Marine hull insurance

The University's property insurance covers motorised watercraft up to 10 meters in length and non-motorised boats of any length.

An individual marine hull insurance policy is required for vessels over 10 meters in length. Insurance Services arranges this policy and the premiums will be charged to the School.

It covers the loss or destruction of the vessel, but does not cover testing or research equipment used on the boat, or in or under the water. The basis of settlement for any claim will be:

  • Indemnity value for vessels with a sum insured up to $10,000.
  • Agreed value for vessels with a sum insured over $10,000 provided a current valuation is obtained, otherwise it will be based on indemnity value. 

Insurance Services relies on the inventory of vessels maintained by the UQ Boating and Diving Officer (Centre of Marine Studies Boat Compound), when preparing the annual return to the insurer for the policy renewal. If a School/Unit has a boat and it is not on this inventory, it will not be covered by insurance. It is the responsibility of the Schools and Units to ensure all boat details are advised to, and maintained with, the Boating and Diving Officer.

If a vessel valued at over $10,000 is being purchased, Insurance Services must be advised of the acquisition at least one week prior to delivery.

Excess

The excess is $500 for each claim. 

Claims procedure

Complete a Marine Hull Claim Form and submit to insuranceclaims@uq.edu.au