Owning a Boat
Covers everything you need to know about caring for and protecting your vessel, including tips on maintenance, safety, and insurance coverage.
Home >
Owning A Boat
A Guide For Australian Boat Owners
Owning a boat is a dream come true for many people, and it's easy to see why! There's nothing quite like the feeling of being out on the open water, feeling the wind in your hair and the sun on your face. But this also comes with responsibility, and that includes properly maintaining and caring for your vessel. That's where New Wave Marine's guide to owning a boat comes in!
Our guide covers everything you need to know about caring for and protecting your boat, from tips on maintenance and safety to insurance coverage. We understand that boat ownership can be overwhelming, especially for first-time boat owners, which is why our guide is designed to help you navigate the world of boat ownership with ease. Whether you're a seasoned sailor or just starting out, our guide is a valuable resource that will help you enjoy the many benefits of boat ownership with confidence.
Check out these popular articles
Who Will Benefit From This Boat Ownership Guide?
New Wave Marine's guide to owning a boat is designed to be a valuable resource for all boat owners, regardless of their level of experience. Whether you're a seasoned sailor or just starting out, our guide covers everything you need to know about caring for and protecting your vessel. From tips on maintenance and safety to insurance coverage, our guide is designed to help you make informed decisions about how to best protect your investment.
If you're a first-time boat owner, our guide can help you navigate the world of boat ownership with ease and avoid common pitfalls. It provides insights on selecting the right boat, understanding licensing requirements, and learning essential boating skills. Additionally, we offer guidance on the proper maintenance and storage of your boat, ensuring its longevity and optimal performance. Our guide also covers safety measures and regulations to ensure a safe boating experience for you and your passengers.
For experienced sailors, our guide serves as a refresher, offering up-to-date information on best practices for boat ownership. It provides advanced tips on navigation, sail trimming, and handling various weather conditions. Furthermore, our guide includes resources for exploring new boating destinations and engaging in popular recreational activities. Whether you're looking to upgrade your vessel or enhance your boating skills, our guide offers valuable insights and practical advice to help you make the most of your boat ownership experience.
Navigating the Waters of Boat Ownership
There are several key considerations that every boat owner should keep in mind. Firstly, boat insurance is a crucial aspect of protecting your investment. It's important to have comprehensive boat insurance that covers damages, theft, and liability.
Understanding the Ongoing Costs of Boat Storage
Additionally, you should factor in the cost of storage, as most boats require a suitable place to be kept when not in use, whether it's a marina berth, a dry-stack facility, or a boat trailer used for towing. Boat storage costs can vary depending on the type of storage facility chosen, with marina berths typically being more expensive than dry-stack facilities or the cost of keeping a boat on a trailer, and it's important to consider these ongoing costs when budgeting.
Boat Maintenance Costs
Maintenance is a crucial factor to bear in mind when owning a boat, especially when it comes to preserving the optimal performance and durability of your vessel, as well as the longevity of your fishing gear. Routine tasks like engine maintenance, hull cleaning, and electrical system checks are necessary to ensure everything operates smoothly. It's also important to allocate a budget for ongoing maintenance costs, which should encompass not only the boat itself but also your fishing gear, to prevent any unexpected expenses in the future.
Furthermore, prioritising safety is paramount. Equipping your boat with essential safety equipment, including life jackets, flares, fire extinguishers, and navigation lights, is vital. Additionally, taking the time to familiarise yourself with boating regulations, weather conditions, and navigation rules will contribute to a safe and enjoyable boating experience, ensuring that both you and your fishing gear can make the most of your time on the water in Australia.
What Kind of Boat Should I Get?
When it comes to choosing the right boat, there are several factors to consider that can help narrow down your options. Here are two key subheadings to guide your decision-making process:
- Boats for Sailing: Sailboats come in various sizes and configurations, including dinghies, day sailors, cruisers, and racing yachts. Consider your level of experience and the type of sailing you plan to do, whether it's leisurely coastal cruising or competitive racing. Factors to evaluate when choosing a sailboat include the rigging (sloop, ketch, or catamaran), the number of sails, the cabin layout, and the overall condition of the boat.
- New Boat vs Used Boats: Deciding between a new or used boat is a common consideration, particularly when it comes to the purchase price. Purchasing a new boat allows you to customise features and ensures you receive the latest technology and design innovations. However, new boats tend to be more expensive. On the other hand, buying a used boat can provide cost savings, especially if you are willing to take on some minor repairs or cosmetic updates. It's essential to carefully inspect a used boat's condition, including the hull, engine, electrical systems, and any maintenance records available. Consider consulting with a reputable marine surveyor to assess the boat's overall condition before making a final decision.
By exploring these options and thoroughly evaluating your needs, preferences, and budget, you can make an informed choice when selecting the right type of boat for your specific requirements.
Latest Articles
Explore Blog categories
Frequently Asked Questions
What does the New Wave Marine Boat insurance policy cover?
The New Wave Marine Boat insurance policy covers various aspects of boat ownership, including:
- Physical damage coverage: This covers damage to your boat and its equipment, including the hull, motor(s), equipment and accessories, sails, masts, spars, standing and running rigging, tender, and trailer caused by accidents, fire, theft, or vandalism.
- Liability coverage: This covers you if you cause damage to another person's property or if you injure someone while operating your boat. Also included is the costs for the rescue of you, your passengers or your crew, the costs of salvaging your boat and the costs of any attempt or actual raising, removal or destruction of the wreck of your boat
- Towing coverage: This covers the cost of emergency towing, You do not need our authority to take such action if it is an emergency. However, you must advise us as soon as possible after the action has been taken.
- Personal effects coverage: This covers personal items that are on your boat, such as clothing, binoculars, mobile phones, prescription glasses and sunglasses, waterproof gear, bags, eskies, wine coolers, shoes, wallets or purses (excluding cash and credit cards), toiletry articles, hats or caps, keys or pens, portable radios, MP3 players and compact disc players.
Are trailers covered?
Yes, trailers are covered while they are being used to transport your boat, or while they are stored at the same premises as your boat. However, please note that there are certain conditions and exclusions that apply, and it is recommended that you refer to the PDS for a full description of coverage.
Will I need a survey report to get cover with New Wave Marine?
The necessity of a survey report depends on various risk factors. To determine whether you need one, simply fill out the quick online quote form. If a survey report isn't required, you will receive an instant quote and can proceed with purchasing the policy right away.
Does the New Wave Marine policy offer 3rd party only cover?
Yes, New Wave Marine offers Third-Party Only coverage, simply complete our online quote form.
Does the New Wave Marine 3rd Party Only policy cover removal of wreck and pollution?
The New Wave Marine 3rd Party Only policy provides coverage for the costs associated with raising, removing, or destroying the wreck of your boat in case of any attempt or actual incident. Additionally, it also covers any sudden accidental discharge, release, or escape of fuel, lubricants, or sewage from the holding tanks of your boat. If such an incident occurs, you could be legally liable for any resulting loss, damage, or contamination. The policy offers coverage up to $500,000 for such liability.
How do I lodge a claim?
To complete the Claims Form, go to the New Wave Marine website and click "Make a claim", Login with your email address and policy number, Click "new claim", complete the quick online claim form, and click submit. Your claim will then be sent directly to Berkshire Hathaway Specialty Insurance acting through its agent New Wave Marine. If you require any assistance call us on 1300 121 046
Marine Insurance for all types of boats
