Presenter: Hayley Wilson
Hi - I’m Hayley Wilson. I’ve been around boats my entire life and I know Club Marine has a reputation for being transparent and fair.
Knowing what you can and can’t claim is really important, so to help explain the most important aspects of your cover, join me and some other boating lovers and we’ll show you how to get the most out of your watercraft and your insurance.
Welcome to Club Marine!
On Screen Disclaimer:
All information provided in this video has been prepared by Club Marine and is factual information only. It is not intended to provide any advice, recommendation or opinion about the Club Marine Pleasurecraft Insurance product described herein. Neither Club Marine nor the presenters provide any financial product advice about this insurance or take into account a person’s objectives, financial situation or needs.
This is a summary of the policy terms, conditions and exclusions only. You should read the Product Disclosure Statement available from clubmarine.com.au to understand the cover provided before making a decision to purchase this insurance.
Presenter: Mark Richards
G’Day I’m Mark Richards, Skipper of Wild Oats XI. I’ve been a sailor for my whole life, and Wild Oats is insured by Club Marine.
In my experience, it’s much easier to keep your eyes on the wind and water if you know your yacht is protected.
So as a Sailor yourself, it’s important you understand your Club Marine policy, so let’s start with what you ARE covered for…
Sailing boats are unique so there’s a few things specific to them in your policy.
First, your masts, spars, and rigging are all covered for accidental loss or damage. This includes the booms, fittings, spinnaker poles, standing and running rigging.
Your sails are also covered for accidental damage except where this results from crew error, wind or water. This exclusion won’t apply if your boat is stranded, sunk or in a collision or suffers mast or rigging failure.
Club Marine’s cover for equipment and accessories includes a wide range of safety, sporting, sailing and recreational equipment which you may use on your boat. Remember that fishing gear, diving equipment, tools and personal effects are only covered up to a specified limit, so increase the limit if you need to. Also, some types of equipment are only covered when stored in a lockable part of your boat, or while it’s in use. If they’re stolen and there’s no sign of physical break-in you may not be covered.
Unless your boat is trailerable you will probably use a professional transporter to move it on land. If you do, remember you need to let Club Marine know because it is not automatically covered.
Finally, your policy covers Social Racing only. That means yacht racing which does not include the use of spinnakers and/or extras, and not exceeding a distance of 25 nautical miles measured by the most direct route of the course. If you plan on doing more than that, like doing the Coastal Classic to Russell, or heading to Hobart on Boxing Day, you must let Club Marine know and get confirmation of the extension to cover in writing.
Presenter: Tony Longhurst
Hi, I’m Tony Longhurst. I spent the first half of my life racing V8 Supercars and I’m now the CEO of The Boat Works at Coomera.
Pleasure craft insurance is a bit like car insurance - if you have an accident, or someone steals it, then you’re covered.
There are three main parts to your Club Marine Pleasure Craft Insurance:
Firstly, you’re covered for accidental loss or damage to your craft including theft and malicious damage. And remember, you can only claim for theft if you have taken reasonable measures to prevent it, for example locking away equipment and securing trailercraft when unattended. Cover includes your motor, hull, trailer and gear like electronics, navigation and guidance systems, equipment and accessories. Limitations do apply to some types of items like personal effects, sporting equipment and tools. You’re covered on the water, during repair, and in storage. And if your boat can be trailered, you’re covered when your boat is going to and from the water.
Oh and don’t forget your policy has an excess, and there are different levels and options available, so make sure you pick the best option for you.
The second part covers your legal liability for damage you might do to someone else’s boat, injury you might do to someone else and specified other liabilities arising out of the use of the boat. Remember, unlike cars, with boats there is no compulsory 3rd party cover. That means; no insurance equals no cover, at all. There are options from $1 million to $20 million.
The third element of Club Marine’s cover is different from car insurance. Club Marine’s boat insurance also covers certain types of serious personal injury to an insured person themselves, up to specified limits. However, this is not a substitute for income protection insurance and is only to cover emergency medical treatment from a professional.
Presenter: Hayley Wilson
One of the most frustrating parts about insurance is when you have a claim denied, and Club Marine understands that. There are some common scenarios you simply can’t claim for.
General wear and tear isn’t covered. Things like bursting of your trailer tyres, marine growth on the hull, delamination, electrolysis and corrosion. Engine seizure or overheating is also not covered. If you have an accident, it’s probably covered. If your engine blows up because of age or lack of maintenance, it probably isn’t. So keep up your surveys and maintenance. Club Marine will ask for an out of water survey or condition report on vessels when they reach a certain age. You will be given 12 months’ notice before one is required and they are valid for 5 years.
You’re not covered when you aren’t taking reasonable precautions to prevent loss or damage to your boat.
Also not covered are personal effects not being stored or used on the boat and certain types of personal effects like cameras, mobile phones, provisions and fuel.
You won’t be able to claim for improvements or alterations to your boat during a claim - that’s something you will need to pay for. Nor will the policy cover the costs of correcting any faults or errors in design and construction. You may need to claim these against the manufacturer or distributor.
And legal liability cover won’t provide cover for professional builders, repairers, skippers, marina operators and so on – they should have their own liability insurance and when your boat is in their control they are responsible.
The policy also won’t cover amounts which should be claims against any statutory or compulsory insurance, scheme or fund. There are also some General Exclusions that apply to your policy. These are very important because you won’t have any cover at all if one of these apply. However, when you think about them, I think you’ll find them pretty reasonable. They fall into a few broad categories:
The first category is instances where the law has been broken, fraud has been committed, or actions taken are unreasonable.
The second category we’ve already mentioned - general wear and tear, lack of maintenance and gradual deterioration of your boat over time.
The third category is exclusions for usage or activities not allowed for in standard rating and which Club Marine may need additional information, premium or a higher excess.
The final category is for losses which Club Marine are not permitted to insure either legally or because of internal business restrictions. Here you’ll find exclusions like terrorism, war, deliberate pollution and any liability arising from asbestos.
You can find full details of all these General Exclusions in your policy wording.
Presenter: Tony Longhurst
When it comes to how much you want to insure your boat for, Club Marine offer Agreed Value or Market Value, and that decides the way in which your claim is managed and the amount that is paid out in the event of a total loss. Remember with Market Value, the amount paid out may be less than what is shown on the schedule, because it represents a maximum payout, and what you will get depends on the actual value of the boat at the time of the loss. You can find out more about the difference between Agreed and Market Value in the Frequently Asked Questions on Club Marine’s website.
It’s your responsibility to ensure that the value shown in your policy schedule represents the boat’s current value. You should review and change this amount each year if you feel it is too high or too low. You should include the value of equipment, accessories and personal effects in the value you provide Club Marine for cover of these items.
In the event of a claim, Club Marine will pay the reasonable cost of replacing the item to the same condition as it was in before the loss. So if you have a 10 year old motor, your claim will cover the cost to replace it. If it is replaced with a brand new motor you may be asked to pay the difference - this is known as a contribution.
Presenter: Hayley Wilson
At the end of the day we’re all out here to have fun. We know you know boats, but hopefully now you know about your insurance too!
For all the details, read the full Club Marine policy wording which is on their website.
And If you have any questions, give Club Marine a call.
So from all of us, and Club Marine, Happy Boating!
On Screen Disclaimer:
Club Marine do not provide advice based on any consideration of your objectives, financial situation or needs. To decide if this product is right for you, please carefully read the Product Disclosure Statement (PDS) or Policy Wording, which is available at clubmarine.com.au. This is a summary of Club Marine’s Pleasure Craft Insurance and policy terms and this isn’t a substitute for properly reading your policy documents.
Insurance is underwritten by Allianz Australia Insurance Limited (Allianz) ABN 15 000 122 850 AFSL No. 234708 of 2 Market Street, Sydney. Club Marine Limited (Club Marine) ABN 12 007 588 347 AFSL No. 236916 is a related body corporate and issues boat insurance as agent of Allianz.