tamzie28 Posted April 14, 2016 Share Posted April 14, 2016 Hi Mateys, I'm very close to buying my first boat, I'm wondering if it's worth buying insurance for a boat worth $7000?? Fyi, I may be picking up the boat sometime this week or early next week so need to get all this stuff finalised. Any suggestions greatly appreciated. Cheers, Tamzie28 Sent from my SM-N9005 using Tapatalk Link to comment Share on other sites More sharing options...
stevefish Posted April 14, 2016 Share Posted April 14, 2016 (edited) What if your cheap boat hits something expensive or worse someone? Or spills fuel. . . Next to an oyster lease. Or gets smashed in a car accident Edited April 14, 2016 by stevefish Link to comment Share on other sites More sharing options...
Danielwarson Posted April 14, 2016 Share Posted April 14, 2016 Hey mate definitely worth insurance my boats only worth $4000 but I have full insurance on it always good to no your covered and if God forbid your ever in an accident your $7000 won't be going down the drain gluck with the boat mate Sent from my GT-I9197 using Tapatalk Link to comment Share on other sites More sharing options...
big Neil Posted April 14, 2016 Share Posted April 14, 2016 Defo, you never know what can happen. Link to comment Share on other sites More sharing options...
sydney south Posted April 14, 2016 Share Posted April 14, 2016 Yes, get the insurance. I have even insured a $2,000.00 tinny. I wish you many happy years of boating, but what if for instance? - You run into and damage a $500,000.00 plus boat? - Injure a family member or friend? - Damage your own Boat. - etc. etc. etc. For the peace of mind and only a few hundred dollars. Take out insurance. Do you want to loose everything for simple accident? Thankfully I have never had to make a claim. Link to comment Share on other sites More sharing options...
seasponge Posted April 14, 2016 Share Posted April 14, 2016 Yep, as all others have said, I'd go for insurance. Just be careful to check the policy conditions as they can vary a lot. Some things to look at, is the boat cover when being towed, and what are the conditions for protecting it against theft when left at home some need a proprietary locking device (not a chain and padlock) and some wont cover if it's left out on the street. Link to comment Share on other sites More sharing options...
fragmeister Posted April 14, 2016 Share Posted April 14, 2016 They you go buddy. The verdict is in! As every body points out insurance is not just about your boat. Let us know in the post how much the insurance ends up costing you if you don't mind. Cheers Jim Link to comment Share on other sites More sharing options...
tamzie28 Posted April 15, 2016 Author Share Posted April 15, 2016 Hi Everyone, Thanks for all your expertise, I will definitely get insurance as 100% of the votes is to YES. never have I thought outside the box regarding boat insurance to cover my backside and others property. Those figures $$$ you guys thrown at me are very indeed a scary thought. Thanks everyone once again on your valuable advise. I'll let you know I get the boat and insurance. BTW.... How much am I expecting to pay? Just curious so I don't get a big shock... Lol... And can't seem find online quotes for boat... Sent from my SM-N9005 using Tapatalk Link to comment Share on other sites More sharing options...
fragmeister Posted April 15, 2016 Share Posted April 15, 2016 Not sure price wise in your case. I think my boat is about $800 bucks for full comprehensive and the boat is insured for $55k But just because your boat is only $4k it doesn't mean it will be proportionally cheaper. You can get Third Party Fire and Theft boat insurance though so try a few quotes online. Cheers Jim Link to comment Share on other sites More sharing options...
The Incredible Hull Posted April 15, 2016 Share Posted April 15, 2016 Hi Everyone, Thanks for all your expertise, I will definitely get insurance as 100% of the votes is to YES. never have I thought outside the box regarding boat insurance to cover my backside and others property. Those figures $$$ you guys thrown at me are very indeed a scary thought. Thanks everyone once again on your valuable advise. I'll let you know I get the boat and insurance. BTW.... How much am I expecting to pay? Just curious so I don't get a big shock... Lol... And can't seem find online quotes for boat... Sent from my SM-N9005 using Tapatalk Let me know how you go buddy. My boat is roughly worth the same as yours, I've owned it for about 4 years now and have not had insurance on it. I park my boat inside my house, so never really thought I needed it. Starting to get paranoid now with bad drivers on our roads. Link to comment Share on other sites More sharing options...
Camo1808 Posted April 20, 2016 Share Posted April 20, 2016 Hey mate do you tow behind it? If so try cgu insurance. They are fantastically priced however DO NOT include water skiiers liability. Also they dont offer agreed value they only offer agreed value OR market value what ever is lesser at the time of a claim but by the sound of your concern isnt primarily about your boat its abiut other peoples property. My 2006 jet ski worth 7k costs me 10 bucks a month!!! I am an insurance broker in brisbane so if you need any questions or even if you eant me to do some shopping on the market for you to not noy find a decent price but value for money as well shoot me a pm. Cheers Sent from my SM-G920I using Tapatalk Link to comment Share on other sites More sharing options...
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