Boat Finance and Boat Insurance
Once on the road to buying a boat, marine finance and boat insurance
must be something to which you give serious thought. There are
two ways that you can obtain fianance the first is via a Marine
Mortgage which is more suitable for boats in excess of £10,000
, the second is via a Marine Loan which is more suitable for the
smaller boats or for refitting boats. Insurance and registration
of your boat will normally be required by the finance company.
You may be lucky and not require any finance to purchase the boat
of your dreams, but if you do need finance have a look through
Finance section for further information.
After purchasing your boat, the next sensible step would be to
insure it against the usual hazards of owning a boat which include
damage, sinking, collision, theft etc, along with third party
insurance especially if your boat is to be moored in a marina or
harbour. You will also find guidance and links on boat insurance
within the Boat
Insurance section. Remember that insurance on a boat
is not a legal requirement, unlike car insurance, though it may
be required if you have any form of marine finance.