From personal watercraft (PWCs) to mega yachts, marine and leisure craft insurance is designed to provide protection against accidents, liability issues, theft, negligence claims, damages and even vandalism. Without coverage, even a minor mishap could result in a hefty bill or even lawsuit.
That’s why it’s important to obtain insurance designed specifically for your type of watercraft, navigational areas and activities conducted on and off board.
Important coverage considerations include:
Cover for your watercraft
Coverage for accidental loss or damage, malicious damage and theft where you can choose between agreed and market value and incorporate inclusions such as salvage and emergency costs following an insured event.
Liability cover
Covers your third party liability including cover for accidental pollution and liability under a berthing agreement and optional waterskiing, wakeboarding, wake-surfing and aquaplaning cover.
Environmental Damages Protection
Protection against expenses related to pollution and/or marine environmental damage caused by a covered occurrence.
Cover for your gear
Coverage for fishing gear, diving equipment, and water ski equipment and other personal effects whilst on your boat.
Cover for parts
Some watercraft may require complex parts and repairs. Insurers can cover damaged parts and repairs required as the result of an insured event.
Cover for your tender
Incorporate cover for your cruiser’s tender, including water skiers’ liability cover for the tender.
Racing cover
Coverage extensions for social or extended yacht racing, depending on whether you are into recreational racing, including offshore racing, together with loss of entry fees.
Layup cover
Whether you need to structure coverage to take into account seasonal variations in use. If you keep your watercraft stored during winter, insurers can offer layup cover at discounted rates that still covers your vessel against storage risks like fire, theft and storm damage.
Temporary Removal and Storage
Coverage for masts, spars, sails, equipment, tenders, outbound motors, contents and more to safeguard them against physical loss or damage while in temporary storage on land, including while n transit to or from your vessel.
Medical payments
Coverage for bodily injury or loss of life while on, boarding or leaving the vessel, including medical payments, ambulance, hospital and professional nursing services, repatriation and funeral expenses.
Emergency cover
Including towing to the nearest place where necessary repairs can be made, delivery of fuel, oil, parts or loaned battery or emergency labour, while away from safe harbour.
Offshore Flagged Vessels
For offshore flagged vessels, coverage tailored to your specialised needs, such as Employers’ Liability, Longshoremen’s and Harbour Workers Compensation Act Coverage, Crew Members Medical and Emergency Travel, Rescue
