Keeping your boat protected is an essential part of being a boat owner in New Zealand. Trailer boat insurance is a specialised type of marine insurance that financially protects your boat when you’re transporting it over land.
What Is Trailer Boat Insurance In NZ?
This insurance is designed to protect your boat while you’re trailering it on land. Standard vehicle insurance typically doesn’t cover damage to your boat or trailer, and general marine insurance usually doesn’t cover these kinds of damages, either. This means that if you don’t have this kind of insurance for your boat, you could face serious financial issues if your boat is damaged on land.
What your marine insurance covers will depend on the policy you secure. In general, your policy could cover the following:
- Accidental Damage. There’s always a chance that an accident will occur, and accidents can result in serious damage to your boat or your trailer. Damage coverage will ensure you can drive with peace of mind.
- Theft And Vandalism. Your insurance could protect against theft of your boat, trailer or equipment stored in the boat. Remember to keep your boat securely locked.
- Weather Damage. Your boat can be damaged by the weather while it’s on the road.
- Liability. If your boat causes any damage to another person’s property or causes an injury, then liability coverage will protect you.
How much will your trailer boat insurance cost? The cost of your policy will be influenced by:
- The value of your Boat and Trailer.
- The size and speed of your boat.
- The make and model of your boat.
- Your boat’s age.
Why Is Trailer Boat Insurance Important For NZ Boat Owners?
Why should you invest in this specialised boat insurance? Staying protected is essential, regardless of whether you’re travelling over land or going across the water. This boat insurance protects another part of your life as a boat owner.
- Issues Can Happen Unexpectedly. Even if you’re the most cautious driver and boat owner in Aotearoa, accidents can still happen – and one accident can be financially devastating. Traffic accidents and collisions can damage your boat and your trailer. Proper coverage prevents costly repair fees.
- Weather Conditions Are Often Unpredictable. How many times have you been on the road, only for the weather to suddenly turn sour? Abrupt weather changes can cause damage to your boat.
- Boat Theft Can Occur. Theft can occur when your boat and trailer are unsupervised, leading to financial loss. Do your best to keep your boat protected financially and physically when you tow or store it.
- Staying Safe In The Face Of Disputes. What if your boat accidentally damages property or injures someone? If this happens, your insurance will help you out.
Remember that, on top of trailer boat insurance, you should still take steps to be a responsible and cautious boat owner and driver. Follow smart towing practices and do your best to prevent damage to your boat, trailer and property around it.
- Ensure your boat is securely attached to your trailer and that your trailer is appropriately attached to your vehicle.
- Check all of the equipment involved before you begin your journey. Double-check that your boat and trailer are attached and look for any potential issues. Keep a comprehensive checklist of components that you should inspect.
- Drive appropriately with the trailer attached. Driving with a boat in tow is much more complex than standard driving, so make sure you understand how to drive with a trailer attached.
How To Get Trailer Boat Insurance As An NZ Boat Owner
Securing your own policy is a straightforward process:
- Work With A Marine Insurance Broker. Insurance is important, so it’s best to get some professional help. Work with an insurance broker who has experience with marine insurance and trailer boat insurance. Remember to discuss important details like whether your broker earns commission from insurance providers and what happens if there’s a conflict of interest.
- Assess Your Boat’s Value And Risk Level. Work with your insurance broker to assess your boat’s value, risk level and other relevant factors. This will influence your ideal policy.
- Compare Prices And Policies. Look through different policies and insurance providers with your insurance broker to determine what would work best for you.
- Understand What Your Policy Does And Doesn’t Cover. Always look into what your potential policies cover.
- Choose Your Policy. Once you’ve worked with your marine insurance broker to assess your boat and your potential policies, you can make an informed decision about what you want.
Staying Protected As A Boat Owner In New Zealand
If you’re interested in marine insurance, trailer boat insurance or moored boat insurance, get in touch with us at Baileys Insurance. We also work with business insurance, life insurance and other kinds of coverage.
Ready to start? Call us on 09 444 8860 or reach out online.
Have peace of mind with Baileys Insurance.
