Marine Insurance Broker: Pleasure Craft and Commercial

Brokers

Pleasure craft and commercial marine brokers

	Pleasure craft	Commercial marine
Who it covers	Privately used boats and yachts	Vessels operated for reward or business
Typical products	Hull and liability in one policy	Hull and machinery, protection and indemnity, cargo
Underwriting	Largely standardised, survey-driven above an age	Individually underwritten, survey and operations driven
Where it is placed	Australian direct markets and agencies	Specialist markets, sometimes offshore
What triggers the switch	Any paid use — charter, delivery for reward, training	—

Choosing the relevant marine broker

For a privately used yacht, ask for a pleasure craft or yacht specialist. For a boat that earns anything, ask for commercial marine. A broker who works in the other market will place your risk slowly and expensively, if at all.

Take the same facts to every market

A broker can only outperform a direct quote if the vessel information is complete and consistent. The checklist covers everything an Australian marine underwriter will ask.

Open the checklist

Frequently asked questions

Is marine insurance the same as boat insurance?

Boat insurance is one part of marine insurance. The term also covers commercial hull and machinery, cargo and liability classes that have nothing to do with private boating.

Do I need a commercial policy for occasional paid charter?

Almost certainly. Paid use generally falls outside a private pleasure craft policy regardless of how occasional it is. Confirm the position in writing before accepting any payment.

General information onlyThe information on sailboatinsurance.com.au is general educational information only. It may be wrong, incomplete or out of date, and you should not rely on it as a substitute for the current policy documents or professional advice. It does not take into account your objectives, financial situation or needs and is not personal financial product advice. Insurance cover depends on the actual policy wording, Product Disclosure Statement, certificate of insurance, endorsements, exclusions, limits, sub-limits and underwriting decisions that apply to your vessel. Always read the current policy documents before buying, renewing or changing cover. For legal, financial or insurance advice about your own circumstances, consider speaking with an appropriately licensed professional.