Aussies love getting out on the water, but even the calmest waters can get a little choppy at times. Find out if Club Marine is the right insurance company to help you through any rough seas.
Who is Club Marine?
ClubMarine is Australia's largest provider of boat insurance. The company has been in the game for over 50 years and is a well-recognised name in the market.
The company is also an active part of the boating community, supporting more than 100 yacht clubs, fishing tournaments, boat shows, regattas and volunteer marine groups.
We don't currently have this brand on our panel. But don't fret! You can head to the Club Marine website or compare a bunch of other boat insurance companies with finder.
A boat insurance policy through Club Marine could cost anywhere from $300 up to tens of thousands of dollars, depending on many different factors.
The type of boat you own, the activities you plan on using it for and even where you store it will all impact the price you'll pay for insurance.
Visit Club Marine's site to find out how much you can expect to pay for a tailored insurance policy.
What will I be covered for?
Generally speaking, Club Marine boat insurance covers three main areas: accidental loss or damage to your boat, liability to other people arising from the use of the boat, and certain types of injury that you might suffer while using your boat. Here are some of the key things you can expect from a policy, in simple terms:
Policy section
What your policy will say
What it means
Section 1: Accidental loss or damage
Accidental loss or damage to your boat
Whether it's lost in transit or damaged in the water, you'll be able to make a claim. You'll even be able to claim if your boat was damaged during a volunteer marine rescue.
Accidental loss or damage to equipment on your boat
Things like fishing rods and reels, as well as wetsuits and scuba tanks, will be included, but only if they're on your boat when they're lost or damaged.
Accidental loss or damage to personal effects
This part won't cover things like cameras or phones, but it will kick in if you drop your prescription sunglasses overboard.
Theft
If somebody steals your boat, and you didn't entrust them with it, you'll be able to make a claim.
Damage resulting from a latent defect
Your policy won't pay to fix the latent defect, but it will pay for any secondary damage caused by the defect.
Event fees
If you make a claim which prevents you from attending a fishing tournament or racing event, your policy may cover the lost costs.
Salvage and wreck removal
If you ground your boat or sink it altogether, your policy may pay out for recovery costs.
Section 2: Liability to other people
Use of your boat by other people
You or any person in control of your boat will be covered, excluding boatbuilders, repairers, yacht clubs and marine operators.
Use of another boat
You'll even be covered for using other boats, as long as the owner gave you permission and you don't have a personal interest in the vehicle.
Escape of fuel, lubricants or sewage
Unless it was deliberate or reckless, you'll be covered if sewage or fuel leaks from your boat.
Water-skiing
Cover for any death, injury or damage associated with waterskiing,as long as you've informed Club Marine and have a suitably experienced person on board.
Marina liability
Cover for any liability imposed upon you by a lease or agreement with a mooring or storage facility for your boat.
Legal costs
As long as it's not criminal in nature, your insurance will cover court costs.
Section 3: Injury to the insured
Death, loss of sight, loss of limb, loss of thumb or index finger
Your policy will pay out if you suffer a serious injury. Your family might even be able to claim for funeral expenses.
Will I have to pay an excess?
Probably, yes. You'll have a basic excess which will depend on the overall value of your insurance policy, but you'll also have secondary excesses for certain types of claims.
For example, Club Marine has an additional age excess for anyone under 25 years old. This means if your 18-year-old son takes the tinnie out on a fishing trip and accidentally grounds it, you'll have to pay two excesses: the basic excess and the secondary age excess.
Can I get a no claim bonus?
Yes! Club Marine has a no claims discount policy which works on the following ratings system:
Rating 1
Receives a 25% discount
Rating 2
Receives a 20% discount
Rating 3
Receives a 15% discount
Rating 4
Receives a 10% discount
Rating 5
Receives no discount
Each year you don't make a claim, you climb one rating. However, if you do make a claim, you drop two ratings. So if you're receiving a 25% discount on rating 1 but you crash your boat and make a claim, your next renewal would be offered with a 15% discount, on rating 3.
Will Club Marine let me lay up?
Yes, and they'll give you a decent discount too. For every month that you're not using your boat, Club Marine will knock 5% off your premium as long as it's enclosed in a garage or shed, or is behind walls, gates or fences.
You'll still be covered for fire, theft and storm damage while the boat is in storage, and if you decide you want to use your boat after all, you just have to give Club Marine a call to let them know. However, you can't add lay-up mid policy, so if you want to save some money, think about how you'll be using your boat throughout the year.
How does Club Marine manage claims?
Nobody likes to think about what could go wrong but it's important to choose an insurance company that you think will respond quickly and fairly if you ever have to make a claim.
With Club Marine, you can lodge your claim online or over the phone. The company also has a dedicated phone line which is staffed 24/7 for emergency situations.
Once you've lodged your claim, Club Marine promises to formally acknowledge it within five business days. However, the company says customers should expect to be contacted by a dedicated claims manager within 48 hours.
From there, requests will be made for supporting information, including witness reports, photographs and quote requests, in order to move the claim along.
Club Marine also pledges to provide updates at least every 20 days, so you know how your claim is progressing, and works with over 700 recommended service providers across the country.
Can I cancel my policy?
Yes, Club Marine has a 14-day cooling off period. This means you can cancel the policy within two weeks and get your premium back, as long as you haven't made a claim.
If you cancel your policy after the two-week cooling off period, Club Marine may return a pro rata proportion of your premium.
Nicola Middlemiss is a contributing writer at Finder, with a special interest in personal finance and insurance. Formerly a business and finance journalist, Nicola has written thousands of articles helping Australians better understand insurance and grow their personal wealth. She has contributed to a wide range of publications, including Domain, the Educator, Financy, Fundraising and Philanthropy, Insurance Business, MoneyMag, Mortgage Professional, Yahoo Finance, Your Investment Property, and Wealth Professional. Nicola has a Tier 1 General Insurance (General Advice) certification and a Bachelor's degree from the University of Leeds.
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