mi-boat Marine Insurance

What stands out

From the mi-boat Product Disclosure Statement:

• Agreed value on new boats: boats and PWCs up to two years from first registration can be insured for their purchase price. After that, cover moves to market value unless you agree a new value.
• New-for-old parts: if your boat is under five years old, damaged parts are replaced new-for-old, with genuine manufacturer's parts where possible.
• Emergency towing: up to $5,000 to get you home or to the nearest repairer, with no excess.
• Salvage and wreck removal are paid on top of your sum insured.
• Personal effects and water sports gear: $1,000 per item and $5,000 in total, with a $200 excess.
• Personal accident: up to $50,000, plus funeral and emergency expense benefits.
• Water-ski and wakeboard liability: covers injuries to skiers and damage they cause. It requires a competent observer on board, and it's an optional extra for jet skis.
• Pollution: fuel spill clean-up and related fines, up to $500,000.

Good to know

• Watch the jet ski excesses: $5,000 for engine damage from water inflow with no impact, and extra theft excesses if there's no sign of forced removal or the ski is kept in shared parking.
• Personal effects are only covered for theft if there's evidence of forced entry.
• YMI acts for the insurer, not for you, so compare quotes before you sign at the dealership.

How it compares

mi-boat's sweet spot is the new trailer boat or jet ski: new-for-old parts for five years is generous. For similar new-boat agreed value from a Zurich-backed specialist, quote Nautilus. For bigger emergency and personal-effects limits, quote Club Marine.

Questions to ask before you buy

• Is my boat inside the two-year agreed value window, and what happens at renewal after that?
• Do I need the water-ski liability option for my jet ski?
• What are the theft excesses where I store my boat or ski?
• Does the quote match the current PDS? The details above are from the published PDS and may have been updated.

Contact

489-493 Victoria Street, Wetherill Park NSW 2164 · 1300 780 446 · Yamaha Motor Insurance Australia Pty Ltd, AFSL 497198.

See our guide to marine insurance in Sydney and compare other marine insurance providers.

Last checked: September 2026. Always read the current PDS for your quote.

Bathurst Harbour (Port Davey system), in south‑west Tasmania, is a vast, almost land‑locked estuarine harbour inside the Southwest National Park and World Heritage Area. It offers a remote, sheltered anchoring environment protected from the Roaring Forties, but demands careful planning, an awareness of marine‑reserve rules, and a willingness to operate in shallow, tannin‑stained waters. Best suited to experienced coastal cruisers and small expedition yachts prepared for self‑sufficiency, Bathurst Harbour is more a place to linger and explore on foot and by tender than a port of call for busy,