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Speedboat insurance in Greece

DigiCare Insurance arranges hull, outboard and third-party liability cover for speedboats and open motor boats kept in Greece, on a mooring, ashore or on a trailer, on the same policy as our yacht insurance. You read the theft and trailer conditions before you pay.

  • 100% of the agreed value on a total loss, outboard and equipment included, less your deductible
  • Third-party liability at or above the Greek minimum (Law 4926/2022): €150,000 per person, €700,000 per event
  • Up to 80% of what you spend to save the boat, paid on top of the hull sum

Theft is paid only with visible signs of force; ashore, only theft of the whole boat from a locked building or a place the underwriter approved in writing.

Get a speedboat quote

Reviewed by Costas Matheou, licensed insurance agent

Law 4926/2022, Art. 74

Is speedboat insurance compulsory, and what we cover

In Greece a motor boat is a speedboat when its engine passes the port-regulation limits, for example an outboard over 30 HP, or over 15 HP on an inflatable or V-hull (ΓΚΛ 20, Art. 2). A speedboat of 7 m or less must carry third-party liability insurance (Law 4926/2022, Art. 74); a boat over 7 m is a pleasure craft under Art. 17. The minimum pays other people, not your boat.

Death or bodily injury

Greek legal minimum
€150,000 per person, €700,000 per event, €2,100,000 per insurance period

Our policy

Third-party liability, one limit per occurrence in your Schedule

Damage to property

Greek legal minimum
€150,000 per event, €450,000 per insurance period

Our policy

Inside the liability limit, with legal costs

Pollution, fuel spill included

Greek legal minimum
€150,000 per event, €450,000 per insurance period

Our policy

Sudden and accidental pollution, known within 72 hours and reported in writing within 7 days, inside the liability limit

Removal of a wreck

Greek legal minimum
Not set

Our policy

Removal-of-wreck costs you are legally liable for count toward the liability limit

Hull, console and fittings

Greek legal minimum
Not required

Our policy

Agreed value, total and partial loss

Outboard engines

Greek legal minimum
Not required

Our policy

Part of the insured boat: accidental damage, and theft with signs of force

Theft

Greek legal minimum
Not required

Our policy

Afloat, ashore and on a trailer, on the conditions under Theft

Trailer

Greek legal minimum
Not required

Our policy

When your Schedule shows a sum: accidental damage, and theft from a locked or fenced place

Personal belongings

Greek legal minimum
Not required

Our policy

Optional; up to USD 5,000 per item

Towing after a breakdown

Greek legal minimum
Not required

Our policy

Optional; if the boat is disabled away from a safe harbour: a tow, delivery of fuel or parts (not their cost), or emergency labour, up to its limit

Engine breakdown (extended machinery cover)

Greek legal minimum
Not required

Our policy

On request, priced separately, subject to the underwriter's approval

A section applies only when your Schedule shows a sum for it; we ask for a liability limit at or above the Greek minimum. Need only the compulsory cover? See boat third-party insurance. For a cabin motor boat see motor yacht insurance; for a RIB, RIB insurance.

Theft conditions

Outboard and boat theft: afloat, ashore and on the trailer

Every theft claim needs visible evidence of force, such as a cut lock, a forced bracket or a broken door. An outboard or a boat that disappears without such signs is not paid.

Whole boat stolen from her mooring or at anchor
Paid if the condition is met: Paid at the agreed value, less your deductible, with visible evidence of force or forced removal
Outboard stolen from the boat afloat, lock cut or bracket forced
Paid if the condition is met: Paid with visible evidence of forced removal
Outboard, electronics or gear gone afloat, no sign of force
Not paid: Not paid (mysterious disappearance)
Belongings taken after a break-in on board
Paid if the condition is met: Paid under the personal belongings section, up to USD 5,000 per item
Whole boat stolen ashore from a locked building or a place the underwriter approved in writing
Paid if the condition is met: Paid with signs of forced entry
Boat ashore in an open yard, field or on a beach not approved
Not paid: Not paid
Outboard alone stolen while the boat is ashore
Not paid: Not paid, unless your Schedule carries the on-land theft extension
Boat on her trailer in a locked building or enclosure, entry forced and ball lock destroyed
Paid if the condition is met: Paid (whole boat and equipment)
Boat on her trailer in a street, driveway or open car park
Not paid: Not paid, unless agreed in writing beforehand
Trailer hitched to your car
Paid if the condition is met: Needs a fully working ball lock, plus the locked-place and forced-entry conditions above
Trailer itself stolen
Paid if the condition is met: Paid under the trailer section, from a locked building, fenced facility or approved place

Damage caused by an attempted theft is paid only where the theft itself would have been.

Source: the London Marine policy wording we place (Yacht Insuring Agreement LMI18M0136-5): theft provisions p.4, Theft Coverage Warranty p.5, trailer cover p.9; on-land theft extension in the clauses p.7.

Speedboat insurance cost

What sets the price of your speedboat cover

There is no fixed price. The underwriter rates each speedboat from the questionnaire, starting from the value you agree for the boat and her outboard. The quote is free.

  • 12-month cover in euro, paid by bank transfer
  • Quote from one questionnaire
Get a speedboat quote

  • The boat

    What we ask
    Builder, model, year, length, hull type, flag

  • Agreed value

    What we ask
    Boat, outboards and equipment together; the percentage deductible is taken from it

  • Outboards

    What we ask
    Make, model, year and total power in hp

  • Top speed

    What we ask
    Maximum speed in knots

  • Where she is kept

    What we ask
    Marina, swinging mooring, ashore or on a trailer at home, and how she is secured

  • Trailer

    What we ask
    Make, year and value, if you want it covered

  • Cruising area

    What we ask
    The navigational limits in your Confirmation of Cover

  • Use

    What we ask
    Private use; water-skiing and towed inflatables declared at quote stage

  • Skippers

    What we ask
    Each named operator: licence, experience, claims

  • Deductible

    What we ask
    A hull deductible of 1% to 5% of the hull value; a higher one lowers the premium

Agreed value is the sum you and the underwriter fix at the start; it is paid in full on a total loss, less your deductible.

Placed in the London insurance market through London Marine Insurance Services Ltd, a Lloyd's-accredited broker.

Exclusions

What speedboat insurance does not pay

  • Outboard or engine failure from wear, age or lack of servicing
  • Manufacturing, design or latent defects
  • Scratches and dents; osmosis, blistering and electrolysis
  • Ice or freezing
  • Theft without visible signs of force; theft ashore outside a locked building or approved place; on a trailer, outside a locked building or enclosure
  • Road transport more than 150 miles from where the boat is kept, unless agreed in writing
  • Liability while the boat is towed on her trailer, except when launching or hauling out with an insured person in charge
  • Trailer tyres; a trailer loaded or driven beyond the maker's limits
  • The person being towed; with the water-skiing endorsement, liability while towing stops at USD 50,000 per incident
  • Fire after extinguishers (if fitted) were not maintained or weighed every year
  • Liability to your own family or household
  • Races, speed trials and timed runs not agreed in writing
  • A skipper who is not a named operator; a boat that is not seaworthy
  • Fines, loss of use and travel costs
  • "Cigarette" boats, trimarans and cement hulls; jet skis are outside this policy
  • Boats under the Russian flag, and owners on a sanctions list

Example collision repair

€6,000

You · €600Underwriter · €5,400

Illustrative example, not a quote: on an agreed value of €30,000 for boat and outboard with a 2% hull deductible, a €6,000 collision repair costs you €600 and the underwriter pays €5,400. The same repair after a named windstorm carries a deductible of 10% of the hull value: you pay €3,000, the underwriter €3,000.

4 steps

How to insure your speedboat online

  1. 01

    Fill in the questionnaire

    Speedboat is preselected: boat, outboards, value, where she is kept, skippers.

  2. 02

    Get the terms and the IPID

    Before you pay. If the underwriter asks for a survey, it must be received and approved within 45 days of the start date, and its recommendations carried out within 30 days.

  3. 03

    Pay by bank transfer

    Cover runs 12 months from the date in your Confirmation of Cover.

  4. 04

    Keep the certificate on board

    Greek law accepts the insurance certificate in Greek or English, kept on board (Art. 74(2)); the skipper carries the speedboat licence.

Documents: boat registration, skipper licences, outboard make and serial number, where she is kept.

  • Registration
  • Skipper licence
  • Outboard details
  • Where she is kept

Claims

If the boat or outboard is stolen or damaged

Limit the damage at once. Report a theft to the police or port authority and photograph the forced lock or bracket. Give London Marine written notice as soon as possible and let the underwriter inspect before repairs.

  • Legal action on a claim within 1 year of the incident
  • English law, arbitration in London
Get a speedboat quote

FAQ

Questions about speedboat insurance in Greece

Is speedboat insurance compulsory in Greece?
Yes. A speedboat of 7 m or less must carry third-party liability insurance under Law 4926/2022, Art. 74; a boat over 7 m is a pleasure craft and needs it under Art. 17. The minimums under Art. 17(3)(α) are €150,000 per person, €700,000 per event and €2,100,000 per period for injury, and €150,000 per event for property damage and for pollution. Sailing uninsured is prohibited: under Art. 74(3) the owner is fined €150 per metre of length, the skipper €100 per metre (€150 if the owner is the skipper), and €50 is due if the certificate is not on board. Hull and theft cover are your choice; for other boats see yacht insurance.
My boat is a small open boat with an outboard. Does it need insurance?
Only if it counts as a speedboat under the port regulations (ΓΚΛ 20, Art. 2(1)): an outboard over 30 HP, a petrol inboard or sterndrive over 40 HP, or an inboard diesel over 70 HP; on an inflatable, V-hull or multihull, over 15 HP outboard, 30 HP petrol inboard or 50 HP diesel; any water-jet over 15 HP. A traditional wooden boat with an inboard engine is not a speedboat. Over 7 m every leisure motor boat needs cover under Art. 17. Older rules quoted online, such as a 25 HP limit, no longer apply; if in doubt, check your boat's papers or ask the port authority.
What licence do I need to drive a speedboat in Greece?
A speedboat operator licence (άδεια χειριστή ταχυπλόου σκάφους), issued by the port authority after an exam; the holder must be 18 or over (ΓΚΛ 50, Art. 3(2)). On our policy only the operators named in your Schedule may drive.
Is my outboard covered if it is stolen?
Yes, when there is visible evidence of force, such as a cut lock or a forced bracket; without such signs the loss is not paid. While the boat is ashore, only theft of the whole boat from a locked building or an approved place is covered, unless your Schedule carries the on-land theft extension.
Is my speedboat covered on her trailer and on the road?
Theft on a trailer is paid only from a locked building or enclosure, with forced entry and the ball lock destroyed; a trailer hitched to a car needs a working ball lock. Damage on a road trip more than 150 miles from where the boat is kept is excluded unless agreed in writing first. The boat policy does not pay liability while the boat is towed on her trailer, except when launching or hauling out with an insured person in charge; Greek motor insurance law treats a trailer as a vehicle, so ask your motor insurer how your car policy covers it. The trailer itself can be added to our policy.
How much does speedboat insurance cost?
There is no fixed price: the underwriter rates the agreed value, outboard power and top speed, where the boat is kept and how she is secured, the cruising area, skippers, claims history and the deductible. Liability-only prices quoted online pay other people, not your boat. The free quote shows the price for your speedboat.
Does the policy pay if the outboard breaks down?
Accidental damage is paid: fire, collision, grounding or sudden water ingress. A part that fails from wear, lack of servicing or a defect is not; extended machinery cover for breakdowns is available on request, and the optional towing cover pays a tow, delivery of fuel or parts (not their cost), or emergency labour away from a safe harbour, up to its limit.
Can I tow water-skiers or an inflatable ring?
Tell us when you ask for a quote. The person being towed is not covered, from leaving the boat until back on board. If the water-skiing endorsement is on your Schedule, third-party cover while towing is limited to USD 25,000 for injury, USD 25,000 for property and USD 50,000 per incident, which is below the Greek minimum.
I only need the compulsory cover. Can I buy liability only?
Yes. The policy can carry the third-party liability section alone, at or above the Greek minimum: boat third-party insurance.
I live abroad or my boat has a foreign flag. Can I insure her in Greece?
Yes, Greek or foreign flag, subject to the underwriter, with documents in English. Residents of Israel are accepted; boats under the Russian flag are not insured. Cover runs 12 months; if you declare a lay-up period while you are away, the boat must not be used during it, and the theft table above sets the storage conditions.
How quickly must I report a theft or damage?
Limit the damage straight away, then give written notice as soon as possible, with where and how it happened. Report a theft to the police or port authority, send the claim form with at least two repair estimates and let the underwriter inspect before repairs. A fuel spill must have become known within 72 hours and be reported in writing within 7 days. Legal action on a claim must start within 1 year of the incident.
Is it better to buy online, through a local agent or a marina broker?
Online with us you get the terms and the IPID before paying, and London Marine handles claims for the insurers on your policy. A local tied agent sells the Greek insurers it represents. A broker compares several insurers for you under a written mandate and may charge a fee.
Important information

Cover is placed in the London insurance market through London Marine Insurance Services Ltd, a Lloyd's-accredited broker, and underwritten by the insurers named in your policy Schedule. Terms, exclusions and limits are in the policy documents (IPID and policy wording) provided in English before purchase. Extended machinery (breakdown) cover is quoted separately on request.

The policy is governed by English law; disputes go to arbitration in London.

Greek law requires third-party liability insurance for speedboats of 7 m or less (Law 4926/2022, Art. 74) and for pleasure craft over 7 m (Art. 17). Keep your insurance certificate on board.

DigiCare Insurance is a licensed insurance intermediary. Legal information · How we review content

Complaints: contact us first; you can also turn to the Consumer Ombudsman (Συνήγορος του Καταναλωτή).

Reviewed by Costas Matheou, licensed insurance agent · Last updated: