I do not pay for it. I self insure by way of never letting the value of my yacht/s ever represent more than 10% of my nett worth.
I do pay for third party property/public liability insurance so that I can get into marinas and so that no smart arse can sue me for $10,000 for a new paint job if I happen to bump his yacht or some of my sanding dust happens to blow his way.
I have third party only [because I have to] about $112. If I lost my yacht I would be dead anyway. Yachts are like racing cars and buying shares, you have to be prepared to lose the lot. So in a way I'm like Cisco, I'm self insured.
Well it is a little bit confused at the moment because of floods etc, but RACQ are still doing it without requiring a survey. No need for it as they are not insuring your boat, just every other boat that you might run into.
They make a point of noting where the boat is kept ie which marina and then get a bit funny when you go cruising and park at another marina.
They really have no idea when it comes to yachts and motor cruisers. They are thinking cars.
Seems like you can't get insurance unless you are at a marina and you can't get into a marina if you do not have insurance.
Others you could try are Suncorp, APIA (Australian Alliance Insurance), QBE and GIO.
I am not currently insured as the yacht is out of the water longer term.
A little over $600 with nrma, full comprehensive, ON A SWING mooring in the tweed river.
Only insured for $25k, but I believe the mooring tackle is included. I forget the PL figure, but its 10 or 20 mil or whatever they wanted to go into hope harbour marina.
Last time I went up at GCCM for anti foul, they even faxed the details in for me because I was on the boat motoring up there when I got the call asking for my insurance details. ( qld'ers do things backwards
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