British Marine Federation Statistics Highlight Value of Boat Insurance

The British Marine Federation released their Spring 2010 Industry Trend Results last week in a report that will come as a welcome relief to industry professionals and enthusiasts alike. The research suggests that the marine and boating industry has managed to stay above water during the worst of the economic downturn, and is now progressing forward at what is being described as a ‘steady’ pace. But with the statistics suggesting that more crafts are due to return to Britain’s coasts and waterways, boat insurance specialists ‘Insure My Boat’ are highlighting the necessity of effective cover.

36% of the businesses consulted said that marine activity had increased over the last 6 months, as opposed to the 26% who disagreed. While this may seem negligible, it does result in a net balance of +10% which experts are citing as a good indication for continued growth during the second half of the year and into 2011. But while most would agree that the recent figures should be welcomed, it’s feared that an influx of sailors of all kinds could lead to a boost in collisions and organised crime.

David Quick, Director of Insure My Boat welcomed the return of increased opportunities for all in the marine sector, but urged caution in the face of these predictions. He said:

‘This report really does vindicate those industry professionals and enthusiasts who have stood by and supported the marine sector during the difficulties of the past few years. It would therefore be a terrible shame to see those sailors who return excitedly to the water suffer at the hands of marine craft theft or collisions of any kind. That’s why the Insure My Boat team feel that boat insurance is so essential.’

It’s clear that, should crime statistics begin to rise, the commercial marine sector will do everything it can to safeguard the crafts and possessions of private boat owners. The British Marine Federation report denotes an admirable optimism amongst those involved in the sector. As many as 40% of those surveyed viewed the coming six months as having good or excellent prospects, suggesting that criminals face a confident and united industry.

However experts are reminding commercial and private boat owners that only they have the power to truly protect their investments by sourcing effective boat insurance from a provider like Insure My Boat. The recession has reminded many sailors of the importance of protecting what equity they have, regardless of the commodity to which it is tied.

Over and above what the Federation’s report quantifies, many people in the marine and boating industry are speaking of an excitement in the air that tells of better days to come; it would be a shame to miss out on the industry’s exciting recovery due to neglecting to secure adequate and cost effective boat insurance cover. For more information about the insurance policies from Insure My Boat, visit their website or fill out an online contact form.

Insure My Boat is an established company that prides itself on its simple and effective online boat insurance quotes. For more information visit their website insuremyboat.co.uk.

Tags: Boat Insurance