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Marine Insurance
Selecting the right coverage for your boat

In order to select the right marine insurance coverage for your boat, you first must understand what your needs are in a policy. Each boat has a unique story and specialised requirements based on its history and use. If you have an old antique boat your insurance needs will be much different than for a brand-new speedboat. It is important for boat owners to know their options when it comes to marine insurance so they can choose a policy that matches their lifestyle.

There are two main types of marine insurance coverage:

  • Comprehensive Coverage
  • Third-Party Coverage

Comprehensive coverage
Comprehensive coverage offers protection in case your vessel suffers accidental loss or damage. This type of policy also provides cover for death and injury to other people or property. With comprehensive insurance, your boat, trailer, and specified equipment can be covered if you are operating in the water or within a certain distance on land.

Third-party coverage
If you feel you don’t need that much protection in your policy, you can select third-party marine insurance coverage. With third-party insurance, you are protected against liability from injury or damage to a third party’s vessel or property.

Value assessment
When you decide whether you want Comprehensive or Third-Party insurance, you will also have to select between Agreed Value and Actual Value policies. With an Agreed Value package, you and an agent will decide a fair value for your property that will never be affected by depreciation. If you select the Actual Value program, when you make a claim you will receive the estimated value of the property, based upon its current condition and depreciation. So, choose the best package for your particular boat’s condition, age, and value and know which factors will affect your insurance claims.

Be wise and customise
You can customise your marine insurance plan link to apply page for more protection. There are extensions that can be added on marine insurance policies to meet additional needs. Some of these extended policies include incidentals such as towing, personal effects (mobile phones, radios, etc), marine sports and competitions.

You are the best judge in terms of what marine risks you face as a boat owner. Before you choose your marine insurance policy, sit down and take a few moments to make a list of the things you want protected in case of loss or damage To find the best coverage to meet your special needs.


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Important points to note:
(1) All information on Artog is of a general nature only and does not take into account your individual circumstances. (2) Artog does not hold an ASFL and does not give advice. All views expressed should be considered general comments that reflect the views of the operators of the Artog site only and should not be considered to be advice. (3) The Artog service provides general travel information and a price comparison only. No features or benefits have been compared and the results of this service are not a recommendation or endorsement of any particular product. (4) Artog is not an insurer, and does not act on behalf of any insurers. (5) The Artog comparison does not compare all available travel insurers. (6) In some instances, Artog may earn a referral fee/commission of up to 20% from an insurer if you purchase a policy as a result of using our service; this does not impact the price you pay. (7) Artog has used its best endeavours to ensure the accuracy of this information. (8) Not all policies are the same and insurers may provide different cover under different circumstances. As such, PLEASE CONFIRM ALL POLICY DETAILS with the insurer (including but not limited to: your information that has been submitted, policy features, benefits, coverage, terms and conditions) PRIOR TO YOUR PURCHASE!

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