Boat insurance costs could be cut with Harbour Watch scheme

26th August, 2008

Boat insurance premiums for marine enthusiasts could be set to fall dramatically with the introduction of a scheme to cut down on boat thefts.

The Harbour Watch scheme has been backed by RNLI, the Poole Marine Police and the Maritime and Coastguard Agency in conjunction with boat insurance providers, and aims to reduce crime along the banks of the UK's rivers.

This is set to be achieved by the use of a huge database which will enable small boat owners to track the complete inventory and history of their vessel, the News Guardian reports.

In the event that the vessel is stolen, email reports will be sent out both to the police to urge boat owners to look out for it. The improved recovery rates are expected to result in a reduction in boat insurance premiums being offered by boat insurance providers.

Northumbria Police chief inspector Kevin Wellden said: "We have recently seen a rapid growth in the number of leisure craft using the Tyne, alongside an expansion of riverside economy.

"As a result, we welcome any assistance that helps reduce crime along its banks and promotes safety on its waters, and we look forward to working with Harbour Watch in the future."

Boat owners can also cut the cost of their boat insurance by fitting tags manufactured by boat insurance specialist Noble Marine. The boat insurance company is currently offering the devices at a reduced rate for a limited period.

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