Boating bliss or budget blowout? What insurers want you to know before heading out on your next water adventure

South Africa, with its vast coastline, is one of the world’s most sought-after destinations for watersports. With the warm weather fast approaching, many South Africans will be heading out into the deep blue to find their sea legs again in time for summer.

Before you rev up the engines of your sailboat, jet ski, yacht or dinghy, now might be the time to make sure that you’ve got the financial protection you need to keep your valuable sea-faring vessel afloat.

Buying any kind of watercraft is a substantial investment. An ordinary yacht will set you back by at least R500 000, with luxury yachts costing in excess of R3 million. Likewise, your average jetski sells for between R500 000 and R1 million. When the engine is running smoothly and there are no material damages, spending time at sea is a breeze.

But what happens when you run into trouble? In the event of an untimely accident, or water damage, the cost of repair or replacement can make a huge dent in your budget or in the worst cases, it could result in having to give up on your dream or hobby. Many South Africans may not be fully aware of how complex watercraft systems are and what it takes to protect this unique asset. This is where having the right kind of watercraft insurance can make all the difference.

According to Kennedy Ntenjwa, Head of Marine at Santam, “for most people who own some kind of watercraft, boating or watersport is more than just a pastime – it’s more of a lifestyle. In South Africa, this certainly doesn’t come cheap. Apart from the cost of the watercraft, many people also invest in specialised equipment such as advanced GPS and chart-plotting systems, sonar and fish-finding devices, high-quality safety equipment and marine air conditioning and heating systems.

The financial fallout of having to pay for costly repairs in the event that the craft or the related equipment breaks down can be significant. For many, the complete replacement cost of these items is simply unaffordable. With the right watercraft insurance, boaters and watersports enthusiasts can rest assured that a safety net is in place should the unexpected occur.”

The most common watercraft woes
One of the most important aspects of owning a watercraft is safe and proper storage. For many South Africans, the best solution is to invest in a trailer that can sustain the weight of the craft and ensure its mobility between storage and the water. Trailers that transport this valuable cargo need to be properly maintained to avoid problems such as tyre wear and blowouts, brake system failure, wheel bearing malfunctioning or winch problems – any of these issues can cause major damage to the craft if it detaches or is misdirected.

“In light of the many ways that damage or destruction can occur, we encourage watercraft owners to talk to their insurers and gain a full understanding of what is covered under their policy. At Santam, we offer comprehensive insurance for watercraft such as motorboats, ski boats, jet skis and wetbikes, including the hull, outboard motors, machinery, equipment, standard fittings and accessories normally sold with the watercraft,” says Ntenjwa.

Insurance for smooth sailing
The nature of a watercraft insurance policy will differ from insurer to insurer, so Ntenjwa says that it’s important for owners to understand what they are covered for as well as any add-ons they may need.

Factors such as the size of the vessel, where it is stored, and whether it is used in freshwater or saltwater can all impact the coverage required. Additionally, owners should consider coverage for theft, liability, and damage during transport, ensuring that their policy provides comprehensive protection both on and off the water.

“Policies can be structured according to what the owner needs. For example, we offer additional cover for things like anchors, audiovisual equipment, onboard fridges and freezers, fuel tanks and communication devices. In this regard, insurance advisers are best equipped to offer watercraft owners advice on how to tailor their policies according to their unique needs, the frequency of usage and the specific risks associated with the type of watercraft they own,” says Ntenjwa.