Youi Boat Insurance
Get comprehensive or third party boat insurance from Youi and keep your vessel secure
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Getting out and about on the lakes, rivers, dams and oceans of Australia is one of the great joys of owning a boat. But whether you’re the proud owner of a small runabout or a yacht with all the bells and whistles, it’s important that you have adequate insurance cover in place for your nautical investment.
Youi is an Australian general insurance company that underwrites all its own policies. With a focus on tailoring policies to customers to make cover more affordable, Youi offers three boat insurance options to suit different budgets and cover requirements: Comprehensive, Third Party Fire & Theft and Third Party Property Only.
Compare Boat Insurance Policies Available from Youi
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Youi Boat Insurance Cover Options
Comprehensive Watercraft Insurance
This is Youi’s highest level of boat insurance cover and it is designed to offer a total insurance package. It covers both accidental and intentional damage to your watercraft, as well as damage caused by storm, flood, fire, theft, earthquake and more. General liability and watersports liability cover are both included, as are towing and salvage, emergency accommodation and watercraft contents.
Key features
- This high-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property, or for watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property
- Cover for damage caused by storm or flood, fire, theft, attempted theft or earthquake
- Cover for accidental and intentional damage
- If you’re more than 100km from where your boat is usually kept and you are involved in an insured event that results in your boat being unsafe to use, you’ll receive up to $1,000 cover for your emergency accommodation, transport or repairs
- Cover for the cost of salvaging a watercraft wreck after an insured event and towing it to a safe place. Cover is also included for the cost of preventing further loss or damage.
- Temporary replacement watercraft for up to 14 days while trading in your current watercraft (under $75,000)
- $10,000 death and $5,000 personal injury cover if you are hurt when using the watercraft
- Up to $1,000 of cover for watercraft contents.
- Other benefits include watercraft signwriting, watercraft mooring fees and sea rescue donation
Third Party Fire & Theft
This mid-level policy provides cover when your boat causes damage to someone else’s property, plus it also includes a few handy extras. In addition to $10 million of general liability cover and $10 million of watersports liability cover, it offers protection when your boat is damaged by fire or theft. Other benefits include cover for towing and salvage, emergency accommodation, watercraft contents, personal injury and more.
- This mid-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property
- $10 million of watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property
- Cover for boat damage caused by fire, theft, attempted theft
- If you’re more than 100km from where your boat is usually kept and you are involved in an insured event that results in your boat being unsafe to use, you’ll receive up to $1,000 cover for your emergency accommodation, transport or repairs
- Cover for the cost of salvaging a watercraft wreck after an insured event and towing it to a safe place. Cover is also included for the cost of preventing further loss or damage.
- Up to $1,000 of cover for watercraft contents.
- Other benefits include personal injury and death, watercraft signwriting, watercraft mooring fees and sea rescue donation
Third Party Property Only
Youi Third Party Property Only Cover is an entry-level offering for boat owners who only want a basic level of cover. It includes $10 million of general liability cover for when your watercraft causes damage to someone else’s property, and $10 million of watersports liability cover.
- This entry-level policy offers $10 million of general liability cover for when your watercraft causes damage to someone else’s property
- $10 million of watersports liability cover when you use your boat for watersports and it results in injury or death to other people, or damage to someone else’s property
- If you set a new Australian National Sportfishing Association fishing record, you'll receive a $200 benefit
What you won't be covered for
Youi will not pay your boat insurance claim if:
- It is for loss or damage to any illegal property or item
- It is for loss or damage to any insured property caused by theft or attempted theft by deception
- You admit liability that would otherwise not have existed at law
- It is for any insured event that occurred outside Australia
- It results due to the intentional or deliberate acts or omissions by you or anyone else covered under your policy
- It arises due to your boat being used for any illegal activity
- It is caused by the legal repossession, confiscation or destruction of any property
- It is caused by wear and tear, rust, corrosion or deterioration
- It is a result of cleaning, restoring, modifying or repairing the property
- It is caused by mechanical, electronic or electrical breakdown or failure
- It is a result of poor or faulty design specification, materials or workmanship
- It is for the repair of any damage that existed prior to the start date of the policy
- It is for damage to sails and protective covers caused by wind (unless the same insured event also damaged the masts, boom, rigging or hull
- It is for loss or damage to moorings
- It is for legal liability caused by the use of diving equipment
- The watercraft or tender was being operated by someone who didn’t have your permission to do so (unless it was stolen)
- The watercraft or tender was being operate by someone who didn’t have the proper licence to operate it
- When the watercraft or the car towing the watercraft was being operated by someone under the influence of alcohol or drugs
- When the watercraft is being towed by a vehicle in breach of state or territory transport regulations
- When the watercraft or tender is being used for racing, speed trials or contests
- If the watercraft or tender was being used in a reckless manner or while unregistered
- If your watercraft or tender was being used for business purposes
How Much Does Youi Boat Insurance Cost?
Youi Boat Insurance premiums are affected by a number of factors, including:
- The type and age of your boat and what it is used for
- The address and any security measures or systems were your boat is usually moored or parked
- The age(s) of the boat operator(s)
- The value of any additional cover options you add to your policy
- The premium payment method you select
- Your insurance claims history
- Administration costs, taxes and government charges
How much excess will I have to pay?
You’ll need to pay an excess for every claim you make on your Youi Boat Insurance policy. The amount you pay will be the combined total of the basic excess and any additional excesses shown on your policy schedule. However, if you’re involved in an insured event that is completely the fault of the third party and where liability can be established, the basic excess amount may be waived.
Additional excesses are only payable under certain circumstances, so check your Youi policy schedule for more details.
How do I make a claim with you?
Every claim you lodge with Youi must relate to a separate event; you cannot include multiple events in one claim. You’ll also need to make sure that you take all reasonable precautions to prevent loss or damage occurring to your property, including after an insured event has already occurred.
If you’re the victim of theft, make sure to report the matter to the police as soon as possible. Make sure to obtain a written copy of the incident report as you will need to provide it at claims time.
You can lodge a claim by filling out a claim form online or by phoning Youi. The insurer will need to be able to view or inspect damaged goods or property, and it’s important that you promptly supply any documents the insurer requests to process your claim, such as receipts or police reports.
Questions you might still have
Youi Boat Insurance offers crucial financial protection for a wide range of vessels. Compare its features and benefits with those of other boat insurance policies to find cover that suits your unique requirements.
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Ask a question
We have a 52 ft motor cruiser but are currently living in Malaysia & cruising SE Asia. Do you cover in this situation?
Hi John,
Thanks for reaching out to finder.
Just to confirm that the motor insurance brand we feature on our site and all other products and services are only available to people in Australia, so I’m afraid this may not be applicable to you. You’d be best to get in touch with an insurer in your country instead.
Cheers,
May
I require a quote for 3rd party boat insurance please
Hello Malcolm,
Thank you for your inquiry.
Please be advised that you have reached finder.com.au, we are a comparison website and not the insurer.
We feature You solely in our insurance panel. If you wish to learn more, please read our guide on boat insurance. On that page, you’ll learn more about what boat insurance policies covers, what their features are, and a lot more.
Hope this helps.
Cheers,
Jonathan
is my boat covered for damage caused by a travel lift/haulout gone wrong?
Hi Jim,
Thanks for your question. Finder is a comparison service and we are unable to provide personalised financial advice. You may need to contact Youi directly for claims questions.
All the best,
Richard