Boat Insurance: What is a Marine Mortgage?

Some owners may arrange finance when they buy their boat, and such loans are often called ‘marine mortgages’. The finance company will usually require that the boat is insured, and also that their financial interest is noted on the boat insurance policy.

We include the facility for boat owners to note the details of any mortgage on the policy, including the value of the loan, the contact details of the mortgage company concerned, and their financial interest in the boat.