Understand Boat Insurance – Ski Boats | Club Marine

Understand Boat Insurance – Ski Boats | Club Marine


Presenter: Hayley Wilson
Hi – I’m Hayley Wilson. I’ve been around boats my entire life and
I know Club Marine has a reputation for being transparent and fair. Knowing what you can and can’t claim is
really important, so to help explain the most important aspects of your cover, join me and
some other boating lovers and we’ll show you how to get the most out of your watercraft
and your insurance. Welcome to Club Marine! Presenter: Jamie Whincup
Hi, I’m Jamie Whincup. You probably used to see me behind the wheel
of a Supercar but I also love my wake boarding and getting out behind my ski boat.. I love my ski boat and knowing it’s protected
with Club Marine means I can enjoy the water even more. As a ski boat owner myself, it’s important
we understand our policy, so let’s start with what you ARE covered for… Club Marine covers various types of water
skiing equipment. There is a standard policy limit, so if that
isn’t enough for all your expensive gear, make sure you ask to increase it. Remember some types of equipment are only
covered when stored in a lockable part of your boat or trailer or while in use on the
boat. If they are stolen and there’s no physical
sign of break-in you may not be covered. You can extend the liability cover to include
third party liability of the water skier when using recognised and commercially manufactured
equipment. Note that this is not a personal accident
cover. You aren’t covered for injury you do to yourself
or anyone else named in the schedule. Certain types of activity are excluded, like
parasailing, paragliding, hydrofoiling, and air chairs. And don’t forget, when towing you must have
a competent observer at all times. Happy Boating. Presenter: Tony Longhurst
Hi, I’m Tony Longerhurst. I spent the first half of my life racing V8
Supercars and I’m now the CEO of The Boat Works at Coomera. Pleasure craft insurance is a bit like car
insurance – if you have an accident, or someone steals it, then you’re covered. There are three main parts to your Club Marine
Pleasure Craft Insurance: Firstly, you’re covered for accidental loss
or damage to your craft including theft and malicious damage. And remember, you can only claim for theft
if you have taken reasonable measures to prevent it, for example locking away equipment and
securing trailercraft when unattended. Cover includes your motor, hull, trailer and
gear like electronics, navigation and guidance systems, equipment and accessories. Limitations do apply to some types of items
like personal effects, sporting equipment and tools. You’re covered on the water, during repair,
and in storage. And if your boat can be trailered, you’re
covered when your boat is going to and from the water. Oh and don’t forget your policy has an excess,
and there are different levels and options available, so make sure you pick the best
option for you. The second part covers your legal liability
for damage you might do to someone else’s boat, injury you might do to someone else
and specified other liabilities arising out of the use of the boat. Remember, unlike cars, with boats there is
no compulsory 3rd party cover. That means; no insurance equals no cover,
at all. There are options from $1 million to $20 million. The third element of Club Marine’s cover
is different from car insurance. Club Marine’s boat insurance also covers
certain types of serious personal injury to an insured person themselves, up to specified
limits. However, this is not a substitute for income
protection insurance and is only to cover emergency medical treatment from a professional. Presenter: Hayley Wilson
One of the most frustrating parts about insurance is when you have a claim denied, and Club
Marine understands that. There are some common scenarios you simply
can’t claim for. General wear and tear isn’t covered. Things like bursting of your trailer tyres,
marine growth on the hull, delamination, electrolysis and corrosion. Engine seizure or overheating is also not
covered. If you have an accident, it’s probably covered. If your engine blows up because of age or
lack of maintenance, it probably isn’t. So keep up your surveys and maintenance. Club Marine will ask for an out of water survey
or condition report on vessels when they reach a certain age. You will be given 12 months’ notice before
one is required and they are valid for 5 years. You’re not covered when you aren’t taking
reasonable precautions to prevent loss or damage to your boat. Also not covered are personal effects not
being stored or used on the boat and certain types of personal effects like cameras, mobile
phones, provisions and fuel. You won’t be able to claim for improvements
or alterations to your boat during a claim – that’s something you will need to pay
for. Nor will the policy cover the costs of correcting
any faults or errors in design and construction. You may need to claim these against the manufacturer
or distributor. And legal liability cover won’t provide
cover for professional builders, repairers, skippers, marina operators and so on – they
should have their own liability insurance and when your boat is in their control they
are responsible. The policy also won’t cover amounts which
should be claims against any statutory or compulsory insurance, scheme or fund. There are also some General Exclusions that
apply to your policy. These are very important because you won’t
have any cover at all if one of these apply. However, when you think about them, I think
you’ll find them pretty reasonable. They fall into a few broad categories: The first category is instances where the
law has been broken, fraud has been committed, or actions taken are unreasonable. The second category we’ve already mentioned
– general wear and tear, lack of maintenance and gradual deterioration of your boat over
time. The third category is exclusions for usage
or activities not allowed for in standard rating and which Club Marine may need additional
information, premium or a higher excess. The final category is for losses which Club
Marine are not permitted to insure either legally or because of internal business restrictions. Here you’ll find exclusions like terrorism,
war, deliberate pollution and any liability arising from asbestos. You can find full details of all these General
Exclusions in your policy wording. Presenter: Tony Longhurst
When it comes to how much you want to insure your boat for, Club Marine offer Agreed Value
or Market Value, and that decides the way in which your claim is managed and the amount
that is paid out in the event of a total loss. Remember with Market Value, the amount paid
out may be less than what is shown on the schedule, because it represents a maximum
payout, and what you will get depends on the actual value of the boat at the time of the
loss. You can find out more about the difference
between Agreed and Market Value in the Frequently Asked Questions on Club Marine’s website. It’s your responsibility to ensure that
the value shown in your policy schedule represents the boat’s current value. You should review and change this amount each
year if you feel it is too high or too low. You should include the value of equipment,
accessories and personal effects in the value you provide Club Marine for cover of these
items. In the event of a claim, Club Marine will
pay the reasonable cost of replacing the item to the same condition as it was in before
the loss. So if you have a 10 year old motor, your claim
will cover the cost to replace it. If it is replaced with a brand new motor you
may be asked to pay the difference – this is known as a contribution. Presenter: Hayley Wilson
At the end of the day we’re all out here to have fun. We know you know boats, but hopefully now
you know about your insurance too! For all the details, read the full Club Marine
policy wording which is on their website. And If you have any questions, give Club Marine
a call. So from all of us, and Club Marine, Happy
Boating!

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