Revealed: top causes of boat damage

“Recently, we’ve had claims for upwards of $80,000 worth of damage, so without insurance you could be in for a nasty shock,” Beale said. “With underwater impacts accounting for nearly half of all boat claims, we encourage boaties to look at insurance cover that includes third-party damage, so you aren’t caught out with costs to repair someone else’s boat as well as your own. This is especially important in the current inflationary environment, which has seen the cost to repair or replace many assets increase.”

The second most likely cause of boat claims is out-of-water impacts, at 23.6%.

“A common scenario we see is drivers misjudging their turns, causing their boat trailer to collide with the likes of a petrol station bollard or the corner of a building,” Beale said. “We know boaties are always excited to get out there first thing but if you’re not careful that morning rush at the gas station to fuel up can really put a damper on the day’s adventure.”

More frequent severe weather events caused by climate change have contributed to storm damage, mainly from cyclones, which accounted for 7% of claims over the past 18 months.

Damage because of mechanical failure and breakdowns is in fourth place at 5.4%. This is also one of the Coastguard’s leading causes of callouts, accounting for almost a third of all callouts from June 2021 to June 2022.

Other reasons for boat claims include theft at 5%, gas leaks at 2.9%, arson at 0.8% and vermin damage at 0.4%.

Tower launched its boat insurance offering in December 2020 and, at the same time, partnered with Coastguard to help keep even more Kiwis safe out on the water.

According to Coastguard, it saw a nearly 280% increase in incidents from September to October last year, with the number of incidents continuing to increase until February.

“We responded to over 100 callouts last year related to collisions and vessels running aground,” said Coastguard New Zealand head of operations Rob McCaw. “We’ll start to see more boats on the water, so it’s a good reminder to be watchful of other vessels while you’re out and about. If you’d like a refresher or are new to boating, take a day skipper course from Coastguard Boating Education to cover all the safety basics including navigating all those tricky give-way scenarios.”

“Tower and Coastguard share a long history of looking out for Kiwis when the unexpected happens,” Beale said. “While we take care of your assets on and off the water, Coastguard is there to protect the most important thing of all – you. Partnering with Coastguard was an easy choice for the Tower team, and we’re excited to continue to support Coastguard’s mission to bring Kiwis home safely.”