We recently enriched Premium Yacht Insurance portfolio with new, very interesting products which we offer in cooperation with renowned European marine insurance specialist, Pantaenius Group. Therefore, now we would like to present more details about exciting new charter insurance, especially after our team has undergone special education under supervision of Pantaenius experts. You can find out many interesting facts about this insurance, what does it exactly include and serve for.
At the beginning it is important to say this insurance is intended exclusively for charter guests or professional skippers, and are valid for skipper and up to nine crew members or guests. Its extensive coverage includes numerous risks that may occur during cruising with motor or sailing boats in charter. This insurance is very interesting and useful because it ensures that relaxed holiday at sea does not convert to traumatic experience with painful and expensive consequences.
There are four different packages of Pantaenius charter insurance: Basic, Silver, Gold and Premium, and all four include skipper's liability insurance for damages to other boats and harbour installations, including even damage arising from gross negligence on the chartered boat and not covered by the lessor's liability insurance.
Price differs depending on the package, which also vary by coverage. Packages Basic, Silver and Gold include 3.000.000 euro of sum insured for liability, personal injury and/or property damage, while Premium package includes sum of 5.000.000 euro. All four packages provide amount of 250.000 for pecuniary damages, 50.000 euro for security deposit in case of temporary seizure of the boat in foreign harbour, 20.000 euro for follow-on charters (loss of revenue), as well as 1000 euro for hotel and transport costs in case of accident.
This insurance is also unique and different from competitive products by the fact that all the packages include trip cancellation costs insurance (for example in case of bankruptcy of charter agency or lessor's company) with maximum total indemnification of 10.000 euro for first two packages. Gold and Premium packages provide higher amounts of 15.000 and 25.000 euro, and besides that also include travel abroad health insurance, transportation cost and funeral expenses of up to 12.000 euro. Premium package additionally provides personal accident insurance up to amount of 150.000 euro for disability or 75.000 euro for death benefit. It also includes salvage costs up to 50.000 euro.
It is interesting that all the packages except Basic cover charter deposit insurance (bond insurance) for the amount of 1500 euro within Silver package, 3000 euro within Gold and 5000 euro within Premium package. Apart from mentioned coverage, for small surcharge it can be purchased additional coverage in the amount of 3000 euro, which means you can also have deposit insurance with Basic package or completely independent of any package. Furthermore, with an extra, little surcharge each package can exclude deductible franchise - which means in case of trip cancellation deductible will not take into consideration but the whole amount will be refunded.
For any additional information and purchase of charter insurance we are available on our telephone numbers or via e-mail - send the inquiry.