Boat Insurance: Can I insure my boat for more than I paid for it?

As boats may well decline in value over time they are often insured for a value which is below the price for which they were purchased. However, there can be circumstances where you may wish to insure your boat for more than you paid for it (e.g. if you have undertaken extensive renovation work).

For this reason, depending on your type of vessel, you may be able to insure it for a value greater than you paid for it. If the increase in value is not too great then it may be possible to obtain an instant online boat insurance quote, otherwise it may be necessary to refer your request to an underwriter for consideration.