• What is Boat Insurance?


    Whether you have a luxury houseboat or a modest personal watercraft, your boat is something you want to protect. With RACV Boat Insurance, your boat and its permanent fixtures and fittings are protected from loss or damage caused by a variety of events, including unintentional collision damage, collision, fire, storm and flood, theft and more.

What does Boat Insurance cover?


With an RACV Boat Insurance policy, your boat will be covered for a range of events. Here’s a summary of what’s included: 

  • Loss or damage to your boat caused by an accident, flood, fire, malicious act, storm, theft or attempted theft.
  • Up to $1000 for hull inspection by a qualified marine repairer if you need to confirm whether a covered incident has caused loss or damage.
  • Up to $5000 for search and rescue services for anyone using your boat.
  • Up to $250,000 clean-up costs to remove, contain or clean up debris or liquids from your boat as a result of an insured event.
  • Up to $10 million in liability cover for you or someone permitted to use your boat, where your boat causes unintentional harm to someone, or causes unintentional loss or  damage to someone else’s property.

Cover for boats includes:

  • the hull
  • motors that propel your boat through the water
  • masts, spars, rigging and sails
  • fire extinguishers and life jackets
  • protective canopies and covers
  • a boat tender
  • a trailer used to carry your boat.

This is only a summary of the inclusions for RACV Boat Insurance. For more information, such as conditions, limits and exclusions, please read the Product Disclosure Statement.

  • The cost to fix previous damage.
  • General deterioration or wear and tear.
  • Mechanical, structural, electronic or electrical failures.
  • Incidents that take place more than 200 nautical miles from the Australian mainland or Tasmania.
  • Incidents where the person controlling your boat was under the influence of any alcohol or drug, was being reckless, was an unsupervised learner driver or did not hold a current or valid licence.

For more information on General Exclusions and items not included in your cover, refer to the Product Disclosure Statement.

For added peace of mind, you can choose to boost your boat insurance with optional extras. If you do this, you’ll need to pay a little more on your premium.

Contents cover
Nominate cover up to $10,000 for contents in a lockable cabin or compartment on your boat. Includes portable clothing and selected personal belongings, GPS, diving, fishing and waterskiing equipment stored there.

Liability cover for water-skiing and floatation devices
This option extends your liability cover to include when your boat is being used to tow a waterskier or someone riding a flotation device. 

Lay up cover
A great option for people who only use their boat during summer; you can reduce the cost of your premium by nominating a period of up to 6 months where you won’t be using your boat. If you choose this option, the cover provided to your boat during the lay-up period will be limited.

Sailboat racing cover
Extended cover for when your sailboat is used in a race, trial, test, contest or organised event, with up to a 50 nautical mile radius from the official starting point.

For associated conditions, see the Product Disclosure Statement.

  • Out of Water Survey and Valuation Report

    If your boat is moored, you may be asked to provide an Out of Water Survey and Valuation report before your vessel can be insured.

    • The report must be conducted by a qualified marine specialist.
    • The findings of the report help determine the condition of your boat and whether it is seaworthy.
    • It can be used to check if any special conditions need to be applied to your policy.

    How do I know if I need to complete the report?

    The table below can be used as a guide to help you determine whether you’ll need to arrange a report for your vessel. 

  • Download survey template

    Have you been asked to fill out a condition, risk evaluation and valuation report for your moored boat?

Ways to save with RACV

Useful links

Frequently asked questions

How much does boat insurance cost?

A number of factors contribute to the overall cost of your premium. This includes the type of boat you have, where and how you keep it and whether you want to add extra options to your cover.

You may be able to reduce the cost of your premium by choosing the Lay up cover option at the start of your policy period.

Lay up cover is when you nominate a period of time – between one and 6 months – where you won’t be using your boat and it will remain securely kept on a trailer, or dry stored.

For more details on Lay up cover and associated conditions, refer to page 32 of the Product Disclosure Statement.

What is agreed value and how is it calculated?

Agreed value is the amount you want to insure your boat for. Because it is a fixed amount, it provides more certainty on what compensation you can expect if your boat is considered a write off after an accident.

To work out the agreed value, you might be asked to get a valuation report for your boat, which needs to be completed by an independent, qualified and licenced marine valuer.

The agreed value of your boat includes any modifications, options, or accessories that are attached to your boat.

What types of boats can be insured?

RACV Boat Insurance covers boats that are dry stored, moored or kept on a trailer. This includes canoes, cruisers, cuddy cabins (half cabins), dinghies, house boats, kayaks, runabouts, sailboats (single hull and catamarans) and ski boats.

More from RACV

For full details on how you’re covered read the Product Disclosure Statement

^ List of local Marine Surveyors provided for convenience only. The list is not exhaustive and may be subject to change. RACV is not affiliated with the any of the listed Marine Surveyors. RACV does not guarantee the quality or accuracy of any Out of Water Surveys or Valuation Reports produced by a listed Marine Surveyor.

* On existing policies discount takes effect at next renewal. Excludes Travel, Business, Farm, Single Item and Pet Insurance products.

RACV Boat Insurance is issued by Insurance Manufacturers of Australia Pty Limited ABN 93 004 208 084 AFS Licence No. 227678. The information on this website is general advice only so before making any decisions, please consider your own circumstances and the Product Disclosure Statement.