Class Association Discounts

As specialist marine insurance brokers Cheers Insurance are able to offer special scheme rates that benefit from a 10% discount for the following craft:

• Contessa
• Moody
• Sadler
• Starlight
• Sigma

In addition to our existing broking service that we offer to our clients, we have negotiated an additional 10% discount from Lloyds of London for certain class associations.

The policy cover includes 3m liability, All risks policy wording, Marina benefits clause including marina discounts, Statement of fact (no proposal form required),

Moody Yacht image curtesy of the Moody Owner's Association
Salder and Starlight Yacht images curtesy of Mike Lucas Yachting 

What will my Boat Insurance cover?

Your cover will include the hull, machinery, gear and equipment. Any additional equipment such as dinghies, outboard motors, trailers, personal effects etc may need to be specified separately on the policy.  “Personal effects” are items that you would not necessarily include when you sell the vessel and you should also check that the “single item” limit is sufficient your needs.

Insurance on an “all risks” basis will include accidental damage, theft and physical loss to your vessel. Some Insurers will offer “personal accident” cover for personal injury or death to you and people on board your vessel.  Ask if this is included.

What if I have to make a claim?

As your insurance broker Cheers Insurance Brokers will advise, represent you and work on your behalf if you have to make a claim. We also recommend marine “Legal Expenses Insurance” which will pay for any legal representation and risks not covered by most insurance policies. 

If a claim arises while your vessel is moored on a pontoon berth in an approved marina, check to see if this will affect your “no claims discount” and if the policy excess will be applied. Some insurers will include a “marina benefits clause” which will protect you should a claim arise whilst in an approved marina.

How much should I insure for?

Your policy should offer “third party liability” insurance up to £3,000,000 for you and any person navigating or in charge of your vessel with your permission.
The premium will depend on the value of your craft and other factors such as age, condition and your boating experience amongst others.

Where can I use my boat?

You will be able to cover your craft for cruising in:

• Inland non-tidal waters of the UK,
• Inland non-tidal waters of the UK plus 30 days coastal use
• Inland and coastal waters of the UK, Eire, Channel Islands, Europe from La Rochelle to Elbe.
• Mediterranean waters, not east of 20% degrees east
• Other specified cruising ranges

Will I qualify for any premium discounts?

You will be able to claim a “no claim bonus” discounts of up to 30% and some underwriters will also offer discount for recognised marine qualifications and other factors.  You may be able to transfer your NCB from one craft to another with some companies.

Can I get additional cover?

Water-ski insurance 
If you intend to tow water-skiers or inflatable toys, the liability cover will need to be extended for such use.
Racing risks insurance
If you require racing risks your policy will cover damage to the mast, spars, sails and rigging. This is often called the “racing risks extension clause” and can be added for an additional premium to the policy.  It will usually cover local club and offshore racing.
Boat charter insurance
Specific cover for skipper charter and bareboat charter may be added to the policy.

How can I be sure of what I need?

Cheers Insurance Brokers can advise you on the correct cover and provide appropriate and competitive insurance for your needs.  We are regulated and authorised by the financial services authority.