Berth - Third Party Insurance with Salvage - Australia

[kiryli]

Hi everyone,

I’m an owner of a berth within a strata managed marina and I have recently been fined by the strata committee due to not having appropriate insurance.
The strata by-laws state owners must have $10M third party insurance and salvage cover. I’ve had a look at the usual insurance companies and none of them appear to cover berths.
Can anyone advise of a reputable company I can secure this type of insurance from?

TIA!

This post has been edited at the poster's request.

[chrisr]

might be able to help if you could give us some idea of which country you are in ?

cheers,

[kiryli]

Originally Posted by chrisr

might be able to help if you could give us some idea of which country you are in ?

cheers,

Yes, that would help. I’m in Australia, South Australia specifically. Thanks!

[chrisr]

try topsail (https://www.topsailinsurance.com.au/) we have been insured with them for years and they definitely cover moored boats

cheers,

[kiryli]

It seems I can’t edit the original post to include my location so I will open a new thread.

[kiryli]

Originally Posted by chrisr

try topsail (https://www.topsailinsurance.com.au/) we have been insured with them for years and they definitely cover moored boats

cheers,

Hi, thanks for your reply and recommendation.

I need TP insurance for the mooring and salvage of a boat only. No boat insurance required as my tenant will cover them own boat. I will give them a call.

Have you made a claim? If so what was the experience?

[chrisr]

made one claim a few years ago when we had a race boat. settled easily and promptly

as regards yr situation : sorry i misunderstood. never heard of anyone insuring the ground tackle on a mooring, but if you're planning to put a tenant in who will have a boat on the mooring then his public liability of his insurance will cover it. if necessary you could put in the lease that he has to list the body corporate as co-insured.

(btw are we talking about a marina berth or a mooring ? bit confused...)

[kiryli]

Originally Posted by chrisr

made one claim a few years ago when we had a race boat. settled easily and promptly

as regards yr situation : sorry i misunderstood. never heard of anyone insuring the ground tackle on a mooring, but if you're planning to put a tenant in who will have a boat on the mooring then his public liability of his insurance will cover it. if necessary you could put in the lease that he has to list the body corporate as co-insured.

(btw are we talking about a marina berth or a mooring ? bit confused...)

OK, so it seems I know very little about this boat stuff...
Yes, I mean the berth (whoops).
Great tip, i’ll speak with the strata and see if this will appease them.
Thank you so much Chris. You have helped me immensely. I hope you had a good chuckle too

[StuM]

Originally Posted by kiryli

It seems I can’t edit the original post to include my location so I will open a new thread.

Just edit your user profile to show your location

[StuM]

Originally Posted by kiryli

OK, so it seems I know very little about this boat stuff...
Yes, I mean the berth (whoops).
Great tip, i’ll speak with the strata and see if this will appease them.
Thank you so much Chris. You have helped me immensely. I hope you had a good chuckle too

It's usually the vessel in the berth that has to be insured. I've never heard of an actual berth being insured.

[kiryli]

Originally Posted by StuM

Just edit your user profile to show your location

Thanks. Will do once I find my way around this site!

[kiryli]

Originally Posted by StuM

It's usually the vessel in the berth that has to be insured. I've never heard of an actual berth being insured.

The physical berth themselves are insured for the usual matters (this is covered under the strata management fee).
I’ve had this berth for 9 years without request from the strata commttee to hold my own third party and salvage insurance. But a $188 fine is a good prompt to get myself in line with the by-laws.
Anyway, I think Chris has tipped me a solution. Thanks for your input!

[GILow]

Originally Posted by kiryli

Yes, that would help. I’m in Australia, South Australia specifically. Thanks!

Well, I’ve never had to insure the berth because I’ve only been renting one in South Australia, but Pantaenius would be worth contacting. They’ve been my third party boat insurer for many years now, though I have not had to make a claim from them so far.

[kiryli]

Originally Posted by GILow

Well, I’ve never had to insure the berth because I’ve only been renting one in South Australia, but Pantaenius would be worth contacting. They’ve been my third party boat insurer for many years now, though I have not had to make a claim from them so far.

Based on the light Chris has shed this morning, it seems if the tenant has third party and salvage then this is the insurance which should satify the strata by-law. Thanks for the insurance company tip! May I ask which marina you are in?

[GILow]

Originally Posted by kiryli

Based on the light Chris has shed this morning, it seems if the tenant has third party and salvage then this is the insurance which should satify the strata by-law. Thanks for the insurance company tip! May I ask which marina you are in?

I WAS at 35South, but I am officially cruising now so marinas are mostly a thing of the past for me.