Yamaha customers offered new insurance scheme

The YMI insurance product will cover new, used and re-powered boats and WaveRunners. Photo / Supplied

Owners of Yamaha-powered boats and WaveRunner personal watercraft will now be able to insure their vessels through a new insurance company: Yamaha Marine Insurance.

YMI is now available through authorised Yamaha dealers and, according to Yamaha marine manager Greg Fenwick, is fully endorsed and supported by Yamaha Motor New Zealand.

Fenwick says the new scheme has been well received by New Zealand Yamaha dealers.

"This is an exceptionally simple, flexible and comprehensive insurance product," he says.

"It fits well with other Yamaha initiatives such as the successful Yamaha Motor Finance (YMF)."

Fenwick says YMI will cover new, used or re-powered boats, WaveRunners and other brands of PWCs sold by Yamaha outboard and WaveRunner dealers.

"The policy has some unique benefits over other insurance products, too," he says.

"One of its key features is a first-year, full-replacement policy on a Yamaha-powered boat or WaveRunner.

"There is also the option, at minimal cost, to extend new for old to a total of three years; great news for anyone who suffers a total loss or theft in the first three years of ownership."

Fenwick says the introduction of YMI - which will be managed by experienced insurance executive Brian Gilmour - rounds out a "one-stop-shop approach" to the market.

"This allows customers to purchase a [Yamaha product] ... finance the package with YMF and insure it with YMI."

Fenwick says that with Yamaha being the market leader in outboard motor sales in New Zealand, YMI has the potential to become the No1 recreational marine insurance product in the country.