how much to insure a boat
Boat insurance in Australia typically costs between $300 and $1,200 per year, depending on several key factors like the type of boat, its value, usage, and where it's stored.
Main Factors That Affect Boat Insurance Cost:
- Type of Boat: Jet skis and smaller boats are usually cheaper to insure than yachts or sailboats.
- Value of the Boat: The higher the value, the more it costs to insure.
- Usage: Boats used only on weekends cost less to insure than those used frequently or commercially.
- Location: Insurance premiums vary depending on whether you use your boat in rivers, lakes, or offshore ocean waters.
- Storage: Boats stored in a secure marina or garage may qualify for lower premiums.
Some popular Australian providers like Club Marine, NRMA, and Youi offer tailored boat insurance plans. Always compare quotes and consider what’s covered — including damage, theft, third-party liability, and storm-related incidents.
Tip: You can often save money by bundling boat insurance with your home or car insurance.