Insurance Spain

This article on marine insurance in Spain (more commonly known as boat insurance) is designed to help you get the lowest and cheapest quote for your marine/boat insurance. If you are considering buying a boat and you want to find out how much marine insurance in Spain costs then read on and we will give you examples.

Boat Insurance Spain

Do be careful not to simply choose the cheapest marine/boast insurance quote that you find. You should not choose your marine insurance on the basis of price alone. Consider whether the cheapest quote you have found actually gives you the full coverage you require otherwise the policy and premium is a complete waste of money should you need to make a claim.

If you already have a boat in Spain and you are looking to renew then obviously you want to renew your marine insurance for the lowest possible price. Try going to an insurance broker who will be able to compare quotations from many different providers of marine insurance as this will potentially save you enormous amounts of time (as well as money) contacting each insurance company directly yourself.

Try also find a marine insurance price comparison search engine for marine insurance which will take your specifications and instantly search online and compare prices for the cheapest boat insurance on the market. Always shop around as marine insurance in Spain is generally expensive. 

Do take into consideration your language skills. If you are not fluent in Spanish then it is important to take out marine insurance in Spain with policy documents issued in English. Otherwise you won’t fully understand what you are covered for. Don’t take the agent or brokers verbal explanation as when it comes to claiming on your marine/boat insurance you will be the one footing the bill if you find you are not properly covered. So check the small print and ask questions until you are 100% sure the policy if what you want.

Many expats who live in Spain will have moved to one of the Costas (coasts) to enjoy the benefits of the sunshine and living close to the beaches and the sea. Most expats will either be on the Costa del Sol, the Costa Blanca or the Costa Brava.

Naturally it makes sense to enjoy the unique surroundings Spain offers and as such many people will have bought or have considered buying a boat.

Boats don’t come cheap and so marine and boat insurance is essential to protect yourself against the risks of boat ownership, this is most commonly known as marine insurance and covers the ownership of various types of sea-faring crafts including yachts, power boats, motor cruisers, cabin cruisers, canoes, windsurfers, dinghies and jet-skis.

Below we have a video from an expert who discusses the types of marine insurance cover you will need for your boat:

What information is required in order to get a quote for marine/boat insurance in Spain?

In many ways similar to taking out auto insurance these are the typical questions you will be asked:

About you: name, address, your sailing experience, any no claims bonus, whether you have had any previous claims.

About your boat: vessel name, vessel flag, location of berth, value, make and model, hull, dimensions, build materials, engine (if applicable), fuel type, type of use i.e. pleasure/private use or business i.e. charter or rental and whether boat is to be taken out of Spanish waters.

Do I have to take out marine insurance in Spain?

Yes and no - due to increases in the amount of accidents and injuries, especially involving jet skis, the government has introduced compulsory third-party liability insurance. The minimum amount this covers is approximately 325,000 Euros and it aims to cover personal injury claims.

Currently you don’t have to take out comprehensive cover – in other words you sail your boat at your risk if you don’t insure it. You have to have the third-party liability but if your boat sinks then that is your loss should you choose to risk it.