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Marine & Boat Insurance

Helping you protect your valuable asset.

BoatLoans.com.au has a range of marine insurance products to assist in protecting your new purchase. We are able to source insurance for your new purchase from specialist marine insurance companies. Why use specialist insurers for marine products? When a claim arises, knowing that the insurer has dedicated marine assessors, gives you peace of mind that they understand exactly what you own!

Comprehensive Cover:

Marine Insurance provides protection for your vessel for accidental loss or damage, including cover  for death or injury to 3rd parties or their property. Our Marine Insurance Partners, being dedicated to watercraft, provide secure peace of mind for your vessel.

To enquire or obtain an easy, obligation free quote on marine insurance, just fill in the Insurance Quote Form here.

8 Tips For Insuring Your Vessel:

  1. Don’t overpower your vessel. Your builders plate will tell you what is the maximum horse-power your vessel is designed to take, increasing this, can affect your insurance.
  2. Make sure your policy covers you for the types of distances you intend to travel from shore.
  3. Ensure that your policy covers you for accidental blockage of the cooling system.
  4. Ask for the ‘lay-up’ option. If you intend not to use your vessel during certain months of the year you can reduce your premium by asking for this option. (conditions do apply)
  5. If you own a Jet Ski, does your insurance cover for towing specifically designed tubes, wake-boarding or water-skiing?
  6. Investigate if your policy extends to cover ‘water ingress’ (conditions apply)
  7. Other modifications? Certain insurers can extend cover for this some don't - make sure you're covered (conditions apply)
  8. Do you have fishing gear stored on your vessel? Make sure it is secured away from prying eyes.

Other Types of insurance

GAP Cover

In the unfortunate event that your boat is stolen or written off, GAP Cover pays out the difference between what your insurer pays out and what is left of your loan. This relatively cheap and valuable cover is also known as Security Shortfall insurance.

YIPS - Your Incidental Payment Solution

Sometimes called a cash Gap - Provides a lump sum payment in the event your Boat is written off by your comprehensive insurance company regardless of what expenses you actually Incur. Such a lump sum can go a long way in helping you replace your boat.  Similar to Total Loss Incidental Expense Benefit described below but can be for longer terms 36 to 60 months and higher amounts $3,000 to $5,000.

Total Loss Incidental Expense Benefit

You have the added protection that should the Boat be declared a Total Loss by Your Comprehensive Insurer within 6 months from start of  your loan, you will be paid a lump sum benefit of $3,000 to help with the incidental expenses you may incur when replacing your Boat.

Loan Protection / Consumer Credit Insurance

Loan Protection Cover pays your loan repayments in the event that you cannot work due to illness, injury or involuntary unemployment. It will even pay out the remaining balance up to the policy limit in the event of your death.

Extended Marine Warranties

For extra security why not consider a marine warranty safeguarding you against faults or breakdowns. An extended boat warranty covers all the major mechanical and electrical items of your craft beyond that provided by a marine dealer.

Insurance Quote Form

  • Boat Finance Affiliate with Suncorp