Marine & Pleasure Craft Insurance

At Insurance Broking Services, we understand the unique challenges faced by boat owners, yacht operators, and commercial vessel operators across Australia. Marine insurance is a specialist class unlike any other — the risks of collision, grounding, sinking, storm damage, theft, and wreck removal apply whether you are a private recreational boater or a commercial charter operator, but the policy structures, coverage triggers, and regulatory obligations differ significantly between the two. For commercial vessels operating under an AMSA Certificate of Survey and Certificate of Operation, standard recreational insurance is not sufficient — insurers must be satisfied the vessel complies with all regulatory requirements, and operating outside the approved class of operation is a material issue that can void a claim entirely. Commercial vessels 35 metres or more in length are also subject to a statutory Queensland minimum of $10 million for pollution clean-up, salvage, and wreck removal. Protection and Indemnity cover fills a critical gap that standard public liability policies miss — most PL policies specifically exclude liability arising from the use or navigation of watercraft, meaning third-party injury, cargo damage, and pollution liability on the water require P&I cover. For pleasure craft, the choice between agreed value and market value, the inclusion of wreck removal, pollution liability, and personal accident cover, and the extension to racing, blue water cruising, or cyclone-prone northern waters all require careful consideration. We leverage our industry knowledge and access to specialist marine underwriters to build tailored insurance solutions for your situation, ensuring your vessel, your crew, your passengers, and your operations are properly protected on Australian waters and beyond.