Cash, jewellery, furs, paintings, antiques and valuables are not covered. If you keep expensive binoculars or camera equipment aboard, it is worth checking whether your household contents insurance covers them away from home.

Worked out for your type of boat

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