A comprehensive insurance policy for owners of pleasure craft.
Through Laiki Insurance we will offer you the option to cover your vessel either at sea or when laid up as well as legal liability cover to third parties on a result of the use of the vessel.
What does the Yacht and Motor Boat Insurance Cover?
The Policy covers:
- Loss of or damage to the vessel, i.e. the hull, machinery, boat(s), gear and equipment caused by an insured peril according with the Institute Yacht Clause 1/11/85 while in commission at sea or on inland waters or while laid up and out of commission (including lifting, hauling out and launching)
Optional cover is offered:
- For the Insured’s liability at law to pay compensation and claimant’s costs and expenses to third parties in respect of loss of or damage to any other vessel or property and in respect of loss of life, personal injury or illness, arising from accidents.
What does the Yacht and Motor Boat Insurance Policy exclude?
The policy is subject to certain exclusions, some of which are:
- War, acts of terrorism, loss, damage or liability arising from nuclear weapons material and radioactive contamination premeditated act.
- Ship’s boat having a maximum designed speed exceeding 17 knots.
- Consumable stores, fishing gear or moorings, personal effects.
- Sails and protective covers split by the wind.
- Liability of incurred by any person engaged in water skiing (applicable only if the optional cover is elected).
Who can Benefit from the Pleasure Craft Insurance?
Owners of pleasure craft
Some Advantages of the Pleasure Craft Insurance
- Option to insure liability to third parties.
- Cover while the yacht is in commission at sea or while laid up and out of commission.