Commercial Boat Cover
Who is This Insurance For?
Commercial Boat Cover is for boats that are registered and used for commercial purposes in Australia. It’s not for private pleasure craft.
It may suit:
- Tourism and sightseeing charter operators
- Game fishing and charter fishing operators
- Working boat operators, including tinnies, barges, council boats and SES craft
- Surf Life Saving Clubs using rescue and patrol equipment
- Schools, clubs and organisations using commercially owned kayaks, canoes and rowing sculls
A qualified insurance broker can help you work out whether Commercial Boat Cover is right for your boat and the way you use it.
Vessels and Operations Commercial Boat Cover is Designed For
Commercial Boat Cover is designed for smaller, less complex commercial boats. It gives operators a simpler way to understand their cover, without needing a highly tailored commercial hull policy.
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Tourism and Charter Boats
If you run sightseeing tours, whale-watching trips, reef tours, game fishing charters or small ferry services, your boat is central to your business.
Commercial Boat Cover can help protect eligible tourism and charter boats against accidental damage. Passenger Liability can also be added for operators who carry passengers.
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Fishing Charter Boats
Fishing charter boat owners rely on their vessels to get out on the water and keep operating.
Commercial Boat Cover can help protect eligible commercial fishing charter boats, such as game and sport fishing boats against sudden and unexpected damage. Operators can also add cover for Third Party Liability, passenger liability and pollution, depending on their needs.
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Working Boats
Working craft can include tinnies, barges, council vessels, SES boats and other small workboats used for inspections, maintenance, rescue work, service delivery or other practical jobs on the water.
Commercial Boat Cover is built for smaller working boats with simpler insurance needs. Larger or more complex vessels, such as dredgers, salvage vessels, jack-up barges and large cargo carriers, may be better suited to NTI’s Commercial Hull Insurance.
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Kayaks, Canoes, Rowing Sculls and SLSC Equipment
Commercial Boat Cover may also suit commercially owned non-motorised craft, including kayaks, canoes and rowing sculls.
It may also cover Surf Life Saving Club equipment such as rescue boards, IRBs and patrol equipment.
These craft may be smaller, but they still play an important role in school, club, community and commercial activities.
Do I Need Commercial Boat Insurance in Australia?
There is no single national law that says every commercial boat in Australia must be insured. But without insurance, commercial operators can be exposed to major costs if something goes wrong. Many marinas, ports and commercial agreements may also require Third Party Liability cover.
Without cover, you may be left to manage the costs of:
- Repairing or replacing a damaged boat
- Damage caused to someone else’s property
- Claims if someone else, including a passenger, is injured
- Lost income if your boat is out of action
- Issues with marina, port or operating agreements
With Commercial Boat Cover, you can access:
- Accidental damage cover for your boat
- Optional Third Party Liability cover
- Optional Passenger Liability cover
- Optional pollution cover
- Optional Loss of Earnings cover
Whether you operate a charter fishing boat, a tourism vessel, workboat, or rowing craft, NTI’s Commercial Boat Cover can be shaped around your boat and how you use it.
All About Commercial Boat
What Does Commercial Boat Cover Include?
Commercial Boat Cover starts with accidental damage cover. You can then add optional extensions, depending on your boat, your work and the risks you want to protect against.A broker can explain what’s included, what can be added and what applies under the policy.
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Included as Standard: Accidental Damage
Accidental damage is the foundation of Commercial Boat Cover.
It can cover sudden and unexpected physical loss or damage to your boat, its machinery and equipment, subject to the policy.
This may include incidents such as accidental hull damage, collision, grounding, fire, submersion or theft. The policy is designed to respond to a wide range of things that can go wrong for smaller commercial boat operators.
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Optional Extensions
You can choose to add extra cover depending on how your boat is used and the
risks you want to protect against.
- Third Party Liability – Covers injury to other people or damage to someone else’s property caused by your boat, where you are legally liable.
- Pollution – Covers sudden and accidental pollution events and related clean-up costs. This may be useful for charter boat and working craft operators.
- Passenger Liability – Covers your legal liability to passengers. For example, this may apply if a passenger slips or falls on your boat during an incident for which you are legally liable. This can be important for tourism, charter and ferry operators.
- Loss of Earnings – If your boat is damaged in an insured event and can’t be used, this extension can help cover lost income while it’s being repaired. That could include ticket sales from a ferry service or income from a charter agreement.
Why Commercial Boat? A Simpler Solution
Commercial Boat Cover was created for smaller, less complex commercial boats.
NTI’s Commercial Hull Insurance remains important for larger, higher-value or more complex marine risks. It’s built around Institute Clauses, which have been used in commercial marine insurance for many years and continue to play an important role.
Commercial Boat Cover gives eligible operators a simpler option. It uses a plain-language wording and an accidental damage structure, so it’s easier to understand how the cover works.
It’s been designed around the kinds of incidents commercial boat operators can face every day, including hull damage, collision, grounding, fire, submersion and theft.
Operators can then add extra cover for liability, passengers, pollution and loss of earnings.
What This Product is NOT Designed For
Commercial Boat Cover is designed for simpler commercial boat risks. It’s not designed for non-commercial private pleasure craft.
It’s also not designed for larger, higher-value or more complex vessels that need a more tailored policy.
Examples of vessels that may be better suited to Commercial Hull Insurance include cargo ships, dredgers, jack-up barges, tankers and other large or more complex commercial marine risks.
Operating a larger commercial vessel? See our Commercial Hull Insurance at the link below.
Why Choose NTI?
NTI has deep experience in marine insurance across Australia.
Our marine team supports a wide range of vessels, from complex commercial hull risks through to simpler commercial boat operations.
Commercial Boat Cover has been designed to be easier to understand, both for operators and brokers who may not be marine specialists, while still drawing on NTI’s marine insurance expertise.
If you need to make a claim, NTI’s marine claims team can help assess what’s happened, work through the next steps and support you through the process.
How to Get Insured
Commercial Boat Cover is arranged through qualified insurance brokers. A broker can talk through your boat, how you use it, where it operates and the cover you may need. They can also explain the policy details and help you work out whether Commercial Boat Cover is right for your operation.
Frequently Asked Questions About Commercial Boat Insurance
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How much does commercial boat insurance cost?
The cost of commercial boat insurance depends on your boat, its value, how you use it, where it operates, the cover you choose and your claims history. A broker can discuss all your Commercial Boat Cover with you.
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What does commercial boat insurance cover?
Commercial Boat Cover includes accidental damage cover for sudden and unexpected physical loss or damage to your boat, its machinery and equipment, subject to the policy. This may include incidents such as accidental hull damage, collision, grounding, fire, submersion or theft. You can also add cover for Third Party Liability, pollution, Passenger Liability and Loss of Earnings.
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Do I need insurance for my commercial boat in Australia?
There is no single national law that says every commercial boat in Australia must be insured. However, commercial operators can face serious financial and legal risks without cover. Many marinas, ports, hire operators and commercial agreements may also require Third Party Liability cover.
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What’s the difference between commercial boat and commercial hull insurance?
Commercial Boat Cover is designed for smaller, less complex commercial boats that suit a simpler accidental damage policy. Commercial Hull Insurance is generally designed for larger, higher-value or more complex commercial vessels that may need a more tailored marine insurance solution.
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Is Commercial Boat Cover suitable for private boats?
No. Commercial Boat Cover is for commercially registered boats used for commercial purposes. It’s not for private pleasure craft.