mi-boat Marine Insurance

About mi-boat Marine Insurance

If you've just driven a new boat or WaveRunner out of a dealership, there's a good chance mi-boat was offered with it. It's the marine brand of **Yamaha Motor Insurance Australia**, the company behind mi-bike, and it's built around the needs of trailer-boat and jet ski owners.

## At a glance - **Best for:** new and near-new trailer boats and jet skis, and families who tow skiers or wakeboarders - **Covers:** boats and personal watercraft, including motors, trailers and approved modifications - **Insurer:** HDI Global Specialty SE, with Yamaha Motor Insurance arranging cover and settling claims under a binder - **Contact:** 1300 780 446 · claims@mi-boat.com.au

## The story Yamaha Motor Australia bought its insurance business, Yamaha Motorcycle and Marine Insurance, from NM Insurance (the company behind Nautilus) around 2017. It became **Yamaha Motor Insurance Australia**. The company also acquired the mi-bike brand so dealers who don't sell Yamaha could offer its cover too, and mi-boat is the marine sister of that brand.

## What stands out From the mi-boat Product Disclosure Statement: - **Agreed value on new boats:** boats and PWCs up to two years from first registration can be insured for their purchase price. After that, cover moves to market value unless you agree a new value. - **New-for-old parts:** if your boat is under five years old, damaged parts are replaced new-for-old, with genuine manufacturer's parts where possible. - **Emergency towing:** up to $5,000 to get you home or to the nearest repairer, with **no excess**. - **Salvage and wreck removal** are paid on top of your sum insured. - **Personal effects and water sports gear:** $1,000 per item and $5,000 in total, with a $200 excess. - **Personal accident:** up to $50,000, plus funeral and emergency expense benefits. - **Water-ski and wakeboard liability:** covers injuries to skiers and damage they cause. It requires a competent observer on board, and it's an optional extra for jet skis. - **Pollution:** fuel spill clean-up and related fines, up to $500,000.

## Good to know - Watch the jet ski excesses: $5,000 for engine damage from water inflow with no impact, and extra theft excesses if there's no sign of forced removal or the ski is kept in shared parking. - Personal effects are only covered for theft if there's evidence of forced entry. - YMI acts for the insurer, not for you, so compare quotes before you sign at the dealership.

## How it compares mi-boat's sweet spot is the **new trailer boat or jet ski**: new-for-old parts for five years is generous. For similar new-boat agreed value from a Zurich-backed specialist, quote [Nautilus](/directory/nautilus-marine-boat-insurance). For bigger emergency and personal-effects limits, quote [Club Marine](/directory/club-marine-boat-insurance).

## Questions to ask before you buy - Is my boat inside the **two-year agreed value** window, and what happens at renewal after that? - Do I need the **water-ski liability** option for my jet ski? - What are the **theft excesses** where I store my boat or ski? - Does the quote match the **current PDS**? The details above are from the published PDS and may have been updated.

## Contact **489-493 Victoria Street, Wetherill Park NSW 2164** · 1300 780 446 · Yamaha Motor Insurance Australia Pty Ltd, AFSL 497198.

See our guide to [marine insurance in Sydney](/marine-insurance-sydney) and compare other [marine insurance providers](/directory/services/insurance).

**Last checked:** September 2026. Always read the current PDS for your quote.

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• Marine insurance