Brokers
Yacht policy terms to discuss with a broker
- Agreed value, and what evidence the insurer will accept to support it
- Survey requirements, and how long you have to complete recommendations
- Liability limits set against the marina indemnity you have actually signed
- Whether salvage and wreck removal sit inside or above the sum insured
- The insured cruising area, written to your itinerary rather than a standard zone
Broker services by value and use
| Yacht value | What a broker changes |
|---|---|
| Under $100,000 | Usually little, unless the hull is old or has been declined |
| $100,000–$250,000 | Starts to matter once survey and settlement basis are in play |
| $250,000–$500,000 | Terms become negotiable; markets narrow and access matters |
| Over $1 million | Effectively required — these markets do not quote directly |
Survey and vessel records for a broker
A current condition survey, a valuation or evidence of comparable sales, engine and rig service history, the standing-rigging age in writing, your storage arrangement by name, and the cruising area you actually intend to use. A yacht presented with all of that prices differently from the same yacht presented without it.
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.
Frequently asked questions
Do I need a broker for a yacht in Australia?
Not below the point where survey and settlement basis matter. Above roughly $250,000, or for any yacht going offshore, a broker approaching several markets at once generally produces better terms than repeated direct applications.
Can a yacht broker get me an agreed value?
They can present the case for one, supported by survey and valuation. Whether it is offered remains the insurer's decision, and it must be recorded on the certificate to mean anything.
Related guides
- Boat and Yacht Insurance Brokers Australia: Broker Types
- Sailboat Insurance Broker Australia
- High-Value Yacht Insurance Australia: Over $1 Million
- Agreed Value vs Market Value Boat Insurance
- Pre-Purchase Survey vs Insurance Survey
- Yacht Insurance for Boats Worth $250,000–$500,000