Boat Insurance
Boat Insurance is essential if you own or operate a watercraft. Watercraft Insurance can cover you for loss or damage to the marine vessel, along with protecting you against liability should you cause property damage or bodily injury (including death) to persons on your vessel or a third party while boating.
Hull and Engine Cover
Protects against damage to your boat’s hull, motor, and permanently attached equipment from incidents such as collisions, fire, theft, vandalism, and storm damage. This coverage applies whether your vessel is on the water, in transit, or stored. Policies can be structured for agreed value or market value compensation to ensure appropriate financial protection for your specific watercraft.
Public Liability
Covers legal costs and damages if you’re held responsible for injuries to others or damage to their property whilst operating your vessel. This crucial coverage extends to incidents occurring during mooring, launching, and navigation, potentially saving you from significant out-of-pocket expenses in the event of a serious accident or legal claim against you.
Water Skiers and Towing Liability
Extends your liability protection to cover incidents involving water skiers, wakeboarders, or other persons being towed behind your boat. This specialist coverage addresses the increased risk associated with towing activities and protects you against claims for injuries sustained by the person being towed or damage they might cause to others.
Accessories Cover
Provides protection for removable boating equipment and personal effects kept onboard, such as fishing gear, electronics, navigation equipment, safety equipment, and personal belongings. This coverage ensures you’re not left out of pocket if these valuable items are damaged, lost, or stolen while on your vessel.
Trailer
Coverage for damage to your boat trailer due to accidents, theft, or vandalism during storage or transport. This protection typically includes the trailer frame, wheels, winch, and other permanently attached components, ensuring you can safely transport your vessel to and from the water without financial risk.
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Don't let the complexity of insurance get in the way of your peace of mind. Simply fill out the form and one of our expert insurance brokers will contact you to help you find the coverage you need.
What does Boat Insurance cover?
Boat insurance covers your privately used boat and provides cover within Australian waters.
Designed for boating activities, the policy can cover you for general losses such as accidental damage or loss, theft, or malicious damage. The boat insurance policy will also provide cover for:
- Collision
- Fire or explosion
- Sinking and submersion, including salvage
- Running aground
- Weather events
The liability section of the policy covers you for legal liability to third parties in the event of property damage, personal injury, or death.
What Boats can be covered under this policy?
Our boat insurance policies can cover a wide range of watercraft including pleasure boats, speedboats, sailing boats, yachts, jet skis, personal watercraft (PWCs), pontoon boats, houseboats, dinghies, fishing boats, and small commercial vessels. Coverage is available for both new and used vessels, with options tailored to suit different boat sizes, values, and usage patterns. If you have a specialised or unusual watercraft, contact us to discuss specific coverage options.
What if I use my Boat for commercial purposes?
Standard pleasure craft policies typically don’t cover boats used for commercial activities such as fishing charters, tour operations, water taxis, or boat rentals. If you use your vessel commercially, you’ll need specialised commercial marine insurance that addresses the unique risks associated with business operations. These policies often include additional liability protection, coverage for paying passengers, and protection for business income. We can arrange comprehensive commercial marine insurance tailored to your specific business activities, operational area, and vessel type.
What is typically not covered under a Boat Insurance Policy?
Most boat insurance policies exclude:
- Wear and tear, gradual deterioration, and weathering
- Manufacturing defects or design flaws
- Damage from marine life (including electrolysis)
- Damage from insects, mould, or rot
- Mechanical breakdown (unless caused by an insured event)
- Personal effects not specifically related to boating
- Operation by unlicensed or unauthorised persons
- Racing or speed testing (unless specifically covered)
- Damage occurring when the vessel is outside its specified navigational limits
- Incidents occurring while the vessel is being used illegally or under the influence of alcohol/drugs
Some of these exclusions can be covered with additional endorsements or specialised policies. We recommend reviewing your policy details carefully and discussing any concerns with us to ensure you have appropriate coverage.
When do I need to advise the insurer of a change?
Like most insurance policies, if an upcoming event or change has occurred that differs from what has been advised to the insurer, we will need to inform the insurer of these changes. Such changes can include:
- Moving your boat by a professional carrier
- Change in mooring location, including moving north above the 26th parallel
- Change in mooring type, e.g., from trailer to jetty
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Why work with Knightsbridge Insurance Group?
Knightsbridge Insurance Group is an Insurance Broking Business with over 70 years of collective insurance experience and is founded on generational values that make you feel secure, protected and cared for. As we grow and expand the Knightsbridge Family, we continue to have a deep understanding of your desire to innovate and be extraordinary — both in business and in life.
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Reach out to Kirsty today.
Kirsty is tenacious and driven in both her professional and personal pursuits. She is a go-getter, consistently inspired by the entrepreneurial spirit of Elon Musk. Outside of work, she enjoys yoga, boxing and jet skiing. She placed third in the world for karate at the age of nine, and now holds a Black Belt First dan in Karate.