Sailing Boat Insurance

Insurance helps you protect yourself against risks. The types of insurance that you need will depend on what you need to protect.  Boat Insurance can typically be split into two types, Hull and Third Party Liability. We generally recommend that boat owners insure themselves against both the liability risks arising from the use of their own boat (Third Party Liability) and loss or damage to the boat itself (Hull). You may, of course, decide not to take out a Hull Insurance and cover the financial consequences of any damage to the boat yourself. In these cases, we would recommend, as a minimum, you take out Third Party Liability insurance. 

Sailing Boat Hull Insurance: This type of insurance protects you against costs arising from loss or damage to your boat.  The Pantaenius Sailing Boat Cover insures your boat against all risks and is based on an Agreed Fixed Value. With an Agreed Fixed Value policy, the value of the boat is agreed between insured and insurer right from the start and that’s what is covered in the event of a total loss whereas some insurance providers will only offer market value or reserve the right to replace the boat with similar. Most boat hull insurance policies will have an excess. An excess is the amount you agree to pay towards any claim you make.  Amounts differ from policy to policy as does the application – so if  comparing two policies, one possibly with a higher excess than the other, look to see what type of claims it does or does not apply to. 

Sailing Boat Third Party Liability Insurance: Unlike with motor, there is no legal requirement to have marine Third Party Liability Insurance. However, having this type of insurance makes sound financial sense as it will protect you against any third party liability for injury or damage caused by you or your sailing boat. The consequence of damaging a jetty, blocking a channel or water pollution can quickly bring signification financial burden should you not have the appropriate insurance in place. 

Other insurance products available to sailors: Hoisting sails, reefing jibs, adjusting sheets and anchoring are just a few of the physical jobs involved in sailing and of course, are not without risk to those on board. A Personal Accident Insurance which specifically covers boating accidents and pays a sum as compensation for permanent disability or death should therefore be considered.  You may be thinking ‘surely sailing accidents are covered under my Third Party Liability policy?’ It is worth remembering that your Third Party Liability policy will only cover those amounts for which you are legally liable to pay. If a fellow crew member, on board, is a casualty of a boating accident for which you are not to blame and sustains a permanent disability, he/she will be unable to claim under your Third Party Liability insurance. Pantaenius offers a dedicated Personal Accident Insurance policy. Not only does this policy pay a sum as compensation for a permanent disability or death it also includes a contribution towards emergency medical expenses, search and rescue costs and other benefits following a boating accident.

Sailing Boat Legal Expenses Insurance helps the boat owner get access to legal support when they need it. The Pantaenius Marine Legal Expenses policy offers you protection by covering the legal costs resulting from a range of legal disputes, including contract disputes relating to servicing or repairing your boat as well as buying parts or equipment for it.

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