Five Reasons to Get Boat Insurance

Five Reasons to Get Boat Insurance

Are you considering getting a boat or do you already own one? If so – is it protected financially? Brisbane is a great place to own a boat, with an abundance of marine and freshwater boating opportunities in the area.

Sometimes, however, boating is not cheap. You might have invested quite a bit of money in your pride and joy, which means that you stand to lose a lot in an accident. Fortunately, there is a safeguard: boat insurance.

Boats are an expensive investment

The boat of your dreams probably has a price tag to match, but don’t worry – it will be worth it! With boat insurance, you can splash out on your dream vessel, without worrying about losing out in the unlikely event of an accident.

The marine environment is unforgiving and if the worst does happen, you could lose your boat. Getting the right boat insurance policy will ensure that if you do, you will be covered financially.

Your home insurance policy probably does not cover your boat

As most people would be aware, your home insurance probably does not extend to your boat. This means that you might lose out, even if your boat is damaged in the backyard or on the driveway. Getting a good boat insurance policy will protect your boat, both on and off the water. This means that you can rest assured that your investment is safe at all times.

Boating accessories are expensive to replace

It can be easy to overlook the cost of marine accessories. Chances are, your boat is loaded with safety gear, fishing gear and expensive navigational equipment every time you hit the water. If you lose your boat, then you will probably lose all of these as well. The cost of your gear is not always easy to measure.

It’s more than likely that your fishing gear has been collected over years or more. This means that you face an even larger bill when it comes time to replace your gear. Don’t worry though – a good boat insurance policy will cover your boat and its contents. This will afford you that extra dimension of financial protection, for greater peace of mind.

Your boat might not be protected on the road

When it comes to boat insurance, you are probably thinking about insurance on the water and when your boat is in storage. For trailer boats however, this is not all you have to worry about. Driving your boat on the road is necessary to get out on the water.

Unfortunately, it presents a new set of circumstances in which your boat could be damaged. Road accidents are not uncommon and even a slight bingle can see your boat damaged considerably. A good boat insurance policy will ensure that you are not left out of pocket if your boat is damaged off the road. This means that you and your boat are financially protected at all times.

Some marinas require your boat to be insured

Not all boat go on trailers – some are large and require a berth at your local marina. Hiring a berth comes with conditions, however, and for some marinas boat insurance is mandatory. With so many expensive boats in close proximity to one another, the consequences of an accident are drastically increased.

Fire is probably the worst of these, as it can easily spread from boat to boat and cause untold damage. With a high concentration of fuel in each marina, the stakes are even higher. This highlights the importance of boat insurance for larger boats – especially if yours will be docked in a marina.

For more details on boat insurance and all your boating needs in Brisbane, contact the experts at Holt Marine today on (07) 3353 1928.

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