Boat Insurance.

Yes, if you have Comprehensive, Third Party Fire & Theft, or Third Party Property Only watercraft insurance with Youi and you have told us that you use the watercraft for watersports and this is noted on your policy schedule, you’ll be covered for accidents resulting in injury or death arising from the use of your watercraft or tender for watersports, for up to $10 million.¹⁹

Cover for contents inside the watercraft or tender is automatically included under our Comprehensive and Third Party Property Fire & Theft policies. This cover applies only if the loss or damage to the contents occurs due to an insured event and is up to $1,000 per claim after excess.⁵ If you require a higher level of cover, you also have the option to upgrade.⁷

When you make a claim, you will need to pay an excess. The following excesses may apply to your claim and will be shown on your policy schedule:

• Basic Excess – this is the initial amount payable by you on any claim.
• Additional Excess – in particular instances, an additional excess may apply to your claim and will be noted on your policy schedule.
• One Excess – if you make a claim for the same incident on more than one Youi policy, you’ll only need to pay one excess. The incident must be a single event that occurs at the same address and time, and the applicable excess will be the highest excess amount noted on the relevant policies.

Where the incident is completely the fault of a third party and you can provide the required details,²¹ we will waive payment of any excesses.

For more information, please read the Product Disclosure Statement.

If you have Comprehensive or Third Party, Fire and Theft insurance, you nominate an insured value for the hull and tender, and depending on the watercraft type, additional sums insured for:

• Outboard motor(s);
• Sails, masts, booms and rigging; and
• Trailer. 

For more information, please read the Product Disclosure Statement.

Provided the watercraft was new when it was purchased and it is documented that you are the first owner, we will replace it with a new watercraft (or pay you the amount equal to replacing it) if it is a total loss within 24 months from when it was purchased. If the replacement cost exceeds your insured value, the most we will pay is the insured value plus an additional 20%.⁴

There are some terms and conditions which apply to the watercraft replacement. For more information, please read the Product Disclosure Statement.

When you purchase either Comprehensive or Third Party Fire & Theft coverage, if you’re accidentally injured while using your watercraft or tender where a claim has been accepted for loss or damage, we’ll cover you for up to $5,000 per claim for your personal injury, or up to $10,000 per claim if it results in your death (including funeral expenses).⁵

Any repairs to the watercraft which we arrange, authorise and pay for will come with Youi’s Quality Guarantee for as long as you own the watercraft.¹⁸

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. The most we will pay for each claim is $150,000. Additionally, if you are more than 100 kilometers from the place where it is usually kept, we will reimburse you for some of the costs incurred should you require emergency accommodation, transport or repairs following the insured event. The most we will pay is $1,00 per claim. These covers do not apply to Third Party Property Only policies.⁵

You can choose to include optional cover for social sailboat racing when you have Comprehensive insurance for your sailboat insurance. Please note that you will be charged an additional premium.⁸

How much it will cost to insure your boat will depend on a number of variable factors, as well as the level of coverage you choose. At Youi, we’ve made it easier to see how much your coverage will cost. To find out more, start a boat insurance quote today.

In the Find out what cover we offer in your state section of this page, we provide boat insurance information that’s specific to each state and territory of Australia where we provide insurance. If you’d like to talk to one of our friendly advisors about insuring your boat, give us a call on 13 9684.

The cost of your jet ski insurance will depend on a number of variable factors, such as the make and model of the jet ski. It will also depend on the level of coverage you choose – with Youi, your choices include Comprehensive, Third Party Fire & Theft, and Third Party Property Only. Start a quote today to learn more about how much it might cost to keep your jet ski insured.

You are not covered if the watercraft is used for business purposes. This includes if is used for hire, charter or any other use that generates any kind of reward.

We do cover you for voluntary rescue work in addition to your social and pleasure usage.

We cover the costs involved in salvaging the wreck, as well as towing the watercraft and storing it at a suitable place for safekeeping. Additionally, we reimburse you for some of the costs incurred should you require emergency accommodation or transport following the insured event. This cover does not apply to Third Party Property Only policies.