EXPLANATIONS OF PREMIUM YACHT INSURANCE LIABILITY INSURANCE CONDITIONS OR THIRD PARTY LIABILITY INSURANCE
This third party liability insurance covers the damages that You are liable for, and which are caused to other persons or their belongings by You or authorized user of Your boat. Our liability insurance policy covers both damages to persons (non-material damage) as well as damages to their belongings, i.e. boats, the same as within car insurance (material-damage).
What is the difference?
The Croatian legislature passed a law under which vessels should have obligatory liability insurance of the skipper exclusively and only for damages to the bathers and divers, and to limit of coverage determined by Government. Often insurance companies (other than us) make contracts in such a way, and therefore such insurance does not cover damage to the vessel with which You had a collision and to people on board that vessel, but it will be your responsibility. Premium Yacht Insurance third party liability insurance policy covers damages to persons and their belongings.
We warn You that having such obligatory liability insurance is required in Slovenia, Greece, Spain, Italy and Montenegro. In territorial seas of these countries You are obliged to have with You the original documents, also in these languages, as a proof of having compulsory insurance. Such documents we are delivering to You each year along with insurance policy.
We recommend that You make liability insurance with the same insurance company as for hull insurance (casco). Namely, often together with damages resulting from liability arise also damages covered by hull insurance (casco). By doing this it excludes possible misunderstandings between the "insurer of liability" and "insurer of hull (casco)".
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