With the ever-increasing cost of living, some people are turning to more unusual ways to earn an extra bob; stealing alloys and metal from boats. People are unscrewing and stealing stern drives and non-ferrous deck fittings such as brass, copper and bronze from boats, and selling them as scrap.

A dramatic increase in stern drive thefts has been reported to Towergate Mardon over the past few months, leading to a direct rise in insurance claims.

Nigel Mills, managing director commented: 'What people are selling as scrap for £50, some of our policies are paying out £6,000 for. We have provided marine insurance for a wide variety of craft for over 30 years and we have never had such an influx of claims for theft of this type.'

Within the marine insurance industry there have also been reports of diesel being stolen from fuel tanks; it is understood the Inland Waterways in particular have been targeted.

Although it is not currently a condition of most marine insurance policies, Towergate Mardon strongly advises boat owners to bolt and lock stern drives and fuel caps where possible. Mills commented: 'We prefer not to add extra caveats to our policies but if the number of thefts continues to rise, we may have to consider this as a policy condition.'

To discuss your marine insurance with UK based RYA trained staff call Towergate Mardon FREE on 0800 515 629.