Pleasure Craft Insurance – Make Sure Your Leisure Activities Don’t Pose Financial Risks
Whether you enjoy a leisurely fishing trip at weekends or you head out on the water for some action sports and jet skiing, the investments you make in these activities can be quite significant.
But unlike insurance for land-based vehicles, boats and jet skis can expose you to very different risks. And those risks can leave you seriously out of pocket if your policy doesn’t provide the right level of protection.
At Aspire Insurance Solutions, we have a specialist team of brokers that can guide you through the quotation process so that you minimise all potential risks.
What Does Pleasure Craft Insurance Cover?
There are 3 main areas that you have to make sure are fully covered by your policy. Any lack of protection in these areas could leave you significantly out of pocket and open to crippling lawsuits.
1 – Liability
Similar to when you’re driving a car on the road, operating a pleasure craft can result in accidents where other people and their property can be damaged.
In order to fully protect yourself, you have to make sure that your policy covers you and friends or family that may also operate the boat or jet ski. This is a common oversight that many pleasure craft owners make.
2 – Accidental Damage
When it comes to dealing with damage on pleasure crafts, repair and replacement bills can quickly add up. And this can be for damage to your own property as well as other boat owners involved in an accident.
You have to make sure that you have adequate cover for third party damage as well as damage to your own equipment to avoid losing a lot of money.
3 – Theft
Unfortunately, theft of jet skis, boats, and boat content is a very real risk both on and off the water during a lay-up period. This is especially the case when it comes to jet skis, as they are so much easier for criminals to steal.
You will also likely store significant amounts of valuable content on a boat, which will include electronic devices. Even if your boat doesn’t get stolen, the replacement costs of your contents could run into thousands of dollars.
Are There Specific Risk You Have To Consider?
Unlike land-based vehicles, there are unique risks that you’re exposed to with your pleasure crafts. Here are 3 very specific situations that you have to make sure are fully covered by your policy.
1 – Water Influx
This is an unfortunately common risk for anyone with a jet ski, and it surprises new owners how quickly it can result in a right-off. Whether through inexperience or being hit by a sudden wave, if your jet ski sucks water into the engine, then in most cases, there is no way to economically fix it.
You have to always make sure that your policy covers this risk.
2 – Collisions Leading To Damage
When it comes to collisions with a pleasure craft, damage can happen either through contact with another boat or jet ski, or it can happen through a collision with underwater objects.
These could be sandbanks or rocks, and they can cause a lot of damage where repairs can cost thousands of dollars.
3 – Sinking
In the worst-case scenario, the sinking of a boat can be the costliest experience. Dependent on the location and the circumstances, you may need to pay for salvage efforts if oil and or fuel could pose a risk to marine life.
As policies can vary significantly in what they cover, it’s important that you get advice to avoid making some of the most common policy mistakes.
Why Dealing With Aspire Insurance Is Your Best Option
Expert Advice With 24/7 Support
At Aspire Insurance Solutions, we have created a service that takes care of everything from the initial assessment and quoting all the way through to dealing with possible claims.
We have brokers who have extensive expertise in valuing pleasure crafts and assessing the types of risks you could be exposed to, based on your individual needs.
And should you ever find yourself in the unfortunate situation to file a claim, our team is on standby 24/7 to help you through the process. This can reduce the stress and hassle, and ultimately speed up how fast you can have your claim paid out.
Tailored Insurance Cover
Because boats and jet skis come in all different sizes, configurations, and values, it’s important to make sure that your policy provides maximum protection based on your individual circumstances.
This is where many people make simple mistakes that can lead to policies that only partially cover certain risks and values, which could mean that you face significant losses.
Annual Premium And Cover Review
While renewing your insurance policy may seem like a simple task of just sending in a premium payment, over time, this can lead to an inadequate cover. At the same time, carefully analysing all the available insurance products and creating a comparison is not an easy task that can take up a lot of time.
At Aspire Insurance Solutions, all of our clients receive a full review of their policy options at the time of renewal. This ensures maximum protection at the best possible price and a completely hassle-free experience.
Unlike online insurance quotes and comparison sites, we pride ourselves in taking the time to get to know our clients’ needs. That’s why we always meet in person or over the phone to make sure we get the full picture of your property and situation.
This also allows us to fully explain your policy options so that you can make the best possible decision.
Contact Aspire Today
If you have any specific concerns about your current policy or want to find out what the best options are, then call our team at Aspire today on 1300 886781. You will receive completely free advice and a no-obligation quote.
Most importantly, you’ll have the peace of mind that you’re protected from financial losses if you end up in a claim situation.