Love the wind whizzing in your hair, or is it fishing that attracts you more in Victoria? For whatever reasons you ride it, a boat or Jet Ski insurance will protect your vessel!
With access to such pristine waters, several Victorians own a boat. It is the best way to enjoy all the beautiful landscapes the city has to offer.
You may want to rush in the waters as soon as you’ve purchased the vessel, but beware! Even a slight accident can mean disaster for your boat.
Why should you take out boat insurance?
Most people are under the impression that their homeowners insurance will stretch to cover their boat too. That is not the case.
The coverage, if included, is often for very small boats which either lack an engine or have a very small one. Boats require their own insurance…
Whether out in the waters or parked at the bay, your boat or Jet Ski can suffer damage. A proper insurance will cover loss, theft, damage and injury risks to the vessel and any occupants.
How does it work?
It mainly works to protect your vessel from accidental damage, covers third party damage to boats and other vessels, and protect you and any other passengers onboard.
From costs of injuries incurred to anguish and legal fees, you may recover as much as the maximum amount payable by your policy.
Most often, your policy will only pay out if the driver is covered by the policy. Third party boat insurance is not legally required in most places but included almost in all polices.
Since the risk of accident and injuries is always there, make sure you’re covered at all times!
What does it include?
Boat insurance in Victoria is typically structured in two parts: basic coverage and additional options.
Basic coverage includes damage from fire, flood, storm, accidents, vandalism, etc. Theft and attempted theft is also covered.
A liability cover for collisions and third party property or physical damage is also often incorporated.
Damage from other boats, aqua scooters or Jet Ski is often covered in your insurance. Even if they have third party liability insurance, it may be invalid if the driver was inebriated or cover only a limited amount.
If you want additional coverage, ask for optional or specialised items that can be added to your policy.
You may opt for contents, emergency towing, 24-hour assistance, total replacement costs, wreckage removal costs, layup, replacement cost of fishing equipment and racing coverage.
If you’re ready to insure your vessel, let us find you the coverage needed. Receive a free quote today and opt for an affordable policy with 365insurance!