Nautilus Marine Insurance Backs Classic Timber Boat Owners

As everyday boaters, the wooden boat enthusiasts had found it impossible to get adequate insurance cover.
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17th Apr 2009

Nautilus Marine Insurance Backs Classic Timber Boat Owners

Mention the words inboard - timber - ski boat in same sentence at an insurance convention and chances are that the gathered brokers would run the proverbial mile.

Not so the Nautilus Marine insurance agency.  Nautilus Marine has backed members of the Classic Australian Wooden Powerboat Association, offering a unique insurance policy, the like of which has not before been seen in Australia.

Now owners of timber powerboats have an insurer who not only understands their passion and their sport, but is prepared to deliver boat owners with proper protection on their prized powerboats.

“When we were approached by the members of the CAWPBA we quickly realised that marine insurers were unwilling to provide the level of cover that these boating people required,” said Mark Crockford of Nautilus Marine.

“Through our discussions we quickly realised that these boat owners are absolutely fastidious about their timber boats.  They are lavishly restored, maintained properly and operated responsibly.  In short these boats are amongst the best that you could ever see on the water.”

As everyday boaters, the wooden boat enthusiasts had found it impossible to get adequate insurance cover.  Many conventional boat insurers had a blanket ban on these kinds of boats.  Others offered very limited cover.

Nautilus did their homework and put together a policy package that addressed all the key issues.  The level of cover is based on an agreed and realistic value.  Moreover, the premium is essentially the same rate as if the boat were a modern day fibreglass family runabout.

The owners of the classic wooden boats are covered for collision, sinking, theft, fire, malicious damage and damage while in transit.

The wooden ski boat owners enjoy the same benefits as modern day ski boat owners, with a $10,000,000 third party public risk cover as a standard inclusion in their policy as well as optional liability cover for water skiing.

“Through our involvement with the Classic Australian Wooden Powerboat Association we are now able to offer cover on timber inboard ski boats that are in good condition and well maintained,” Mark Crockford said.

Nautilus Marine is a wholly Australian owned insurance agency that operates exclusively in the marine industry, and is underwritten by Lumley General.  Nautilus Marine has offices throughout Australia and offers insurance through a comprehensive network of authorised insurance agents.

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