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Boat

Additional Benefits Definitions

The following section explains in more detail what each element of cover entails.  These definitions do not form part of the policy wording and are for your information only.  For full details please refer to the Boat Policy Wording and Product Disclosure Statement. Please note, HBF Home, Car, Travel and Boat Insurance are issued by HBF Insurance Pty Ltd ABN 11 009 268 277 AFSL 229190.

Personal Belongings

If Your Boat is Lost this Policy Covers the Loss or damage to Personal Belongings arising from the same Insured Event. We will pay up to $250 for each item up to a maximum of $1500 for all items Lost.

You can only claim under this benefit if You are also claiming for a Loss to Your Boat that is more than the excess shown in Your current Policy Schedule.

Substitute Boat

We will pay for Your legal liability (including Your liability for legal costs when Our lawyers act in connection with such claims) for claims from accidents arising from the use of a similar type of Boat in substitution for Your Boat provided that -

  1. Your Boat must not be able to be used due to damage or mechanical or electrical breakdown or failure;
  2. the substitute Boat must not be owned by You, Your family, relative or person ordinarily residing with You, but must be in Your custody or control;
  3. You have the owner’s permission to use the substitute Boat;
  4. the substitute Boat must only be used for Private Purposes and not let out on hire, charter or for reward of any kind (except to the extent that You are covered by a policy of insurance taken out by or on behalf of the owner of the substitute Boat with another insurer in respect of the substitute Boat).

Salvage charges and loss reduction costs

If Your Boat is Lost or gets into difficulties likely to give rise to a Loss on page 6 of the Policy Wording then We will pay the reasonable costs, but not exceeding the Sum Insured, of:-

  1. Minimising the Loss.
  2. Removing the Boat to a place of safety.

Please read the Financial Service Guide (FSG) before applying for an HBF General Insurance product.

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