Boat Insurance – How it Works in South Africa


Having boat insurance is important if you own a boat so that you are protected financially if your boat is lost, stolen or damaged in an accident. The first thing you need to do is to decide on the amount of coverage you need for your boat, the excess and the types of coverage you need. 

Comprehensive cover protects you against accidents, fire and theft and covers you against claims by third parties where you are liable for their damage.

If you have boat insurance, if your boat is lost, stolen or damaged in an accident it will either be repaired or replaced or the amount of the loss or damage will be paid out.

Discovery Boat Insurance:

Discovery offers boat insurance in the form of a Classic, Executive and Essential Plan. Boat insurance usually covers most watercraft with motors, including fishing boats, paddle boat, leisure crafts and yachts.

You can get cover for loss of or damage to the boat and for your liability to others if your boat is used for private and leisure use.

What is covered?

Collision damage– the insurance covers the repair or replacement of your boat.

Property damage liability- covers damage you might cause to someone else’s boat.

Bodily injury liability– covers injury that you might cause to someone while using your boat. The insurance also covers medical bills as well as lost income.

Comprehensive cover– provides compensation if your boat is vandalised, stolen or damaged in an incident other than a collision.

The Cost of the boat insurance depends on:

  • The type, size and age of the boat that you wish to insure
  • The size of the motor and how it is powered
  • Whether you are using the boat on inland waters or the open seas.

Keep in mind that you may also qualify for discounts if you’ve taken a boating safety course or a good driving discount if your boating record is of a high standard.


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