Cover
Comprehensive boat insurance
Comprehensive pleasure-craft policies generally combine physical damage to the insured vessel with legal-liability protection, subject to the policy grant of cover, exclusions, limits and excesses. The name alone does not tell you whether racing, cyclone exposure, offshore passages, machinery breakdown, personal effects or a tender are covered.
Third-party boat liability insurance
Third-party cover is primarily about legal liability to other people and property. It may be relevant where an owner is prepared to self-insure the hull but still wants protection against a serious liability event. Read the wording for pollution, wreck removal, marina property, legal costs and any contractual liability exclusions.
Hull and machinery insurance
Hull cover protects the insured vessel itself according to the policy terms. Machinery, rigging, sails, electronics, tenders and accessories may be included, limited or treated separately. Wear, corrosion, gradual deterioration and mechanical breakdown are common areas requiring close attention.
Boat liability and wreck-removal limits
A relatively modest boat can cause a very large third-party loss if it collides with an expensive yacht, damages marina infrastructure, sinks in a navigable channel or creates pollution and wreck-removal costs. Compare the liability limit as seriously as the hull sum insured.
Comparing boat insurance cover types
Start with comprehensive versus third-party cover, then read the hull and liability pages. After deciding which risks you want transferred to an insurer, move to the comparison section for valuation, excess, exclusions, navigation and policy-document checks.
Related guides
- Comprehensive Boat Insurance Australia
- Third Party Boat Insurance Australia
- Hull Insurance for Yachts and Boats
- Boat Liability Insurance Australia
- Boat Insurance Explained: How Marine Cover Works
- Compare Boat Insurance Australia: Cover, Costs and Providers