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Marine Insurance

If you’re a boat owner, you know what it’s like….it’s a real passion.  Why else would you spend the amount of money you do for so little time actually using your boat?   Our marine insurance specialists share that passion with you.  They are enthusiastic, active boaties themselves, with considerable experience and success on the water and a love of boats.   As a consequence, we have the knowledge, desire and ability to provide you with market leading marine insurance.

Baileys have access to local markets, to ensure the right solution can be provided. From a 12 ft “tinny” around the Auckland Harbour to a multi-million dollar yacht, we can comfortably handle the insurance for most craft.

And importantly, we look at your options from a totally independent perspective.  We are not an “underwriting agency” or an “Insurance Company” who only have one policy to sell.  We pick the best option in the market for your situation from our trusted Insurers – all with an “A” or better financial strength rating.

Online Boat Insurance Get your Quote and Insure your NZ Based Boat by Clicking here
Unfortunately, under no circumstances are we able to quote for moored launches or yachts aged 30 years or older or for trailer boats aged 40 years or older. It doesn’t matter how good your boat is or if you have a survey we’re sorry but the answer will still be no. We are also unable to quote if you are currently insured with Nautical Insurance, Vero Marine Insurance or if your boat is registered anywhere outside NZ.

What people say about us

Baileys has been exceptional from start to finish. Tom made setting up the policy quick and painless, by really understanding my business and providing friendly advice I was confident I had the right covers in place. Also in regards to a recent claim, Donna provided excellent claims service and ensured I was kept up to date throughout the process. As a result the claim ran smoothly and was settled in a quick and efficient manner. Thanking you
Grant O’Donoghue Safe Drive Vehicle Testing
The process of losing the mast, and getting to the point of being ready to sail home has been a long one with many lessons learnt. Our insurance company Lumley, broker Baileys Insurance and adjuster Moyle Marine Surveyors have been nothing short of fantastic the entire time. They have been realistic and helpful at every turn, putting our best interest first. Fiji is a long, long way from New Zealand when it comes to this type of thing.
Bruce Goodchap Vessel "Squealer"
The team at Baileys have been great to deal with. Tom made the process of setting up my business insurance quick and easy and is only ever a quick phone call or email away from answering any questions I have. Having a broker that knows me and my business makes all the difference in having confidence I have the right covers in place and support when it’s needed the most.
Kind regards
Alan Sexton Itria Ltd
You've been our insurance broker since November 2000 and the personal, efficient and friendly attention we receive from you and the team at Baileys is really appreciated... Please pass on my thanks to all the staff at Baileys.
Margaret SpoonerOffice Furniture Hire

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© 2003 - 2023 Baileys Insurance Limited. All Rights Reserved.

Please click ‘Read and Accepted’ button below to begin your quote.

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Disclosure Statement - New Zealand Based Vessels

Please take the time to read this Disclosure Statement as it’s an important document. Once you have done that, please click on the “Read and Accepted” button to begin your quote.

Licence status and conditions

Baileys Insurance Ltd holds a financial advice provider licence, issued by the Financial Markets Authority (FMA) to provide financial advice.  
Our Financial Markets Authority Reference Number is: CAS-75396-Y7R8M1 / NTF220538567.

Nature and scope of financial advice service

This website is an on line facility to purchase pleasure craft insurance for your recreational vessel. This does not provide quotations or advice on any other insurance product. The insurance policy here is underwritten by the marine division of Vero Insurance NZ Ltd. This facility does not provide any comparisons or quotations on any pleasure craft policies from other Insurers. The policy available here has been arranged based on our extensive experience in the marine insurance market. Key features and benefits unique to Baileys Insurance are highlighted in the full quotation provided. Once the policy is purchased, we provide expert assistance with any claims you may need to make. This on line system is set up for boat owners to obtain boat insurance. All of the policy information is available before you make your decision to purchase. If you have any questions or would like to discuss any aspect of the policy or coverage please call us on 0800 89 85 85. The on line facility is only used for new business. Your policy will be reviewed each year and a renewal offer will be sent to you prior to the policy expiring. You are free to turn down this offer. The on line facility can be cancelled at any time without any notice being given.

Fees, expenses or other amounts payable

We charge a policy fee to help cover administration costs.  The fee for trailer craft is NIL.  The fee for moored vessels is:
Up to $100,000 sum insured: $50.
Over $100,000 sum insured:  $75.
Any fee charged will be clearly shown on your invoice and is part of the total amount due.

Premium funding

Premium funding products enable you to pay the insurance premium over the term of your policy by instalments rather than as one amount. Premium funders charge interest and they take a power of attorney over your insurance policy, which means they have the ability to cancel your insurance policy if you fail to pay an instalment.  We own Baileys Premium Funding Ltd, a premium funding company.  Under certain circumstances this company may allow you to fund your premium allowing you to spread the payments over the term of your policy.  Additional charges apply, which will be clearly advised to you if we agree to you using this facility.

Commissions and incentives

Our remuneration is paid by Vero Insurance Ltd, by way of commission. The commission rate is 20% of the Company Premium shown on your invoice. We are also a member of Steadfast NZ Limited (Steadfast). Steadfast supplies technology platforms, management, marketing, professional, technical, and buying benefits and services to support us in providing our financial advice. Steadfast has arrangements with insurance companies under which Steadfast receives a professional services fee of up to 1.5% of the premium paid for each policy arranged by us with those insurers. These payments are used to operate Steadfast. We will receive a proportion of the professional services fee paid to Steadfast, being 35% of that fee. This will be paid to us by Steadfast at the end of each financial year.

We receive no other incentives or inducements.

Complaints

If you are unhappy with this financial advice service, please contact us immediately so we can put things right.

If you wish to make a complaint, you can contact us as follows: 

  • Call us on 0800 89 85 85 between the hours of 8.30 am – 5.00 pm week days 
  • Email us at: enquiries@baileysinsurance.co.nz
  • Write to us at:  P O Box 101-101 North Shore, Auckland 0745, addressing your letter to the attention of Peter McEvoy

How your Complaint will be handled

We will attempt to resolve any issue of dissatisfaction with you immediately.  We will send you an acknowledgement of your complaint within five working days of your complaint being notified to us.  This letter or email will provide you with our timeline to respond to you and the name of the person who will be managing our response.  We will investigate the circumstances and contact you to try to resolve the complaint to your satisfaction.  It is important that you provide us with all relevant information.

We will provide you with a written update within 20 working days of receiving your complaint.  If we are unable to provide a full response to you at that point, our letter will explain why we are not yet in a position to do so, and tell you when we will next contact you.  40 working days (maximum) after the receipt of your complaint we will issue a final resolution.  If we need to continue our review past this point, we will explain to you the reason for the delay and the required timeframe to provide a full response. At this point, if you feel that the delay is unsatisfactory, you can redirect your complaint to our external dispute resolution service provider detailed below. 

If we are unable to resolve your complaint

We expect that our response to you will have addressed the concerns you have raised. If you feel that your concerns have not been appropriately considered, we invite you to submit any further information for consideration.  If we are unable to resolve your complaint despite our best efforts, you can contact our external dispute resolution scheme, who provides a free and independent dispute resolution service.  The contact details for our external dispute resolution service provider are: 

Financial Services Complaints Limited
0800347257
complaints@fscl.org.nz
www.fscl.org.nz

Contact details

Baileys Insurance Limited (FSP721031) is the Financial Advice Provider.  We can be contacted as follows:
Postal: P O Box 101 101 North Shore, Auckland 0745
Telephone: 09 4448860 or freephone 0800898585
Email: enquiries@baileysinsurance.co.nz

Please click ‘Read and Accepted’ button below to begin your quote.

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