You may only use it for pleasure, but it’s still an expensive asset – so if you own a motor boat, jet-ski or yacht, make sure it’s covered with iWYZE Comprehensive Watercraft Insurance.
Accident Cover Benefits
If your vessel is damaged or lost due to an accident, fire or theft iWYZE will have it repaired, replaced or will pay out the amount of the loss or damage.
Your maximum compensation will depend on the insured value defined in your Policy Schedule and on the value of your vessel at the time of the loss.
Third Party Cover Benefits
All iWYZE insurance options include third party cover, which means that, in the event of an accident, you become legally liable for costs and expenses claimed from you (or any person using your vessel with your permission), or from any water-skier being towed (or getting ready to be towed) by your vessel, iWYZE will indemnify you for these costs and expenses.
Please note: the amount of indemnification that iWYZE may provide in respect of any one claim, or series of claims arising from one event will be shown in your Policy Schedule.
Additional Benefits Included In Your Cover
iWYZE will also compensate you for the following expenses in the event of a claim under your Watercraft Policy:
Sighting Expenses
This covers expenses incurred in inspecting the underwater section of the hull after grounding.
Emergency and Salvage Charges
We will pay all salvage charges and expenses up to the insured value.
Transit Risks
We will cover any loss or damage which occurred whilst the vessel is in transit by land.
Yacht Racing Risk
We will pay the cost of repairing or replacing sails, masts, spars, standing or running rigging lost or damaged while your vessel is racing (up to a maximum of two-thirds of the insured value).
Use By Other Persons
Any person other than the operator or an employee of an operator of a shipyard, repair yard, slipway, yacht club, marina or vessel sales service or similar operation will be regarded as the insured.
Find out more about:
iWYZE is underwritten by Mutual & Federal Insurance Company Limited, a member of the Old Mutual group. Mutual & Federal and Old Mutual are Licensed Financial Services Providers.