Check what is covered by your yacht insurance

Boat insurance checklist

With us it`s always a clear "Yes"!


How is the insured amount calculated?

  1. Is it also agreed that the insured sum is an irrevocable fixed amount - without restrictions such as new price-purchase price-current value?
  2. Is the fixed amount valid without time restrictions, i.e. for an indefinite period?
  3. Is the recourse to underinsurance excluded?
  4. Does your policy cover damage without a deduction for "new for old"?
  5. Are the costs of damage minimisation (e.g. salvage at sea) fully compensated?

What is also included under the cover?

  1. Are the costs of removing wrecks also covered up to EUR 1.0 million?
  2. Are winter, boatyard and repair lay-up periods also covered along with winter storage, taking ashore and launching (slipways, cranes, etc.)?
  3. Are trips outside of the navigational area specified in the policy also covered?
  4. Is the entire fixed and loose nautical equipment covered under your policy?
  5. Is the inventory, equipment and accessories also included when, for example, it is not on board but in a secured room in your home?
  6. Can road trailers and winter bearing blocks also be insured?
  7. Are personal effects automatically insured at no extra charge up to 2% of the insurance cover, max. EUR 2,000.00?
  8. Is osmosis damage within the first 48 month after yacht manufacture also insured?
  9. Is machinery breakage cover within the first 36 months after yacht manufacture also included?

What bonuses are there for you?

  1. Can you expect a bonus up to 40%?
  2. Do you keep your no-claims bonus if you have an accident after several years during which no claims are made? (Do you have a no-claims bonus saver?)
  3. Is the agreed deductible reduced by one-half if you have a no-claims period of at least six years?
  4. Is the reclassification to a higher premium class waived for damage caused by lightning and third-party fire damage?

What`s in the small print?

  1. Many hull insurance policies list special specific risks (e.g. fire, lightning strikes, explosions, stranding, breakage of masts and propellers and drive shaft damage etc.). Does your policy provide real all-risk cover?
  2. Does your policy also cover damage such as short circuits, excess voltage, glass breakage, martin bites during winter storage or binoculars damage due to falling in a yacht stored in a tilting position?
  3. Is the tearing of sails also covered even where this is no storm?
  4. Does your policy also cover damage caused by strikes, riots and civil commotion of whatever type, as well as breaches of the peace and looting?
  5. Are regatta risks also automatically insured?
  6. Are the costs of overnight stay or return to the home port also insured where the yacht has sustained damage covered by the hull insurance?
  7. Is the agreed excess waived in cases of total loss, lightning strike, fire damage caused by third parties, damage caused during collisions for which third parties are fully responsible, damage caused by burglary, if the insured vessel is located in a secured building (and this has been broken into) and damage to personal effects?
  8. Are also the items secured to the deck or dinghy insured against theft?
  9. Are you sure that your policy does not contain any unclear exclusions such as "voyage and sea unworthiness", "inadequate equipment" or "adequate crew numbers"?
  10. Is the total loss amount only reduced by the residual value actually yielded by a sale?
  11. Is consequential damage caused by construction and material defects included in definition of damage?
  12. Where there is damage caused by wear and tear, is only that component directly affected excluded from the cover?

What other service is offered to you?

  1. Are there adjustors available to you anywhere in the world in the event that damage occurs?
  2. Can you meet your insurance broker at the big trade shows in Hamburg (hanseboot), Düsseldorf (boot) and Berlin (Boot und Fun)?
  3. Do you have access to a detailed website that can provide you with important tips and services?
  4. Do you receive personal advice - from the initial offer right up to the occurrence of damage/loss?
  5. Does your insurance broker also provide you with services over and beyond yacht insurance - such as commercial and private insurance policies etc.?
  6. Do you upon request get confirmation of a declared waiver of recourse against your wintering storage or harbour operator?

If you have answered just one of these questions with "NO" you should...