Water sports fanatics and enthusiats who spend hours outdoors keeping up this recreational lifestyle to the full, will know how important it is to have Watercraft Insurance as cover against most eventualities.
Also, bear in mind that most Watercraft Insurance policies, including Boat Insurance or Jetski Insurance, are offered exclusively for crafts that are used for personal "leisure" activities, such as social, domestic or pleasure purposes and for the purpose for which they were designed – it is not for "business/commercial" purposes. So, if you generate any form of income from the use of your craft, you will not be covered by this policy.
Most of the leading insurers in South Africa would grant comprehensive cover for most types of watercraft and boats for personal use such as: Motor Boats, Ski Boats, Sail Boats, Catamarans (i.e "cats"), Inflatables (Rubber Ducks and semi-rigids), Yachts, Wet Bikes, Jet Ski's and the like.
The majority Insurers will cover any seaworthy vessel comprising items such as the hull, super structure, machinery, engines, motors, rudder, propeller, hoardings, moorings, sails, spars, masts, rigging, fixtures, boat gear and the standard accessories & equipment – which would normally be sold as one unit. The trailer might be in- or excluded from this cover - discuss with your Broker.
Depending on your individual needs, some of the insurers have the option of only taking out Jetski or Boat Insurance.
We’ll insure your watercraft (i.e. all equipment, machinery, hull, motors, standard fittings and accesosories) against damage caused by risks or perils such as: Accident, fire, theft, hijacking, explosion, storms, hail, flood and snow.
DIB Solutions (Pty) Ltd have partnered with reputable underwriters and various insurance companies in order to assist our clients with appropriate Insurance cover – we can therefore also assist clients with tailor-made products (where applicable) at competitive premiums. We provide a professional and personal service, as well as build long-term relationships with our clients. There are a few product options you may consider in the market platce – therefore discuss your individual needs with one of our experts.
- Add-ons: Some insurers have the option to add water-skier liability to your policy;
- Note: Some insurers will not insure any of your boat, jetski or other watercraft on a stand-alone basis;
- Check if your boat, jetski or other watercraft are linked to bonusses or rewards and how claims may have an impact on this;
- Certain products will also provide some cover for stowage, moving or transporting the boat, jetski or other watercraft (eg rubber duck), after damage or loss;
- Compare excesses on the various Boat, Jetski or other Watercraft Insurance product options;
- Emergency accommodation may also be offered by some insurers. This is for a limited period only, if a journey was interrupted;
- Legal and Liability cover extensions may also be on offer for household members who may have piloted/navigated the craft at the time of the accident. Some also offer limited medical expense cover;
- Most insurers would require you to insure your boat, jetski, rubber duck or other watercraft's trailer separately – this is under the Motor vehicle section of your policy;
- Most Boat or other Watercraft Insurance products would include the following cover: Hull, motors, hijacking, storms, earthquakes, snow, hail, fire, explosions, accidents, standard fittings and equipment;
- Note that some insurers may even offer trauma counselling for passengers after a hijacking of the boat or other watercraft;
- Products may have limitations as to the kilometre distance (nautical miles) you may be away from the South African (and certain neighbouring states') coastlines;
- Trailers: Most insurers would require you to insure your watercraft's trailer (eg. for boat, jetski, rubber duck or other watercraft) separately as it counts as a separate vehicle – this is under the Motor vehicle section of your policy;
- Your Boat, Jetski or other Watercraft Insurance policy, should also provide for reasonable salvage costs that may be incurred whilst trying to recover your watercraft (in some instances you may be required to get their written consent first).