How does lay-up actually work?
Lay-up for Suncorp Comprehensive Boat Insurance allows you to lay up your boat for up to 6 months in the year when you will not be using it, for example in winter. If you have this optional cover shown on your certificate of insurance, your premium will be reduced but it means your Comprehensive cover is limited such that we do not cover any loss, damage or liability if the boat is used on the water during the time it is in lay-up. Under this optional cover, you are only covered for accidental loss or damage that can happen at home such as theft, fire, malicious damage and storm, when your boat is in commercial storage or in transit to a repairer for repairs after a claim has been approved by us (or when you are taking your boat to be serviced) but at no other time.
Should you choose this feature your ‘lay-up’ period will be shown on your certificate of insurance and your premium will be reduced based on the length of the lay-up period.
Refer to the PDS for more details.