Owning a boat is a lifestyle investment—but out on the water, things don’t always go to plan. That’s where marine insurance comes in.
Whether you're cruising on weekends, fishing at dawn, or towing the kids on a wakeboard, marine insurance helps protect your boat, your gear, your passengers—and your wallet—from unexpected events.
It can cover damage, theft, accidents, and liability costs if you harm another person or their property. Just like with car insurance, marine cover is a smart and often essential safeguard.
✅ What Does Marine Insurance Cover?
Most policies include core protection for:
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Damage to your boat, engine, trailer or equipment
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Theft, fire, vandalism or storm damage
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Liability costs if you injure someone or damage their property
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Emergency rescue, towing, or even salvage (if included)
Some policies also cover medical expenses or offer this as an optional add-on.
🧭 Agreed Value vs Market Value: Know the Difference
Your boat can be insured for either:
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Agreed Value – a fixed amount you and the insurer agree on
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Market Value – what the boat would reasonably sell for today
Agreed value often means a higher premium, but gives more certainty if you need to claim.
⚙️ Additional Cover to Consider
Not all policies are equal. Ask your insurer about extras like:
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Trailer cover – Is your trailer protected while in storage or on the road?
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Towing assistance – Help when you break down on or off the water
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Personal items – Protection for gear like fishing rods, electronics or mobile phones
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Uninsured boater protection – Cover if someone hits you and they’re not insured
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Racing cover – If you’re competing in regattas or other marine events
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Water skiing liability – If you tow skiers or inflatable devices
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Lay-up cover – Reduced premiums when your boat’s stored and not in use
🌊 Third Party Marine Insurance
Looking for basic protection? Third party insurance only covers damage you cause to someone else’s boat or property. It’s ideal if:
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Your boat isn’t worth much to replace
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You still want protection in case you’re responsible for a costly accident
🌐 Going Further Afloat? Know Your Boundaries
Planning offshore or international trips?
You may need blue water insurance for open-sea travel more than 250 nautical miles from land, or journeys that cross into international waters.
This often requires additional safety and communication equipment—and might be restricted during cyclone or storm seasons. Check with your insurer before setting course.
🏁 Competing? Check Event Cover First
If you're racing or joining a marine competition, find out:
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What the event organiser’s insurance covers, if anything
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What you’re personally responsible for (especially damage, injury, or liability)
🔍 Need Help Finding a Policy?
Compare marine insurance policies tailored to your boat and lifestyle at
👉 www.findaninsurer.com.au
Owning a boat brings freedom—but marine insurance brings confidence. Whether you're moored at the marina or heading out to open sea, make sure you’re covered from bow to stern.
