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.