Boat Insurance Glossary – L

Laid up
A period of time agreed with the boat insurance company when the vessel will be laid up ashore. This is usually over winter period due to the greater potential for damage from adverse weather conditions. Some boat insurance policies (e.g. speedboat insurance, RIB insurance) contain a specific clause within their boat insurance policy stating any specific storage requirements/ periods. The vessel is still insured during this period as long as the policy conditions are met.
A lanyard is the lashing on the end of a shroud which keeps the holding gear in position.
Latent Defect
This is a defect in equipment or materials that is found to have been present at the time of construction. These faults are often hard to discover through a standard boating survey.
Lee-boards sit either side of the hull and help to minimise or even prevent sideways movement of a vessel through water when sailing in more challenging weather/ tidal conditions.
Leeward is simply the direction to which the wind is blowing. The side of a vessel that is leeward is known as its lee side. Further if the vessel is tilting under a leeward wind, this is known as the lower side.
Liability Limit
For claims made against you by guests or third parties, Insurers will indemnify (protect) you up to your Liability Limit amount detailed in your boat insurance policy.
Liable party
The liable party is the person(s) who are adjudged to be ultimately legally responsible. Boat liability insurance is the provision of policy cover for damage to possessions or persons.
A piece of boat safety equipment that is thrown to an individual who has gone overboard. The device is often fitted with light and whistle, but being air filled it’s primary purpose is as a basic buoyancy aid for the person to hold on to intended to reduce the risk of drowning.
A buoyancy aid garment that will keep a person’s head above water whilst afloat. Strongly recommended by all good boat insurance companies!
Permanent loss or damage to a vessel (for which a boat insurance policy compensates against).
Loss Payee
The person or organisation that is in receipt of the financial settlement of any successfully completed boat insurance claim.
The luff is simply the foremost edge of a sail (i.e. that which is next to the sat or mast).
Luffing up
Luffing up is when you’re bringing the bow of the vessel close to the wind so that the leech of your sail(s) begin to flap.
A lug if a 4-edged sail that is positioned both ahead of and aft of a vessel’s mast.