Boat Insurance

Is it mandatory to take out boat insurance?

In Spain, RD 607/1999 obliges recreational or sports boats to have insurance for Civil Liability In the following cases:

• motorized boats
• Boats that have a length greater than 6 meters (even if they do not have an engine)

Can I increase the capital of Civil Responsibility in the insurance of the boat?

RD 607/1999 provides that the limits of compulsory insurance are as follows: 

• Material damage: €96.162
• Personal injuries: €240.406

Although these limits can be extended by the Voluntary Civil Liability guarantee, whose capital will depend on each insurer. 

Can any type of boat be insured?

Regardless of the obligation to take out Civil Liability insurance, It is possible to insure any type of boat: motorized, barges, sailing, jet skis, etc. 

Can a boat for rent be insured?

Pleasure boats for profit (List 6th registration), can also be insured in the same way as those used without profit (List 7th registration). If you use your boat for rental or leisure and tourism activities, you should consider hiring the accident coverage for the occupants. 

What optional coverage can I take out in boat insurance?

In addition to the mandatory Civil Liability guarantee, the following optional coverages can be contracted:

• Material damage, including damage to the hull, engine, personal effects, accessories or sails as a result of shipwreck, stranding, stranding, boarding, crash or collision with fixed or floating objects, storm, fire or explosion and theft.
• debris removalwhen so ordered by the authorities
• Towing at sea and salvage costs, in case of breakdown or accident
• Personal accidents of the occupants, including medical assistance and coverage in case of death or disability.

What is boat insurance with English conditions?

English conditions or Institute Yacht Clauses (IYC) are characterized by greater insurance protection. It resembles insurance All risk where everything that is not expressly excluded in the policy is insured). 

Is it possible to take out boat insurance?

For insurance purposes, there is no difference between insurance for boats or boat insurance. 

Is it possible to bring the boat insurance receipt?

Although there is no such obligation, it is advisable to carry both the copy of the policy and the receipt on the boat. It may be required by the authority, or even need the policy number to request assistance from the company. 

How much does boat insurance cost more or less?

The price of insurance for boats in the Canary Islands It depends on the type of boat, the use to which it is intended and the coverage that you wish to hire. With our insurance brokerage in Tenerife and Las Palmas it is possible calculate in a few minutes the price for your boat insurance.