Insurance in Australia

[com5984]

What insurance do Australian owners on the forum recommend. We have just purchased a 50' cat and plan on circumnavigating once the world opens but in the mean time to just cruise north and enjoy FNQ. I have been told that international brokers have some restrictions on insuring Australian boats in Australian waters, but once you leave they can provide a policy for each leg of your journey.

[xbillaroo]

If you’re Australia registered you can only use Australian insurance no matter where you are in the world . The only options we have found are Pantaenius and Topsail. We use Topsail in the Mediterranean.

[RaymondR]

Originally Posted by xbillaroo

If you’re Australia registered you can only use Australian insurance no matter where you are in the world . The only options we have found are Pantaenius and Topsail. We use Topsail in the Mediterranean.

Where did that come from. It's a while since I reviewed the legislation related to Australian registration and I cannot recall ir containing one word in respect of insurance requirements.

If you want to be able to use marinas you are going to have to have insurance. Many of them used only to require third party however they are increasingly demanding comprehensive. You should also check on pollution coverage requirements as these are now a specific requirement regarding amount covered. Qld also has more stringent tequirements for vessels over 50'.

[bobbybean]

I was with Loyds for a while but they covered only australian waters upto 250 miles offshore. Be careful to read their fineprint and restrictions about hurricane season and liability.

[UFO]

Originally Posted by xbillaroo

If you’re Australia registered you can only use Australian insurance no matter where you are in the world . The only options we have found are Pantaenius and Topsail. We use Topsail in the Mediterranean.

I have heard this from another source as well.


I am currently with Club Marine whilst in Australia but they only cover as far as Indonesia, so will change when we head off.

[RaymondR]

Originally Posted by UFO

I have heard this from another source as well.


I am currently with Club Marine whilst in Australia but they only cover as far as Indonesia, so will change when we head off.

What you have probably heard is that many policies have geographical limits. For example a policy written in Australia may have a 200 nm limit which means if you run in a reef 201 nm offshore you are not covered. So if you intend overseas travel you need a policy without geographical limits.

[com5984]

Maybe I should consider registering my boat outside of Australia as I won't be spending much time here

[UFO]

Originally Posted by RaymondR

What you have probably heard is that many policies have geographical limits. For example a policy written in Australia may have a 200 nm limit which means if you run in a reef 201 nm offshore you are not covered. So if you intend overseas travel you need a policy without geographical limits.

No I understand the Geographical limits.


What I heard is:



It is to do with our good old (read between the lines) Aussie Government passing a law to restrict Australian Registered vessels from using any overseas Insurance companies. Leaving us with barely any choice for if we want to go outside of Australia.


If anyone has an appropriate government link it would be good to see

[UFO]

Originally Posted by com5984

Maybe I should consider registering my boat outside of Australia as I won't be spending much time here

I have thought about the same thing when I leave.


My only concern is if I come back are they going to try and Nail me For GST and Duty - Which as obviously already been paid once as its an Aussie registered vessel.


Tried talking to Border Control who Put me onto AMSA who put me back on to border control - No solid answer, so I gave up at the time.

[ahun]

Yes, they will try. Even without registering in another country. My friend left Australia with an Australian registered boat, and sailed around the world for 17 years, when he got back they tried to make him pay the import duty and whatnot. Reasoning was, they thought lot of new equipment was added and goods bought outside of Au. He said no. Luckily, the border patrol had a photo of his boat when it was new, so he just had to show them around the rusty hull and the deck with holes here and there and all the wear and tear. They let him go.

[UFO]

Originally Posted by ahun

Yes, they will try. Even without registering in another country. My friend left Australia with an Australian registered boat, and sailed around the world for 17 years, when he got back they tried to make him pay the import duty and whatnot. Reasoning was, they thought lot of new equipment was added and goods bought outside of Au. He said no. Luckily, the border patrol had a photo of his boat when it was new, so he just had to show them around the rusty hull and the deck with holes here and there and all the wear and tear. They let him go.

Yeah sounds about right for the money grabbing scuz buckets