Severe rain and weather: If you are a Vero customer and need to claim, fill out our online claims form Claims | Vero or contact your broker.
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 have a boat builders policy with us 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 Sedgwick on Call us0800 800 270.
Documents
Builders Risk (MarCAR) policy wording
Builders Risk (MarCAR) proposal
Fire & emergency levy calculation guide (Marine policies)
PDF DocumentMarine Claims Information Sheet
Brokers can find more documents in the Broker & adviser centre.
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.
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 and is not intended to be financial advice. For advice on product suitability, please contact your financial adviser.
