Best Boat Insurance

PDS-Verified Comparison

Boat Insurance Comparison - Side-by-Side PDS Details

Every figure on this page is drawn directly from the current Product Disclosure Statement (PDS) of each insurer - not from marketing summaries or third-party comparators. Use the tabs below to compare standard cover sections, exclusions, excess structures, claims process, and the schematic policy matrix across twelve Australian boat insurers — Club Marine, NRMA, Nautilus Marine, Youi, GIO, QBE, Suncorp, CGU, RAC, RACV, New Wave Marine and Pantaenius — line-by-line against each insurer's current Product Disclosure Statement.

Last verified: 11 April 2026 12 providers · 5 dimensions How we verify →

Cover Sections

Standard cover items and published limits

View the full Product Disclosure Statement

Always read the PDS before buying — sub-limits, exclusions and excesses vary between products and update between PDS versions. The links below open each insurer's current PDS in a new tab.

  • Club Marine
    View PDS
    Pleasure Craft Insurance PDS
    PDF · einsure.com.au
  • NRMA
    View PDS
    Watercraft PDS
    nrma.com.au
  • Nautilus Marine
    View all 3 PDS
    Boat / Premium / PWC PDS hub
    nautilusinsurance.com.au
  • Youi
    View PDS
    Watercraft Insurance PDS (prep 25 Feb 2025)
    youi.com.au
  • GIO
    View PDS + SPDS
    Boat Insurance PDS (prep 25 Nov 2020) + SPDS (prep 18 May 2022)
    gio.com.au
  • QBE
    View PDS
    Pleasure Craft PDS QM6516-0421 (prep 2 Feb 2021)
    qbe.com/au
  • Suncorp
    View PDS + SPDS + TMD
    Boat Insurance PDS (prep 25 Nov 2020) + SPDS (prep 18 May 2022) + TMD (updated 27 Jun 2025)
    suncorp.com.au
  • CGU
    View PDS + SPDS
    Accidental Damage Boat Insurance PDS PID0302 REV14 12/22 + SPDS (Oct 2023)
    cgu.com.au
  • RAC
    View PDS
    RAC Boat Insurance PDS (prep 4 Dec 2020, effective 25 Feb 2021)
    rac.com.au (WA members)
  • RACV
    View PDS + SPDS
    RACV Boat Insurance PDS (prep 2 Aug 2022) + SPDS (10 Oct 2023)
    racv.com.au
  • New Wave Marine
    View both PDS
    BHSI PDS (nwmb15324) + Lloyd's PDS HMNWB_1.0_01_2025 (prep 25 Jan 2025)
    newwavemarine.com.au
  • Pantaenius
    View All Risk + Prime PDS
    All Risk + Prime PDSes (both prep 15 Dec 2025)
    pantaenius.com.au

Accidental loss or damage to the boat

Club Marine
Up to Section 1 limit on Schedule (Agreed or Market Value)
NRMA
Up to Sum Insured (Agreed Value only)
Nautilus Marine
Up to Sum Insured (Boat PDS); Premium PDS uses Sum Insured / repair cost
Youi
Covered on Comprehensive only; paid out at the lesser of market value or the component Insured Value on your schedule (except New Watercraft Replacement which pays up to insured value + 20% in the first 24 months)
GIO
Comprehensive only; paid up to the amount covered on the Certificate of Insurance (Agreed Value)
QBE
Comprehensive only; paid up to the sum insured on Policy Schedule (Agreed Value or Market Value, nominated at quote)
Suncorp
Comprehensive only; paid up to the amount covered on the Certificate of Insurance (Agreed Value). Same PDS as GIO.
CGU
Standard cover — up to the sum insured shown on the Schedule (Agreed Value or Market Value nominated). Single-tier product, no Third Party Only tier.
RAC
Standard cover (Agreed Value) — paid up to the agreed value of the boat
RACV
Standard cover up to Agreed Value (PDS p.12). Loss or damage "Up to the agreed value" per PDS Table of Contents.
New Wave Marine
Standard Comprehensive Cover. Agreed Value with 15% uplift cap above purchase price.
Pantaenius
All Risk product: all-perils cover at Agreed Fixed Amount. Prime product: Accidental Damage cover at Market Value.

Theft / Malicious damage

Club Marine
Standard cover under Section 1
NRMA
Standard cover (no excess applies for theft/vandalism per PED)
Nautilus Marine
Standard cover under each PDS
Youi
Theft standard on Comprehensive + TPFT. Malicious damage covered under "Intentional Damage" (Comprehensive only).
GIO
Standard cover on Comprehensive; NOT offered on Third Party tier (GIO has no TPFT)
QBE
Theft + malicious damage standard on Comprehensive. PWC theft conditional on locked-garage storage with visible forced entry, or trailer with professional anti-theft device (Klampit, TrojanSentry etc.).
Suncorp
Standard cover on Comprehensive; NOT offered on Third Party tier (Suncorp has no TPFT)
CGU
Standard theft cover with conditional storage requirements — locked garage/yard with visible forced entry, or trailer with commercial anti-theft device. Malicious damage covered.
RAC
Standard cover
RACV
Standard cover
New Wave Marine
Standard Comprehensive cover under Section 1
Pantaenius
Covered under Section A of both products

Third-party legal liability

Club Marine
Schedule item (Section 2) - sudden & accidental fuel/lubricant/sewage discharge sub-limit $1,000,000
NRMA
$10,000,000 inclusive of GST and legal costs
Nautilus Marine
Schedule item (Boat PDS); Premium PDS caps at $500,000 inclusive of defence costs
Youi
$10,000,000 published in the PDS (p.29) — combined cap for General Liability + Watersports Liability (inclusive of legal, defence costs, GST); applies to all three tiers. Watersports Liability only if declared on schedule.
GIO
$10,000,000 PUBLISHED in the PDS Key Information box (p.3) — applies to both Comprehensive and Third Party tiers; inclusive of legal costs; pollution sub-limit sits inside this cap
QBE
Schedule item — "Up to the legal liability limit shown on the Policy Schedule for all claims that arise from one accident" (PDS p.24). $10M is the typical retail figure.
Suncorp
$10,000,000 PUBLISHED in the PDS Key Information box (p.3) — applies to both Comprehensive and Third Party tiers. Pollution sub-limit sits inside this cap.
CGU
Schedule item — "up to the sum insured shown in the schedule" inclusive of legal costs and expenses to defend (PDS p.10). $10M is the typical retail figure but set at quote stage. Different from sister-brand NRMA which publishes $10M.
RAC
$10,000,000 PUBLISHED in the PDS — "The most we will pay is $10,000,000 for any incident"
RACV
$10 million — "Up to $10 million for claims made against"
New Wave Marine
Legal Liability under Section 3; $ cap on Policy Schedule. Typically $10M specialist retail.
Pantaenius
Section B — Third Party Liability. $ cap on Policy Schedule. Covers vessel + tenders + water sport equipment + search and rescue + skipper liability.

Wreck removal / raising costs

Club Marine
Included under Section 2 when ordered by a government or local authority
NRMA
Salvage costs included; insurer retains salvage on Total Loss
Nautilus Marine
Salvage included; subject to subrogation
Youi
Included in Towing, Salvage and Loss Prevention (Comprehensive + TPFT)
GIO
Included in Salvage and removal costs up to $10M within the Third Party cover limit (PDS p.30)
QBE
$10,000,000 per event — PAID IN ADDITION to the agreed value of the vessel (PDS p.22)
Suncorp
Included in Salvage and removal costs up to $10M within the Third Party cover limit
CGU
Salvage cover included as standard
RAC
Salvage cover included as standard
RACV
Salvage/removal included within liability cover
New Wave Marine
Included within Section 3 (Lloyd's product wording)
Pantaenius
Included within Third Party Liability (Section B)

Pollution / environmental clean-up

Club Marine
$1,000,000 per Incident (Section 2)
NRMA
$250,000 per incident
Nautilus Marine
$500,000 per Accident / discharge (Boat PDS); $500,000 Marine Environmental Damage (Premium PDS)
Youi
$250,000 pollution sub-limit within the $10M General Liability cap (PDS p.29)
GIO
$250,000 inside the $10M legal liability cap — NOT paid in addition (PDS p.30)
QBE
$500,000 sudden and accidental discharge sub-limit within the legal liability cap. PLUS $20,000 Clean Up Costs PAID IN ADDITION to sum insured for accident-site clean-up (PDS p.20, p.24).
Suncorp
$250,000 inside the $10M legal liability cap — NOT paid in addition
CGU
Accidental discharge pollution cover included - costs of cleaning up the accident site plus legal liability for physical damage caused by the discharge
RAC
Included subject to legal liability limit
RACV
Included subject to liability cap
New Wave Marine
Included within Section 3
Pantaenius
Included within Third Party Liability Section B

Personal effects / contents (aggregate)

Club Marine
$30,000 (combined with fishing/dive/water-ski gear)
NRMA
$1,000
Nautilus Marine
$10,000 (Boat PDS) / $20,000 (Premium PDS)
Youi
$1,000 standard (Extra Cover: Contents). Optional Contents Upgrade lets the owner nominate a higher Insured Value.
GIO
$5,000 standard (Cover for Boat Contents, Additional Cover on Comprehensive). Optional Additional cover for boat contents lets owner nominate higher aggregate on Certificate.
QBE
$5,000 per claim aggregate — PAID IN ADDITION to the sum insured (not deducted from it). $500 per item cap.
Suncorp
$5,000 standard (Included cover for boat contents, Additional Cover on Comprehensive). Optional Additional cover for boat contents lets owner nominate higher aggregate.
CGU
$1,000 total for all claims combined for accessories/tools/contents (PDS p.3). Can be increased on application. Separately, $1,000 total for fishing gear.
RAC
Contents included within Agreed Value framework; per-item specifics not explicitly published
RACV
Contents cover is OPTIONAL — requires lockable cabin or secure storage. Sum insured nominated on Schedule.
New Wave Marine
Section 2 — Personal Effects + Water Sports Equipment
Pantaenius
Equipment + Personal Effects covered; check Schedule for specific caps

Personal effects per-item

Club Marine
$3,000
NRMA
(no per-item published)
Nautilus Marine
$1,500 (Boat PDS) / $2,000 guests, $500 crew (Premium PDS)
Youi
No per-item sub-split on the $1,000 standard. Contents Upgrade caps each item at $1,000 regardless of total insured value.
GIO
$1,000 for EPIRB, VHF or HF Radio; $500 for other contents items
QBE
$500 per item
Suncorp
$1,000 for EPIRB, VHF or HF Radio; $500 for other contents items
CGU
Not explicitly published per-item; the $1,000 aggregate applies
RAC
Not explicitly published
RACV
Set on Certificate at quote stage
New Wave Marine
Set on Schedule per Section 2
Pantaenius
Set on Schedule

Fishing gear / water-ski / dive equipment

Club Marine
Combined with personal effects: $3,000/item, $30,000 total
NRMA
Portable fish finders included in Contents; equipment-in-use excluded
Nautilus Marine
Boat PDS: Water Sports Equipment $1,500/item, $10,000 aggregate; Premium PDS: $2,000/item, $20,000 aggregate
Youi
Included within the $1,000 Contents aggregate; raise via Contents Upgrade
GIO
Falls under Boat Contents definition — subject to $5,000 aggregate and $500 per-item cap (or $1,000 for certified radio equipment)
QBE
Sporting equipment, fishing gear, diving equipment and water ski equipment while in use are EXCLUDED. Items not in use fall under general Personal effects $500/item cap.
Suncorp
Falls under Boat Contents definition; water ski equipment may also benefit from optional Water-skier's liability cover (Suncorp-specific optional)
CGU
$1,000 aggregate for fishing gear; can be increased on application. Water-ski equipment in use excluded; covered under the optional Water Skiers / Aqua-planing Liability Extension.
RAC
Water-ski/sailboat racing treated under optional cover
RACV
Covered if Contents option is taken out
New Wave Marine
Covered under Section 2 Water Sports Equipment
Pantaenius
Covered; Fishing gear explicitly referenced in tender definition exclusions

Marine electronics new-for-old

Club Marine
Not in PDS
NRMA
Not in PDS
Nautilus Marine
Premium PDS only: equipment 3 years old or less replaced new-for-old
Youi
Not published in the PDS
GIO
Not published
QBE
Not published in the 2021 PDS
Suncorp
Not published
CGU
Not published
RAC
Not published
RACV
Not specifically published in audit
New Wave Marine
Check Section 3.2 contribution for electronic items
Pantaenius
Not explicitly published; digital switching systems limited to 50% of repair cost (All Risk)

New-for-old whole-of-boat replacement

Club Marine
PWC only - within first 2 years of new registration
NRMA
Within 24 months of first registration (NRMA brand new boat replacement)
Nautilus Marine
Premium PDS only: 2 years Agreed Value for brand-new boats purchased via dealer
Youi
Within the first 24 months of new registration; pays up to insured value + 20% (PDS p.51)
GIO
Hull, motor(s) or trailer — replaced new-for-old if the affected component is less than 2 years old at time of total loss (PDS p.31)
QBE
Not a published headline benefit in the 2021 PDS
Suncorp
Hull, motor(s) or trailer — replaced new-for-old if the affected component is less than 2 years old at time of total loss
CGU
Not a published headline benefit
RAC
Not a published headline benefit; 14-day auto-cover for newly purchased boats (pending notification)
RACV
14-day auto-cover when you change boats
New Wave Marine
New-for-old replacement parts and repairs on partial loss (Section 3.1)
Pantaenius
Not a published headline benefit — product is Agreed Fixed Amount (All Risk) or Market Value (Prime)

Emergency assistance / Club Care / accommodation

Club Marine
$10,000 (Club Care Benefits) - includes emergency fuel delivery, return-to-base, up to 5 nights' accommodation, economy transport home
NRMA
Emergency repairs section + emergency transport/accommodation section exist - dollar caps NOT visible in PDS extract
Nautilus Marine
Boat PDS: Emergency Assistance $5,000; Repatriation Costs $2,000
Youi
$1,000 Emergency Accommodation, Transport and Repairs (Comprehensive + TPFT only; applies when incident occurs more than 100 km from the watercraft’s usual location)
GIO
Split into three Additional Covers: Emergency expenses up to $5,000 (on-water towing, urgent repairs); Emergency travel costs up to $500; Road towing costs up to $1,000. Post-SPDS 2022, cash-settled only.
QBE
Emergency expenses up to sum insured (Comprehensive only): minimise loss, remove vessel to safety, dry electrical, clean/oil motors, inspect hull after grounding. Plus $750 per period of insurance for trailer road towing (PDS p.21).
Suncorp
Split into three Additional Covers on Comprehensive: Emergency expenses up to $5,000; Emergency travel costs up to $500; Road towing costs up to $1,000. Post-SPDS 2022, cash-settled only.
CGU
Emergency repair costs + $500 return home travel + $1,000 temporary accommodation travel home (when boat was being used as accommodation and cannot be used for 3+ days) + $500 food spoilage
RAC
$500 return home + $1,000 road towing to nearest repairer
RACV
Bundled: Emergency up to $5,000 + Emergency transport and accommodation up to $1,000 + Hull inspection up to $1,000 + Rescue services up to $5,000 = ~$12,000 total
New Wave Marine
Section 5 — Additional Costs and Expenses
Pantaenius
Search and rescue costs covered under Third Party Liability; emergency scope per Schedule

Land-based towing after a covered incident

Club Marine
$1,500 land transit towing to nearest repairer (trailerable boats only)
NRMA
Towing benefit included as standard
Nautilus Marine
Overland Transportation - basic excess applies
Youi
Included in Towing, Salvage and Loss Prevention (Comprehensive + TPFT)
GIO
$1,000 Road towing costs to nearest place of safety or repair (Comprehensive only)
QBE
$750 per period of insurance for trailer road towing to nearest repairer (PDS p.21)
Suncorp
$1,000 Road towing costs to nearest place of safety or repair (Comprehensive only)
CGU
Road towing costs included within emergency cover framework
RAC
$1,000 road towing to nearest safe port or repairer
RACV
Included in emergency cover framework
New Wave Marine
Covered under Section 5 (Additional Costs)
Pantaenius
Covered where connected to an insured incident

Yacht / sailboat racing as standard

Club Marine
Included up to 150 nautical miles course distance
NRMA
OPTIONAL Racing Risk Extension - 25-50 nm radius
Nautilus Marine
Sailboat Racing Cover up to 100 nm course distance - included
Youi
OPTIONAL — Social Sailboat Racing up to 100 nm course distance (Comprehensive only). Professional racing excluded.
GIO
OPTIONAL — Cover for sailing boats when racing up to 100 nautical miles total course distance (Comprehensive only). Power boat racing excluded in all forms.
QBE
OPTIONAL — Racing (Comprehensive) and Racing (Third Party Only) optional benefits, each capped at 200 nautical mile event distance. Power boat racing only via Power Boat Association time trials optional cover (25-knot max).
Suncorp
OPTIONAL — Cover for sailing boats when racing up to 100 nautical miles total course distance (Comprehensive only). Power boat racing excluded in all forms.
CGU
STANDARD Social yacht racing up to 50 nautical miles (no spinnakers, club/association event). PLUS Power Boat Association time trials up to 25 knots INCLUDED as standard. Optional Yacht Racing Risk Extension covers spinnakers + sails/rigging + racing up to 200 nm.
RAC
OPTIONAL — Sail boats when racing cover extends up to 200 nautical miles
RACV
INCLUDED as standard — "Sailboat racing cover" in product TOC
New Wave Marine
DEDICATED SECTIONS — Yacht Racing Risks (Section 2) + Social and Corporate Yacht Racing (Section 5)
Pantaenius
SPECIALIST YACHT-FOCUSED RACING ARCHITECTURE. Sailboat racing covered per Schedule; racing beyond 250 nm requires specific Schedule entry. Motorboat racing excluded.

Tournament / regatta entry fee reimbursement

Club Marine
$2,000 for non-refundable entry fees if a covered incident forces withdrawal
NRMA
Race and competition entry fees benefit listed
Nautilus Marine
Tournament / Yacht Racing Fee $2,000 (Boat PDS)
Youi
Not published in the PDS
GIO
Not published
QBE
Not published in the 2021 PDS
Suncorp
Not published
CGU
Not specifically published
RAC
Not explicitly published
RACV
Not specifically surfaced
New Wave Marine
Not specifically surfaced
Pantaenius
Not specifically surfaced

Lifetime repairs guarantee

Club Marine
Not branded as a 'lifetime' guarantee in the PDS
NRMA
Lifetime guarantee on authorised repairs while you own the boat (PDS p.13)
Nautilus Marine
Not a published guarantee in any of the 3 PDSes
Youi
Quality Guarantee on Youi-arranged repairs for as long as you own the watercraft (PDS p.52)
GIO
Not published explicitly in the PDS extract (Suncorp Group standard practice for authorised repairs typically applies; confirm at quote)
QBE
Not specifically published in the 2021 PDS extract
Suncorp
Not published explicitly in the PDS extract
CGU
Not specifically published in the PDS extract
RAC
Not explicitly published
RACV
Not specifically published in audit
New Wave Marine
Not surfaced in audit
Pantaenius
Not surfaced

Lay-up cover

Club Marine
Lay-up sections referenced; geographic limits adjust during lay-up
NRMA
Optional lay-up cover (period shown on Certificate; no fixed 12-month cap visible in PDS)
Nautilus Marine
Not a published headline benefit
Youi
Not published as a headline benefit
GIO
Not published as a headline benefit
QBE
Optional Lay-up reduced cover — dry-stored or trailer at Schedule address with anti-theft device; not available for moored vessels (PDS p.23)
Suncorp
Optional Lay-up period cover available (Comprehensive only) for periods when the boat is laid up on trailer or dry storage
CGU
Optional Lay-up period cover available for premium discount when the boat is stored and not used
RAC
Not explicitly published
RACV
Not specifically published in audit
New Wave Marine
Section 3.6 — No Excess for Securely Moored or Stored Boat
Pantaenius
Not specifically published

PWC / jet ski cover under same product

Club Marine
YES - Pleasure Craft PDS covers PWC up to 70 knots; new PWC replacement within 2 years
NRMA
NO - Watercraft TMD explicitly excludes PWC from this product
Nautilus Marine
NO - PWC is on a separate Personal Watercraft Insurance PDS
Youi
YES — jet skis, wind surfers and paddle craft all covered on the same Watercraft Insurance PDS
GIO
NO — GIO PDS makes NO reference to PWC, jet skis or personal watercraft; product is designed for boats only
QBE
YES, but with hard caveats — theft cover conditional on professional anti-theft device and locked storage; HARD EXCLUSION for liability when operator is under 25 (PDS p.30)
Suncorp
NO — Suncorp PDS makes NO reference to PWC, jet skis or personal watercraft; product is designed for boats only
CGU
YES — covered for theft with conditional storage (locked garage + visible forced entry, or trailer with commercial anti-theft device). MATERIALLY DIFFERENT from sister-brand NRMA which excludes PWC via TMD tmdbo003 despite sharing CGU's underwriter (Insurance Australia Limited).
RAC
NO — not explicitly addressed in PDS; product designed for boats
RACV
NOT covered on boat PDS
New Wave Marine
YES — Personal Watercraft covered with specific conditions in Section 5
Pantaenius
NO — jet skis EXPLICITLY EXCLUDED from the tender definition in both All Risk and Prime PDSes

Substitute / temporary replacement boat

Club Marine
Temporary cover for a replacement boat included
NRMA
Temporary cover for a replacement boat included
Nautilus Marine
Not a published headline benefit
Youi
Temporary Replacement Watercraft up to $75,000 for 14 days (Comprehensive only)
GIO
Temporary cover for a replacement boat included for up to 14 days after the old boat is sold or disposed of
QBE
Substitute vessel legal liability cover included when you have permission from substitute vessel's owner and your own vessel isn't being used simultaneously (PDS p.24)
Suncorp
Temporary cover for a replacement boat included for up to 14 days after the old boat is sold or disposed of
CGU
Substitute boat legal liability covered when operator has owner permission and primary boat is not simultaneously in use
RAC
14-day auto-cover for newly purchased boats pending notification
RACV
Up to 14 days cover when you change boats
New Wave Marine
Check Section 5 Additional Costs
Pantaenius
Check Schedule

Personal accident

Club Marine
Section 3 - cover for Injury to an Insured Person
NRMA
Personal Accident cover included
Nautilus Marine
Personal Accident covered (amounts per Certificate)
Youi
Accidental Personal Injury and Death up to $5,000 per person ($10,000 aggregate for total permanent disability)
GIO
Fatal injury benefit of $5,000 — paid if the owner is killed in an incident that also damaged the insured boat (PDS p.33)
QBE
$25,000 for death or permanent total disablement; $250/week for up to 100 weeks for temporary total disablement (PDS p.21)
Suncorp
Fatal injury benefit of $5,000 — paid if the owner is killed in an incident that also damaged the insured boat
CGU
$25,000 for death or permanent total disablement; $250 per week for up to 52 weeks temporary total disablement; $1,000 ambulance transport (PDS p.8)
RAC
Not specifically surfaced in extract
RACV
Not specifically surfaced in audit
New Wave Marine
Section 4 — Cover for Personal Injury to You
Pantaenius
Section C — Personal Accident cover underwritten SEPARATELY by Chubb Insurance Australia Limited (AFSL 239687). Sum Insured on Schedule.

Exclusions

What's not covered — key PDS exclusions

Wear and tear / corrosion / electrolysis / osmosis

Club Marine
Excluded (General Exclusions p.27-28)
NRMA
Excluded (depreciation, faulty workmanship)
Nautilus Marine
Excluded - explicit list in Boat PDS exclusions
Youi
Excluded (General Exclusions)
GIO
Excluded (Things We Don’t Cover, PDS pp.19-26)
QBE
Excluded (General Exclusions)
Suncorp
Excluded (Things We Don't Cover)
CGU
Excluded (Exclusions section pp.15-23)
RAC
Excluded (General Exclusions)
RACV
Excluded (General Exclusions)
New Wave Marine
Excluded (standard marine exclusions)
Pantaenius
Excluded (standard marine exclusions)

Mechanical / electrical / electronic breakdown

Club Marine
Excluded except where caused by an external Incident covered by the Policy
NRMA
Excluded - 'Mechanical, structural, electrical, hydraulic or electronic breakdown'
Nautilus Marine
Excluded unless caused by a covered Mishap
Youi
Excluded unless caused by an insured event
GIO
Excluded — SPDS 2022 expanded the exclusion to cover contaminated-fuel motor damage, wiring burn-out, and electrical failure (fire damage resulting from electrical breakdown remains covered)
QBE
Excluded unless caused by an insured event
Suncorp
Excluded — SPDS 2022 expanded the exclusion to cover contaminated-fuel motor damage, wiring burn-out, and electrical failure (fire damage resulting from electrical breakdown remains covered)
CGU
Excluded unless caused by an insured event
RAC
Excluded unless caused by an insured event
RACV
Excluded unless caused by insured event
New Wave Marine
Excluded — specific Pre-existing Defect Terms apply
Pantaenius
Excluded per standard marine cover; lightning partial loss limited to 15% Agreed Fixed Amount (All Risk) or 10% Sum Insured (Prime)

Lack of seaworthiness / inadequate maintenance

Club Marine
Excluded - vessel must be kept seaworthy
NRMA
Excluded - boat must be structurally sound and seaworthy
Nautilus Marine
Excluded - failure to maintain in good order
Youi
Excluded — the watercraft must be well-maintained, watertight, seaworthy and roadworthy (TMD)
GIO
Excluded
QBE
Excluded — "Sinking of an unseaworthy vessel" explicitly listed under Accidental sinking
Suncorp
Excluded
CGU
Excluded
RAC
Excluded
RACV
Excluded
New Wave Marine
Excluded
Pantaenius
Excluded

Operator unlicensed / under the influence

Club Marine
Excluded - no cover under control of unlicensed/intoxicated person, or person previously refused insurance
NRMA
Excluded - unlicensed, disqualified, suspended, or over the legal alcohol/drug limit
Nautilus Marine
Excluded - unlicensed operator, intoxication, or inadequate experience
Youi
Excluded — operator must hold a valid licence where required by law; under-the-influence operation excluded
GIO
Excluded — including licences that are cancelled, suspended or disqualified; under-the-influence operation excluded
QBE
Excluded; also PWC operator under 25 is a HARD liability exclusion
Suncorp
Excluded
CGU
Excluded
RAC
Excluded
RACV
Excluded
New Wave Marine
Excluded
Pantaenius
Excluded

Speed cap on the hull

Club Marine
PWC speed cap of 70 knots; non-PWC speed cap is whatever is shown on the Schedule
NRMA
Excluded if boat capable of >60 knots (TMD also excludes any vessel capable of >60 knots)
Nautilus Marine
Standard exclusions on racing/speed tests beyond approved limits
Youi
No explicit speed cap published; professional racing excluded
GIO
No explicit hull speed cap published
QBE
Tender capable of >20 knots excluded unless specifically agreed (PDS p.14). No overall hull speed cap published.
Suncorp
No explicit hull speed cap published
CGU
No explicit hull speed cap published; power boat racing excluded unless via Power Boat Association time trials (25 knot cap)
RAC
Not explicitly published
RACV
Not explicitly published
New Wave Marine
Not explicitly published
Pantaenius
Not explicitly published

Racing without approval

Club Marine
Yacht racing within 150 nm allowed as standard; powerboat racing/speed tests excluded unless agreed in writing
NRMA
Racing beyond 25 nm only with optional Racing Risk Extension; >50 nm not covered
Nautilus Marine
Sailboat racing >100 nm excluded unless specifically extended; PWC racing excluded unless approved
Youi
Social Sailboat Racing up to 100 nm is OPTIONAL on Comprehensive; professional racing excluded; PWC racing excluded
GIO
Power boat racing excluded in all forms (PDS p.22). Sailing race cover available ONLY via Optional Cover for Sailing Boats when Racing, capped at 100 nm.
QBE
Racing only covered via Racing optional benefits (Comprehensive or Third Party Only, each capped at 200 nm event). Power boat racing only via Power Boat Association time trials optional (25-knot max)
Suncorp
Power boat racing excluded in all forms. Sailing race cover available ONLY via Optional Cover for Sailing Boats when Racing, capped at 100 nm.
CGU
Social yacht racing included standard (50 nm, no spinnakers). Beyond that requires Yacht Racing Risk Extension. Power boat racing only via Power Boat Association time trials (25 knot max).
RAC
Power boat racing excluded in all forms; sailboat racing requires optional Sail boats when racing cover
RACV
Sailboat racing covered standard; power boat racing likely excluded
New Wave Marine
Yacht racing covered with specific structure; check Sections 2 + 5
Pantaenius
Motorboat racing EXCLUDED. Sailboat racing covered per Schedule, beyond 250 nm requires specific entry.

Use outside the geographic limits

Club Marine
Excluded beyond 250 nm of Australian mainland & Tasmania (with limited unforeseen-emergency tolerance)
NRMA
Excluded beyond 200 nm of Australian mainland or Tasmania, or outside Australia
Nautilus Marine
Excluded beyond 250 nm of Australian mainland & Tasmania (Boat/Premium); PWC limited to Australian waters
Youi
Excluded beyond 200 nm of the Australian mainland
GIO
Excluded beyond 200 nm of Australian mainland and Tasmania (PDS p.16)
QBE
Excluded beyond 200 nautical miles offshore of Australian mainland or Tasmania coastal/inland waters
Suncorp
Excluded beyond 200 nm of Australian mainland and Tasmania
CGU
Excluded beyond 200 nm (moored: from home port; trailer boats: from last launch location)
RAC
Excluded beyond 200 nm of Australian mainland and Tasmania
RACV
Excluded beyond 200 nm of Australian mainland and Tasmania
New Wave Marine
Lloyd's product: 250 nautical miles off mainland Australia or Tasmania
Pantaenius
Covered area on Schedule; international cover available (Pantaenius operates in 11 countries)

Commercial use / hire / charter / rideshare

Club Marine
Excluded unless explicitly endorsed
NRMA
Excluded - private recreational use only per TMD
Nautilus Marine
Excluded unless specifically approved
Youi
Excluded — private, personal use only (TMD p.02)
GIO
Excluded — product designed for private recreational use
QBE
Excluded — product designed for private recreational "pleasure craft"
Suncorp
Excluded — TMD restricts to private recreational use only
CGU
Excluded — product designed for private recreational use
RAC
Excluded — private recreational use
RACV
Excluded — private recreational use
New Wave Marine
Typically excluded for Comprehensive cover
Pantaenius
Boat shows and third party commercial purposes EXCLUDED from Third Party Liability

Sails damaged by wind/water/crew error

Club Marine
Excluded unless connected to collision/grounding/total loss event
NRMA
Standard exclusion
Nautilus Marine
Standard exclusion (Boat PDS)
Youi
Excluded unless the same insured event also caused structural damage to the hull, booms, masts or rigging
GIO
Excluded unless the same incident also caused structural damage to other parts of the boat
QBE
Excluded unless the same incident also damaged the masts, spars or vessel hull
Suncorp
Excluded unless the same incident also caused structural damage to other parts of the boat
CGU
Excluded by default; covered via optional Yacht Racing Risk Extension which removes the accidental damage exclusion for yacht racing
RAC
Subject to standard racing/sail exclusions
RACV
Standard marine exclusions
New Wave Marine
Standard marine exclusions; racing wording in Yacht Racing section
Pantaenius
Check All Risk / Prime wording at §3; partial loss caused by lightning caps apply

Standing rigging older than 10 years

Club Marine
EXCLUDED unless agreed in writing - this is a hard PDS clause and a major underwriting trigger for older yachts
NRMA
Not specifically called out
Nautilus Marine
Standard exclusion family applies
Youi
Not specifically called out in the PDS
GIO
Not specifically called out in the PDS
QBE
Not specifically called out
Suncorp
Not specifically called out
CGU
Not specifically called out
RAC
Not specifically called out
RACV
Not specifically called out
New Wave Marine
Not specifically called out
Pantaenius
Not specifically called out

Theft by people the insured has entrusted the boat to

Club Marine
Excluded
NRMA
Excluded - 'theft with consent'
Nautilus Marine
Excluded - theft with permission/consent
Youi
Excluded
GIO
Excluded
QBE
Excluded
Suncorp
Excluded
CGU
Excluded
RAC
Excluded
RACV
Excluded
New Wave Marine
Excluded
Pantaenius
Excluded

Use of incorrect / contaminated / incompatible fuel

Club Marine
Excluded under General Exclusions
NRMA
Excluded explicitly
Nautilus Marine
Excluded under General Exclusions
Youi
Excluded (General Exclusions)
GIO
EXPRESSLY EXCLUDED — SPDS 2022 reworded this exclusion to cover contaminated fuel and any fuel/fluid other than the manufacturer-recommended type
QBE
Excluded under General Exclusions
Suncorp
EXPRESSLY EXCLUDED — SPDS 2022 reworded this exclusion to cover contaminated fuel and any fuel/fluid other than manufacturer-recommended
CGU
Excluded under General Exclusions
RAC
Excluded (General Exclusions)
RACV
Excluded
New Wave Marine
Excluded
Pantaenius
Excluded

Theft of unsecured trailer + boat

Club Marine
Subject to theft precautions in PDS p.11
NRMA
Carries an additional excess: greater of basic excess or $1,000
Nautilus Marine
Subject to standard theft excess
Youi
Subject to standard theft precautions; no headline additional excess published
GIO
Subject to minimum security precautions (PDS p.25-26); claim may be reduced or refused if these are not met
QBE
PWC-specific theft conditions require locked-garage storage with visible forced entry OR trailer with professional anti-theft device (Klampit/Hitchhelmet/Trailercop/TrojanSentry/braided steel cable). Chains and padlocks do NOT qualify (PDS p.14).
Suncorp
Subject to minimum security precautions; claim may be reduced or refused if these are not met
CGU
Conditional — theft only covered if stored with commercial anti-theft immobilisation device on trailer, or in locked garage/yard with visible forced entry
RAC
Subject to minimum security precautions
RACV
Subject to minimum security precautions
New Wave Marine
Subject to security precautions
Pantaenius
Subject to security precautions

LP gas not professionally installed/serviced

Club Marine
Excluded if non-compliant
NRMA
Not specifically called out
Nautilus Marine
Standard exclusion
Youi
Not specifically called out in the PDS
GIO
Not specifically called out in the PDS
QBE
Not specifically called out
Suncorp
Not specifically called out
CGU
Not specifically called out
RAC
Not specifically called out
RACV
Not specifically called out
New Wave Marine
Not specifically called out
Pantaenius
Not specifically called out

Pollution outside specifically covered fuel/lubricant scenarios

Club Marine
General pollution exclusion except as specifically covered
NRMA
General pollution exclusion except the $250,000 clean-up benefit
Nautilus Marine
General pollution exclusion except fuel discharge
Youi
General pollution exclusion except the $250,000 sub-limit within General Liability
GIO
General pollution exclusion except the $250,000 sub-limit within the $10M liability cap
QBE
General pollution exclusion except for the sudden and accidental discharge sub-limit ($500K) within legal liability, and the $20K Clean Up Costs benefit
Suncorp
General pollution exclusion except the $250,000 sub-limit within the $10M liability cap
CGU
General pollution exclusion except the accidental discharge of fuel/petroleum/lubricants/effluent/sewage scenarios
RAC
General pollution exclusion
RACV
General pollution exclusion
New Wave Marine
General pollution exclusion
Pantaenius
General pollution exclusion

Communicable disease / pandemic

Club Marine
Excluded explicitly
NRMA
Excluded explicitly
Nautilus Marine
Standard general exclusion
Youi
Excluded (General Exclusions)
GIO
Excluded (General Exclusions)
QBE
Excluded (General Exclusions) — "Any claims caused by or arising from the transmission of a disease, illness or sickness while using your vessel"
Suncorp
Excluded (General Exclusions)
CGU
Legal liability for disease transmitted by the insured or operator excluded (PDS p.11)
RAC
Standard exclusion
RACV
Standard exclusion
New Wave Marine
Standard exclusion
Pantaenius
Standard exclusion

War / terrorism / nuclear / radioactive

Club Marine
Excluded - General Exclusions
NRMA
Excluded - General Exclusions
Nautilus Marine
Excluded - General Exclusions
Youi
Excluded (General Exclusions)
GIO
Excluded (General Exclusions)
QBE
Excluded (General Exclusions)
Suncorp
Excluded (General Exclusions)
CGU
Excluded (General Exclusions)
RAC
Excluded
RACV
Excluded
New Wave Marine
Excluded
Pantaenius
War, Strikes and Political Acts excluded

Boat registered or flagged outside Australia

Club Marine
Excluded
NRMA
Excluded - Australian use only
Nautilus Marine
Excluded - geographic limits
Youi
Excluded — Northern Territory storage also excluded (TMD p.03)
GIO
Excluded — geographic limit is Australia only
QBE
Excluded — "when you use your vessel outside Australian waters"
Suncorp
Excluded — geographic limit is Australia only
CGU
Excluded — geographic limit is Australia only
RAC
Excluded — Australian operation only
RACV
Excluded
New Wave Marine
Excluded beyond specified geographic limits
Pantaenius
International cover available for Australian-registered vessels per Schedule

Mooring used by the boat

Club Marine
Excluded if not suitable, sited, statutorily compliant or annually maintained by a professional
NRMA
Loss to mooring excluded
Nautilus Marine
Improper mooring excluded
Youi
Product NOT suitable if the mooring is unregistered, unsuitable for the watercraft, or in poor condition or placement (TMD p.03)
GIO
Cover may be reduced or refused if mooring does not meet minimum precautions; specific mooring-condition exclusions typically formalised in the TMD
QBE
Loss of or damage to moorings excluded (PDS p.28)
Suncorp
TMD EXPLICITLY EXCLUDES "a boat that is moored in water" — Suncorp Boat Insurance is for trailered boats only (TMD p.3)
CGU
Moored boats covered subject to 200 nm from home port — mooring itself not covered
RAC
Standard exclusions
RACV
Standard exclusions
New Wave Marine
Subject to Section 3.6 storage conditions
Pantaenius
Subject to mooring standards

PWC water ingress without external impact

Club Marine
Excess of $5,000 (instead of basic excess) where there is no evidence of external damage
NRMA
N/A - PWC not covered
Nautilus Marine
PWC PDS - subject to standard excess; Boat PDS does not cover PWC
Youi
Not specifically published
GIO
N/A — GIO does not cover PWC
QBE
Not specifically published
Suncorp
N/A — Suncorp does not cover PWC
CGU
Not specifically published
RAC
N/A — RAC does not explicitly cover PWC
RACV
N/A — RACV does not cover PWC
New Wave Marine
PWC-specific conditions in Section 5
Pantaenius
N/A — Pantaenius does not cover jet skis

Excess Structure

Basic, conditional and apportioned excesses

Basic excess

Club Marine
Set on Schedule at policy issue. Higher excess option = lower premium. Insurer offers a range; PDS does not publish a fixed dollar.
NRMA
Set on Certificate of Insurance based on boat type, make, model and location
Nautilus Marine
Set on Certificate of Insurance for each PDS - amount varies by boat / use
Youi
Set on your policy schedule at quote stage; owner can elect a higher excess for a lower premium
GIO
Set on Certificate of Insurance at quote stage; owner can elect a higher excess for a lower premium
QBE
Set on Policy Schedule at quote stage
Suncorp
Set on Certificate of Insurance at quote stage
CGU
Set on Certificate/Schedule at quote stage
RAC
Set on Certificate/Schedule at quote
RACV
Set on Certificate at quote
New Wave Marine
Set on Policy Schedule at quote
Pantaenius
Set on Policy Schedule per product tier

Driver / operator under 25

Club Marine
PWC only: $450 in addition to the basic excess (PDS p.34)
NRMA
Undisclosed driver age excess applies if driver under 25 not listed on Certificate (amount on Certificate)
Nautilus Marine
Standard excess applies; no headline 'under 25' age excess in the PDS extract
Youi
No headline under-25 excess published in the PDS extract
GIO
Undisclosed driver age loading may apply if a driver under 25 is not listed on the Certificate
QBE
PWC operator under 25 is a HARD liability exclusion (no excess applies — cover simply does not apply)
Suncorp
Undisclosed driver age loading may apply if a driver under 25 is not listed on the Certificate
CGU
Not specifically published as a separate excess in the PDS extract
RAC
Not separately published
RACV
Not separately published
New Wave Marine
Not separately published in extract
Pantaenius
Not separately published

Theft excess

Club Marine
PWC theft excess applies; waived if recovered undamaged
NRMA
Higher of basic excess or $1,000 if trailer was unsecured at time of theft. Otherwise waived for theft / vandalism.
Nautilus Marine
Standard excess applies
Youi
Standard basic excess applies
GIO
Standard basic excess applies
QBE
Standard basic excess applies; PWC theft subject to strict anti-theft storage conditions
Suncorp
Standard basic excess applies
CGU
Standard basic excess applies; theft subject to storage conditions
RAC
Standard basic excess
RACV
Standard basic excess
New Wave Marine
Standard basic excess + Section 3.6 no-excess for securely moored/stored boat
Pantaenius
Standard basic excess

Named storm / cyclone / named-event excess

Club Marine
Not separately published; lay-up sections affect Section 2/3 cover
NRMA
Not separately published in the extracted PED
Nautilus Marine
$5,000 OR 5% of total claim, whichever is GREATER (waived if boat is on its own trailer with reasonable protection)
Youi
Not separately published
GIO
Not separately published
QBE
Not separately published
Suncorp
Not separately published
CGU
Not separately published
RAC
Not separately published
RACV
Not separately published
New Wave Marine
Section 3.5 Special Cyclone Excess
Pantaenius
Lightning partial loss capped (15% Agreed Fixed Amount / 10% Sum Insured); cyclone excess on Schedule

Submersion of trailerable boat

Club Marine
Subject to standard exclusions/excess
NRMA
Not separately published
Nautilus Marine
$2,000 - applies only when a trailerable boat is left moored unsupervised >24 hours
Youi
Not separately published
GIO
Not separately published
QBE
Not separately published
Suncorp
Not separately published
CGU
Not separately published
RAC
Not separately published
RACV
Not separately published
New Wave Marine
Not separately published
Pantaenius
Not separately published

Racing excess

Club Marine
Standard excess; powerboat racing/speed tests need written agreement which 'may require a variation to the standard Excess'
NRMA
Higher of basic excess OR 25% of repair/replacement cost - applies to Racing Risk Extension claims
Nautilus Marine
Standard excess applies
Youi
Social Sailboat Racing Optional Cover — standard basic excess applies to a race-event claim
GIO
Sailing race Optional Cover — subject to standard basic excess
QBE
Racing optional benefits — subject to standard basic excess
Suncorp
Sailing race Optional Cover — subject to standard basic excess
CGU
Standard excess applies to racing claims; Yacht Racing Risk Extension subject to standard excess
RAC
Subject to standard excess; optional racing cover required
RACV
Standard excess on racing claims (sailboat racing included as standard)
New Wave Marine
Standard excess on Yacht Racing Risks claims
Pantaenius
Standard excess on sailboat racing; motorboat racing excluded

Single-vehicle / no third-party / at-fault discount

Club Marine
Nil Pen Excess waiver; No Fault Excess Waiver applies for documented at-fault third party
NRMA
No excess if proof of identifiable at-fault third party with full details
Nautilus Marine
Premium PDS: NIL excess if third party identified by name/address/phone/insurance
Youi
Not specifically published
GIO
Not specifically published
QBE
Not specifically published
Suncorp
Not specifically published
CGU
Not specifically published
RAC
Not specifically published
RACV
Not specifically published
New Wave Marine
Not specifically published
Pantaenius
Not specifically published

Personal effects / water sports equipment

Club Marine
Standard apportioned excesses available
NRMA
Subject to basic excess unless waived
Nautilus Marine
Premium PDS: $200 sub-excess per category for Personal Effects / Water Sports Equipment / Equipment & Accessories; $500 sub-excess for wine/alcohol
Youi
Subject to standard basic excess
GIO
Subject to standard basic excess
QBE
Subject to standard basic excess; water ski equipment while in use excluded
Suncorp
Subject to standard basic excess
CGU
Subject to standard excess; water ski equipment in use excluded
RAC
Subject to standard excess
RACV
Standard excess if Contents option taken out
New Wave Marine
Standard excess under Section 2
Pantaenius
Standard excess

Tender-only loss

Club Marine
Subject to basic excess
NRMA
Tender included in Sum Insured; basic excess applies
Nautilus Marine
Premium PDS: NIL excess for Tender-only loss
Youi
Tender covered at lesser of market value or $3,000; subject to standard excess
GIO
Tender covered within the Boat definition on the Certificate — subject to standard excess
QBE
Tender capable of >20 knots excluded unless specifically agreed; otherwise subject to basic excess
Suncorp
Tender covered within the Boat definition on the Certificate — subject to standard excess
CGU
Tender covered within the Boat definition; tenders >20 knots require specific agreement
RAC
Standard excess
RACV
Standard excess
New Wave Marine
Subject to standard excess
Pantaenius
Tender covered (excluding jet skis) — standard excess

Boat at usual berth (moored)

Club Marine
Subject to basic excess
NRMA
Subject to basic excess
Nautilus Marine
Premium PDS: NIL excess while berthed at the usual berth shown on Certificate
Youi
Subject to standard basic excess
GIO
Subject to standard basic excess
QBE
Subject to standard basic excess
Suncorp
N/A — TMD excludes moored boats from the product entirely
CGU
Subject to standard excess
RAC
Standard excess
RACV
Standard excess
New Wave Marine
No Excess for Securely Moored or Stored Boat (Section 3.6)
Pantaenius
Standard excess

PWC water ingress without external impact

Club Marine
$5,000 (instead of basic excess) where there is no evidence of external damage
NRMA
N/A - PWC not covered
Nautilus Marine
Boat PDS does not cover PWC; PWC PDS subject to standard excess
Youi
Not specifically published
GIO
N/A — GIO does not cover PWC
QBE
Not specifically published
Suncorp
N/A — Suncorp does not cover PWC
CGU
Not specifically published
RAC
N/A
RACV
N/A
New Wave Marine
Check Section 5 PWC-specific conditions
Pantaenius
N/A

Claims & Cooling

Claims contacts, process and cooling-off

Claims phone

Club Marine
1300 00 CLUB (1300 00 2582)
NRMA
131 123
Nautilus Marine
1300 996 110 (Nautilus / NM Insurance)
Youi
13 YOUI (13 9684)
GIO
13 14 46 (24/7)
QBE
133 723 (24/7)
Suncorp
13 25 24 (24/7)
CGU
13 24 80
RAC
13 17 03
RACV
13 RACV (13 7228)
New Wave Marine
Via Hiller Marine / New Wave Marine — check newwavemarine.com.au
Pantaenius
+61 (02) 9936 1670 (Sydney) / +61 (07) 5649 6622 (Gold Coast)

General enquiries phone

Club Marine
1300 00 CLUB (1300 00 2582)
NRMA
132 132
Nautilus Marine
1300 780 533
Youi
13 YOUI (13 9684)
GIO
13 10 10
QBE
133 723 / enquiries@qbe.com
Suncorp
13 11 55
CGU
13 24 81
RAC
13 17 03
RACV
13 RACV (13 7228)
New Wave Marine
Via Hiller Marine / New Wave Marine
Pantaenius
+61 (02) 9936 1670

Cooling-off period

Club Marine
14 days from policy issue / each renewal
NRMA
21 days from policy issue / each renewal
Nautilus Marine
21 days from policy issue (consistent across Boat / Premium / PWC PDSes)
Youi
20 days from policy issue or each renewal
GIO
21 days from the policy start date
QBE
21 days from the policy start or renewal date
Suncorp
21 days from the policy start date
CGU
21 days from cover commencement
RAC
Not surfaced in audit — confirm (assume 21 days Australian standard)
RACV
21 days from cover commencement
New Wave Marine
21 days from policy issue and on each renewal (both products)
Pantaenius
Not surfaced in audit — likely 21 days (Australian standard); confirm

Choice of repairer

Club Marine
PARTIAL - 'You may choose the repairer of Your Boat, but if You do: We may request that You take it to another repairer'. Insurer can redirect.
NRMA
PARTIAL - NRMA selects repairer and method; will help find a 'most convenient' repairer for the customer.
Nautilus Marine
NOT FOUND in any of the 3 Nautilus PDS files. Use of 'professional repairer' only appears in negligence-coverage clauses.
Youi
Not explicit — Quality Guarantee applies only to Youi-arranged repairs (PDS p.52), implying an insurer-arranged model. Customers can request a repairer subject to Youi approval.
GIO
Not explicitly published in the PDS; Suncorp Group standard model uses insurer-authorised repairers with a workmanship guarantee
QBE
Not explicitly addressed in the PDS extract — confirm at quote stage
Suncorp
Not explicitly published in the PDS; Suncorp Group standard model uses insurer-authorised repairers with a workmanship guarantee
CGU
Not explicitly addressed in PDS extract. Confirm at quote stage.
RAC
Not explicitly published
RACV
Not explicitly published in audit extract
New Wave Marine
Not explicitly addressed in audit extract
Pantaenius
Specialist yacht repair network via Pantaenius

How a claim is settled

Club Marine
Insurer's discretion: repair, cash settlement, or replacement at Market or Agreed Value (where Agreed Value specified on Schedule)
NRMA
Repair (insurer chooses repairer & method); Pay reasonable cost of repairs; Pay Market Value (lifetime repair guarantee benefit only); Pay Agreed Value on Total Loss
Nautilus Marine
Per Boat & Premium PDS: insurer may repair, replace or pay cash. Subrogation rights apply. Premium PDS distinguishes Sum Insured vs market-value/repair-cost for equipment.
Youi
Youi’s discretion: repair, replace or cash-settle at the lesser of market value or the component Insured Value; New Watercraft Replacement pays up to insured value + 20% for total losses in the first 24 months of new registration
GIO
Insurer repairs or pays up to the amount covered on the Certificate. Post-SPDS 2022, Boat Contents and Additional Covers (Emergency expenses, Emergency travel costs, Rescue expenses, Additional cover for boat contents) are CASH-SETTLED ONLY — no in-kind repair or replacement.
QBE
Pay the sum insured if the vessel is a total loss. For additional benefits (clean-up, wreck removal, personal effects, personal accident), payments are in addition to the sum insured.
Suncorp
Insurer repairs or pays up to the amount covered on the Certificate. Post-SPDS 2022, Boat Contents and Additional Covers (Emergency expenses, Emergency travel costs, Rescue expenses, Additional cover for boat contents) are CASH-SETTLED ONLY.
CGU
CGU may repair, replace or cash-settle. For Agreed Value policies, settlement is with reference to the Agreed Value sum insured; for Market Value (default), settlement is up to the current market value ceiling on the Schedule.
RAC
RAC may repair, replace or pay the Agreed Value. Settlement up to the Agreed Value on total loss.
RACV
Pay reasonable cost of repairs or pay the Agreed Value on Total Loss
New Wave Marine
BHSI or Lloyd's depending on product chosen; Hiller Marine administers claim interface; settlement per Sections 1-5 of each PDS
Pantaenius
All Risk: pays up to Agreed Fixed Amount on Total/Constructive Total Loss. Prime: pays up to the lesser of Market Value or Sum Insured.

What to do at the time of an incident

Club Marine
Take reasonable steps to prevent further damage; contact Club Marine before authorising repairs; obtain written quote; report theft/vandalism to police
NRMA
Stop if injury; prevent further loss; report to police if required; take details of all parties; call NRMA; do not admit liability
Nautilus Marine
Take reasonable steps to prevent further loss; contact Nautilus on 1300 996 110; do not admit liability; cooperate with claims handler
Youi
Take reasonable steps to prevent further loss; contact Youi on 13 YOUI; do not admit liability; cooperate with the claim handler
GIO
Take reasonable steps to prevent further damage; contact GIO on 13 14 46 (24/7); do not carry out or authorise repairs without consent (except emergency repairs); cooperate with claim handler and any appointed experts
QBE
Take reasonable steps to prevent further damage; contact QBE on 133 723; cooperate with any appointed surveyor or salvage provider
Suncorp
Take reasonable steps to prevent further damage; contact Suncorp on 13 25 24 (24/7); cooperate with claim handler and any appointed experts
CGU
Take reasonable steps to prevent further damage; contact CGU; cooperate with any appointed experts; do not authorise repairs without consent except emergency repairs
RAC
Contact RAC; take reasonable steps to prevent further loss; cooperate with claim handler
RACV
Contact RACV; seek agreement before incurring out-of-pocket expenses (SPDS 2023 amendment)
New Wave Marine
Contact Hiller Marine / New Wave Marine; take reasonable steps to prevent further loss; cooperate with appointed assessor
Pantaenius
Contact Pantaenius Australia; cooperate with appointed surveyor/salvage provider

Insurer-appointed assessor

Club Marine
Insurer 'may inspect at reasonable times' - choice of repairer is conditional
NRMA
Yes - NRMA assesses and chooses the repair method
Nautilus Marine
Yes - NM Insurance handles claims directly under binding authority
Youi
Yes — Youi handles claims directly as the self-underwriter
GIO
Yes — AAI Limited (Suncorp Group) claims assessors
QBE
Yes — QBE claims assessor; surveyor/salvage provider appointed for total-loss scenarios
Suncorp
Yes — AAI Limited (Suncorp Group) claims assessors; same infrastructure as GIO, AAMI, Apia
CGU
Yes — IAG Group / Insurance Australia Limited claims assessors
RAC
Yes — RAC Insurance (self-underwriter)
RACV
Yes — IMA (Insurance Australia Group) claims assessors
New Wave Marine
Yes — via BHSI or Lloyd's depending on product
Pantaenius
Yes — Pantaenius coordinates with the underwriters

Cancellation after cooling-off

Club Marine
Cancellable any time by phone; pro-rata refund less applicable adjustments
NRMA
Cancellable; refund pro-rated minus any applicable administration fee
Nautilus Marine
Cancellable; pro-rated refund of premium less unrecoverable taxes/duties
Youi
Cancellable any time; pro-rated refund of premium less any applicable administration fee
GIO
Cancellable any time; refund pro-rated less any applicable administration fee
QBE
Cancellable any time; refund pro-rated less any applicable administration fee
Suncorp
Cancellable any time; refund pro-rated less any applicable administration fee
CGU
Cancellable any time; refund pro-rated
RAC
Cancellable; refund pro-rated
RACV
Cancellable; refund pro-rated
New Wave Marine
Cancellable; refund pro-rated
Pantaenius
Cancellable; refund pro-rated

Underwriter pays the claim

Club Marine
Allianz Australia Insurance Limited (AFSL 234708)
NRMA
Insurance Australia Limited (AFSL 227681) trading as NRMA Insurance
Nautilus Marine
Zurich Australian Insurance Limited (ZAIL); claims administered by NM Insurance under binding authority
Youi
Youi Pty Ltd (ABN 79 123 074 733, AFSL 316511) — self-underwriter
GIO
AAI Limited (ABN 48 005 297 807, AFSL 230859) trading as GIO — same underwriter as AAMI, Suncorp Insurance, Apia, Shannons
QBE
QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) — subsidiary of QBE Insurance Group Limited (ASX: QBE)
Suncorp
AAI Limited (ABN 48 005 297 807, AFSL 230859) trading as Suncorp Insurance — same underwriter as GIO, AAMI, Apia, Shannons
CGU
Insurance Australia Limited (ABN 11 000 016 722, AFSL 227681) — same underwriter as NRMA, part of the IAG Group
RAC
RAC Insurance Pty Limited (ABN 59 094 685 882, AFSL 231222) — self-underwriter
RACV
Insurance Manufacturers of Australia (IMA, ABN 93 004 208 084, AFSL 227678) — a subsidiary of Insurance Australia Group
New Wave Marine
Berkshire Hathaway Specialty Insurance Company (BHSI, AFSL 466713) OR Certain Underwriters at Lloyd's — depending on product selected
Pantaenius
Hull/Property: insurers authorised under Insurance Act 1973 (typically Lloyd's syndicates). Personal Accident: Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL 239687).

Internal complaints / IDR

Club Marine
Club Marine internal disputes process; AFCA escalation available
NRMA
NRMA Customer Relations 1800 045 517; AFCA escalation 1800 931 678
Nautilus Marine
Nautilus / NM Insurance internal complaints; AFCA escalation available
Youi
Youi internal complaints process; AFCA escalation available
GIO
GIO internal complaints process; AFCA escalation available
QBE
QBE Customer Care Unit; AFCA escalation available; OAIC for privacy complaints
Suncorp
Suncorp internal complaints process; AFCA escalation available
CGU
CGU internal complaints process; AFCA escalation available
RAC
RAC internal complaints; AFCA escalation available
RACV
RACV complaints; AFCA escalation available
New Wave Marine
Hiller Marine / insurer internal complaints; AFCA and Lloyd's Australia escalation available
Pantaenius
Pantaenius internal complaints; AFCA escalation available

Full Policy Details

Every key policy detail side-by-side, in plain English. The right-hand column cites the exact PDS page so you can verify any figure against the original document.

The Insurer

Brand name

Club Marine
Club Marine Insurance
NRMA
NRMA Boat Insurance
Nautilus Marine
Nautilus Marine Insurance
Youi
Youi Watercraft Insurance
GIO
GIO Boat Insurance
QBE
QBE Pleasure Craft Insurance
Suncorp
Suncorp Boat Insurance
CGU
CGU Boat Insurance (Accidental Damage Boat Insurance)
RAC
RAC Boat Insurance
RACV
RACV Boat Insurance
New Wave Marine
New Wave Marine Boat Insurance (two underwriter variants)
Pantaenius
Pantaenius Australia Sail & Motor Yacht Insurance (All Risk + Prime tiers)
PDS source / note
As printed on the cover page of each insurer's Product Disclosure Statement

Who carries the risk (underwriter)

Club Marine
Allianz Australia Insurance Limited (ABN 15 000 122 850, AFSL 234708)
NRMA
Insurance Australia Limited (ABN 11 000 016 722, AFSL 227681) trading as NRMA Insurance
Nautilus Marine
Zurich Australian Insurance Limited (ZAIL, ABN 13 000 296 640)
Youi
Youi Pty Ltd (ABN 79 123 074 733, AFSL 316511) — Youi is a self-underwriter, not a re-branded wholesale product
GIO
AAI Limited (ABN 48 005 297 807, AFSL 230859) trading as GIO — same underwriter as AAMI, Suncorp Insurance, Apia and Shannons
QBE
QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) — subsidiary of QBE Insurance Group Limited
Suncorp
AAI Limited (ABN 48 005 297 807, AFSL 230859) trading as Suncorp Insurance — same underwriter as GIO, AAMI, Apia and Shannons
CGU
Insurance Australia Limited (ABN 11 000 016 722, AFSL 227681) trading as CGU Insurance — SAME underwriter as NRMA Insurance
RAC
RAC Insurance Pty Limited (ABN 59 094 685 882, AFSL 231222) — self-underwriter, not part of IAG/Suncorp/Allianz/Zurich
RACV
Insurance Manufacturers of Australia Pty Limited (IMA, ABN 93 004 208 084, AFSL 227678) — a subsidiary of Insurance Australia Group Limited (verified on PDS cover)
New Wave Marine
BHSI Product: Berkshire Hathaway Specialty Insurance Company (ABN 84 600 643 034, AFSL 466713). Lloyd's Product: Certain Underwriters at Lloyd's.
Pantaenius
Hull/Property: insurers authorised under Insurance Act 1973 (typically Lloyd's syndicates — specific syndicate on Schedule). Personal Accident (Section C): Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL 239687).
PDS source / note
The "underwriter" is the large, regulated insurance company that is legally obliged to pay out on your claim. You want them to be well-capitalised.

Underwriting agency (if the brand is an agency, not the insurer itself)

Club Marine
Club Marine Limited (ABN 12 007 588 347, AFSL 236916) acts as agent under a binding authority from Allianz Australia
NRMA
Not applicable — NRMA Insurance issues policies directly via Insurance Australia Limited
Nautilus Marine
NM Insurance acts as agent under a binding and claims authority from Zurich Australian Insurance Limited
Youi
Not applicable — Youi sells directly under its own AFSL
GIO
Not applicable — GIO is a brand of AAI Limited; AAI issues policies directly
QBE
Not applicable — QBE Insurance (Australia) Limited issues policies directly
Suncorp
Not applicable — Suncorp is a brand of AAI Limited; AAI issues policies directly
CGU
Not applicable — CGU is a brand of Insurance Australia Limited, which issues policies directly
RAC
RAC Distribution Pty Ltd (ABN 71 092 581 470, Authorised Representative 238025) acts as distributor under binding agreement with RAC Insurance
RACV
RACV Insurance Services Pty Limited (ABN 74 004 131 800, AFSL 230039) — distributes to RACV members
New Wave Marine
Hiller Marine (trading as New Wave Marine) holds binding authority from both BHSI and Lloyd's
Pantaenius
Pantaenius Australia Pty Ltd (ABN 95 148 013 085, AFSL 410502) — insurance agent organising specialist Sail & Motor Yacht Insurance
PDS source / note
Some marine brands are specialist agencies that design, sell and settle the policy on behalf of a larger underwriter. The agency holds its own AFSL. When you contract with an agency, the actual insurer is still the risk carrier named in the row above.

Parent company / corporate group

Club Marine
Allianz Australia (part of the global Allianz SE group)
NRMA
Insurance Australia Group (IAG) — Australia's largest general insurer
Nautilus Marine
Zurich Insurance Group (via Zurich Australian Insurance Limited)
Youi
Youi Holdings (OUTsurance Group, South Africa)
GIO
Suncorp Group (Australian general insurance businesses transferred to AAI Limited on 1 July 2013 under Federal Court order)
QBE
QBE Insurance Group Limited (ABN 28 008 485 014, ASX: QBE) — publicly listed with material operations in Asia-Pacific, Europe and North America
Suncorp
Suncorp Group — ASX-listed Australian Big 4 general insurer
CGU
Insurance Australia Group (IAG) — Australia's largest general insurer by gross written premium, ASX-listed
RAC
RAC Group of Companies (Royal Automobile Club of Western Australia) — WA member-owned motoring organisation
RACV
IAG via IMA subsidiary (same ultimate parent as NRMA and CGU, but different legal subsidiary); distributed by Royal Automobile Club of Victoria
New Wave Marine
BHSI: Berkshire Hathaway group (US-listed Warren Buffett-chaired). Lloyd's: the global specialist insurance market
Pantaenius
Pantaenius group (German-headquartered, established 1899, operations across 11 countries)
PDS source / note
Public corporate disclosures, repeated in PDS welcome pages

Operating in Australia since

Club Marine
1959
NRMA
1925
Nautilus Marine
2005
Youi
2008 (AFSL granted 01 March 2008)
GIO
1925 (Government Insurance Office of New South Wales lineage)
QBE
1886
Suncorp
1902
CGU
1851 (CGU lineage via Commercial & General Union)
RAC
1905 (RAC WA); RAC Insurance operating since 2001
RACV
1903 (RACV)
New Wave Marine
Varies per product
Pantaenius
2012 (Pantaenius Australia); 1899 globally
PDS source / note
Brand histories repeated in About sections on each insurer's website
Cover & Limits

Third-party liability limit (damage to other people or property)

Club Marine
Set on your Policy Schedule at quote stage — Club Marine quotes are typically issued at $10 million for recreational pleasure craft, but the PDS does not publish a fixed minimum
NRMA
$10,000,000, published explicitly in the PDS Definitions (inclusive of GST and all legal costs)
Nautilus Marine
Set on your Certificate of Insurance on the Standard Boat PDS. The Premium Pleasure Craft PDS caps third-party liability at $500,000 per occurrence (inclusive of defence costs, fines and penalties).
Youi
$10,000,000 PUBLISHED in the PDS (p.29) — combined cap for General Liability plus Watersports Liability, inclusive of legal, defence costs and GST. Watersports Liability is only automatically covered if declared at quote stage and noted on the schedule.
GIO
$10,000,000 PUBLISHED in the PDS Key Information box (p.3). Applies to both Comprehensive and Third Party cover tiers. Pollution sub-limit of $250,000 sits INSIDE this $10M cap — not paid in addition.
QBE
SCHEDULE ITEM — set on the Policy Schedule at quote stage (PDS p.24). $10M is the typical retail figure. Pollution sub-limit $500,000 per accident inclusive of legal expenses.
Suncorp
$10,000,000 PUBLISHED in the PDS Key Information box (p.3). Applies to both Comprehensive and Third Party cover tiers. Pollution sub-limit of $250,000 sits INSIDE this $10M cap.
CGU
SCHEDULE ITEM — set on Certificate/Schedule at quote stage (PDS p.10). Typical $10M retail figure but not published in PDS. Different from sister-brand NRMA which publishes $10M.
RAC
$10,000,000 PUBLISHED in the PDS
RACV
$10 million published in the PDS
New Wave Marine
Set on Policy Schedule; typically $10M specialist retail
Pantaenius
Set on Policy Schedule (Section B Third Party Liability). Extends to tenders, water sport equipment, search and rescue, skipper liability.
PDS source / note
Club Marine PDS p.19 "Section 2 Limit of Liability"; NRMA PDS p.10; Nautilus Boat PDS Certificate; Nautilus Premium PDS p.21

How your boat is valued for a total loss

Club Marine
Both Agreed Value and Market Value are available, but the current PDS sets Market Value as the default. Agreed Value must be specifically requested at quote stage and noted on your Schedule.
NRMA
Agreed Value only — the sum insured is locked in at policy start and does not depreciate. No Market Value pathway.
Nautilus Marine
Both Agreed Value and Market Value are available. The Standard Boat PDS treats Market Value as the default. Brand-new boats purchased through a marine dealership automatically get Agreed Value for the first two years, then transition to Market Value at renewal unless you explicitly request Agreed Value with a current valuation.
Youi
Component-based Insured Value — owner sets a schedule amount per hull / outboards / sails / trailer; pay-out is lesser of market value or schedule. New Watercraft Replacement (first 24 months of new registration) pays up to insured value + 20%.
GIO
Agreed Value only — customer nominates an amount covered on the Certificate for hull, motor(s) and trailer, and pay-out is up to that nominated amount. No Market Value pathway.
QBE
BOTH Agreed Value and Market Value available — nominated on the Policy Schedule at quote. Agreed Value is a jointly-agreed fixed sum; Market Value is the depreciated value of the vessel at incident time.
Suncorp
Agreed Value only — customer nominates an amount covered on the Certificate for hull, motor(s) and trailer, and pay-out is up to that nominated amount. No Market Value pathway.
CGU
Market Value default ("this is a current market value policy" per PDS p.47); Agreed Value available on request and nominated on Schedule (PDS p.12). Different from sister-brand NRMA which is Agreed Value only.
RAC
Agreed Value only — RAC determines the boat's agreed value at commencement
RACV
Agreed Value — "the agreed value is the amount we agree to insure your boat for" (PDS p.12)
New Wave Marine
Agreed Value — ceiling capped at 15% above purchase price unless specifically agreed otherwise in writing
Pantaenius
TWO PRODUCTS. All Risk: Agreed Fixed Amount (Sum Insured nominated on Schedule, paid on Total/Constructive Total Loss). Prime: Market Value cover (pays the lesser of Market Value or Sum Insured).
PDS source / note
Club Marine PDS lines 70-86 ("Market Value is the default cover"); NRMA PDS p.12; Nautilus Premium PDS p.6

Personal effects cover (total, e.g. gear, electronics, tackle, clothing)

Club Marine
$30,000 — combined cap covering Personal Effects + Fishing Gear + Water Ski Gear
NRMA
$1,000 — covered as "Contents of Your Boat". Thin for modern fishing boats with serious electronics.
Nautilus Marine
Standard Boat PDS: $10,000 aggregate. Premium Pleasure Craft PDS: $20,000 aggregate.
Youi
$1,000 standard aggregate (Extra Cover: Contents). Optional Contents Upgrade lets the owner nominate a higher Insured Value for on-board equipment.
GIO
$5,000 standard aggregate (Cover for Boat Contents, Additional Cover on Comprehensive). Optional Additional cover for boat contents lets owner nominate a higher aggregate.
QBE
$5,000 aggregate per claim — PAID IN ADDITION to the sum insured, not deducted from it (PDS p.21-22)
Suncorp
$5,000 standard aggregate (Included cover for boat contents, Additional Cover on Comprehensive). Optional Additional cover for boat contents lets owner nominate a higher aggregate.
CGU
$1,000 total aggregate for accessories OR tools OR contents combined (PDS p.3). Can be increased on application.
RAC
Contents treated within Agreed Value framework; per-item specifics on Schedule
RACV
OPTIONAL Contents cover (requires lockable cabin or secure storage) — sum insured on Certificate
New Wave Marine
Section 2 — Personal Effects and Water Sports Equipment
Pantaenius
Equipment + Personal Effects on Schedule; specific caps per PDS
PDS source / note
Club Marine PDS p.17; NRMA PDS p.12; Nautilus Boat PDS Section 1

Personal effects cover per item (the per-item sub-limit)

Club Marine
$3,000 per item
NRMA
No per-item cap is published — the $1,000 aggregate applies
Nautilus Marine
Standard Boat PDS: $1,500 per item. Premium PDS: $2,000 for guests' items, $500 for crew items.
Youi
No per-item sub-split at the $1,000 standard tier. Contents Upgrade caps each item at $1,000 regardless of total.
GIO
$1,000 per item for EPIRB, VHF or HF Radio; $500 per item for other boat contents items
QBE
$500 per item
Suncorp
$1,000 per item for EPIRB, VHF or HF Radio; $500 per item for other boat contents items
CGU
Not explicitly published per-item - the $1,000 aggregate applies
RAC
Not explicitly published per-item
RACV
Set on Certificate if Contents option taken out
New Wave Marine
Set on Schedule
Pantaenius
Set on Schedule
PDS source / note
Same PDS references as the row above

Emergency assistance / accommodation / fuel delivery limit

Club Marine
$10,000 under the Club Care Benefits — includes emergency fuel delivery, return of the vessel to its home port, and temporary accommodation
NRMA
Emergency repairs, emergency transport and accommodation sections all exist in the PDS — specific dollar limits are set on the Certificate of Insurance
Nautilus Marine
Standard Boat PDS: $5,000 Emergency Assistance + $2,000 Repatriation Costs
Youi
$1,000 Emergency Accommodation, Transport and Repairs (Comprehensive + TPFT only; applies only when the incident occurs more than 100 km from the watercraft’s usual location)
GIO
Emergency expenses $5,000 + Emergency travel costs $500 + Road towing costs $1,000 = $6,500 total across three separate Additional Covers (Comprehensive only). Post-SPDS 2022, all cash-settled only.
QBE
Emergency expenses up to the sum insured (Comprehensive only); plus $750 per period of insurance for trailer road towing
Suncorp
Emergency expenses $5,000 + Emergency travel costs $500 + Road towing costs $1,000 = $6,500 total across three separate Additional Covers (Comprehensive only). Post-SPDS 2022, all cash-settled only.
CGU
Emergency repair costs + $500 return home travel + $1,000 temporary accommodation travel + $500 food spoilage. All included in Additional Cover suite.
RAC
$500 return home + $1,000 road towing
RACV
Emergency $5K + Emergency transport and accommodation $1K + Hull inspection $1K + Rescue services $5K = ~$12K bundled
New Wave Marine
Section 5 — Additional Costs and Expenses
Pantaenius
Search and rescue costs under Third Party Liability; emergency scope per Schedule
PDS source / note
Club Marine PDS p.24; NRMA PDS p.12; Nautilus Boat PDS

Pollution clean-up cover (what happens if fuel or sewage spills)

Club Marine
$1,000,000 per incident, inclusive of GST and legal expenses — for sudden and accidental discharge of fuel, lubricants or sewage from your holding tanks
NRMA
$250,000 per incident, inclusive of GST — for removal and containment of debris and liquid
Nautilus Marine
$500,000 per accident / discharge, inclusive of legal costs and any fines or penalties. Applies across the Boat PDS and Premium Pleasure Craft PDS.
Youi
$250,000 sub-limit within the $10M General Liability cap — substantially lower than Club Marine’s $1,000,000, Nautilus’s $500,000 and roughly equal to NRMA’s $250,000
GIO
$250,000 sub-limit inside the $10M legal liability cap — NOT paid in addition. Well below Club Marine’s $1,000,000 and Nautilus’s $500,000.
QBE
$500,000 pollution sub-limit within legal liability cap (accidental discharge). Separately, $20,000 Clean Up Costs PAID IN ADDITION to sum insured for accident-site clean-up.
Suncorp
$250,000 sub-limit inside the $10M legal liability cap — NOT paid in addition.
CGU
Accidental discharge pollution cover included - cleanup costs plus legal liability for pollution-caused property damage. Specific dollar cap not surfaced in PDS extract; likely inside the legal liability sum insured.
RAC
Covered within legal liability limit
RACV
Covered within legal liability
New Wave Marine
Covered within Section 3 legal liability
Pantaenius
Covered within Third Party Liability Section B
PDS source / note
Club Marine PDS p.19; NRMA PDS p.10; Nautilus Boat PDS Legal Liability section

Racing cover (how far from the starting point your racing is insured)

Club Marine
Up to 150 nautical miles — yacht racing included as standard, no additional premium for inshore racing inside that limit
NRMA
Up to 25 nautical miles included as standard. The optional Racing Risk Extension covers events with a 25–50 nm course radius. Anything beyond 50 nm is excluded.
Nautilus Marine
Up to 100 nautical miles — sailboat racing included as standard. Racing beyond 100 nm is excluded unless specifically extended.
Youi
OPTIONAL Social Sailboat Racing up to 100 nautical miles on Comprehensive only. Professional racing excluded. Wind / capsize / wave damage to sails and rigging excluded unless there is also structural hull damage.
GIO
OPTIONAL — up to 100 nautical miles total course distance via Optional Cover for Sailing Boats when Racing (Comprehensive only). Power boat racing excluded in all forms.
QBE
OPTIONAL — Racing (Comprehensive) and Racing (Third Party Only) optional benefits, each capped at 200 nautical mile event distance. Power boat racing only via Power Boat Association time trials optional (25-knot max).
Suncorp
OPTIONAL — up to 100 nautical miles total course distance via Optional Cover for Sailing Boats when Racing (Comprehensive only). Power boat racing excluded in all forms.
CGU
STANDARD social yacht racing up to 50 nm (no spinnakers, club events). PLUS Power Boat Association time trials up to 25 knots INCLUDED. Optional Yacht Racing Risk Extension up to 200 nm for competitive sailing.
RAC
Optional Sail boats when racing cover up to 200 nm
RACV
Sailboat racing cover INCLUDED as standard — specific nm cap not surfaced in audit, confirm at quote
New Wave Marine
Dedicated Yacht Racing Risks section (Section 2) + Social and Corporate Yacht Racing (Section 5)
Pantaenius
SPECIALIST YACHT RACING CAPABILITY. Sailboat racing covered per Schedule; racing beyond 250 nm requires specific Schedule entry (All Risk). Motorboat racing excluded.
PDS source / note
Club Marine PDS p.27; NRMA PDS p.15; Nautilus Boat PDS

Geographic limit (how far from the Australian coast you can go)

Club Marine
250 nautical miles from the Australian mainland and Tasmania
NRMA
200 nautical miles from the Australian mainland or Tasmania
Nautilus Marine
250 nautical miles from the Australian mainland and Tasmania (Boat and Premium PDSes). The Personal Watercraft PDS is restricted to Australian waters only.
Youi
200 nautical miles from the Australian mainland
GIO
200 nautical miles from the Australian mainland and Tasmania
QBE
200 nautical miles offshore of Australian mainland or Tasmania — coastal and inland waters
Suncorp
200 nautical miles from the Australian mainland and Tasmania
CGU
200 nautical miles — moored boats measured from home port, trailer boats measured from last launch location
RAC
200 nautical miles from Australian mainland and Tasmania
RACV
200 nautical miles
New Wave Marine
Lloyd's product: 250 nautical miles off mainland Australia or Tasmania. BHSI product: check PDS.
Pantaenius
250 nautical miles typical; international cover available per Schedule (Pantaenius operates in 11 countries)
PDS source / note
Club Marine PDS p.48 "Geographic Limits"; NRMA PDS Definitions; Nautilus Premium PDS

Cooling-off period (your window to cancel for a full refund)

Club Marine
14 days from policy issue or each renewal
NRMA
21 days from policy issue or each renewal
Nautilus Marine
21 days from policy issue (consistent across the Boat, Premium and PWC PDSes)
Youi
20 days from policy issue or each renewal
GIO
21 days from the policy start date
QBE
21 days from the policy start or renewal date
Suncorp
21 days from the policy start date
CGU
21 days from cover commencement
RAC
Not surfaced in audit — likely 21 days (Australian standard)
RACV
21 days from cover commencement
New Wave Marine
21 days from policy issue and on each renewal (both products)
Pantaenius
Not surfaced in audit; assume 21 days (Australian standard) — confirm at quote
PDS source / note
Club Marine PDS p.9; NRMA PDS p.5; Nautilus Boat/Premium/PWC PDSes

Can you choose your own repairer?

Club Marine
Partial — you may nominate a marine shipwright or mechanic, but Club Marine reserves the right to request that the work goes to another approved repairer
NRMA
No — NRMA selects the repairer and the repair method. You can ask NRMA to source a preferred repairer subject to approval, but the insurer has the final say. In exchange, NRMA backs all authorised repairs with a lifetime workmanship guarantee.
Nautilus Marine
No choice-of-repairer clause exists in any of the three Nautilus PDS files. Repairs are coordinated through Nautilus Marine's specialist marine claims team — confirm preferred-repairer arrangements with your broker at quote stage.
Youi
Not explicit — the Quality Guarantee applies only to Youi-arranged repairs. Owners can request a repairer subject to Youi approval.
GIO
Not explicitly published in the PDS extract. Suncorp Group convention uses insurer-authorised repairers with a workmanship guarantee; confirm at quote stage.
QBE
Not explicitly addressed in the PDS extract — confirm at quote stage
Suncorp
Not explicitly published in the PDS. Suncorp Group convention uses insurer-authorised repairers.
CGU
Not explicitly addressed in the PDS extract. Confirm at quote stage.
RAC
Not explicitly published
RACV
Not explicitly published in audit extract
New Wave Marine
Not explicitly addressed in audit extract
Pantaenius
Specialist yacht repair network via Pantaenius; customer can nominate at quote stage
PDS source / note
Club Marine PDS p.36; NRMA PDS p.19; no Nautilus PDS reference

New-for-old replacement (brand-new replacement after a total loss)

Club Marine
Personal Watercraft (jet ski) only — new PWC replacement on a Total Loss within the first 2 years of registration
NRMA
24 months from first registration — applies to the whole boat (NRMA brand-new boat replacement)
Nautilus Marine
Premium Pleasure Craft PDS only — new-for-old replacement applies to marine electronics up to three years of age
Youi
Whole watercraft — within the first 24 months of new registration; pays up to insured value + 20%
GIO
Hull, motor(s) or trailer — same-manufacturer, same-or-similar model/specification replacement when the affected component is less than 2 years old at time of total loss (PDS p.31)
QBE
Not a published headline benefit in the 2021 PDS
Suncorp
Hull, motor(s) or trailer — same-manufacturer, same-or-similar model/specification replacement when the affected component is less than 2 years old at time of total loss
CGU
Not a published headline benefit in the 2022/2023 PDS and SPDS
RAC
Not a published headline benefit; 14-day auto-cover for newly purchased boats
RACV
14-day auto-cover when you change boats
New Wave Marine
Section 3.1 new-for-old replacement parts and repairs on partial loss
Pantaenius
Not a published headline benefit — Agreed Fixed Amount (All Risk) or Market Value (Prime) settlement
PDS source / note
Club Marine PDS p.24; NRMA PDS p.13; Nautilus Premium PDS p.20
How you buy it

Online quoting available?

Club Marine
Yes — direct online quoting via clubmarine.com.au for mainstream pleasure craft. Niche or performance craft may need broker contact.
NRMA
Yes — direct online quoting via nrma.com.au
Nautilus Marine
Partial — online quoting via nautilusinsurance.com.au for standard pleasure craft. Premium Pleasure Craft and PWC policies typically go through a marine insurance broker or dealership.
Youi
Yes — direct online quoting at youi.com.au/watercraft-insurance, with three tier options (Comprehensive, TPFT, TPP) on one quote flow
GIO
Yes — direct online quoting at gio.com.au/boat-insurance.html
QBE
Limited — QBE retail boat insurance typically issued through QBE-accredited marine brokers or the QBE customer care line (133 723); check qbe.com/au for current online quote availability
Suncorp
Yes — direct online quoting at suncorp.com.au
CGU
Limited — CGU is primarily broker-distributed for marine products. Direct-consumer online quote availability is more limited than Suncorp Group brands. Check cgu.com.au.
RAC
Yes — via rac.com.au for WA members
RACV
Yes — racv.com.au for Victorian members
New Wave Marine
Limited — New Wave Marine is a specialist marine agency, typically broker-mediated
Pantaenius
Through Pantaenius Australia at pantaenius.com.au or by calling Sydney/Gold Coast offices
PDS source / note
Provider websites, April 2026

Boat types covered (per each insurer's Target Market Determination)

Club Marine
Powerboat, Yacht, Sailing Vessel, Personal Watercraft / Jet Ski (rated to 70 knots), Trailer Boat, Tinny
NRMA
Runabout, Cabin Cruiser, Yacht / Sailboat, Tinny, Trailer Boat, Houseboat. PWC / jet ski explicitly excluded by the TMD.
Nautilus Marine
Powerboat, Yacht, Sailing Vessel, Premium Pleasure Craft, Vintage / Older Hulls. PWC available on the separate Personal Watercraft Insurance PDS.
Youi
Powerboat, Yacht, Sailboat, Jet Ski / PWC, Wind Surfer, Paddle Craft, Trailer Boat, Tinny. EXPLICITLY EXCLUDED by TMD: airboats, hovercraft, houseboats, craft manufactured before 1970, watercraft stored in the Northern Territory.
GIO
Powerboat, Yacht, Sailboat, Trailer Boat, Tinny, Runabout. NOT COVERED: jet skis, personal watercraft, PWC (GIO PDS makes no reference to them — boats only). TMD effective 27 June 2025 (not yet audited here) would formalise further target-market restrictions.
QBE
Pleasure Craft: Powerboat, Yacht, Sailing Vessel, Trailer Boat, Tinny, Jet Ski / PWC (with HARD under-25 operator liability exclusion). TMD not yet audited.
Suncorp
TRAILERED BOATS ONLY — Runabout, Tinny, Ski Boat, Fishing Boat, Trailer Boat. TMD p.3 EXPLICITLY EXCLUDES: boats that are not trailered; boats moored in water; boats used for business or commercial activity; PWC / jet skis.
CGU
Powerboat, Yacht, Sailing Vessel, Trailer Boat, Tinny, Jet Ski / Personal Watercraft (with conditional theft storage). Moored boats covered. Broader inclusion set than sister-brand NRMA despite shared underwriter (Insurance Australia Limited).
RAC
Powerboat, Yacht, Sailing Vessel, Trailer Boat, Tinny. PWC / jet ski not explicitly addressed in PDS; product designed for boats. Western Australia distribution.
RACV
Runabouts, Sailboats (single hull and catamarans), yachts. PWC / jet ski not surfaced in PDS audit extract. Victorian member distribution.
New Wave Marine
Sail Yacht, Motor Yacht, Sail Boat, Powerboat, Jet Ski / Personal Watercraft (with Section 5 specific conditions), Trailer Boat, Tinny. Specialist marine agency offering BHSI or Lloyd's product choice.
Pantaenius
Sail Yacht, Motor Yacht, Sailing Vessel ONLY. JET SKIS / PWC EXPLICITLY EXCLUDED from the tender definition in both All Risk and Prime PDSes. Yacht-specialist product.
PDS source / note
Club Marine PDS p.27 (PWC speed cap); NRMA TMD tmdbo003; Nautilus PDS file inventory; Youi Watercraft TMD p.02; GIO Boat Insurance PDS p.3 (no PWC terminology); QBE Pleasure Craft PDS p.30 (under-25 PWC exclusion); Suncorp Boat Insurance TMD p.3 (trailered-only restriction); CGU PDS p.7 (PWC storage conditions); RAC PDS (no PWC provision); RACV PDS (no PWC surfaced); New Wave BHSI/Lloyd's PDS Section 5; Pantaenius All Risk + Prime PDSes (tender definition excludes jet skis)

Ready to go deeper on a specific insurer?

Every provider in this comparison has a full editorial review with the four-dimension methodology scoring, a pros and cons breakdown, and the full FAQ for the brand.

Club Marine Review NRMA Review Nautilus Marine Review