The recreational boat insurance market in Greece saw an upturn in 2025, with an increase in both the number of policies and reported claims, but with a significant decline in the compensation paid out during the year. This is according to a new survey by the Hellenic Association of Insurance Companies (EAEE) on the recreational boat sector.
According to the survey data, 53,766 recreational boat insurance policies were issued in 2025, a 3.5% increase compared to 2024. Of these, 12,777 were multi-policy contracts (+1.3%), while standalone liability policies totaled 40,989, representing a 4.2% increase.
The total insured value of multi-policy contracts stood at €1.98 billion, marking a slight decline of 1.8% year-over-year. Personal recreational boats now account for more than half of the sector’s insured value (50.9%), followed by commercial crewed vessels at 37.3%.
The market remains strongly oriented toward motorboats, which account for 67.3% of all insured vessels, while sailboats make up 7.6%. Other non-motorized boats hold a significant share, at 21.7%.
On the claims front, 505 incidents were reported in 2025, an increase of 5.6% compared to the previous year. However, paid claims were limited to €1.09 million, down 59.4%, while the outstanding claims reserve increased by 12% to €3.69 million.
The average loss stood at €9,482, a 24.2% decrease compared to 2024, while the average loss frequency remained essentially stable at 3.9%.
The distribution channels also present a particularly interesting picture. Networks and non-exclusive agents continue to play a dominant role in premium production, accounting for 48.7% of the sector’s total. Insurance brokers follow with 21.6%, while direct sales account for just 3%.
Seventeen insurance companies participated in the survey, representing 97.8% of the sector’s total premium production in the Greek market.
* See the survey in the Related Materials section.