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Watercraft insurance

Let us float your boat with cover for your motor boat, ski boat, rowing boat, yacht and jet ski

In a nutshell

Give a man a fish and he’ll eat for day. Teach a man to fish and he’ll spend a king’s ransom on a boat, fish finder, rods… Luckily, the king understand how costly owning a boat can be and so we offer cover for your watercraft and accessories (whether you fish, dive or ski) that won’t leave you high and dry.

Just to be clear

You might know what words like ‘port’ and ‘starboard’ mean but you need to speak insurance too, so here are some terms that are important for our watercraft cover:

  • By ‘watercraft’ we mean any Namibian-registered boat used on water (duh) for social, domestic or pleasure purposes, and for the purpose that it’s designed for, such as a motor, ski or rowing boat, yacht, or jet ski, including its hull, engines and machinery.
  • The regular skipper (pilot or rider) is the person who skippers the watercraft most often and who’s noted as such on your policy schedule. You need to let us know immediately if the regular skipper changes.
  • The ‘agreed value’ is the amount that your watercraft is covered for. This agreed value must be, well, agreed on by you and us, and must include the non-standard fitted extras and accessories. It’s calculated on the cost of replacing the watercraft with the same make and model, in the same condition, with similar mileage, plus the value of any specified accessories. This agreed value won’t depreciate, and so your watercraft premium won’t decrease monthly. (Sorry.)

What’s covered by the king

You’re covered for the loss of, or damage to, your watercraft that’s caused:

  • Accidentally.
  • Intentionally, by someone who isn’t you, a member of your household, or the regular skipper, as long as this happens without your knowledge or consent.
  • Due to theft, hi-jack and piracy, including attempted theft, hi-jack and piracy.
  • By fire, explosion, earthquake, storm, flood, freezing or snow.
  • By animals, excluding domestic animals and pets.
  • By hail.

And, just so you know

Watercraft that are used for any of the following aren’t covered by the king:

  • Emergency services.
  • Law enforcement.
  • Racing.
  • Piracy.
  • Towing other watercraft.
  • Taxi purposes or transporting fare-paying passengers.
  • Earning any kind of income.
  • Houseboat or permanent home.