Estimate your boat insurance needs with our Boat Insurance Calculator. Calculate the right levels of cover to protect your marine craft and your financial livelihood.
Calculator results are estimates only and not quotes. Actual quotes will be provided by licensed brokers after you submit an enquiry.
Boat Insurance – Sum Insured Calculator
Add up the replacement cost of your hull, motors, trailer and onboard gear so you don’t underinsure.
Work through the steps and we’ll total your items into a clear summary for a quote request.
Step 1 of 6
1) Vessel details & GST mode
Enter your boat basics, choose how totals should display, then add the hull/base vessel value.
Commercial policies often set sums insured ex-GST if you can claim input tax credits.
Shown on your summary only.
Do not include motors, trailer or loose gear here. Enter the amount ex-GST.
Next: add your motor(s) (or skip if not applicable).
2) Motor(s)
List each outboard/inboard separately (type/HP + replacement value). Use the GST toggle if your number includes GST.
3) Trailer (optional)
If you have a trailer, add it here as a separate replacement value.
Covers/bimini/canopy, electronics/audio, tender/dinghy, watersports or fishing gear, custom fittings.
6) Results
Calculate your recommended sum insured and review the breakdown.
When you’re ready, calculate your total sum insured.
Heads-up: Personal effects, racing cover, mechanical breakdown, and liability are separate considerations and may not be part of the boat's sum insured. Ask us about optional covers.
Calculator outputs are estimates only and do not constitute quotes. Actual quotes will be provided by a licensed broker after you submit an enquiry.
How to use our Boat Insurance Calculator
Our Boat Insurance Calculator helps you estimate an appropriate boat insurance sum insured by adding up the replacement cost of your hull (base vessel), motor(s), trailer and onboard gear. This is important because underinsuring can leave you out of pocket after a theft, fire, storm or total loss, while overinsuring may increase premiums without improving your claim outcome. The result is an organised breakdown you can use when requesting a boat insurance quote or reviewing an existing marine insurance policy.
How to complete the calculator (in order) for the best result:
1. Boat type: Select the option that best matches your craft (for example runabout, cruiser, yacht/sailing, PWC/jet ski). This helps describe the risk and the kind of equipment you may need to include.
2. Make, model and year: Enter identifying details so your summary is clear and easy to validate later.
3. Hull or base vessel value (replacement): Enter the replacement cost of the hull only. Do not include motors, the trailer or loose gear in this field.
4. Motor(s): Add each outboard or inboard separately (description such as type/HP and its replacement value). This avoids missing twin engines or auxiliary motors.
5. Trailer (optional): Add your trailer replacement value if you want it included in the total.
6. Onboard equipment: Add items like navigation electronics, radios, anchors, sails and rigging, and safety gear. List meaningful items individually for accuracy.
7. Accessories and personal or recreational gear: Add covers, audio, tender/dinghy, fishing or watersports gear and custom fittings.
8. GST treatment: Choose whether totals should be shown including GST (typical for personal use) or excluding GST (often relevant if GST-registered and able to claim input tax credits).
9. Financier (optional): Add lender details to appear on your summary.
How to interpret the results:
1. Recommended sum insured: This is the total of the values you entered, giving a practical starting point for your boat insurance sum insured.
2. Itemised summary and JSON summary: Use the breakdown to sense-check values, update for recent upgrades, and share consistent information when seeking quotes.
Important: This calculator provides estimates only and does not constitute a quote or personal advice. It does not assess every insurance need (for example liability, personal effects, racing cover, mechanical breakdown). Consider your objectives, financial situation and needs, and read the relevant product disclosure information before deciding.
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Knowledgebase
Moral Hazard: The concept that individuals may take on more risk when they do not bear the full consequences of that risk, often relevant in insurance scenarios.
