My water sports equipment gear is now covered as standard for up to $5,000, am I able to increase the amount?

Yes. If you have water sports equipment that is valued at more than $5,000, any amount that is above $5,000 will contribute to your overall agreed value. For example, if your boat is valued at $15,000 and you have $6,000 worth of water sports equipment, $5,000 of your water sports equipment would be covered under the included benefit, and the extra $1,000 would be included in the agreed value that contributes to how much you pay for your cover (which would now be $16,000). For more information please refer to your Product Disclosure Statement (PDS), and any applicable Supplementary PDS.