Comprehensive Boat Insurance

Marine insurance considerations

Marine insurance policies are available through many insurers directly, through mainstream general insurers, specialist marine insurance companies, marine insurance brokers and can be arrange through Jade Boat Loans in conjunction with your finance package.

Whichever way you choose to purchase your insurance, the same guidelines apply and if you are financing your boat purchase through a company such as Jade Boat Loans, a certain level of insurance may be a condition of the finance.

Get What You Pay For

As with other insurance, new players are constantly turning up on the boat insurance scene, many offering low cost, budget policies. While many of these lower cost offerings will stack up well against more expensive policies from established insurers, all boat owners are always advised to read the fine print and know what you are paying for. It may meet your budget expectations but does it truly meet all your requirements.

After all, insurance is not only coverage against financial outlay it is offering you peace of mind.

Types Of Policies

One of the first and major considerations is what type of boat you have or are considering purchasing and how you intend to enjoy your boat. Different products are available to cover all pleasurecraft categories including yacht insurance, cruiser insurance, trailer boat insurance, jetski insurance amongst others. Moreover, for those residing in Western Australia and considering their options in acquiring a vessel, exploring boat loans Perth might provide financial solutions tailored to various needs and preferences, enabling more boating enthusiasts to enjoy the water in their own craft.

Coverage can be obtained for the boat only, boat and motor in circumstances where the outboard motor is considered as separate to the boat as well as boat and trailer. Coverage can also cover certain items of equipment which you keep on the boat – fishing gear, life jackets, dive gear.

Policies can cover theft as well as damage. Read the terms and conditions and product disclosure statement to ensure you fully understand the definitions and your obligations.


One important consideration with boat insurance is where your boat is kept when not in use. If kept on a trailer, the location and circumstances – under cover or parked on the street – will likely impact the cost of the policy.

If you do have an option for storing your boat under cover but currently park it in the open, why not get a quote for both options and way up the cost of organising a secure, undercover storage against the savings on your insurance policy. You may not only save on insurance but it will minimise general wear and tear from the weather and risk of vandalism.

If you moor your boat at a marina, what coverage, if any, do you have with your marina berthing or dry storage fees? Marina operators take out comprehensive insurance so check what specifically is covered for your boat as it may save you money on your own policy

There are many more considerations in regard to your boat insurance and your Jade Boat Loans consultant can discuss these with you in regard to your specific boat and your boat financing package.
Jade Boat Loans are specialists in marine finance and can provide insurance as well, to save you time and get a great deal

Disclaimer: The information contained in this article is sourced from government and reputable sources, however, it is intended as a guide for general information.