Boat Insurance Glossary

Welcome to our Boat Insurance glossary, select a letter to navigate to our list of available definitions;

3 | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | R | S | T | U | V | W | Y |


Boat Insurance Definitions beginning with - 'R'

Racing risks

  • Racing risks provide insurance for your vessel (usually yachts or dinghies) while racing. This is classed as a boat insurance addition, therefore you must state this is required and the value of your rigging upon application. Inevitably an additional levy will be charged for this boat insurance item to cater for the increased risk of a claim.

Rate

  • Rate refers to a calculated value which is multiplied against the vessel value to determine the boat insurance premium. The rate is determined through a series of factors such as boat type, mooring location, cruising range, boat age etc.

Recovery

  • This is a monetary sum retrieved by a marine insurer either from an individual or from their insurer being owed/ arising due to a boat insurance claim.

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.

Risk

  • The factor(s) that dictate the likelihood of a claim. These factors are used by the boat insurance underwriter to calculate the cost of a boat insurance quote. Typical factors include previous claims history, type of mooring, vessel type, cruising range, engine size, boat age, vessel valuation.

Top


All boat insurance terms are given provided with good intent only. All are subject to correction or amendment at any time. They are also secondary to any definitions provided in our boat insurance policy documentation.

Home | Quick Quote | News | Sitemap | Contact

Mercia Marine are authorised and regulated by the
UK Financial Conduct Authority, reg:304948

Copyright © 2015 (privacy policy)

DJH monitoring details (Blank Quote)...

StartTime: 25/09/2017 06:59:16

Opened connections - 46
Closed connections - 46