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Boat Insurance

Coverage for your boat and liabilities on the water.

Boat insurance provides cover for your watercraft – whether it's a yacht, speedboat, jet ski, or small runabout. It typically covers accidental damage to your boat (for example, from collisions, grounding, storms), theft of the boat or equipment, and liability for damage or injury you might cause to others while using your boat. Policies can also cover damage while the boat is in transit on a trailer or in storage. If you own a boat in Australia, especially an expensive one or if you moor it at a marina (which often require insurance), boat insurance protects you against costly incidents on and off the water.

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Key Benefits

Why choose this insurance coverage

Accidental Damage Cover

Covers repair or replacement costs if your boat is damaged in an accident – for example, hitting a submerged object or another vessel – ensuring you're not paying huge repair bills out of pocket.

Theft and Vandalism Protection

Provides coverage if your boat (or outboard motor, equipment, etc.) is stolen or maliciously damaged. This means you can recover financially if someone steals your vessel or its parts, whether it's at home, in storage, or at the marina.

Liability Coverage on Water

Covers legal liability if you accidentally damage someone else's property or injure someone with your boat. For instance, if you collide with another boat or cause an accident, this coverage handles the costs of damage or medical claims against you.

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Frequently Asked Questions

Common questions about boat insurance

Unlike car insurance, boat insurance isn't compulsory by law in most places. However, if you keep your boat at a marina or club, they often require at least a basic liability insurance. Regardless, having insurance is very wise to protect your investment and cover liability if an accident happens.
Most types of watercraft can be insured – including yachts, sailing boats, motorboats, fishing boats, jet skis, and even kayaks or canoes in some cases. Insurers might have different policies for different boat types (for example, a jet ski policy vs. a sailboat policy), but generally you can find cover for a wide range of vessels.
Insurance often covers the boat for damage or theft even while it's on the trailer (for example, if you have an accident while towing or if the boat is stolen off the trailer). However, the liability while towing (if your trailer causes an accident on the road) is usually covered by your car's CTP or car insurance, not the boat policy. Always check specifics with your insurer.
Policies vary, but many boat insurance policies will cover anyone driving your boat with your permission, as long as they are appropriately licensed and not excluded (for example, some policies exclude underage operators or those with poor driving records). It's best to check your policy to see if there are any restrictions on operators.

Boat Insurance

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