"People who live in glass houses should take out insurance"
There are not many conditions when you get a boat loan, however one that the the boat loan providers do make sure you adhere to is the fact that you must have comprehensive insurance on your boat. We are agents for the leading boat insurance company in Australia "Club Marine Insurance" and can offer you your comprehensive insurance as a yearly premium, by the month or even included in your finance finance repayments to lessen the financial burden for the next 12 months.
Below is an outline of the covers we offer as part of our insurance products. As you can see we offer not only comprehensive insurance but also a suite of insurance products including Gap Cover, CCI Cover and Warranties to help fully cover your boat and yourself from any unforseen circumstances.
- Unknown source
Gives you protection if your craft suffers accidental loss or damage, cover for death or injury to other people or damage to their property. The Club Marine policy offers coverage of items that other insurance companies may charge extra for.
Club Marine policy holders receive the benefits listed below.
This is a summary only; you should read the full boat insurance policy wording and the Product Disclosure Statement before you purchase a policy.
- It covers your boat if left unattended on a beach or moored temporarily off any exposed beach or shore (excluding NSW Metro runabouts).
- Emergency trailerable towing up to $1000.
- It covers your outboard or auxiliary motor even if it is not fitted with a safety device and it falls over the side.
- There is up to 60% discount on your premium if your boat is laid up.
Buy online and save 5% off boat insurance.
The aim of the wise is not to secure pleasure, but to avoid pain.
- Aristotle (384 BC-322 BC) Greek philosopher
Pleasurecraft Equity Insurance
The purpose of Pleasurecraft Equity Insurance is designed to:
- pay your financier any outstanding balance on your loan contract (up to the policy limit excluding certain amounts such as arrears) where the total loss payment made by the insurer of your comprehensive pleasurecraft insurance is insufficient to pay out your loan contract; and
- In addition to the above pay:
- the relevant excess paid by you; and
- delivery charges, registration, comprehensive pleasurecraft insurance premium and stamp duty on your replacement pleasurecraft; arising from the total loss claim under your comprehensive pleasurecraft insurance up to the relevant limits specified.
What is the Loan Settlement amount?
The Loan Settlement amount is the difference between the dollar value provided by the financier to the insured to finalise the loan agreement in place and the amount paid by the insured's comprehensive pleasurecraft insurance in respect to a total loss claim
- Option A: $10,000
- Option B: $12,000
- Option C: $15,000
- Option D: $20,000
|Loan agreement payout||$32,000.15|
|Loan settlement amount||$5,523.15|
To be eligible to apply for Pleasurecraft Equity Insurance the insured must:
- have a loan contract on a pleasurecraft; and
- have Comprehensive Insurance on the pleasurecraft
"A wise man makes his own decisions; an ignorant man follows the public opinion."
- Chinese Proverb
Loan Protection Insurance
- It pays part of the customer's loan repayment up to the maximum policy benefit if the customer is unable to work due to a defined injury or illness (Disability cover)
- It pays part of the customer's loan repayment up to the maximum policy benefit if they become involuntarily unemployed (Involuntary Unemployment cover)
- It pays the outstanding balance of the customer's loan if they should die or suffer a defined trauma (Trauma and Death cover)
A medical examination is NOT required for obtaining this insurance.
- Trauma & Death
Benefit paid is Net loan balance due up to $100,000
Benefit paid is one 30th of minimum monthly repayment (after 7 day elimination period) to a limit of $3,000 per month with $100,000 as the maximum combined amount paid for all claims by all insured person.
- Involuntary Unemployment
Benefit paid is one 30th of minimum monthly repayment (after 7 day elimination period) up to a maximum period of 120 days and a limit of $4,000 per claim with a combined amount of $10,000 during the entire period of insurance for all claims by all insured persons