Whether you use your boat for business or personal recreation, it’s a considerable investment that needs to be insured against damage, theft and accidents.
Typically, boat insurance can range from a couple of hundred to over a thousand dollars a year, depending on the size and value of your boat, as well as a number of other factors.
Marine insurance providers will consider the type of boat, what it’s used for, the speed and engine type, mooring location, or where you will store it when not on the water.
You will also come into the equation. Much like car insurance, your age, credit score and boating history will also be considered.
Unless you are in the market for a very expensive boat, you can usually expect boat insurance to range from $300 to $500. This is something you should consider before buying a boat, especially if you’ll be applying for boat finance and will have to manage those payments too.
At Aussie Boat Loans, we provide a range of marine insurance products, including GAP cover, loan protection insurance and even extended warranty on the boat itself. If you’re in the market for a new boat, contact us on 1300 889 669 or apply online with our insurance quote form.
Why Should You Insure Your Boat?
Australia is a water loving nation, with most of our population living either on the coast or major rivers. It’s only natural that we spend a lot of time on the water. Every year there unfortunately are thousands of boating accidents causing millions of dollars in property damage and thousands of injuries.
Depending on your level of cover, boat insurance safeguards you and your passengers, as well as damage to your boat, other boats in the case of collisions, and even theft.
You wouldn’t leave a car uninsured, so why leave your boat unprotected? Contact Aussie Boat Loans for an insurance quote today.