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Boat
Builders’
Insurance

New Zealand's boat builders have a worldwide reputation for building specialist craft. We offer two types of cover for professional boat builders:

1

Our standard policy is based on the London Market Marine Construction All Risks wording (MarCAR).

2

We also offer a more traditional policy based on the Institute Clauses for Builders’ Risks.

Need to claim?

If you own or operate a commercial vessel and you need to make a claim, please follow our Hull claims procedure, and Emailsend us an email.

For after–hours emergency assistance in New Zealand, call Cunningham Lindsey on Call us0800 800 270.

Hull Builders’ Risk cover

Our standard Builders’ Risk policy covers commercial hull builds within New Zealand from the start of building to when you hand the vessel over to its owner.

The policy is based on the London MarCAR wording, with some extra cover that we’ve designed to meet your risks. Compared to more traditional wordings, our Hull Builders’ Risk policy gives you more clarity and certainty.

You’ll be covered for materials as soon as they are allocated to the vessel being built. The policy includes specific definitions that give you clarity about what you’re covered for.

Our Hull Builders’ Risk cover includes MarCAR formulas to cater for a variety of different claims situations allowing for greater clarity and ease of claims valuations and calculations.

Standard MarCAR wording includes cover for:

  • Specific construction perils
  • Liability, including collision liability and protection and indemnity liability
  • Specific perils related to war
  • Strikes, terrorism and malicious acts
  • Different indemnity situations

These optional MarCAR covers are also automatically included in our policies:

  • Defects buyback
  • Expediting expenses to enable quick resolution when replacement parts are required following a claim

Additional covers provided by Vero:

  • Debris removal
  • Transit cover for any item covered by the policy being moved between the supplier’s or sub-contractor’s premises and the building yard specified in the policy

Extra points to note:

  • Un-named parties are catered for as Additional Assureds but are only covered according to their contract.
  • The sum insured is broken down in detail as regards both new builds and alterations/extensions, as is the escalation percentage.
  • Where cover is provided, there are specific Limits of Liability for
    • collision liability
    • materials
    • trials
    • failure to launch
    • allocated series costs
    • debris removal
    • expediting expenses
    • transit

Alternative cover available

We know that some of our customers still prefer to use more traditional Builders’ Risk insurance products. To ensure that you can choose cover you’re comfortable with, we also offer a wording based on the Institute Clauses for Builders’ Risks.

Related

Not quite what you’re looking for?

If the products above don’t quite suit your needs, have a look at these related marine hull insurance products, or get in touch with a broker for personalised help.

Pleasurecraft

Fisherman

Commercial Fishing Vessel

Helmsman

Commercial Hull

Get insured with Vero

For expert advice on how Vero can help you with your insurance needs, talk to a broker or adviser. Our locator helps you find a broker or adviser near you.

Find a broker

We’re for New Zealand

We’re here for New Zealanders whether it’s for general or specialist cover, we’re here to make insurance mean more for our customers. That means we do what really matters to make insurance more useful and more relevant to help you feel more confident.

About us

Important information

Excesses, terms, conditions, limits and exclusions apply to these policies. Please check the policy wording for details of cover. The provision of cover is subject to the underwriting criteria that apply at the time.

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life and business that really matter. The information doesn’t take into account your personal circumstances, needs or goals and is not intended to be financial advice. We recommend that before you purchase insurance, you get professional advice from a broker or adviser who’s registered under the Financial Advisers Act 2008.