Watercraft insurance

Our cover for your motor boat, ski boat, rowing boat, yacht and jet ski will float your boat

In a nutshell

Launch your boat, add some sunscreen, and you're all set, right? Um, no. A lot of things can go wrong when you're out on the water, and also when you're still on your way to the water. That's why the king offers comprehensive cover for your watercraft and liability cover in case things go very wrong. (You still need sunscreen though.)

Watercraft cover

You might know what words like 'port' and 'starboard' mean but you need to speak insurance too, so here are some terms that are important for our watercraft cover:

  • By 'watercraft' we mean any South African-registered boat used on water (duh) for social, domestic or pleasure purposes, and for the purpose that it's designed for, such as a motor, ski or rowing boat, yacht, or jet ski, including its hull, engines and machinery.
  • The 'regular skipper' (pilot or rider) is the person who skippers the watercraft most often and who's noted as such on your policy schedule. You need to let us know immediately if the regular skipper changes.
  • The 'agreed value' is the amount that your watercraft is covered for. This agreed value must be, well, agreed on by you and us, and must include the non-standard fitted extras and accessories. It's calculated on the cost of replacing the watercraft with the same make and model, in the same condition, with similar mileage, plus the value of any specified accessories. This agreed value won't depreciate, and so your watercraft premium won't decrease monthly. (Sorry.)

You're covered for the loss of, or damage to, your watercraft that's caused:

  • Accidentally.
  • Intentionally, by someone who isn’t you, a member of your household, or the regular skipper, as long as this happens without your knowledge or consent.
  • Due to theft, hi-jack and piracy, including attempted theft, hi-jack and piracy.
  • By fire, explosion, earthquake, storm, flood, freezing or snow.
  • By animals, excluding domestic animals and pets.
  • By hail.

Watercraft that are used for any of the following aren't covered by the king:

  • Emergency services.
  • Law enforcement.
  • Racing.
  • Piracy.
  • Towing other watercraft.
  • Taxi purposes or transporting fare-paying passengers.
  • Earning any kind of income.
  • Houseboat or permanent home.