Boat insurance in Portugal

Victor | Essencial Portugal

In the event of a nautical accident, your boat insurance in Portugal may assume the value of the damages you may cause to third parties or those suffered by your boat and its occupants, depending on the level of protection you choose.

Your boating insurance may contain different types of coverage such as :

Third party liability: the value of the damage you cause to other people or boats, in accidents resulting from your responsibility.
Your personal damage: the total loss of your boat or the cost of repairing it.
Personal accidents (occupants): compensation in case of death or hospitalization of the boat’s occupants

In the case of your boat, insurance for your personal damage generally applies only in the following situations:

Accident in the water, including the cost of salvage or wreck removal.
Accident ashore
Accident while launching / taking the boat out of the water
Accident during the transport of the vessel ashore

Liability insurance is mandatory for pleasure craft owners who have at least one engine as a means of propulsion.
This obligation is also extended to sailboats over 7 m in length.

English-speaking insurance broker in Portugal

If you would like to take out boat insurance in Portugal but don’t know where to start, how to identify the different insurers, understand the contracts or take out the right insurance for your boat, then you can use the button below and fill in the dedicated form. Your information will be forwarded to an English-speaking insurance broker based in Lisbon and specialising in insurance in Portugal.

He will be able to help you through the whole process and be your English speaking intermediary with the main boat insurance companies in Portugal.

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Boat insurance offers in Portugal

You will find below an example of 3 covers proposed by a boat insurance in Portugal. This will give you an idea of the cover and the coverage. This is of course only an example and the cover may vary from one insurer to another but they are all very similar.

Basic boat insurance

This insurance is generally for those who simply wish to meet the legal requirement to have liability insurance for pleasure craft.

Coverage of the value of the damage caused up to a limit of 250,000 euros in Portugal or 337,000 euros in Spain, in accordance with the legislation in force.
Legal protection and assistance to Vessels and Persons, i.e. if you have a problem at sea, the insurer will send a tugboat to assist you (within the waters defined in the terms of the insurance – this may be up to 20 miles from a port and 6 miles from the coast, depending on the insurer).

Intermediate boat insurance

This boat insurance in Portugal is intermediate, for those who wish to have the benefits included in the minimum insurance but also more coverage in case of other problems:

Voluntary Civil Liability: if, as a result of a nautical accident, the value of the damage caused to third parties exceeds the limit guaranteed by the Compulsory Civil Liability.
Claim for damages and advance of compensation: legal assistance in case of a dispute with another entity with which you have had an accident
Personal Accidents of Ship Occupants: In the event of an accident resulting in injury, the insurance will reimburse the cost of treatment or compensate you or your family for death or disability resulting from the accident.
Additional assistance to people and the boat: this increases the geographical distance of the navigation assistance service.

Superior Boat Insurance

This type of insurance includes many covers and is of course the most expensive boat insurance in Portugal. But it is also the one that gives you the most peace of mind for boat trips from Lisbon, the Algarve or anywhere else in Portugal.

If you choose this type of boat insurance, then you will have the cover provided by the first two versions of the insurance but also additional options such as :

Total loss and removal of the wreck of the vessel: if as a result of a boating accident covered by the Policy your vessel becomes completely unusable, the Portuguese insurer may compensate you up to the value of the vessel at the time of the accident and will guarantee the reimbursement of the wreck removal costs within the limits established by your insurance policy in Portugal.
Theft: the boat insurer will compensate you for the value of your boat at the time of theft or for any damage caused to the boat following an attempted theft, within the limits set by your insurance contract.
Partial damage: if, as a result of an accident covered by the policy, the vessel has to be repaired, the insurance may assume the value of the repair (up to the insured value or the value of the vessel at the time of the damage).
Socio-political acts: if, as a result of a terrorist act, sabotage, strikes or social and civil unrest, your boat is damaged, the boat insurance in Portugal can cover the value of the repair (up to the insured value or the value of the boat at the time of the damage).
Objects for personal use: the insurer can finally compensate you for personal objects identified by the police, which are carried on board the boat, following a nautical accident or theft when the boat is moored in port.

Of course, it should be noted that all coverages vary according to what was defined when you took out your boat insurance in Portugal.

Exclusion of boat insurance in Portugal

There are events that are not usually included in your boat insurance policy, such as accidents that occur when the valet is under the influence of alcohol or does not have a valid license to drive the boat.

In these situations, the insurance company is under no obligation to pay compensation. These are just two examples, the complete list of situations that do not give rise to compensation can be found in the general policy conditions that you should be aware of and pay attention to.

In these types of situations, the insurer may ask you to repay any compensation you may have received as a result of the accident.
The amount you have to pay for your boat insurance in Portugal depends on the individual characteristics of the boat and the cover option you have chosen. Before taking out insurance, it is strongly recommended that you are accompanied by an insurance professional in Portugal.

To be put in touch with an English-speaking insurance professional based in Lisbon, you can use the button above and the associated form.
The value of your insurance can be paid annually, semi-annually or quarterly. If you choose to pay your Portuguese boat insurance annually by automatic bank debit, you will usually be able to obtain a discount of up to 5%.

English-speaking boat insurance broker Portugal

By validating the contact form, you authorize me to forward your request to an English-speaking insurance broker who will be able to contact you directly. Nothing is automated: they are people I know, based in Lisbon and who are qualified to accompany you in your approach & your project.

Insurance in Portugal

You will find below all the insurances in Portugal for which you can call upon my specialized partner broker:

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