Tailored cover for vessels mixing business with pleasure
Melbourne Boat Show Silver Sponsor, and leading boat insurance provider Club Marine has revamped its commercial boating cover, enhancing the policy benefits while continuing to cater for vessels used for business and occasional pleasure. The revision allows for greater alignment with Club Marine’s recreational boat insurance product, recognising there are often parallels between private and paid operation. Many commercial vessels, in fact, are based on conventional pleasure craft hulls that are upgraded to Survey requirements for use in income-generating ventures.
Included are: Skippered and bareboat charters, dive and fishing charters, sail training, sailing and boat club fleets, boat dealer stock vessels, trailer boat demonstration, boat brokerage tenders, boat licence training and builders risks (covering boats under construction).
Where this work is part-time or seasonal, as is common in Australia, owners are also covered by Club Marine for incidental non-paid use of the boat and can avail themselves of general member benefits such as Club Care, Club Marine Assist, the Member Rewards program and discounted subscriptions to Club Marine Magazine.
“Commercial insurance has been available on request through our underwriters for some time. It has largely flown under the radar, though, so we’re now looking forward to expanding our reach in this important sector,” Club Marine CEO Tim Wiles says.
“With over 65 years in the marine industry, we understand the unique risks of operating a boating business. We also see the common synergies between passenger-carrying commercial and recreational boats, which is where our strength lies.”
A number of bespoke aspects in the commercial policy will help ease operator concerns about unforeseen maintenance costs and down-time.
If a vessel accidentally runs aground, Club Marine will pay to slip and assess the hull without applying an excess, even if no damage is found.
Cover is provided for accidental loss or damage caused by repairers’ negligence, providing the repairer wasn’t the insured or their employee.
Option to purchase additional cover for loss of hire/earnings, for when the boat can’t operate and earn income due to a covered accidental loss or damage claim.
Club Care Benefits provide up to $20,000 (inc GST) assistance – twice that of the recreational policy – following an incident that gives rise to a claim, including emergency fuel delivery, returning the boat to its home destination, and costs of temporary accommodation and transportation (subject to limits).
“These benefits, along with our nation-wide network of assessors and repairers, can help commercial operators get back up and running in a timely manner to mitigate further financial loss. There’s also the flexibility for them to operate commercially yet still have recreational coverage attached to their policy,” Tim Wiles added. “It’s a win-win in all regards.”
