Private Boat Insurance
Your Risk Adviser is an Australian based insurance brokerage, specialising in the provision of complete insurance solutions to businesses across both the general insurance and life insurance sectors.
To assist individuals and business' to understand what insurance policies are available and the industry traps to be aware of we have complied relevant information on a number of the most common insurance classes available.
Private Boat Insurance is meant to cover -
Damage to the insured vessel and personal injury and property damage claims.
Private Boat Insurance typically covers -
The ownership and operation of private vessels whilst being used stored or transported. Private boat insurance policies will usually provide an itemized sum insured for the hull, motor, trailer and accessories.
Private Boat Insurance will also provide cover for third parties in the event the use or ownership of your vessel causes personal injury or property damage to a third party.
Considerations/Limitations to be aware of with private boat insurance:
The level of coverage offered by the various insurers differs considerably with the private boat insurance policy conditions having the greatest impact including:
" Theft Conditions:
Many insurers have strict guidelines outlining how a vessel must be stored in order to be covered for theft, including the use of approved trailer locks and not having the vessel accessible by the public.
" Speed Limitations:
Most private boat insurers have limitations on how fast a vessel may be capable of going.
" Racing Exclusion:
Most private boat insurance policies, specifically exclude racing or time trial events for powered watercraft, and limitations in regards to course length for sailing boats.
" Water Skiing Exclusion:
All private boat insurance policies exclude cover for towing activities, unless specifically noted on the policy.
Should you have any further questions in relation to this class of insurance, or wish to learn more about the various other insurance policies available, please visit our website at www.yourriskadviser.com.au or alternatively call to speak to one of our qualified insurance advisers on 1300 815 344.
Your Risk adviser is an Authorized Representative of NAS Insurance Brokers AFS License No. 233750
