Insurance in Australia for yachts under $30K

[GILow]

Originally Posted by Walaby

I'd be really interested in what you find out regards whether wreck removal is definately covered by third party insurance in Australia. I've been led to believe that it isn't. Maybe it differs depending on the insurer? Thanks

Well, this all spurred me on to have a closer look. I found the following in my renewal letter, which was what rang a bell earlier...

"Any claim against this Policy shall require the client to pay a one off deductible of $2,500.
Any claim against this Policy for Salvage or Wreck Removal shall require the client to pay a one
off deductible of AUD $2,500.00."

Now, there is no mention of this in the documentation that the marina's have requested and received in the past, so either they:

a) Know this is a standard part of the Pantaenius (and maybe RAA) insurance cover.
b) They don't need it for their purposes.
or
c)... something else I cannot think of.

Either way, from my personal perspective, it means I am more than adequately covered if something goes wrong. AU$2500 is not all that great a number in the grand scheme of things, particularly if I've just rammed and sunk somebody's brand new Bavaria.

I suppose it COULD be interpreted to mean I am up for two lots of $2500, one for the damage to the third party's boat, and one for retrieving my boat from the bottom of the marina, but if that is the case they'd need good lawyers to defend it with that wording, which is pretty ambiguous.

Actually, all things considered, I am just looking forward to being away from marinas in general.

[Walaby]

Thanks GILow - I WOULD definately read that as beig a $5000 excess in the case of wreck removal but still in the big scheme of things it's still not going to send you broke. I would venture to say that some third party policy's don't mention or cover for wreck removal at all so it's good to be aware of all the conditions and details in your particular policy. I agree it is all a can of worms and to be avoided if one can

[GILow]

Originally Posted by Walaby

Thanks GILow - I WOULD definately read that as beig a $5000 excess in the case of wreck removal...

Yes, I think that is the sensible approach.

Do let us know how it all pans out for you. I for one would like to know if there are marinas out there in Australia that will not take me with just my third party insurance, as I am about to set off soon traveling. Although I plan to avoid marinas wherever possible, it would be a right PITA to find that I could not use one when I needed it.

[Fore and Aft]

I did a quick google search and Hamilton Island and Airlie Beach both want comprehensive vessel insurance. Gladstone marina specifically mentions that you have salvage insurance.

No doubt there will be other marinas with similar rules.

Cheers

[NevilleCat]

Originally Posted by GILow

Either way, from my personal perspective, it means I am more than adequately covered if something goes wrong. AU$2500 is not all that great a number in the grand scheme of things, particularly if I've just rammed and sunk somebody's brand new Bavaria.

I suppose it COULD be interpreted to mean I am up for two lots of $2500, one for the damage to the third party's boat, and one for retrieving my boat from the bottom of the marina, but if that is the case they'd need good lawyers to defend it with that wording, which is pretty ambiguous.

Well I would say the chances of you needing salvage after hitting that Bavaria with your beast would be negligible!

[GILow]

Originally Posted by NevilleCat

Well I would say the chances of you needing salvage after hitting that Bavaria with your beast would be negligible!

[Christian B]

Have you guys tried www.compareyachtinsurance.com ?