Boat Insurance
Your boat might be your pride and joy, your weekend escape or even your place of residence. With boat insurance from Australian Military Bank, you can relax knowing that should anything happen, you’ll be back on the water without any major expense or trouble.
Cover for
damage
Cover for
towing or transport
Liability
Cover
Overview
The key features of our boat insurance policy includes:
- Accidental damage cover including collision
- Automatic cover for accessories, tools and contents (up to $1,000)
- Your boat is covered while navigating Australian inland and coastal waters up to 200 nautical miles offshore (or in transit within Australia)
- New for old boat replacement
- Personal accident cover
- Cover for towing and transport costs
1300 13 23 28 to speak to a consultant, or visit us in person at your nearest branch.
Inclusions
- Accidental damage (including collision)
- Automatic cover for accessories, tools and contents up to $1000
- Cover for fire, explosion, flood, storm and theft
- Cover while navigating Australian inland and coastal waters up to 200 nautical miles offshore (or in transit within Australia)
- Damage to boat trailer
- Food spoilage up to $500
- New-for-old boat replacement in the event of a total loss, if the boat is purchased new up to 2 years old
- Optional additional accessories cover
- Optional lay up cover
- Optional Water Skiers or Aquaplaning liability extension
- Optional Yacht Racing Risk extension (Covers sails, masts, spars and rigging)
- Personal accident cover includes ambulance costs, funeral costs and total disablement payments
- Personal property belonging to you, your crew or invited guests up to $1500
- Return to home costs if your boat is damaged more than 100km from home up to $500
- Towing costs
- $10 million liability cover
Questions
We get asked a lot of questions about our Boat Insurance. Here are the top 5. Have a different question? Call us on 1300 13 23 28 to speak to a consultant.
Is my boat covered if I have an accident whilst on the water?
Yes, you’ll be covered for accidents that occur on the water, whether or not you’re at fault.
Is my boat covered if I have an accident on the road whilst towing my boat?
Yes, you’ll be covered for accidents that occur on the road if your boat if being towed, whether or not you’re at fault.
Will I have to pay an excess if the accident was not my fault?
If it’s agreed that the accident was not your fault and we are provided with all the relevant documentation, you won’t be liable to pay an excess. Refer to the PDS for more information.
Is all the equipment on my boat covered?
You’ll be covered for any damage to the boat’s hull, accessories, masts, sails, rigging, motors (including control equipment) and tools supplied with your boat.
Am I covered for recovery costs if my boat sinks?
Yes, if your boat sinks and has to be recovered and transported for repairs, you’ll be covered for the costs associated.
