0404 456 550
Boat Insurance Questions and Answers

 

What is an Agreed Value boat insurance policy?

Generally if you have an Agreed Value insurance policy, the value is determined at the time of the acceptance of the valuation. Whereas a Market Value policy is determined at the time of loss.

 

Does if cost any money to obtain a Boat Valuation?

Some boat dealers may charge a fee to do this. Most Boat Insurance companies require an updated Agreed Valuation every couple of years, so that all the details are kept current. Any authorised service centre will be able to assist you obtaining this.

 

Can you increase the excess to reduce the insurance premium?

Yes, you can optimise the excess to suit your needs. Increasing the excess will reduce the premium cost.

 

Does my experience and age effect the insurance premium?

Yes it does. You should be able to receive premium discounts for age, boating experience and boating courses.

 

Can I nominate a Lay Up period and Receive a Discount?

Only Trailerable boats are eligible to receive discounts, and only if the boat is stored in a secure location, and parked 'Off street' during the lay up months. You must not move the boat from the layup address during any of the lay up months. However you can trailer the boat to a service centre, for routine servicing.

You will receive discounts for each month of Lay Up that you nominate.

 

Can I buy back a Lay Up month?

Yes you can purchase a Lay Up month back. However this must be purchased and approved before you intend to use the Boat.

 

 

PWC / Jet Ski Frequently asked Questions...

 

Is the PWC Covered while towing on Road?

Yes, policies generally include Australia Wide Transit cover whilst the PWC is being towed on is approved own trailer.

 

 

Can I nominate a Lay Up period and Receive a Discount?

Yes, you can nominate Lay Up months if you store your PWC in a secure off street location during the layup time. You must not move the Jet Ski from the layup address during any of the lay up months. However you can trailer the pwc to a service centre, for routine servicing. You will receive discounts for each month of Lay Up that you nominate.

 

Can I buy back a Lay Up month?

Yes you can purchase a Lay Up month back. However this must be purchased and approved before you intend to use the Jet Ski.

 

 

Is the PWC Covered if capsized while riding and water damages the engine?

Marine Boat Insurance offers certain Personal Watercraft Insurance that covers Breach of Hull and water ingress* Please note there is additional excess applied to any of these types of claims. Please enquire if you would like more information on this type of cover.

 

 

Jet Ski Insurance Cover

 

 

What Brands of Jet Ski / Personal Water Craft can be insured?

Any major manufacturer of personal watercraft can usually be insured. Acceptable brands are: Sea Doo, Yamaha, Polaris, Honda and Kawasaki.

 

Can you increase the excess to reduce the insurance premium?

Yes, you can optimise the excess to suit your needs. Increasing the excess will reduce the premium cost.

 

Does my experience and age effect the insurance premium?

Yes it does. You should be able to receive premium discounts for age, boating experience and boating courses.