Marine vessels insurance
January 10, 2018
Sea vessels insurance is an area of insurance services aimed at covering any risks that may arise during water transport operation and movement. This concept combines insurance of yachts, cargoes, property, life and health of passengers and crew members, the shipowner’s liability to third parties.
Marine insurance features
The insurance contract can be signed for one year, for six months or for a specific voyage. If you want to minimize the risk of any adverse events, it makes sense to choose a marine CASCO. It has the highest price, but involves compensation for ship and property damage, if it suffers from:
- Sea natural disaster;
- Accident on board;
- Intentional wrecking;
- Losses from piracy;
- Unexpected damage of the hull;
- Negligence of the ship’s crew;
- Volcanic eruptions, lightning and other technical, human and natural hazards.
Where to insure a yacht?
When planning to go on a business trip or on an entertaining sea voyage on a mega-yacht, it is important to make sure that you have an insurance policy and it is valid. If you need to arrange yacht insurance, contact reliable and trusted professionals in the insurance market. This is a guarantee that the insured event will be considered objectively, and the payments will not be long in coming.