Boat Insurance FAQs
GIO Boat Insurance is designed for owners of trailered boats who use their boat for private use only. Private use - using your boat wholly for personal pleasure or recreational sporting activities and not used for hire, charter or fee or any income earning activity.
If you’ve added the optional 'Cover for sailing boats when racing' (available to add on to Comprehensive Boat Insurance for an additional cost), then yes, we’ll provide cover for your sailing boat while it is participating in a race, up to 100 nautical miles in total distance travelled. However, we don’t cover power boats when racing.
We don’t cover the cost of fixing a mechanical breakdown (including seizing or overheating) of your boat motor.
If you've added the optional 'Lay-up period' cover (available to add on to Comprehensive Boat Insurance), you’ll pay a reduced premium but your coverage will be reduced during the lay-up period (that you choose) when your boat is not in use, for example, in winter.
During the lay-up period, we’ll only provide cover when your boat is at home, in secure commercial storage, in transit to a repairer after we’ve approved a claim, or is going to be serviced. The maximum period you can lay-up your boat is 6 months in any one period of insurance. Conditions and exclusions, so refer to the PDS for more detail.
Contents that we cover are items owned by you and your family that are on your boat or locked in a fully enclosed room, shed, garage or vehicle (if you have Comprehensive Boat Insurance or have selected ‘additional cover for boat contents’).
Yes – 60 knots or your boat’s maximum design speed, whichever is less.