If you’d like to buy a boat there are many choices on offer to help you cover the cost, with loans available from specialist lenders and via marine finance brokers, whether you’re looking at new or used boats. It’s also highly recommended that you take out appropriate insurance cover for your boat.
You might be surprised to learn that it is possible to take a mortgage on larger boats, as well as more conventional loans for smaller craft. Some methods of borrowing can be quite different to the type of lending you are used to seeing for a house or car and the governing laws are different too - with boating you are literally Master under God and subject to maritime law. That sense of leaving the day-to-day humdrum systems of life is a massive point of attraction for many. But for those that might think this sounds daunting there's no need for worry if you deal with a British Marine member company. You can expect to be guided through the process and for your transaction to be handled professionally.
Third party insurance is often required as a bare minimum for many waters and in any event it is sensible to take at least that level of cover. Better still though is to insure your boat comprehensively. Marine insurance policies are usually offered with useful additional cover for peace of mind, such as personal effects while afloat and coverage for guests that you invite onboard. Don't forget to tell your insurance broker if you intend to race your boat as you may need some additional cover.
Whether planning a lazy cruise or to be quickest around the cans, pound for pound you will be surprised at how inexpensive marine insurance can be compared to, for example, car insurance. Especially if you keep your boat in a professionally maintained facility such as those run by British Marine members.
Find boat finance and insurance providers by searching in the Financial and Legal services section of our On The Water website.
Why Choose a British Marine Member?
British Marine is the membership organisation for the leisure marine, superyacht and small commercial vessel industry.
When you buy from a British Marine member you do so with the knowledge that the firm you are dealing with is compelled to adhere to the British Marine Code of Practice as a condition of membership.
In some sectors our members also have additional requirements placed upon them to conduct business in safe manner appropriate to their specialist field. For example, British Marine member boat sales businesses must operate client accounts when handling transactions.
Find a British Marine Member
With over 1600 British Marine members selling everything from marina berths to deck equipment, holidays and kayaks to superyachts, there is sure to be a business that adheres to our Code of Practice to assist you.
Start your search here >
Your Beginner's Guide to Boating
Find businesses selling new and secondhand boats in your area, training centres, holiday boat hire and charter, boating events and more by searching for a member on our website geared to find all you need to get afloat – onthewater.co.uk. It’s a great British Marine initiative designed to help you get the most out of your boating and watersports experiences – you'll finds lots of top advice on there too, plus updates on all the latest boating events.
Our Boat Shows
British Marine owns the London Boat Show which is held indoors at ExCeL every January and the Southampton Boat Show, in September. They both rate within the top 10 boat shows globally, so you can safely assume them to be don't-miss events for your calendar.
Keep an eye on our show websites for further information, including full exhibitor lists and details of features and offers.