Boat and Caravan Insurance
While boat owners usually have to pay a registration fee, there is no personal injury liability insurance aspect, as there is for road users. But boat owners are still liable for any damage or personal injury they cause on the water.
In addition to this risk, boats are expensive and vulnerable to theft or damage, which makes taking out an insurance policy a sensible choice.
If you are towing a caravan or trailer on the other hand, you are covered for personal injury liability by Australia's Compulsory Third Party (CTP) insurance scheme.
However, you may want to cover your caravan – and all its contents – against damage and theft.
Boat insurance
A good boat insurance policy should cover fire, theft, capsizing or stranding, and liability. It should also protect you throughout Australia.
Useful extras on marine insurance policies include cover for personal items on board, including fishing or diving gear.
Another benefit sometimes included is cover for waterskiers you are towing – be aware that even if you do have this cover, you may not be insured if they are barefoot.
Check if your insurer is offering agreed value on the policy. This may be a more expensive way of insuring your boat, but at least you will know what payout to expect if you need to claim.
Caravan Insurance
A good caravan insurance policy will cover both the caravan itself and its contents, whether it is stationary or in transit, and liability.
Most insurers offering caravan insurance will offer two types, on-site for stationary caravans, and comprehensive for those that travel around.
Look out for policies that offer to pay out on emergency accommodation costs, essential if you find yourself stranded on holiday if your caravan is damaged.
Caravan cover for towing costs, and a choice of repairer in the case of damage, are also useful features.
Buying Boat and Caravan Insurance
Many insurers offer discounts to customers who buy online, making the internet the best route for cheap caravan cover, or the best value boat insurance.
It's also important to shop around for your policy, as insurers all have their own way of calculating premiums, so prices will vary.
Using our comparison tool, you can compare a wide range of insurers and policies to make sure you find the best deal.