*Please Note Our Office opening hours over the Festive Period*

22nd Dec: 9am to 1pm | 23rd Dec to 27th Dec: Closed | 28th Dec & 29th Dec: 9am to 12pm | 30th Dec to 1st Jan: Closed
2nd Jan 2024: Open as usual between 9am and 5:30pm
We wish all our clients a Happy Christmas and New Year


Buying boat insurance can be much harder than you think. You may not be aware, but no two boat policies are alike. Therefore, making comparisons on premium and excess alone can be very misleading.

Many boat owners are not even aware what the basis of settlement will be under most marine insurance policies should the worst happen!

We believe this to be crucial when making your decision as to what policy to buy and to which insurer your policy should be placed with and as Independent Specialist Marine Insurance Brokers it is our job to help you make that decision.

The Choice................

At Porthcawl Insurance Consultants (UK) Ltd we work with insurers and underwriting agencies that we feel provide quality marine insurance policies with the insurance security underwritten in the UK. As a result we can offer several policies the choice being:

  • The Agreed Value policy
  • The Market Value policy

The Agreed Value Policy is a traditional indemnity based contract. Insurers will therefore place you in the same position as prior to loss. The contract is based on the price paid for the vessel or a surveyor’s valuation, which becomes the agreed value in the policy.

This type of policy has the benefit that insurers will pay out on this amount and will NOT make deductions for depreciation, inflation or currency fluctuation except, in some cases specified in the policy such as wear and tear on machinery and masts, spars and rigging, outboard engines where a deduction will/can be made. This type of policy suits clients who wish to know EXACTLY what they will be paid out prior to loss. The only drawback is that it can be more expensive than other types of cover.

The Market Value Policy is an unvalued policy and the value of the boat is not determined UNTIL loss. An independent surveyor will be appointed by the Insurer to do this should the need arise.

The benefit of this type of policy is that it enables you the boat owner to take into account depreciation of your boat, and therefore set your own value for insurance purposes. You could benefit from significant savings in the insurance premium.

Caution should be noted on setting the market value too low, since, if you under insure the vessel against its true market value, Insurers will make an adjustment in the settlement of your claim if the total sum insured is considered inadequate at the time of loss or damage. The decision............................ Is yours of course. However rest assured, as a leading Specialist Marine Insurance Broker we will recommend the most competitive premium we are able to provide from our panel of leading insurers who we feel will cover your needs and demands.


So ...Make your first Port of Call: Porthcawl Insurance Consultants (UK) Ltd Independent Marine Insurance made simple The right price and the right cover


Call us on +44 (0)1656 784866 or   CONTACT US