We provide cover to Individual owner of pleasure craft within the country excluding the racing boats. The extended cover can be offered for Personal Effects, Personal Accidents and also cover for whilst in transit.
Yachts & Boats insurance covers Hull & Machinery, Collision and Legal Liabilities.
Hull & Machinery Insurance provides limited or comprehensive insurance for loss or damage to vessel against loss or physical damage. Coverage extends to all equipment that is mounted on the boat or used to operate it safely. Such equipment includes horns, lights, dinghies, boat & motor covers, signaling devices, depth finders, ship to shore radios, and boat furniture. Most policies also extend coverage to trailers that are designed for and used to transport the boat.
Collision & Legal Liabilities covers damage where an insured is legally obligated to pay arising out of the ownership or use of a covered vessel.
Boats can be insured for an agreed value amount, or, on an actual cash value (market value) basis. Engines are usually insured for replacement cost.Perils covered are Losses and/or damages caused by:
Premiums are based on age, construction, navigation equipment, purpose of usage [private or commercial], passenger capacity, previous loss history etc.