Boat builders

Cover based on London Institute Builders' Risks Clause, from start of build to handover of vessel to owner.

New Zealand's professional boat builders have a worldwide reputation for building specialist craft and in particular high-tech yachts from composite materials.

Vero Marine's policy provides cover from the time materials are allocated to the vessel being built, or the keel laid, until the time of handover to the owner after sea trials. The policy is based on the London Institute Clause for Builders’ Risks and includes cover for:

  • Loss or damage to the vessel caused and discovered during the policy period;
  • Loss or damage to the hull, machinery, fittings or equipment at, and/or in transit to, sub-contractors facilities within the port area;
  • Loss or damage to the vessel whilst on sea trials;
  • Legal liability incurred whilst the vessel is on sea trials, for:
    • Damage to another vessel from collision;
    • Loss of life or bodily injury to other people;
    • Removal of wreck;
    • Damage to other property such as wharves, buoys, cables etc.
Extensions are available to the policy to include protection for:
  • Delivery voyages within New Zealand or overseas;
  • Transit of materials and equipment from overseas or elsewhere in New Zealand.
Builders Risk Proposal
    Please Read This Important Information This on-line information is provided by Vero Marine and is intended to provide summary information of the main features of this Vero Marine product. For further information on this product, please speak to your broker / adviser about Vero Marine products. A decision to purchase this product should be based on more comprehensive detail than is provided by this summary and you should not rely solely upon this summary. The policy document describes in detail the benefits provided, exclusions and how your policy works. The Vero Marine product described in this on-line information is offered by Vero Marine and is only available within New Zealand.

    Vero Marine sells its products through independent brokers. You can find a broker near you with the help of the Insurance Brokers Association website...