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Oceanic Marine Risks

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Cannonvale, QLD
Oceanic Marine Risks

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At Oceanic we are determined to use our market knowledge and professionalism to exceed our clients' expectations of service.

A specialist Marine Insurance Brokerage delivering expert care, strategic advice and comprehensive services for all aspects of the marine industry across Australia. Today, as a result of this attitude, more than 80% of our new business comes from existing client referrals, demonstrating that we care for our clients’ interests and work in the local, domestic and international markets on their behalf with a resounding success. If you have an insurable interest with a Marine element, you need to talk to us. You can browse our Insurance Products from the drop down box above and find information and proposal forms you can complete to assist us in understanding your needs better. NORTH QUEENSLAND:

Conway House
6 Island Drive
Cannonvale QLD 4802
P.O. Box 558
Cannonvale Q 4802
Telephone: 07 4946 7555
Fax: 07 4946 7653

Office Hours: Monday - Friday
8:30am - 5:00pm

09/10/2026

🎉🏆 Congratulations to our very own office legend, Simone Wells! 🏆🎉

Our wonderful Office Manager has officially been named Broker Support Person of the Year for 2026, and we could not think of anyone more deserving.

Sim is the kind-hearted, fun-loving force that helps keep our office moving. She supports everyone around her with genuine kindness and brings plenty of laughter and personality to our office. Her kindness, loyalty and dedication mean so much to our entire team and we are incredibly lucky to have her.

Well done, Sim! We are all so proud of you. We hope you celebrate properly, preferably with a rum in your hand! 🥃🌟

23/09/2026

🚤 Agreed Value vs Market Value — Why It Matters for Boat Owners

When it comes to insuring your vessel, one small detail can make a big difference at claim time:

👉 Your basis of settlement.

It’s something many boat owners overlook, but it determines how your vessel will be valued if the worst happens. Here’s a simple breakdown 👇

⚓ Agreed Value

You and the insurer agree upfront on what your vessel is worth. If there’s a total loss, that’s exactly what you’re paid, no depreciation and no debate.

Why owners love it:
✔ Certainty
✔ No arguments about value
✔ Fast settlement

Agreed Value is typically valid for two years when supported by a Bill of Sale for a recent purchase. If the vessel is not newly purchased, obtaining a valuation from a reputable boat broker or dealership will generally satisfy insurer requirements and is also valid for two years.

⚓ Market Value

The insurer determines the value at the time of the loss using market data, vessel condition, age, photos, maintenance records and service history, and comparable sales. What this means:
✔ You’re paid the current market value
✔ Depreciation could apply despite paying a premium for a set figure
✔ Less predictable than Agreed Value

⚓ Why This Matters

Your basis of settlement affects:

how your payout is calculated
how fast the claim progresses
how much financial protection you truly have

It’s a crucial part of your policy and shouldn’t be overlooked, especially for higher‑value vessels or boats that have had upgrades 🛟If you’re not sure which option is right for you (or whether your current sum insured reflects true value), we’re here to help you navigate it with confidence. ⚓️

11/09/2026

⛵ Planning an offshore voyage?
AMSA's latest post is a great reminder that preparation is everything. Make sure your safety equipment, passage plans and insurance arrangements are ready before you head offshore.
⚓ Cruise smart. Stay protected.

06/08/2026

🚤 When Should You Get a Boat Valuation?

A boat valuation isn’t just paperwork, it’s an important tool to make sure your vessel is insured properly and reflects its true worth.

Here are the key times you should consider getting one 👇

🔧 After a Refit or Major Upgrade

New engines? Electronics? Rigging? Structural work?
If you’ve invested in your vessel, chances are its value may have gone up, a valuation ensures your cover keeps pace.

📈 When the Market Value Has Increased

Some vessels rise in value due to demand, rarity, or recent sales trends. If the market is shifting, it’s worth checking whether your current sum insured is still accurate.

📅 Before Renewal

Renewal is the perfect opportunity to make sure your insurance remains aligned with what your vessel is actually worth today.

🤝 When You Want Agreed Value

Most insurers need evidence of value, like a valuation or Bill of Sale, before offering an Agreed Value policy.
Agreed Value gives you certainty at claim time and typically locks in your value for two years.

🕒 Every 2–3 Years as Best Practice

Even without upgrades, your vessel’s value can change over time. A valuation every few years keeps your cover current and avoids being unintentionally under‑ or over‑insured.

⚓ Why It Matters

The right valuation protects you from:
- financial shortfalls after a total loss
- paying premium on an inflated value
- delays or disputes during a total loss claim

🌟 If you’re unsure whether your vessel needs a valuation, or whether your current sum insured is still appropriate, we’re here to help guide you.

06/07/2026

🎉 Join us in celebrating the wonderful Angela Clark for her amazing 15 years of dedicated service at Oceanic Marine Risks! Angela's hard work and commitment have been invaluable to our team. Here's to many more years of success together! 🥳🌟

27/06/2026

🧑‍💼 The Difference Between a Broker and a Direct Insurer ⚓️

Direct insurers sell you a policy 📃 A insurance broker represents YOU, helping with:
✔ Market comparisons
✔ Claims support
✔ Coverage advice
✔ Product suitability
✔ Negotiating terms

💰 Insurance is more than a price — it’s protection 🛡️

And here’s the real difference 👇
A direct insurer represents the insurer, not you. A broker represents YOU, prioritising your needs, your risks, and your protection.

🛟 When life gets messy, confusing, or downright unfair, having someone in your corner who understands the fine print and fights for you makes all the difference.

💪 Choose advice. Choose advocacy. Choose a broker 💙

27/05/2026

⛵ A pre‑purchase Out of Water Condition Report is one of the smartest investments you can make before taking ownership of a used vessel 🛠️ It gives you clarity, protection, and bargaining power. Here are more key reasons it matters:

🔍 What a Condition Report Can Reveal 👇

✔ Hidden structural issues such as osmosis, rot, or hull fatigue.
✔ Engine or mechanical wear that isn’t visible during a quick inspection.
✔ Electrical system problems or outdated wiring.
✔ Previous collision or storm damage that may not have been disclosed.
✔ Signs of poor maintenance or long periods of neglect.
✔ Safety equipment that’s missing, expired or non‑compliant.
✔ Damaged fuel systems, plumbing issues, or corrosion in critical areas .

⚓ Why It Protects Your Investment 👇

✔ Helps you avoid buying a boat with costly future repairs.
✔ Provides a realistic picture of the vessel’s true value.
✔ Allows you to negotiate the purchase price based on real findings.
✔ Prevents surprises that could leave you stranded or unsafe on the water.

Did you know❓ Existing damage outlined in a condition report may be excluded from insurance if not rectified.

💡 The Bottom Line

A second‑hand boat may look perfect, but a professional condition report shows you what’s happening under the surface.

🚤 Safe boating starts with informed buying.
Get the report. Protect your investment. Enjoy the water with confidence. 🌊💙

25/05/2026

🎉 Celebrating 5 years with Oceanic Marine Risks – Simone Wells 🎉

Today we’re celebrating Simone and her 5-year milestone with Oceanic Marine Risks!

Simone brings so much energy and positivity to the office, while somehow managing to keep all the brokers in line and everything running smoothly behind the scenes. Her dedication, organisation, and steady support never goes unnoticed. With a connection to our business spanning over 23 years, Simone’s impact and relationships within the team are truly something special.

Thank you, Simone, for everything you do, we appreciate you more than you know. Here’s to many more years ahead! 💙

16/04/2026

🛥️ Every Part of Your Boat Matters — Above and Below the Waterline

The biggest risks aren’t always dramatic; when water finds a way in at your berth, your bilge system is what buys you time.

Stay ahead of it:
✔ Test your float switch
✔ Inspect wiring for corrosion or loose connections
✔ Check your battery is healthy and charging
✔ Clear debris so pumps can run freely

⚓ If you’re away from your boat for an extended period, take extra steps 👇
🔸Double-check all mooring lines, correct tension, no chafe points, and suitable line diameter.
🔸Ensure fenders are positioned and secured to prevent hull damage from movement.
🔸Verify shore power is connected safely, and your charging system is functioning correctly.
🔸Close all unnecessary seacocks to reduce water‑ingress risk.
🔸Confirm bilge alarms (if fitted) are active, with remote alerts where possible.
🔸Ask marina staff or a trusted neighbour to do a quick walk‑by periodically.

A few minutes of preparation now can prevent a costly claim later, especially when you’re not around to catch an issue early.

Stay safe, skippers ⚓

07/03/2026

🚤 Enjoy the freedom of boating knowing your insurance is as reliable as your vessel.

👀 For recreational boats, one overlooked detail in your policy can cause big issues at claim time ⚓ Here are the top reasons recreational boat claims get declined ❌

1️⃣ Poor maintenance or lack of maintenance – Check manufacturers recommendations for service intervals and regularly have your vessel inspected.
2️⃣ Unseaworthy vessel condition – Undisclosed or unrepaired damage can jeopardize claim acceptance if found to contribute to the loss.
3️⃣ Incorrect storage or mooring declared – Always advise us if there is a change in how you are primarily storing your vessel.
4️⃣ Modifications or upgrades not disclosed – Ensure you let us know if you have upgraded any substantial equipment and we can review your sums insured.
5️⃣ Excluded activities like racing or hire – Racing is generally excluded and will attract an additional excess if disclosed.

💡 A quick review of your policy today can save you a VERY expensive headache tomorrow.

👉 Not sure if your cover is shipshape? 📞Call our office today for a quick quote or risk review, we’ll help you make sure your pride and joy is properly protected.

Address

Conway House, 6 Island Drive
Cannonvale, QLD
4802

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Telephone

+61749467555

Website

http://www.oceanicmarinerisks.com.au/

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