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The most common boat insurance claims and how you can avoid them

It’s the perfect time of year to be out on the water on your boat and enjoy the summer weather! However, it’s important not to forget about the risks involved with boating and other water activities.

Make sure you’re aware of them by taking a read of our most common claims below and how you can prevent them.

What could happen out there?

There are a lot of dangers out on the open water. From stormy weather, to other boats, to opportunistic thieves. Here are some of the top claims:

  • Theft from your boat
  • Fire on board
  • Accidental or malicious damage
  • Storm damage
  • Your boat has capsized
  • You’ve hit another boat

Items that can add up in costs after an event such as these include general repair costs, towing costs, collection of debris, return home costs, hull inspections, and emergency repairs costs. You could also as a result of these events suffer some food spoilage, need to change locks, and require temporary accommodation.

Avoiding risks

Of course, the best way to prevent any incident is to be prepared and plan for them. Common sense is important on the boat. Ensure you lock up the boat when you leave it moored, don’t store valuable items in plain sight, and secure it properly. Follow general boat safety regulations such as checking your operations and gear, knowing the waters and depths well, watching out for other boats and hazards on the water, and always checking the weather before heading out.

Weather is a huge risk when boating and it’s vital to ensure you radio in and out when you use the boat to alert the local coastguard where you are heading and when you’ll be back. The weather can change suddenly, and stormy or windy weather can be especially taxing. Ensure your GPS is in working order, as visibility can become very poor in the case of a storm.

What does insurance cover?

CGU Comprehensive Boat Insurance can cover you for just about anything, and it covers you for all of the above risks. If your boat is a total write-off, we’ll even replace it with a new one. And if you hit another boat and cause damage, we’ll cover that too provided you pay the excess.

You’re covered for damage to the hull, motors, equipment, sails, masts, trailer, contents and tenders. Plus, your marine accessories are covered for up to $1,000.

And if you happen to partake in a few extra activities such as water skiing and yacht racing, we can also add extra cover to your Boat Insurance for these. The policy also covers diving and fishing gear up to $1,000, with the option to increase!

You’ll be covered in Australian waters anywhere along our coastline, up to 200 nautical miles off shore.

To find out more about boat insurance contact CGU today on 13 24 81.