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Sailboat InsuranceAustralia · Independent guide

Target Market Determinations for Boat Insurance

Target Market Determinations for Boat Insurance. Compare target markets and distribution conditions and vessel use and product eligibility.

By Gabriel2 min readUpdated

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Target markets and distribution conditions

  • Who the product is designed for
  • Who may be outside the target market
  • Distribution conditions
  • Review triggers
  • Why a TMD is not a substitute for the PDS

Vessel use and product eligibility

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.

TMD and current policy documents

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.

What a TMD does not establish

A Target Market Determination helps explain the class of customer and distribution conditions the issuer designed the product for. It is not a personalised eligibility decision and does not describe the full cover. A boat can appear to fit the target market yet still be declined because of age, construction, location, claims history, navigation or use. Conversely, distribution through a specialist channel may involve additional underwriting.

Read the TMD beside the PDS, quote and certificate. Use the insurer-check guide to identify the issuer and distributor named in those documents.

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 It may be wrong, incomplete or out of date, and you should not rely on it as a substitute for the current policy documents or professional advice.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