Boat Insurance for Yachts
And we'll locate your next boat
Another reason Boatlocator is the smart way to buy your next yacht is we help you arrange finance and insurance for your yacht as part of our service, saving your time and helping your purchase transact smoothly. We are agents for both Nautilus and Club Marine, who insure most of our pleasure and charter yachts, and will do the leg work for you to arrange quotes, surveys and forward vessel details to the insurer of your choice.
Club Marine and Nautilus offer cover for your vessel against accidental loss or damage, as well as third party cover. To decide which policy is right for you, always read the product disclosure statements which explain what is and isn't covered. Then to insure your yacht, whether you've bought it from us or not, call us on 1300 309 567 and we'll give you a quote with instructions on how to make your application to your chosen insurer.
A Few Common Issues Yachts over 20 or 25 years of age, depending on the insurer, will require an out of water survey to ensure they are in sound condition. You may also need a survey if your yacht is not a stock production model (custom built), is a multi-hull, or is constructed of a material other than fibreglass or aluminium, among other reasons. If you are required to provide a survey, you will need to engage a surveyor to inspect the hull, steering, engine, tanks and electrical wiring, safety gear and navigational equipment to give the insurer an indication of overall condition and seaworthiness.
The rigging on a yacht represents a substantial proportion of the owner's investment and must be in sound condition as the failure of a fifty dollar part can do thousands of dollars worth of damage to a yacht. Many components in a rig have recommended life times of between 8 and 10 years, so as a rig approaches that age your insurer may require a rig inspection before covering your yacht.
Owners of penned and moored craft on the north coast of Australia, North-West WA and North QLD will normally need to make arrangements to move the vessel to a safe harbour and secure it appropriately in the event of a cyclone.
If you require cover for Blue Water cruising or racing, an insurer may be able to extend your policy to cover it, providing you and your boat meet their certain guidelines. They include things such as the age, construction, the type of mast and rigging your yacht has, and your own personal experience.
