FMG’s boat insurance covers your boat, outboard motor and trailer, its machinery, accessories and fittings, at sea and on dry land. 

What we cover

The FMG Boat policy automatically includes these covers and benefits.

Covers your boat if it’s damaged or destroyed by a sudden, unintended and unforeseen event, or if it’s stolen.

Up to $1,000,000 cover for your legal liability if you accidentally damage someone else’s property, or injure someone while using your boat. You can also choose a higher level of cover. 

If you buy an additional boat or replace your existing one it’s covered for its present day value up to $100,000, as long as you let us know the details within 30 days of the purchase and pay any extra premium if we require it.  

If your boat keys are lost or stolen we’ll pay to replace them and you won’t need to pay an excess. This also covers any electronic devices you use to access your boat.

Cover for damage to your boat caused by an earthquake, volcanic eruption, tsunami, hydrothermal activity or landslip.

If you have a total loss claim for your boat within a year of buying it new in New Zealand, we’ll replace it with a new boat of the same make and model currently available in New Zealand. 

Cover up to $5,000 towards the cost of refilling your fire fighting equipment after it’s been used to protect your boat. 

We’ll pay up to $5,000 towards the cost of rescuing you and your passengers from coastal waters after a loss.

If you offer a reward, with our prior consent, to protect or recover your boat, we’ll pay up to $5,000.

Your sailboat is insured while it’s being used for racing, speed competitions or reliability trials. Damage to the sails, masts, spars, standing or running rigging is only covered if it’s caused by your boat being stranded, swamped or sunk, burnt, or in a collision.

We’ll pay up to 25% of your sum insured to cover the cost of salvaging or removing, and safeguarding the wreck of your boat following a loss covered by this policy.

If your boat is wind powered you’re insured for your legal liability while you’re using your sailboat for racing, speed competitions or reliability trials. 

Legal liability cover if you’re towing a disabled boat, free of charge. 

If you’re using someone else’s boat with their consent then you’re covered for your legal liability when you’re operating it.

What we pay

Repair or replacement of your boat to the same condition it was in just before the loss, so age and condition are taken into account. Think of it as similar to a second hand value.  

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