Charting a new course: How Visicover is revolutionising marine insurance

Two years after launching into the marine insurance market, Visicover has gathered momentum, with happy customers and five star Trustpilot ratings that suggest boat owners are readily embracing a different approach to protecting their vessels

Visicover offers a comprehensive and flexible digital-first approach that pays dividends in terms of both the ease of securing cover and the low cost of premiums. A wide range of cover options includes racing (at club, national and international levels) plus skippered and bareboat chartering.

Every aspect is managed online, including buying, managing and renewing insurance, with the resulting operational cost savings passed on to customers. At the same time, all policies are underwritten by one of the biggest and most highly regarded insurers in the market. Boat owners therefore benefit from a rare combination of instant availability, cutting edge efficiency and a long legacy of reliability.

Five star Trustpilot reviews highlight key areas that existing clients particularly appreciate about Visicover: Trust and reliability, flexibility and ease of customisation, the streamlined and intuitive user interface, efficient customer service and competitive pricing. In particular the level of customer service and ability to tailor cover wins approval, as does the simplicity of purchasing, renewing and updating policies.

The totally transparent pricing that flexes up and down based on the cover you want at any particular time is a key breakthrough in this market. Importantly, all changes in the level of cover can be made in real time and without administration fees.

It’s therefore easy to add additional skippers on a temporary basis, or extend the cruising area, before reigning it back in at the end of a summer cruise to potentially reduce premiums for the rest of the year. Equally, if you add a new outboard motor during the season, or sell the tender, cover can instantly be adjusted to reflect the change in the boat’s inventory. Thus additional assets can benefit from full protection from the day of purchase, while you can save money if your insurance needs reduce.

Visicover is also pro-active in helping its clients to achieve the best possible value for their insurance and offers the following further tips to find the ultimate balance between low premiums and a high level of cover.

• The more experience you have sailing the type of vessel you’re insuring, the lower the premium. The same is true of qualifications, so increasing your relevant qualification level will reduce the cost of insurance.
• Restrict who will skipper your vessel, ideally keeping it to just yourself as boat owner. If you need to add additional skippers to your insurance, the more qualified and experienced they are the better.
• Vessels equipped with strong anti theft and fire prevention equipment will be cheaper to insure.
• The same is true of vessels kept in a marina, as security is better and the risks are therefore lower, though Visicover realises there are many reasons this is not always feasible.
• Restrict your cruising area, only widening it when you’re planning on sailing further afield, for instance for a summer cruise. This keeps insurance costs down for the rest of the year.
• Consider increasing the excess on claims in exchange for a lower premium.

A really neat element of Visicover’s online portal is that when considering changes such as these and many others, the impact each one has on the premium can be seen immediately, before you commit to the change.

For an instant quote visit visicover.com

Compliance legal statement: Visicover is authorised and regulated by the FCA

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