Marine Liability Insurance
Consider Moored Boat Insurance Coverage in New Zealand
Marine Liability Insurance provides essential legal protection for boat owners and operators in New Zealand. This cover addresses financial risks arising from accidental injury, property damage, and associated legal costs. Baileys Insurance delivers comprehensive public liability cover that supports individuals and businesses in managing risks on the water.
*Unfortunately, we are unable to quote for your boat if it is aged 50 years or older. We are also unable to quote if you are currently insured with Nautical Insurance, Vero Marine or if your boat is registered outside NZ.
Marine Liability: What You Need to Know
Marine public liability insurance protects you from claims made by third parties if your vessel causes injury or damage during operation. This cover is especially important for those using craft for leisure and business purposes alike.
Coverage Provided Under the Policy
Marine liability cover includes legal responsibility for any accidental bodily injury or property damage that arises from the use of your vessel. The insurance is designed to meet claims arising from accidents occurring anywhere in New Zealand during the period of insurance. Key aspects of the cover include:
Bodily Injury and Property Damage
The policy provides protection if an accident involving your boat causes injury to individuals or damage to others’ property. It covers losses that may arise from the wreck of your vessel, accidental discharge of fuel or oil products, and related environmental contamination. The cover extends to expenses incurred for rescuing injured parties or recovering damaged property.
Salvage and Wreck Removal Costs
In the event of a severe incident that results in a wreck, the policy covers costs associated with salvage operations and removal of the wreck. This ensures that you are not financially burdened by the expense of restoring order and mitigating further losses after an incident.
Legal Defence Costs
Marine insurance includes coverage for legal defence costs incurred in defending against claims. If you are faced with legal action due to an accident involving your boat, the policy assists in managing expenses up to the limits specified in your schedule. This support extends to costs related to court attendance and other associated legal expenses.
Excess and Limitations
A defined excess applies to claims, which means you are responsible for paying a portion of the claim costs. The policy specifies the excess amount, and different types of excess may apply depending on the circumstances of each claim. The maximum payout is determined by the sum insured in the policy schedule, ensuring that your liability remains within manageable limits.
Additional Benefits and Optional Extensions
Marine public liability insurance may be enhanced with optional benefits that add extra protection. These enhancements include:
- Third Party Liability Protection
Enhanced cover can be added for incidents that extend beyond basic property damage and bodily injury. This may include protection against claims for consequential loss or additional legal liabilities arising in complex incidents. - Extended Legal Defence and Expense Cover
The policy can include additional cover for legal defence costs. This extended benefit covers not only direct legal expenses but also the costs related to attending court and any reasonable expenses incurred to defend your rights. - Coverage for Associated Risks
Additional endorsements can cover specific risks, such as environmental cleanup costs if your boat is involved in an incident causing pollutant discharge. The cover also extends to costs incurred for mitigating further damage following an accident.
Exclusions and Limitations
The marine liability insurance policy excludes specific circumstances to keep premiums competitive and ensure clarity of cover. Common exclusions include:
- Intentional or Reckless Acts
Loss, damage, or legal liability resulting from actions that are deliberate, criminal, or grossly negligent are not covered. The policy does not extend cover for incidents involving alcohol or drugs affecting the controller of the vessel. - Unapproved Modifications and Use
Accidents that occur as a result of unauthorised changes to the vessel or its equipment are excluded. The policy also excludes incidents that arise when the boat is used in contravention of its designated private purpose. - Commercial Use Beyond Private Operations
While the policy covers many private uses, commercial use such as chartering or hiring out the vessel for profit is not included unless explicitly agreed upon in the policy schedule. - International Voyage Restrictions
Losses that occur beyond 200 nautical miles from New Zealand’s coastlines are not covered. This geographical limitation is set to manage risks associated with extended international operations.
Liability Insurance Claims Process and Responsibilities
When an incident occurs, prompt action is required. The policy outlines clear responsibilities to ensure a smooth claims process:
Notification and Documentation
You must inform your broker or insurer as soon as possible after an accident. Providing accurate details, photographs, and supporting documentation is essential for the claim process. This includes evidence of the damage, repair estimates, and any communication with third parties.
Cooperation with Assessors and Investigators
Full cooperation with surveyors, legal representatives, and other appointed professionals is required. Compliance with the duty of disclosure ensures that all material facts are communicated, thereby preventing any delays or disputes during the claims process.
Payment of Excess and Contribution to Costs
In claims that do not result in a total loss, you may be required to contribute towards the cost of improvements made during repairs. The excess is deducted from the claim payout in accordance with the terms detailed in the policy schedule.
Adherence to Policy Conditions
Maintaining the conditions outlined in the policy, such as proper care and maintenance of your vessel, is essential. Failure to adhere to these responsibilities may result in a reduction or refusal of claim payment.
Policy Conditions and Ongoing Partnership
The terms and conditions of the marine liability policy are integral to the cover provided. They ensure that both the insurer and the insured maintain a clear understanding of responsibilities throughout the policy period. Key points include:
Duty of Disclosure
You must disclose all relevant information regarding the vessel and its operations to ensure accurate underwriting. This duty applies at the inception of the policy and at each renewal.
Maintenance and Security
Keeping your vessel in a seaworthy condition and securing it appropriately is fundamental. The policy requires that you follow all recommended maintenance schedules and security protocols to avoid preventable losses.
Cancellation and Amendments
The policy provides clear guidelines on how it can be cancelled or amended. This flexibility allows adjustments as your needs evolve, ensuring that your coverage remains appropriate for your current situation.
Advantages of Choosing Baileys Insurance
Baileys Insurance delivers industry-leading expertise in marine public liability. Key advantages include:
Local Expertise with Global Standards
Our team possesses in-depth knowledge of New Zealand’s marine environment and regulatory requirements. We work with a network of A-rated insurers to deliver comprehensive cover that meets international standards.
Independent and Unbiased Advice
As an independent broker, Baileys Insurance offers recommendations that align with your objectives and risk profile. Our solutions are designed to deliver balanced cover at competitive rates.
Streamlined Claims Management
Our in-house claims team is dedicated to processing claims efficiently. We aim to settle straightforward claims rapidly while ensuring that more complex claims receive the attention and expert advice required.
Ongoing Partnership and Support
Our relationship with clients extends beyond policy issuance. We offer continuous support through policy reviews and adjustments, ensuring your cover remains current as your operational needs evolve.
Tailored Solutions for Every Client
The flexibility of our marine public liability cover allows us to tailor policies for private and commercial crafts. This customised approach ensures that every client receives a policy that addresses their specific risks and requirements.
Contact us Today For Commercial Marine Insurance
Marine liability insurance is a critical component for safeguarding against legal and financial exposure on the water. Baileys Insurance provides a robust framework that protects you against claims for personal injury and property damage. With a focus on maintaining high standards and a commitment to ongoing support, our policies offer peace of mind and practical solutions for managing marine risks.
Contact Baileys Insurance today to find marine public liability coverage and enjoy the confidence that comes from protection in New Zealand’s dynamic marine conditions.
