What is the difference between Agreed Value & Market Value?
Agreed Value means you are insured for that set sum insured, in the event of a total loss. Market Value means you nominate your sum insured, and in the event of a total loss you will be paid out, either the sum insured you have nominated or the current market value of your vessel, whichever is the lesser.
How do I obtain an Agreed Value?
By obtaining a valuation from a recognised marine dealer that sells vessels of a similar type. This will assist Us in supporting the Agreed Value for your vessel. In many cases, Agreed Value will be applied as settlement basis for new vessels insured with Us, at the purchase price.
Am I covered for towing a water skier?
Liability as a result and/or that arises from your vessel whilst being used for Water Skiing or Aquaplaning activities is a standard exclusion in the policy except where the Water Skiers cover has been requested to be included noted via endorsement on the policy schedule/documents.
Do I have contents cover under my policy?
Contents cover is automatically included under your policy. For definitions of Contents, cover and limits please refer to the relevant Policy Wording via the link below:
https://www.nautilusinsurance.co.nz/forms/ and/or as described in your Certificate of Insurance.
What is lay-up?
Lay-up is provided for trailered runabouts & PWC’s and provides a reduced premium for selected months, where the vessel is not used and stored at the home address on its trailer.
Am I covered if a friend or family member uses and operates my vessel?
Yes, as long as they have the relevant licence & skills to operate the boat, and whilst under operation, are adhering to all obligations of the skipper, including regulatory, licence and operational requirements.
What types of security should I add to my vessel when it is not un use?
Some items you could consider including are wheel clamps / trailer locks.
What is an inspection report?
These reports can be either an Out of Water Survey (for moored craft) or condition report and are used to determine the insurable condition of the vessel.
How do I access important documents such as Nautilus Marine Insurance Policy Wordings, Feedback and Complaints, and Privacy Policy?
You can access our Important Documents on the following pages:
Policy Wordings: https://www.nautilusinsurance.co.nz/forms/
Feedback and Complaints: https://www.nminsurance.co.nz/feedback-and-complaints/
Privacy Policy: https://www.nminsurance.com.au/privacy/
What do I do in the event I have had an accident or need to lodge a claim?
Our claims information page via the link below will provide you with more information.
Claims: https://www.nautilusinsurance.co.nz/claims/
Am I covered if I keep my boat on a mooring?
Yes, under certain circumstances. Trailered boats are not designed to be kept in the water 24/7, 365 days per year. As a minimum requirement, we require automatic bilge pumps and storm covers to be fitted and we may have further requirements depending on your circumstances.
Will you cover my boat on a swing mooring?
This depends on the location of your mooring. There are some locations that we will not provide cover for. In all cases, please provide the mooring number, location and last completed maintenance report for Us to determine whether we will approve that location.
What is a Condition Report?
A Condition Report supported with photos for moored vessels necessitates an evaluation by a qualified Marine Surveyor or Boatbuilder, which can be carried out while the vessel is afloat. It is important to note that the assessment criteria may differ for each insurer.
A Condition Report supported with photos for Trailer Craft vessels necessitates an evaluation by a qualified Boat Dealer or Boat builder, which can be carried out while the vessel is on its trailer where the Boat Dealer or Boat builder can view it. It is important to note that the assessment criteria may differ for each insurer.
A Condition Report takes less time and is less expensive than a Survey and the report can be in the form of a check list. Contact our customer service NZ team at customerservice@nautilusinsurance.co.nz or alternatively, phone us on 0800 455 003 for a copy of our standard Condition Report form.
What is a Survey and when is it required?
A Survey supported with photos involves an out-of-water (dry) inspection and the preparation of a Report, that may include recommendations to issues identified.. The survey must be undertaken by a qualified independent Marine Surveyor (YBDSA/IIMS or equivalent).
Each insurer has its own criteria for a Survey, although common examples are:
• When the vessel exceeds 15 years of age or is a non-production, or manufactured of certain materials.
• After a sustained period of Blue Water sailing and before the next passage.
• After an incident where the vessel has had significant damage.
• Any vessel that is not professionally built.
What is a Rig Report?
A Rig Report involves a thorough examination by a qualified Rigging Inspector of a vessel’s standing rig and the preparation of a report may include recommendations.
A Rig Report will generally be required before a Blue Water passage, particularly if the vessel has already completed a long passage.
Can you cover boats outside of NZ?
Yes, however, there are some circumstances where cover may not be offered. Please contact us at customerservice@nautilusinsurance.co.nz and or call 0800 455 003 for further assistance.
Do you provide shallow water coverage?
Some insurers may restrict usage in defined ‘shallow waters’, these waters are normally navigated by jet propelled vessels. Nautilus Marine Insurance does offer navigational usage in such waters, subject to our underwriting criteria. A higher excess may apply.
What if I require emergency assistance outside of normal office hours?
Please contact our customer service claims team on 0800 455 007 for any out of office / after hours emergency and claims assistance support.