Dubai Yacht And Pleasure Craft Insurance
Yacht and pleasure craft insurance in Dubai covers any loss or damage caused to your ship or boat in the event of an unforeseen circumstance
. However, the type of coverage will depend on the insurance company you choose.
While choosing an insurance cover for your yacht or pleasure craft it is essential to keep the following points in mind:
1.If the maximum designed speed of your pleasure craft is more than the maximum designed speed covered by the insurance company, you should contact them to understand all special requirements. A customer focused company will try to accommodate you by customising an insurance cover suitable for your pleasure craft. The marine underwriting team of the insurance company will be able to assist you with your special requirements.
2.An insurance company will always consider the age of the boat or ship while underwriting the policy. Most policies cover pleasure crafts that are up to seven years old., The insurance company will ask you to provide a out-of-water condition survey report if the ship or boat is more than seven years old. This survey has to be carried out by an independent marine surveyor. Contact the marine team of your insurance company for information on marine surveyors.
3.Sailing experience of the owner/professional crew is also an important risk factor with most insurance companies accepting clients with over 5 years sailing experience (self declared) on similar type of vessels. This does not mean that you should have owned a boat for over 5 years but regularly used one over such period.
4.Claims/loss experience is another critical factor with discounted rates on offer for the clients who have been claim free for three years or more.
5.Your yacht and pleasure craft insurance cover indemnifies/pays for the loss of life or personal injury (to a third party) or loss of or damage to third party property caused by the use of your pleasure craft. The policy also covers liability for death or bodily injuries sustained by persons or damage to their property whilst travelling on your pleasure craft.
6.Policy extensions to cover personal possessions on board, life rafts and boat trailers can also be taken at additional premium.
7.It is vital to remember that the policy will cover loss or damage to your pleasure craft only when used by you or at hands of a professional crew (as appointed & declared) and NOT when it is let out on hire.
8.If you decide to sell your yacht or pleasure craft before the expiration of your policy, the policy will be cancelled and subject to nil claims in the policy period the premium will be refunded to you on a pro rata basis. Some companies have a minimum premium retention at time of cancellation.
So get your
Yacht Insurance in Dubai today from a trusted company who understands your passion and needs.
by: Insurance
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