Boat Insurance

Not all boat insurance policies are the same. The level of benefits can vary between insurers. Get in touch with Steadfast Eastern for comprehensive boat insurance Melbourne.

A quality insurance broker can assist you in identifying the best policy required to meet your needs regarding boat insurance claim and ensure that in the event of an unfortunate incident, your claim is handled in an efficient and timely manner with the maximum benefit.

Pleasure Craft, Run About & Jet Skis

Boat Insurance coverage is available to protect your vessel or watercraft against loss or damage including motors, equipment, accessories, trailer and personal effects.

You can extend your boat insurance to cover you or anyone allowed by you to control your boat against legal liability for accidental death or bodily injury, property damage or sudden accidental discharge of pollutants caused by your vessel.

The list of additional covers or claim offered by some insurers may include the following benefits:

• Personal insurance – accident / death
• Temporary disablement
• Water ingress
• Emergency land towing
• Search costs (pleasure craft)
• Emergency delivery of fuel (pleasure craft)
• Lay Up – (vessels not used in winter)
• Return to berth or home

Super Yachts Insurance

Boat Insurance or club marine insurance is available for damage to the vessel, hull, machinery, equipment on board and any items connected to the yacht such as diving gear, wind surfers and similar items.

Liability cover is provided for any accidental death or bodily injury to persons other than the insured as well as accidental loss or damage to people’s property.

Some insurers will extend to cover persons who sustain bodily injury or loss of life on boarding or leaving the yacht, as well as medical payments such as ambulance costs, hospital and nursing.

Other benefits you may want to consider include:

• Business Entertainment
• Charter
• Demonstration
• Mechanical failure
• Vessel grounding – inspection costs
• Emergency cover for towing, delivery of gas, oil and parts

Commercial Vessels

Coverage can be sought for loss or damage to the vessel, hull. machinery, equipment and accessories such as sail, masts, spars, rigging and trailer.

Your liability will automatically extend to cover or claim the skippers of the vessel against legal liability for accidental death, bodily injury or property damage.

Comprehensive Cover can be extended to cover Passenger Liability for accidental death or body injury including from food served on the vessel.

Paid crew can also be covered for death and permanent or temporary disablement.

FAQ

What is covered by marine insurance?

Marine insurance covers the losses or damage of ships, cargo, ports, and includes any other way of transporting goods between the points of origin or final destination.

What does the financial services guide explain?

A guide that provides information about the entity giving you financial general advice. It should explain the services provided, the fees charged and the way the provider will handle complaints.

How do you assess an insurance company’s financial situation or strength?

There are three key indicators that you can use to help determine whether an insurance company is financially strong and stable. Net income, combined ratio, and policyholder surplus are three financial important information.

What is third party boat insurance?

Third party boat insurance: Covers damage caused by your boat trailer to the property of others. It will also cover anything that might happen such as liability stemming from accidents, fuel spills, towing and medical expenses.

What is policy wording?

Policy wording is the terms and conditions and definitions that are written down in an insurance policy.

Does Boat Insurance Cover Theft?

For example, if your boat was stolen from a private or government dock or from off your boat while it was parked or moored, then you would be covered under your insurance policy. If your boat was stolen from a marine storage unit, then the facility owner’s insurance would normally cover the loss, but your own insurance might still offer some secondary coverage.

What does accidental damage cover?

Accidental damage insurance covers the cost of repairing or replacing an object that has been damaged or destroyed by accident.

What are the 3 types of risk in insurance?

There are generally three kinds of risks that can be covered by insurances: personal risk, property risk, liability risk.