AWARD WINNING INSURANCEFinder Insurer of the Year 2022
Whether you love fishing trips, family outings or fun-filled watersports, every boat owner makes their own waves. We respect that – it’s why we don’t do one-size-fits-all boat insurance. Get in touch for cover that’s a bit more you-shaped.
What does the best boat insurance mean for you? It may be what suits your budget, your lifestyle or the optional extras you were chasing. See if Youi’s boat insurance could be the right fit for you, so you can get back to enjoying life on the water.
At Youi, we offer three levels of cover for watercraft owners. Explore our range of policies to see what is – and isn’t – included, so you can choose the best boat insurance for your situation.
For more details on our boat insurance policies, see the Product Disclosure Statement. You can also start an online boat insurance quote to get more detailed information about boat insurance costs specific to your circumstances.
At Youi, we know that every boat owner is charting their own course, and we think your boat insurance should reflect that. Give us a call today or start a quote online.
At Youi, we’re all about making boat insurance easy to understand. Here’s a snapshot of what’s covered – and what’s not – by our Comprehensive, Third Party Fire & Theft and Third Party Property Only watercraft policies. To get the full picture, check out the PDS.
Accidental or intentional damage1
Damage from fire6,3
Hail, storm or flood damage1,6
Theft3
Towing, salvage and storage2
Watercraft contents3
Damage to other people’s property8
Third party injury or death8
*Cover for social sailboat racing available as an optional cover, if the watercraft is a sailboat.10
Damage from fire6,3
Theft3
Towing, salvage and storage2
Watercraft contents3
Damage to other people’s property8
Third party injury or death8
Accidental or intentional damage1
Hail, storm or flood damage1,6
Damage or legal liability caused by the sailboat being used for racing10
If you’d like additional cover, we’ve got some options for you. These can be added to your boat insurance policy for that extra reassurance out on the water. They may not be available in all circumstances, but please ask us – we’re here to help. Please note that if we agree to add the option, your premium amount will increase.
You have the option to add this to Youi’s Comprehensive boat insurance policy. It covers your sailboat for loss or damage caused by an insured event while it’s being used in a social sailboat race.10
If you have a Comprehensive or Third Party Fire & Theft boat insurance policy, you can choose to level up your watercraft contents cover. If you select this optional cover, the most we’ll pay for each claim is the insured value that’s noted on your policy schedule, up to $1,000 per item.4
First up, we’ll need your contact details. We’ll also need to know if you have a personal watercraft licence.
Whether you’re after boat insurance, jet ski insurance or cover for a catamaran, we’ll need to know the details of your watercraft to make sure your policy and premium are accurate.
Will you be using your watercraft recreationally, for watersports or only in inland water ways? Let us know, as this can affect your boat insurance cover and premium.
It’s important to let us know where your watercraft will be stored when you’re not using it, as this could also affect your boat insurance premium.
First up, we’ll need your contact details. We’ll also need to know if you have a personal watercraft licence.
Whether you’re after boat insurance, jet ski insurance or cover for a catamaran, we’ll need to know the details of your watercraft to make sure your policy and premium are accurate.
Will you be using your watercraft recreationally, for watersports or only in inland water ways? Let us know, as this can affect your boat insurance cover and premium.
It’s important to let us know where your watercraft will be stored when you’re not using it, as this could also affect your boat insurance premium.
Click on your state or territory to learn about the type of boat insurance we offer where you live.
The first thing you might need to do is register your watercraft with Service NSW. For more information on how to do this, you can call Service NSW on 13 12 36. If your boat does need to be registered to be out on the water, you’ll need to renew its registration every 12 months.11
In NSW, it’s not compulsory to have insurance to register a vessel, but it’s recommended by Transport NSW so you’re covered in case something unexpected happens.11 Youi offers three levels of boat insurance cover in NSW: To find a level that could be suitable for your needs, consider starting a boat insurance quote.
Watercrafts with an engine of 3kW or more must be registered to be on the water in Queensland – and this includes personal watercraft, such as jet skis. You can do this by going to a Transport and Motoring Service Centre near you, or if you live in a rural area, you can visit a Queensland Government Agent Program (QGAP) office, Magistrates Court or local police station that provides registration services.12
If you choose to take out boat insurance, it’ll help keep you covered in case something unexpected happens. In Queensland, Youi offers three levels of boat insurance cover: Comprehensive, Third Party Fire & Theft and Third Party Property Only. To find out which level might be right for you, consider starting a boat insurance quote.
All powered vessels must be registered with VicRoads to be out on the water in Victoria. Registrations must be renewed every 12 months. You can find information about how to do this online through myVicRoads, or by calling 13 11 71.13
Watercraft registration doesn’t include insurance cover, so Safe Transport Victoria recommends boat owners consider taking out cover with a boat insurance provider.14 Youi offers three levels of boat insurance in Vic: Comprehensive, Third Party Fire & Theft and Third Party Property Only. To find out which level might be right for you, consider starting a boat insurance quote.
Any powered vessel is legally required to be registered for use in WA’s navigable waters, including those berthed at jetties, on moorings or in pens. Registrations last for 12 months.15
In case something unexpected happens, you might also like to consider taking out some form of boat insurance. In WA, Youi offers Comprehensive, Third Party Fire & Theft and Third Party Property Only boat insurance for boats, jet skis and personal watercraft. To find out which cover might be right for you, consider starting a boat insurance quote.
When you buy an engine-powered watercraft in SA, you’re legally required to register it in your name within 14 days. For it to be successfully registered, it must meet compliance standards, which require the registration numbers to be displayed correctly and the registration label to be correctly affixed.16 Other compliance standards include the Australian Builders Plate be fitted correctly (required for most recreational boats), a boat code is required (compulsory for first time registration or change of ownership), and operational navigational lights fitted if you operate your boat at night.16 Registrations last for six or 12 months depending on your vessel and chosen timeframe.17
Boat insurance isn’t compulsory in SA, but the South Australian Government strongly recommends taking out some level of cover.18 Youi offers Comprehensive, Third Party Fire & Theft and Third Party Property Only boat insurance. To find out which level might be right for you, consider starting a boat insurance quote.
Powered watercraft must be registered to be out and about on the water in the ACT. However, the ACT Government doesn’t have a boat registration scheme, so you’ll need to register your watercraft in another state or territory.19
To help keep your boat covered while you’re enjoying a day out on one of the ACT’s lakes, Youi offers Comprehensive, Third Party Fire & Theft and Third Party Property Only boat insurance. Not sure which level of cover might suit you best? Consider starting a boat insurance quote to explore your options.
In Tasmania, boats and other watercraft with a motor of 4hp or more must be registered. You can apply for registration through Service Tasmania or (MAST) Marine and Safety Tasmania.20
Youi offers three levels of boat insurance in Tasmania: Comprehensive, Third Party Fire & Theft and Third Party Property Only. To find a level of cover that might be right for you, consider starting a boat insurance quote.
Before heading out in the boat, our adventurers need to make sure they’ve packed the essentials. Follow along to see if their preparation pays off.
Have questions about insurance for your watercraft? You’re in the right place.
If you have Comprehensive or Third Party Fire & Theft boat insurance with Youi, you nominate an insured value for each component of your vessel which, depending on the type of watercraft, may include:
The insured value for the watercraft as a whole will be the total of all the components. If you need to make a claim, the most we’ll cover for any component is the lower of its market value or the insured value listed on your policy schedule. The only exception is when your claim qualifies for New Watercraft Replacement, where different limits apply.5
You don’t need to select an insured value for the tender – it will be covered for its market value, up to a maximum of $3,000. For more information about how much to insure a boat for, please read the Product Disclosure Statement.
Provided the watercraft was new when it was purchased and it’s documented that you’re the first owner, we’ll replace it with a new watercraft if you have Youi boat insurance – or pay you the amount equal to replacing it – if it’s a total loss within 24 months from when it was purchased. If the cost to us to replace your watercraft exceeds your insured value, the most we’ll pay is the insured value plus an additional 20%.5
Some terms and conditions apply to new watercraft replacement cover and it’s only available with Comprehensive or Third Party Fire & Theft boat insurance. For more information, please read the Product Disclosure Statement.
If you’re accidentally injured while using your watercraft or tender and a Comprehensive or Third Party Fire & Theft boat insurance claim has been accepted for loss or damage, we’ll cover you for up to $5,000 per claim for your personal injury expenses, or up to $10,000 per claim if it results in your death, including funeral costs.3
We cover the costs involved in salvaging the watercraft or tender, as well as towing it to and storing it at the nearest suitable place for safekeeping after an insured event. The most we’ll pay for each claim is $150,000.2
Additionally, if you’re more than 100km from the place where your boat is usually kept, we’ll reimburse you for some costs if you need emergency accommodation, transport or repairs. The most we’ll pay is $1,000 per claim. These covers don’t apply to Third Party Property Only boat insurance policies.2
You can choose to include optional cover for social sailboat racing when you have Comprehensive boat insurance for your sailboat. Please note that you’ll be charged an additional premium.10
Boat insurance cost depends on a number of factors, as well as the level of boat insurance cover you choose. You can compare boat insurance costs by getting a few different boat insurance quotes.
To find out how much it is to insure a boat with Youi, consider starting a boat insurance quote today.
At Youi, there’s a couple of options to lodge a boat insurance claim. You can lodge a claim online 24/7, or by calling us on 13 9684 during service hours – all you need to provide us with is your policy number, a few details about the incident and your best contact number.
We strive to review all boat insurance claims fairly and as quickly as possible, so you can get back out on the water.
Cover for watercraft contents comes as standard with our Comprehensive and Third Party Fire & Theft boat insurance policies. We will pay for each claim up to $1,000 after excess.3 You can also choose to increase the insured value of your watercraft contents by selecting to add the Watercraft Contents Upgrade optional cover to your Comprehensive or Third Party Fire & Theft boat insurance policy.4
Personal boat insurance, including jet ski insurance, depends on a number of variable factors and the level of cover you choose.
To get an idea of what jet ski insurance in Australia might cost with Youi, consider starting a quote online.
No. You’re not covered by Youi’s boat insurance if you use your watercraft for business purposes, including if it’s used for charter or hire or any other use that generates any kind of income or reward.
Our boat insurance does cover you if you use your watercraft for voluntary rescue work in addition to its social use.
From choosing a boat to getting your licence to finding the best boat insurance for your trusty vessel, our guides could help.
What’s considered the best boat insurance in Australia for you could be based on a number of factors. Whether you’re looking for something that suits your lifestyle out on the water, your budget or optional cover choices, see what other Aussies say about our boat insurance – it might help you decide which cover suits you.
TThe CSO was very helpful and very informative and knowledgeable about the subject on boat insurance. Certainly changed my mind on Youi insurance, will definitely look to Youi insurance for my other future needs.
I spoke with James in regards to insurance of our boat in order to compare your price, as my policy was up for renewal with another company. James was very polite, easy to converse with and awesome on the phone, which made me feel at ease. I saved approx. $300.00 with your policy and am over the moon.
Fantastic saved me over $200 a year on my JetSki insurance
Right from the start, my call was answered quickly, no waiting online for 30 minutes. I was then helped to get the exact policy I needed for my boat. A very satisfying result, more than happy!
Watercraft Insurance issued by Youi Pty Ltd. Consider the Watercraft PDS and TMD to decide if this product is right for you.
1 Available with Comprehensive policies. Limits apply (and exclusions apply for intentional damage and storm, hail and flood). For more details, see the PDS.
2 Available with Comprehensive and Third Party Fire & Theft policies. Limits apply. For more details, see the PDS.
3 Available with Comprehensive and Third Party Fire & Theft policies. Exclusions and limits apply. For more details, see the PDS.
4 An additional cost applies and is available with Comprehensive and Third Party Fire & Theft policies. Exclusions and limits apply. For more details, see the PDS.
5 If your watercraft is a total loss from an insured event within 24 months of it being bought new and registered or documented in your name as the first owner, we’ll replace it with a new one of a similar make, model and specification to the insured one or, if there is no readily available replacement, pay you a cash-equivalent amount based on industry pricing guides. Where the cost to us to replace the watercraft exceeds your insured value, the most we will pay is the insured value plus an additional 20%. Available with Comprehensive and Third Party Fire & Theft policies. Exclusions and limits apply. For more details, see the PDS.
6 Where you have increased your cover or reduced your excess within 72 hours of a flood, storm, hail or bushfire occurring, cover will be limited to the amount that was effective prior to the change. Loss, damage or legal liability caused by, resulting or arising from flood, storm, hail or bushfire during the first 72 hours of your policy first being purchased is excluded unless certain conditions apply. Exclusions and limits may apply. For more details, see the PDS, TMD and your policy schedule.
7 Exclusions and limits apply. For more details, see the PDS.
8 Available with Comprehensive, Third Party Fire & Theft, and Third Party Property Only policies. Exclusions and limits apply. Watersports Liability is only covered if you have told us that you use the watercraft for watersports and this is noted on your policy schedule. For more details, see the PDS.
9 Available with Comprehensive, Third Party Fire & Theft, and Third Party Property Only policies. Exclusions and limits apply. For more details, see the PDS.
10 Available with Comprehensive policies only and an additional cost applies. Exclusions and limits apply. For more details, see the PDS.
11 Source: NSW Government – How to register a vessel
12 Source: Qld Government – Register a boat
13 Source: VicRoads – Register a boat or jet ski
14 Source: Safe Transport Victoria – Marine licence and registration
15 Source: WA Government – Register a vessel
16 Source: SA Government – Boat compliance
17 Source: SA Government – Check your boat registration online
18 Source: SA Government – Owning a boat
19 Source: ACT Government – Boating on ACT lakes and Googong Reservoir
20 Source: Tas Government – Apply to register a boat