The cost of boat insurance can vary significantly based on several factors. Insurers set premiums according to risk factors such as the owner’s experience, the type, size, and age of the boat, as well as its usage, location, and cruising area. Additionally, premiums are influenced by the potential cost of settling claims. On average, annual premiums can range from a few hundred to several thousand pounds. For an accurate quote that reflects your specific needs and circumstances, contact an insurance provider specialising in boat insurance.