Welcome to our Boat Insurance glossary, select a letter to navigate to our list of available definitions;
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Indemnification
- Indemnification is the key direct advantage of any basic boat insurance policy. It is the process of reducing risk so that in the event of an unexpected loss those suffering the loss are restored, or at least moved significantly closer, to their pre-loss economic position.
Yacht Boat Broker
- A broker is a person who buys and sells goods or assets for others. Therefore the yacht boat broker is to boat sales what a yacht insurance broker is to insurance sales. They provide a mid-point between the customer and supplier to bring about a contract of trade upon a yacht. See insurance for yacht brokers for more details.
Riggers Insurance
- The boat rigger is responsible for a wide range of activities in fitting out a boat. Boat rigger insurance is therefore is a type of insurance which we offer to businesses / sole traders whose career is fitting out boats, see... boat riggers insurance for more details.
Marine Surveyor Insurance
- For those who specialise in marine surveying there is a need to buy insurance that covers you for the wide range of activities that all form part of your job. Our Marine Surveyor Insurance is a specialist type of insurance which we offer to businesses / sole traders, see... marine surveyor insurance for further details.
Deductible (or excess)
- When making a boat insurance claim, the deductible is the first part of the claim (the excess) to be paid out by the claimant.
NB: As general rule the higher the considered risk the higher the deductible tends to be to reduce the cost of your boat insurance.
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