david88 Posted November 5, 2010 Share Posted November 5, 2010 Hey guys, im just after some advice on boat insurance. So i have been using a pretty run down boat for the past few years and i think its time to upgrade. I am thinking of a new 15ft aluminium boat valued at around $18,000 but i have nowhere to garage it. I have been parking my current 15ft boat on the street outside my mates place with no issues so far however if i get a new boat then i HAVE to have insurance, so i have a few questions that i think you guys might be able to help me with.. *will i be able to get full comprehensive insurance for a boat parked on a quiet street? *what anti-theft devices would they require? *will the insurance cover thefts such as someone nicking my battery or will there be an excess on things like that *around what kind of premium should i expect to pay, this is still a maybe so i am trying to think about everything first. *what insurers have you guys found to be the best? Thakns HEAPS for helping me out raiders. cheers. Regards Dave Link to comment Share on other sites More sharing options...
johnno Posted November 5, 2010 Share Posted November 5, 2010 (edited) i would think you would pay about 1000 a year for a premium from the chosen insurer.Best to give insurers a call they wll talk you through it. Every insurer has different needs for anti theft devices (contact insurer) hitch lock wheel locks etc (chains are not claassed as these devices) Every claim you will need to pay a excess which can be from 100-500 or even more. Nrma ,clubmarine,Nautilus marine Edited November 5, 2010 by johnno Link to comment Share on other sites More sharing options...
Geoff Posted November 5, 2010 Share Posted November 5, 2010 (edited) Dave Have a scoll through these 2 post , they may answer some of your questions http://www.fishraider.com.au/Invision/index.php?showtopic=51575 http://www.fishraider.com.au/Invision/index.php?showtopic=52009 In addition , a full cover that includes not only the boat but all the motor. If they can't see it then they can't see what is underneath. It's less likely it would be pinched when they do not know if the boat / motor worth steeling *will i be able to get full comprehensive insurance for a boat parked on a quiet street? *what anti-theft devices would they require? These questions would be best answered by the insurance company as different companies may have different conditions or coverage. *will the insurance cover thefts such as someone nicking my battery or will there be an excess on things like that Generally speaking , yes , but the excess which can be up to $500 , so it's not worth claiming for a $150 battery *around what kind of premium should i expect to pay, My insurance is due in the next few weeks with NRMA. Based on my policy I think for $18k you would be looking in the $400 - $500 range. Mine is agreed value not market value so clarify this when speaking with the insurance company *what insurers have you guys found to be the best? Suggest you stay with the big ones as I have generally found them better to deal with when making a claim NRMA , GIO , Club Marine & Alliance Geoff Edited November 6, 2010 by Geoff Link to comment Share on other sites More sharing options...
andrew399 Posted November 5, 2010 Share Posted November 5, 2010 I had quotes from AAMI and NRMA and GIO late last year for a 4.6m with a 50hp kept outside the front of my place and it was $400 for the year at an agreed replacement price of $8k. Things like batteries, sounders etc are only covered if they are kept in a lockable cabin, otherwise just take them inside your house after a trip. The price depends on the area you keep your boat as well. You will need a wheel lock and also a hitchlock or whatever they'r called. Link to comment Share on other sites More sharing options...
david88 Posted November 6, 2010 Author Share Posted November 6, 2010 thanks heaps for the replies guys. really helpful. Link to comment Share on other sites More sharing options...
davebrewer Posted November 6, 2010 Share Posted November 6, 2010 I pay under $500 with Club for $27000 cover on my 18' Coxcraft.Sounds like they're worth a quote. Link to comment Share on other sites More sharing options...
Geoff Posted November 6, 2010 Share Posted November 6, 2010 I pay under $500 with Club for $27000 cover on my 18' Coxcraft.Sounds like they're worth a quote. Dave That's a good price. Is it market value or agreed value. Market value tends to be less ecpensive. Also what is the excess $$ Geoff Link to comment Share on other sites More sharing options...
Guest Aussie007 Posted November 8, 2010 Share Posted November 8, 2010 i chose NRMA insurance for my tinny $240 a year for $4000 insurance Link to comment Share on other sites More sharing options...
fryboy Posted November 8, 2010 Share Posted November 8, 2010 When I insured my boat, with Suncorp, they specifically advised me the boat had to be kept OFF STREET, and be secured, either to a building or with a wheel clamp or similar. It was very clear that it should not be kept on the street. Fryboy Link to comment Share on other sites More sharing options...
johnv Posted November 8, 2010 Share Posted November 8, 2010 I've got my boat insured with GIO & they charged me $350.00 for agreed value $20.700 cheers john Link to comment Share on other sites More sharing options...
andrew399 Posted November 11, 2010 Share Posted November 11, 2010 I think the fact that im under 25 might be what pushes the price up a fair bit. I just got another few quotes and all were above 400 for an agreed value of $8k... So you may want to take that into account dave, im assuming the 88 in your name is your birthyear... Link to comment Share on other sites More sharing options...
Guest Aussie007 Posted November 11, 2010 Share Posted November 11, 2010 I think the fact that im under 25 might be what pushes the price up a fair bit. I just got another few quotes and all were above 400 for an agreed value of $8k... So you may want to take that into account dave, im assuming the 88 in your name is your birthyear... the area u store your boat in could have high theft rate Link to comment Share on other sites More sharing options...
johnv Posted November 15, 2010 Share Posted November 15, 2010 Hi all,just found out this info with your insurance for boats, (1)if boat is left on the street, (2)in front yard with no specail locks on the trailer/wheels, (3)or open yard with no fence & no locks on trailer,(4)even if your boat is left on the street with all the wheel clamps/padlocks on the tow hitch.Your insurance will be a lot dearer yearly. If you have your boat locked & clamped in your yard behind locked gates your insurance will be a lot cheaper & it also depends on the suburb that you live in aswell,they even look at the amount of claims that you have made in recent years. cheers all john Link to comment Share on other sites More sharing options...
Mercer007 Posted November 22, 2010 Share Posted November 22, 2010 Hi All, Do boat insurers cover for accidents also. I.e hit an underwater structure or another boat or jetty etc.. Just curious. Pete Link to comment Share on other sites More sharing options...
BFB Posted November 22, 2010 Share Posted November 22, 2010 I have just been going through the boat insurance run around looking for a better and cheaper policy. From what I have been able to gather all companies will only insure your boat for market value unless you have had an assessor or a written survey report carried out on it recently. They do not tell you and you think you are insured for agreed value. Look at the fine print and ask questions. I was very surprised. Unless your policy clearly states "agreed value" it will only be for market value. Now the next question, does anyone know of an assessor or someone who can do the written survey report. I live in the Macarthur area. Link to comment Share on other sites More sharing options...
Guest Aussie007 Posted November 22, 2010 Share Posted November 22, 2010 NRMA covered my boat for the amount i paid for it over the phone Link to comment Share on other sites More sharing options...
BFB Posted November 22, 2010 Share Posted November 22, 2010 I have just tried to insure my boat with NRMA and they stated that they needed a written survey report less than 12 months old before they would cover my boat for agreed value. Club Marine stated basically the same. At present I am covered by GIO but reading their paperwork it is only market value although they have a figure on the policy. Basically this figure will not mean anything if I have to make a claim. All I am stating is to be aware because although you may think that it is covered "agreed value" unless it is specifically stated on the policy it will only be for market value and that can be a big difference. Link to comment Share on other sites More sharing options...
TheAlby Posted November 23, 2010 Share Posted November 23, 2010 I have just tried to insure my boat with NRMA and they stated that they needed a written survey report less than 12 months old before they would cover my boat for agreed value. Club Marine stated basically the same. At present I am covered by GIO but reading their paperwork it is only market value although they have a figure on the policy. Basically this figure will not mean anything if I have to make a claim. All I am stating is to be aware because although you may think that it is covered "agreed value" unless it is specifically stated on the policy it will only be for market value and that can be a big difference. yep, i just went through the same thing with club. they only insure for market value upto the amount you state. i requested a qoute from them and they asked me the 'type of boat' ,'suburb and value'? and then they popped out a figure and i asked them 'what about where the boat is stored ie behind locked gates off the street, locking devices and my age'???? apprently this made no difference to the qoute which was were the conversation ended. i am very suspect of club... Link to comment Share on other sites More sharing options...
myocard Posted November 23, 2010 Share Posted November 23, 2010 I have no boat insurance. I have a boat that is over 20 years old and the quotes I received were too expensive to justify. But this means I also have no third party insurance. Does anyone know if 3rd party property damage insurance is available for boats? My boat might not be worth much, but if I am liable for damage to other property or people then the sky is the limit. Is marine insurance different than say car insurance in this regard? Do the same rules apply? How many tinnies / tenders etc are out there with no insurance whatsoever? Link to comment Share on other sites More sharing options...
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