Boating is a beloved hobby in New Zealand. For many boat owners, venturing out onto the waves isn’t just a pastime; it’s a lifestyle. Moored boat insurance helps keep your prized possession protected, ensuring that it’s kept safe even if something disastrous happens.
What Is Moored Boat Insurance?
This specialised boat insurance is coverage for marine vessels that are moored in marinas, docks and other storage areas. This type of insurance is specifically meant to protect against issues unique to stored, stationary boats. Even while your boat is secured and moored at a marina, there are still threats present that could damage it. Harsh weather and vandalism are just two problems that could harm your vessel.
Why Choose Moored Boat Insurance?
So, why should you invest in insurance? Some boat owners may figure that as long as they treat their boat well and drive carefully, they won’t encounter any issues. However, sometimes, disaster can strike when we least expect it. Property damage, theft and collisions can result in hefty financial obligations that you may struggle to pay.
While an insurance policy will cost money, insurance is an investment in the safety of your vessel. Boat insurance can:
- Provide You With A Financial Safety Net. Any boat owner who has worked on their boat can tell you that repairs, modifications and replacement parts can cost quite a lot of money. Damages from the weather, other boats or accidents can be seriously expensive to fix. When your boat is insured, you can get some financial help for covered damage. This will help you repair your boat so you can get back on the water without too much financial loss on your part.
- Prepare You For The Unexpected. While it may be easy to assume that your boat will never become damaged while moored as long as you choose a good marina and moor it properly, unfortunately, this isn’t always the case. Damage from natural disasters, vandalism, theft and more can be difficult to predict. New Zealand’s weather is known to be unpredictable, making it a particular concern for boat owners. With moored boat insurance, you can prepare for the unexpected.
- Give You Peace Of Mind. Ultimately, an amazing benefit of marine insurance is peace of mind. The thought of your boat becoming damaged can be stressful and upsetting. Boat insurance lets you stress less about potential damage and focus more on enjoying your boat.
What To Think About When Selecting Your Insurance Coverage
Insurance isn’t a one-size-fits-all concept. You need to find the right insurance policy for your particular situation so that it suits your boat and the potential issues you may face.
When choosing your insurance, you should:
- Work With An Insurance Broker. Perhaps the best thing you can do to improve your chances of getting a good deal is to work with a professional insurance broker. Search for an insurance broker who has experience with marine insurance, who specialises in areas that apply to you, like pleasurecraft and marine transit, and who works with major NZ insurance providers like Vero Marine Insurance Ltd and Nautilus Marine. Always research your potential insurance broker before you work with them.
- Discuss Exclusions. Your insurance policy may have exclusions or specific events, conditions or situations where your insurance will not be applicable. Always look through these with your broker so you know when you can’t make an insurance claim. Common exclusions include standard wear and tear, wilful misconduct or damage resulting from improperly secured or protected boats.
- Take Additional Steps To Protect Your Boat. It’s essential that you protect your boat in other ways, along with getting moored boat insurance. Be sure you correctly maintain your boat and handle it safely while on the water, in the marina, in storage, or in transit. You can take extra care to cover for exclusions in your insurance. For example, if your insurance policy doesn’t cover damage inflicted due to reckless usage, you should always ensure that you or anyone else handling your boat does so responsibly. Always follow your marina’s rules, and never drive your boat when intoxicated.
- Consider Additional Insurance Types. Ask your insurance broker about other kinds of insurance that may apply to you. Two other kinds of insurance that may interest you are marine insurance and trailer boat insurance. Marine insurance applies to general maritime vessel activities, and trailer boat insurance is specifically for boats that are being transported on land with a trailer.
Staying Safe On The Water, In The Marina And On The Road With Marine Insurance
If you’re interested in insuring your boat, then we at Baileys Insurance are here to help. We specialise in marine insurance, and we also have experience with business, life and health insurance.
We welcome you to contact us through our website or to call us on 0800-898585.
Baileys Insurance: Keep your prized vessel protected.
