Cooling-Off and Cancelling Boat Insurance

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Cooling-off, refunds and cancellation fees

Cooling-off period stated in the PDS
Refund calculation
Minimum premium or fees where lawful
Cancellation after a claim
Insurer cancellation rights
Effect on certificate of currency

Sailing plans before cancellation

Sailing vessels often have risk features that do not appear in a simple online quote flow, including standing rigging age, sails, offshore navigation, racing, swing moorings, liveaboard use and major refits. If the quote form does not ask about something material to how the vessel will be used, raise it before purchase and keep the answer in writing.

Applicable cancellation wording

Compare the latest documents that apply to the exact policy start or renewal date. Policy wording can change while the product name stays the same.

Coordinating cancellation and replacement cover

Before cancelling, confirm the exact date and time a replacement policy begins and whether any survey, payment or document remains outstanding. A finance provider, marina or mooring authority may also require continuous evidence of insurance. Ask the existing insurer how unused premium, fees and any open claim will be treated. Keep the cancellation confirmation and the new certificate together so the sequence can be proved later.

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 It may be wrong, incomplete or out of date, and you should not rely on it as a substitute for the current policy documents or professional advice.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.