Buying a boat

Buying a boat is a significant investment, so when it comes to paying for it, you need to make sure you’re protected. A deposit is usually required and the rest is paid for in stages. To protect your interests the contract should be based on the Royal Yachting Association (RYA) Agreement for the Construction of a New Boat.

Buying a boat

Under this agreement, ownership of the unfinished boat is gradually transferred to you as work progresses, so in the event that the builder fails, you will still be able to recoup your investment.

Under the EU Recreational Craft Directive (1996), anyone who wants to sell a new boat on the European market has to make sure it is CE-certified - this mainly concerns the stability and safety of the craft. However, it also demands that manufacturers provide a technical file saying how they intend to build and equip each craft, leading to an increase in the standard of boat building.

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Buying a second-hand boat
New boats can be expensive and the value depreciates as soon as you take delivery, thanks to dealer’s margin, delivery costs and so on. In terms of straight value buying second-hand can sometimes be a better bet, especially if you buy privately and do not have to pay broker fees usually charged on brokerage sales.
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Security marking
No matter what you do to protect your boat, there is still the possibility of a thief breaking in. In the unfortunate event that your boat or equipment should be stolen, there are measures you can take which will help aid the Police in finding it.
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Selling your boat
When it comes to selling your boat, don’t forget the equipment. Generally it will be easier to sell the boat as a package with all its gear but if you are selling in order to buy another boat, you will probably want to take some contents and equipment with you – portable gear such as lifesaving equipment, for instance.
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Home insurance
Cover of up to £50,000 for contents and up to £500,000 for buildings as standard.
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Travel insurance
Cover for most pre-existing medical conditions and no upper age limit.
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International payments
A quick, safe and low cost money transfer service.
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Boat Insurance

Saga Boat Insurance is designed to meet the needs of boat owners aged 50 and over. We cover most types of boat and offer insurance that provides high levels of protection, to give you peace of mind.

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