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Boat Insurance

BOAT INSURANCE

The highly flexible water and pleasure craft policy from Compendium offers peace of mind for fresh and saltwater enthusiasts alike. It covers a range of vessels that include boats, dinghies, yachts, cats, jet skis and more; plus all on-board equipment and accessories.

Our boat insurance coverage includes:


Accident
Fire, lightning, explosion, earthquake, volcanic eruption
Malicious acts
Outboard motor damage or loss, provided it is securely fastened to the vessel
Negligence of any person
Theft or attempted theft including machinery, outboard motors, gear or equipment if stolen with the vessel or following forcible or violent entry into or exit from the vessel or place of storage.

We can talk to you about special policy extensions as well.

Boat insurance covers any vessel meaning a pleasure craft having a maximum designed speed of one hundred (100) kph specified in the schedule. This comprises the hull, superstructure, fittings, machinery, engines, motors, boats, gear and equipment that would usually be sold as one unit. The trailer needs to be specified in the schedule.

Calculating the sum insured: The current purchase price of a new vessel of the same or a similar model if the vessel is less than 4 years old must be noted as the sum insured. Alternatively, the current market value if the vessel is older than 4 years, or the limit of indemnity shown in the schedule will be paid out,
whichever is the lesser.

Important note: Cover applies to any body of water within Southern Africa, and extends as far as 12 nautical miles from the coast of South Africa, Namibia and Mozambique.

To speak to one of our brokers, contact us on 031 242 6800, or fill in the Request a Quote form.

 

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