Boat Insurance

Owning a boat is more than just a simple hobby – it’s a lifestyle and a passion that brings joy and adventure to so many New Zealanders who love the sea. But of course, any responsible boat owner will tell you that there’s more that goes into boating than sailing off into the horizon. Without boat insurance, you could be in serious trouble if anything happens to your favourite marine vessel.

Boats are investments that require careful maintenance and protection, and insurance is a way to safeguard your investment against unforeseen risks. It can give you peace of mind, helping you to fully enjoy your marine adventures without worry.

The Basics Of Boat Insurance

Marine insurance is a form of insurance coverage designed specifically for boat owners, protecting them against financial loss resulting from instances such as property damage, theft, damage to others and liability claims related to their boats. This comprehensive insurance can suit the unique needs of NZ boat owners, covering various situations and types of vessels such as trailer boats, moored boats and more. Naturally, what your insurance covers will depend on your specific policy.

There are also specialised policies for specific situations, such as moored boat insurance which protects vessels that are docked in mooring spaces and trailer boat insurance which protects trailer boats on the water and on the road.

Essentially, insurance acts as a safety net in case something happens. You never know when an accident will occur, and insurance is a proactive way to protect yourself.

Several factors affect the cost of insurance policies. These qualities can include the size, value and age of the boat itself.

To get the most out of your boat insurance, it’s best that you seek advice from insurance brokers who specialise in boat insurance – such as us at Baileys Insurance. We are professionals who work with renowned insurance companies to identify the best potential policies for our clients. For a fee, which will be clearly presented so you know what you’ll need to pay us, we can discuss your situation with you to discover a great insurance policy that suits your needs.

Because of this, we strongly recommend being as honest and transparent about your situation as possible when speaking about your circumstances. The more accurate you are, the more precise we can be when discovering a great boat insurance policy for you.

Overall, we value transparency and clear communication. For instance, if there’s ever a conflict of interest for us, we will fully disclose this information.

The Top Benefits Of Boat Insurance

Now, let’s go over how insurance can benefit you as a responsible New Zealand boat owner:

Comprehensive Coverage. Insurance policies typically provide coverage for accidental damage, theft, third-party liability and more, ensuring that owners are protected against a range of risks. This versatility makes it an ideal choice for nearly any kind of boat owner in New Zealand.

Personalised Policies. A major advantage of working with an experienced insurance broker, such as our team at Baileys Insurance, is that we can identify insurance policies that suit your specific requirements. We’ll discuss your particular boat, your needs and other important factors to understand what you’re looking for in your boat insurance policy. Then, we’ll work with reputable insurance companies to discover a policy that satisfies your requirements.

Peace Of Mind. Ultimately, insurance can give you peace of mind. There are many things that can go wrong when boating, whether that be damage that happens in the marina or collisions that occur out on the open sea, and these incidents can be expensive and stressful to deal with on your own. With an insurance policy, you can enjoy your time on the open water with confidence, knowing that your marine investment is protected against whatever the future holds.

Of course, you should still take care to prevent any accidents from occurring. Keeping up with boat maintenance and conducting yourself responsibly on the water are both additional ways to protect your investment and stay safe.

Staying Protected On The Water

Baileys Insurance is your go-to partner for boat insurance solutions in Aotearoa. We offer tailored coverage to meet the diverse needs of our clients, and we’d be glad to speak to you about your boat and your circumstances.

To learn more about insurance, we invite you to visit our website for details and answers about what we can do for you. If you’re interested in other kinds of insurance, we also have specialists who focus on business insurance, life and health insurance and more.

You can also contact our Baileys Insurance team directly to speak about what you’re looking for in a boat insurance policy. Call us on 09 444 8860 or use our contact page to reach us.

Enjoy peace of mind as you experience the peacefulness of the ocean with Baileys Insurance. 

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

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.


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:
  • 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

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

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