Boat and marine craft insurance

Accidents can happen to anyone at any time, which is why it’s important to have insurance for your marine craft.

Benefits at a glance

  • Covers accidental and sudden loss or damage to your vessel within 200 nautical miles from the New Zealand coastline
  • Provides legal liability protection - up to $5 million
  • Covers the reasonable cost of trying to prevent or reduce loss or damage to your vessel, including towing
  • Provides payment for medical expenses for death or bodily injury up to $5,000 for an accident involving your vessel

Consider ASB Pleasurecraft Insurance

Before you head out on the water, it makes sense to do a safety check - just in case. It's the same with having boat insurance - it's there, just in case you need it. A boat will likely give you many years of enjoyment, so it's worth investing a little to make sure it's properly covered, as well as your personal effects on board that are normally used on a boat.

We can offer you insurance that will cover your boat for non-commercial use up to 200 nautical miles from the coast of New Zealand.

What we cover:

  • We will provide cover for your boat if it's suddenly and accidentally damaged or stolen - up to the amount it's insured for
  • If it can be repaired, we'll arrange to have it fixed for you, or pay you the cost of having it repaired
  • If your boat isn't worth repairing, or is stolen and not recovered, we'll pay up to the maximum amount you had it insured for

Your cover also includes:

  • Auxiliary dinghies, trailers or any other equipment that's attached to or permanently kept on board your vessel
  • Fishing, diving, water skiing equipment, if specified (unless it's already insured under another policy)
  • Personal effects, phones, cameras, etc. while on the boat, up to $10,000
  • Costs of preventing damage - i.e. flares and fire extinguishers used to minimise any further damage, up to 25% of the sum insured
  • Towing cost to the nearest repairer, up to $2,000 (max $4,000 per annual period)
  • Personal legal liability costs, up to NZ $5 million
  • Rescue costs for you and your passengers and crew, up to $25,000
  • Temporary accommodation costs for you and your family and domestic pets if you can't get home following loss or damage covered by the policy, up to $2,000
  • Transport costs home or to your nearest immediate destination for you and your family and domestic pets following loss or damage covered by the policy, up to $500 each (max $2,000)

Exclusions include:

  • Faulty design, manufacture, construction or assembly
  • Wear and tear, rot, corrosion, rust, mildew, fouling or gradual deterioration
  • Loss of, or damage to, your fishing, diving or water skiing gear or equipment while in use

You'll find full details of cover in Section 4 of our policy document.

Who underwrites this policy?

ASB has chosen IAG New Zealand Limited (IAG) to underwrite our motor vehicle insurance. View IAG’s financial strength rating.

Get started today

01. Choose

Decide on the amount of cover you need to protect your boat or other type of marine craft.

02. Quote

Call 0800 200 252 or come into any ASB branch to get a personalised quote.

03. Accept

Accept the quote and your insurance will be put in place.

04. Update

Remember to review your policy and tell us if something changes.

Let's talk about boat or marine craft insurance

Call us

Talk to us about what you'd like to insure and we'll get you sorted.

0800 200 252

Visit a branch

Visit us at one of our many branches across New Zealand.

Find a branch

Ask a question

Need help? If you need more information, just email us.

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The availability of insurance cover is subject to your application being approved. Term, conditions and exclusions apply. For full details, refer to the policy document which is available from ASB Bank Limited. This insurance is underwritten by IAG New Zealand Limited. See further information regarding IAG's financial strength rating.

Car, boat and other vehicle insurance Boat and marine craft insurance