Boat Coverage NZ does not assign opinion-based ratings, star scores, or "best" labels to insurers. Information on this page is factual and drawn from each provider's public website and product disclosure statements (PDS). Specific terms, excess levels, and exclusions vary by policy — always refer to the current PDS before purchase.
FMG Insurance — Boat Insurance Overview
FMG is a member-owned mutual insurance company that historically focused on rural and farming customers. FMG writes pleasure craft and small commercial marine policies, frequently as part of a broader rural property and business package.
Quick facts
- Parent / underwriter:
- Farmers Mutual Group (mutual)
- Underwriter (risk carrier):
- FMG Insurance Limited
- Distribution channel:
- Direct (FMG advisers and field reps)
- Policy types:
- Pleasure craft, commercial marine, rural-focused risks
- Valuation basis:
- Agreed value or market value (policy-dependent)
- Default navigation:
- New Zealand coastal waters
- Notable features:
- Member-owned mutual insurer with a rural customer base. Often used for rural property owners with farm and boat together.
- Website / PDS:
- fmg.co.nz
Policy structure
- Hull age and survey requirements
- Older and specialised hulls may need a current marine survey. Specific requirements per the PDS.
- Excess levels
- Excess per claim depends on policy structure. Bundled rural policies may share aggregate excesses with farm property.
- Trailer cover
- Available; commonly bundled with farm trailers.
- Charter / commercial use
- Small commercial marine available — speak to your FMG adviser.
- Pacific Islands / offshore navigation
- Default navigation is New Zealand coastal; offshore trips require specific extension.
Common optional extensions
- Trailer cover
- Bundling with rural property
- Commercial marine for small operators
Exclusions to be aware of
Standard market exclusions. Refer to the current PDS.
Claims process
Contact your FMG adviser or phone the claims line. Claims handled in NZ.
Claims contact: FMG claims — contact on policy schedule and at fmg.co.nz
Who this insurer commonly suits
Rural and farming customers who want a single insurer for property, vehicles, and boat.
What to verify before purchase
When reviewing any boat insurance product, the factual items worth checking in the current PDS are:
- Whether the policy is written on agreed value or market value
- The default navigation area and any extensions available for your intended use
- Excess levels for hull, machinery, third-party, and named-windstorm claims
- Hull age, survey, and rigging-age requirements (for sailboats)
- Sail depreciation schedules (for sailboats)
- Bar crossing, racing, charter, and commercial-use conditions
- Trailer cover inclusion and sum insured
- Electronics and tackle sub-limits
- Claims-notification timeframes and contact options
Verifying registration
You can verify the registration of any New Zealand insurer or financial service provider on the Financial Service Providers Register. Conduct concerns about a licensed Financial Advice Provider can be raised with the Financial Markets Authority. Complaints that cannot be resolved with the insurer may be referred to the insurer's external dispute resolution scheme — see the PDS for the scheme name and contact details.
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