Charter insurance

Liability insurance for skippers, crew members and passengers on board

The master is the principal and responsible person on board the vessel, who operates the vessel, determines the route and anchorage or mooring, regularly monitors the weather forecast and uses his nautical knowledge to bring the vessel and crew safely to their destination. However, the skipper is only human and can misjudge a dangerous situation and unintentionally cause damage to the vessel or injury to crew members or even third parties. To minimise the impact on his financial situation, Premium Yacht Insurance’s liability insurance for skippers, crew members and passengers is available.

As the skipper is responsible for the vessel and crew with all his present and future assets, he supplements his insurance cover with this policy, which may not be specified in the terms and conditions of the vessel's liability insurance. Damage to persons and property is covered in accordance with the terms and conditions of the master’s liability insurance for sailing yachts and motor vessels for hire, and also includes claims for damages by the own crew against the master and other similar persons. In professional terms, the subject-matter of the liability insurance shall be the civil non-contractual liability of the insured person for damages for death, bodily injury, or personal injury and for damage to or destruction of third parties' property while the insured person was operating the vessel for a voyage for which he was duly authorised.

For an insurance policy, please contact us HERE.

Guarantee and deposit insurance in the event of temporary seizure of a vessel

For every skipper, the seizure of a vessel is like a worst nightmare and is becoming an increasingly serious problem, especially in Mediterranean countries. Namely, in the event of an accident at sea, in relation to actual claims, and often also possible future claims that the parties involved in the accident may establish on the basis of the master's liability, it may happen that the authorities seize the boat until the claim is settled, and this may take some time. In particular in the case of accidents with injured persons, the authorities may resort to criminal law measures. In such a case, for example, a surety may be used to obtain a temporary exemption from prosecution.

The skipper is insured in such a way that any sums which the insured person has to deposit in order to be provisionally exempted from prosecution must be paid in advance (criminal bail). The insured value is limited to a maximum of EUR 50 000 up to a maximum of EUR 200 000 and the premium starts at EUR 20. This type of insurance is subject to a contract of insurance against the liability of the skipper.

For a policy please contact us HERE.

Insurance against loss of deposit of the charterer (skipper, crew members and passengers)

The skipper or one of the crew members usually pays a fairly large deposit by credit card at the charter company's office before leaving the charter base but can otherwise take out insurance at a fairly low cost. The advantage of this insurance is that for a relatively low premium, all crew members can pick up the money at the charter base just before the start of the charter, which means a relatively small amount for each crew member.

In addition, some people do not want to leave blank credit card slips at the charter company office, so this is a very useful way of solving a sometimes-knotty problem. Deposit insurance can be taken out in advance or on the spot at almost all charter bases, and the insurance policy is then used as a guarantee in lieu of paying a deposit for the chartered vessel. The sum insured for a single claim/loss event can range from €500 to €3,000 and the premium starts at €61, together with a deductible limit of €50.

For a policy, please contact us HERE.