Boat Owners Must Adhere to Insurance Safety Requirements

3rd March, 2009

A leading yacht and motorboat insurer is urging boat owners to ensure they follow the security conditions set out in their insurance policies.

Navigators & General has said that policyholders not adhering to the specifications of their boat insurance are risking its validity, should they need to make a claim.

The news comes after the insurance company reported that it has rejected a number of claims, because people are not following the relevant security measures.

It also stated that there has been a reported rise in the number of boats and equipment being stolen, as well as the fact that due to the time of year, a larger number of boats are on their trailers and out of use.

In a press release, Navigators & General said: "It is absolutely essential that boat owners who have a trailer take the time to read their policy wording and check what endorsements apply and then comply with these requirements … Sadly N&G has already had to decline a number of theft claims where it has transpired that wheel clamps were not fitted."

Recession predicted to affect boat thefts further

The current economic climate was another concern, with fears that there is a much higher chance of thefts during a recession.

It continued: "At this time of year a larger number of boats than normal are on their trailers and the economic climate is likely to be adding to this, as boat owners look to save money by keeping boats at home when out of use. Add to this the increased theft risks associated with the economic downturn and it is easy to see why these boats are a likely theft target, particularly ribs and speedboats."

Consequently, not only is it vital for all boat owners to adhere to the security measures as stated in their insurance, but they must also ensure they have a comprehensive policy, which adequately covers them for all eventualities.

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