Youi Boat Insurance

Getting out and about on the lakes, rivers, dams and oceans of Australia is one of the great joys of owning a boat. But whether you’re the proud owner of a small runabout or a yacht with all the bells and whistles, it’s important that you have adequate insurance cover in place for your nautical investment.

Youi is an Australian general insurance company that underwrites all its own policies. With a focus on tailoring policies to customers to make cover more affordable, Youi offers three boat insurance options to suit different budgets and cover requirements: Comprehensive, Third Party Fire & Theft and Third Party Property Only.

Compare Boat Insurance Policies Available from Youi

*Be sure to check the product disclosure statement (PDS) to help you make the right choice.

Youi Boat Insurance Cover Options

Comprehensive Watercraft Insurance

This is Youi’s highest level of boat insurance cover and it is designed to offer a total insurance package. It covers both accidental and intentional damage to your watercraft, as well as damage caused by storm, flood, fire, theft, earthquake and more. General liability and watersports liability cover are both included, as are towing and salvage, emergency accommodation and watercraft contents.

Key features

• This high-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property, or for watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property
• Cover for damage caused by storm or flood, fire, theft, attempted theft or earthquake
• Cover for accidental and intentional damage
• If you’re more than 100km from where your boat is usually kept and you are involved in an insured event that results in your boat being unsafe to use, you’ll receive up to $1,000 cover for your emergency accommodation, transport or repairs
• Cover for the cost of salvaging a watercraft wreck after an insured event and towing it to a safe place. Cover is also included for the cost of preventing further loss or damage.
• Temporary replacement watercraft for up to 14 days while trading in your current watercraft (under $75,000)
• $10,000 death and $5,000 personal injury cover if you are hurt when using the watercraft
• Up to $1,000 of cover for watercraft contents.
• Other benefits include watercraft signwriting, watercraft mooring fees and sea rescue donation

Third Party Fire & Theft

This mid-level policy provides cover when your boat causes damage to someone else’s property, plus it also includes a few handy extras. In addition to $10 million of general liability cover and $10 million of watersports liability cover, it offers protection when your boat is damaged by fire or theft. Other benefits include cover for towing and salvage, emergency accommodation, watercraft contents, personal injury and more.

• This mid-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property
• $10 million of watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property
• Cover for boat damage caused by fire, theft, attempted theft
• If you’re more than 100km from where your boat is usually kept and you are involved in an insured event that results in your boat being unsafe to use, you’ll receive up to $1,000 cover for your emergency accommodation, transport or repairs
• Cover for the cost of salvaging a watercraft wreck after an insured event and towing it to a safe place. Cover is also included for the cost of preventing further loss or damage.
• Up to $1,000 of cover for watercraft contents.
• Other benefits include personal injury and death, watercraft signwriting, watercraft mooring fees and sea rescue donation

Third Party Property Only

Youi Third Party Property Only Cover is an entry-level offering for boat owners who only want a basic level of cover. It includes $10 million of general liability cover for when your watercraft causes damage to someone else’s property, and $10 million of watersports liability cover.

• This entry-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property
• $10 million of watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property

What you won't be covered for

Youi will not pay your boat insurance claim if:

How Much Does Youi Boat Insurance Cost?

Youi Boat Insurance premiums are affected by a number of factors, including:

How much excess will I have to pay?

You’ll need to pay an excess for every claim you make on your Youi Boat Insurance policy. The amount you pay will be the combined total of the basic excess and any additional excesses shown on your policy schedule. However, if you’re involved in an insured event that is completely the fault of the third party and where liability can be established, the basic excess amount may be waived.

Additional excesses are only payable under certain circumstances, so check your Youi policy schedule for more details.

How do I make a claim with you?

Every claim you lodge with Youi must relate to a separate event; you cannot include multiple events in one claim. You’ll also need to make sure that you take all reasonable precautions to prevent loss or damage occurring to your property, including after an insured event has already occurred.

If you’re the victim of theft, make sure to report the matter to the police as soon as possible. Make sure to obtain a written copy of the incident report as you will need to provide it at claims time.

You can lodge a claim by filling out a claim form online or by phoning Youi. The insurer will need to be able to view or inspect damaged goods or property, and it’s important that you promptly supply any documents the insurer requests to process your claim, such as receipts or police reports.

Questions you might still have

• Will I be covered for sailboat racing?

  • A. Sailboat Social Racing is available as an option for an additional premium on Youi Comprehensive Boat Insurance.

• Am I covered if I’m involved in a watersports accident?

  • A. Yes. Youi offers $10 million of legal liability cover for claims arising from watersports accidents.

• Are the contents of my boat covered?

  • A. Yes, boat contents are covered against loss or damage from an insured event under Youi’s Comprehensive and Third Party Property Fire and Theft policies. Limits apply to cover, but you also have the option of upgrading your contents cover.

• How much can I insure my boat for?

  • A. With Youi Comprehensive Boat Insurance, you can nominate an insured value for the hull and tender. Depending on the type of boat you own, you can also nominate additional sums insured for outboard motors; trailers; and sails, masts, booms and rigging.

• Are repairs guaranteed by Youi?

  • A. If you choose a repairer authorised by Youi, repairs made to your boat following an insured event come with a lifetime guarantee (for as long as you own the boat).

Youi Boat Insurance offers crucial financial protection for a wide range of vessels. Compare its features and benefits with those of other boat insurance policies to find cover that suits your unique requirements.

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