Boating is a popular passion in New Zealand. With so many gorgeous beaches, marinas and more to explore, it’s no wonder so many Kiwis own boats. While boating brings heaps of amazing memories and adventure, it also comes with responsibilities, such as finding the right trailer boat insurance policy for you.
Marine vessels are an investment, and protecting your assets is essential. Boat insurance acts as a plan B if anything goes wrong. Trailer insurance, in particular, is to protect boats during transit. Along with this kind of insurance, it’s also important to consider standard marine insurance and moored boat insurance.
What Is Trailer Boat Insurance, And Why Is It Important?
This specified insurance covers physical damage to your boat during transit. It provides protection against possible risks such as accidental collisions, weather-related incidents or theft while your boat is being transported. Having this boat insurance is essential for ensuring peace of mind, allowing you to focus on enjoying your time without worrying about unexpected repair costs.
Boats face unique challenges when being transported, as opposed to boats out on the water or in marinas. So, it’s important to consider all aspects of your boat’s safety rather than only during standard boating activities like exploring or fishing.
If you’ve never experienced damage to your boat during transit, then you might wonder why you should invest in trailer boat insurance. It’s essential to remember that just because accidents haven’t happened before doesn’t mean they’ll never happen, and protecting yourself now can save you money and stress down the track.
Why is trailer boat insurance important?
- Protecting Your Marine Vessel. There’s always some level of risk when transporting your boat, and marine insurance helps protect you from this risk in the form of a financial safety net. Repair costs can be very expensive, so getting insured now can save you money in the future.
- Compliance With NZ Marinas And Clubs. Many marinas and boating clubs in Aotearoa require proof of insurance before you are allowed in. A trailer boat insurance policy proves that you’re a proactive, responsible boat owner.
- Peace Of Mind. Aside from financial aspects and requirements from marinas and clubs, insurance gives you peace of mind. You can stress less about damages and repairs and simply enjoy your adventures on the water and on the road.
Boat insurance is a great step towards being a responsible boat owner, but make sure you also consider other factors to keep yourself, your boat and others around you safe:
- Drive Safely. Just like how you should boat safely on the water, make sure you drive safely when towing your boat. Driving with a trailered boat requires a different approach than standard driving, so you should ensure you’re driving safely and correctly when towing a boat.
- Ensure Your Tow Vehicle Is Suitable. Check the integrity of your tow vehicle. Is it suitable for your boat? Check the maximum tow weight for your vehicle before using it to tow your vessel.
- Properly Secure Your Boat. When securing your boat to the trailer, do so thoroughly and correctly to avoid any issues in transit. Secure your boat and perform an inspection to double-check for any problems.
- Keep Your Boat, Vehicle And Trailer Maintained. Routine maintenance, even if you don’t notice any active issues, can prevent problems and help you catch issues before they grow worse and more expensive to fix.
Key Considerations When Choosing Your Trailer Boat Insurance Policy
When choosing your policy with your insurance broker, you will need to consider several factors to get the coverage you need:
- Exclusions. Standard exclusions for coverage include wear and tear, improper maintenance and uninsured towing vehicles. Always look at exclusions so you know what you are and aren’t covered for.
- Cost Factors. How much will your insurance policy cost? Your boat’s size, age and value will affect your trailer boat insurance premium. Additionally, ask your insurance broker about the fees you’ll pay your insurance broker and if they get any commissions or incentives from insurance companies.
- Reputable Providers. Consider trustworthy NZ insurance providers like Vero Marine, Nautilus Marine and NZI. If there’s a specific provider that you are interested in, discuss your options with your insurance broker and whether or not that provider has suitable policies for your situation.
Securing The Right Trailer Boat Insurance For Your NZ Boating Needs
We welcome you to reach out to us at Baileys Insurance if you’re in need of marine insurance coverage. We handle financial advice on a variety of insurance products, including property damage, liability, marine transit and more. Along with handling marine insurance, trailer boat insurance and moored boat insurance, we can also assist with business insurance, life and health insurance and other insurance types.
To reach us, please call us on 0800 898585 or use our contact page.
Baileys Insurance: Stay protected and enjoy peace of mind with our financial assistance.
