Watercraft insurance updates

The terms ‘charged with’ and ‘wilful damage’ have been added to this condition. 

During your contract period you must notify us as soon as practically possible if:  

• you or anyone covered under this policy have been charged with or convicted of any criminal act relating to fraud, theft, dishonesty, arson, wilful damage or malicious damage. 

Items which can be exchanged for cash, smartcards and phone cards are now also excluded from this definition. 

Contents also excludes: 

• cash, other negotiables or any items which can be exchanged for cash (such as vouchers, money orders or tickets), smartcards or phone cards. 

We will not pay for: 
2. repair of the caravan, trailer or annex to a better standard, specification, condition or quality than existed prior to the incident covered by your policy. 

Syndicate owners, authorised persons, and operators have been added to this condition. 

9. You, any syndicate owner or authorised person, and any person who was operating the watercraft or tender with your permission at the time of the incident that you are claiming for, must give us full co-operation and comply with all our requests in relation to your claim; 

New section explaining how we will settle your claim where we are unable to carry out repairs due to the condition of the watercraft or tender prior to the incident. This can involve you making a financial contribution to the repairs. 

The single excess benefit when claiming on more than one Youi policy for the same incident extends only to a spouse’s or defacto partner’s policy where the policyholders are not the same person or legal entity.