When you’re out cruising, sailing, fishing or jet skiing, you’d prefer not to be thinking about boat insurance. Boaters will certainly agree that there is perhaps nothing better than being out on the water, relaxing and enjoying a carefree day on your boat – unless of course your boat becomes damaged. So, get your vessel covered prior to hitting the seas, and allow yourself to focus on boating, that’s it.

There are three main levels of cover with boat insurance,   optional cover also available if required include yacht racing risk and water skiers liability

When you look at boat insurance coverage, it may remind you of your car insurance policy, like your car policy, cover and limits vary between companies. But the main types of cover for boat insurance are liability and (physical) property damage:

Accidental Loss or Damage- This covers damage to your own boat and its trailer. For example, if you hit another boat, or the jetty and your boat is damaged, the cost of repairs would be covered.

  • Market Value – The market value of your boat and/or its parts
  • Agreed Value– You determine the amount of coverage when the policy is first written

Property Damage Liability- This covers costs relating from damage to other property from an accident you caused. This could be damage to another boat, jetty or other structure.

Bodily Injury Liability- This cover pays for expenses to an injury to others from an accident you caused. Medical bills, pain and suffering.