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Insurances: Damage Waivers, Bareboaters Negligence and Full Travel Insurance

Whats the difference?

Damage Waiver Insurance: Basic

Covers the charter and owner of the vessel from any loss or damage to the vessel. Mostly the Damage waiver insurance is compulsory, but sometimes it is an optional to reduce insurance excesses from $2-$3,000 down to $500 or nil.

Does not cover:

  • Personal injury or property (for the charter or guests)
  • 3rd party damage (marinas, berths, beacons, environmental)
  • Not all cover groundings or lines wrapped around the props (other – be sure to ready your policy)
  • Cancellation (weather or otherwise) - Damage waiver insurance cover varies between vessels and operators (please read your policy)

Price – based on daily rates, or a fixed amount for your charter varies according to vessel value, and starts from $35/day

Charters Negligence Insurance: Additional Cover

This Policy is designed to protect you from claims made against you by others for Property Loss, Accidental Death, Bodily Injury or Illness to them caused by (or as a result of) your negligence. For this policy to apply to you, the hired vessel or the tender must be involved in the loss. -

Policy does not cover:

  • Personal injury or property loss to the charterer or their guests, or personal property o Damage to the vessel caused by the charterer o Cancellation (weather or otherwise)
  • Other holiday related costs: ie transport costs, accommodation
  • (other – refer to the policy)

Cost of the policy up to 5 nights $60, 6-9 $115, 10+ $150 - Click here for a common insurance provider and their policy

Travel insurance: Higher level of cover:

Travel insurance policies vary widely but provide the highest level of cover and are recommended. Consider if you require cover for: -

Before your holiday:

  • Your illness, illness of your group, or skipper
  • Failure of your transport/strike
  • ancellation of your charter even if the cancellation is due to bad weather (refer to the cancellation policy of the vessel Operator). -

During your holiday:

  • Personal injury and property losses
  • Accommodation
  • Cover for insurance excesses including the excess before and after your damage waiver insurance

This information page is provided to summarise the key differences in the 3 levels of cover – please be sure that you satisfy that your insurance meets your requirements. Policies are subject to change.

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