Yacht Charter Travel Insurance (2024)

A nautical charter travel insurance is always a good choice.

Your Boat Holiday is aware of how much the unexpected in life can change programs, sometimes only transforming them in part, sometimes completely distorting them.

For this reason, we feel the need to provide our customers with insurance coverage that allows them to spend a peaceful and carefree holiday on a yacht.

Hence our collaboration with Pantaenius, leading insurance company in the European market as regards insurance related to the yachting world, in order to offer our customers complete and reliable insurance packages.

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Yacht Charter Travel Insurance (1)

What is the added value of full insurance coverage?

Taking out insurance when booking any type of boat charter offers important guarantees.

In general, the main objective of those who rent a boat is to have fun by spending time in lightness. So why not immediately eliminate a whole series of worries that may be encountered before and during your sailing trip? Examples are the loss of the security deposit already paid or part of it due to the cancellation of the trip due to an unforeseen event or the interruption of the charter already in progress for family, health, or work needs.

The main advantage of taking out an insurance policy is to be reassured, that is to guarantee the peace of mind of renting a boat and enjoying your holiday without worries.

Yacht Charter Travel Insurance (2)

Let’s go into detail, what risks can be included by subscribing to an insurance package?

It is essential to have complete insurance coverage and in this context, the Pantaenius yacht insurance offers various possibilities. So, depending on the level of coverage chosen, your package can include the following insurances:

  • Trip cancellation;

In addition to covering expenses due for possible cancellation of the rental, any outward and return travel expenses of the skipper and crew members are also covered or, if the trip is interrupted after it has already begun, also the additional costs incurred for the return trip and the residual part of the rental cost. The charter costs are then reimbursed for the remaining unused days.

Finally, with an additional premium, it is possible not to apply the policy deductible and also add the possible insolvency of the agency or the rental operator.

  • Medical expenses abroad;

In addition to the costs for medical treatment, medical treatment, and hospitalization, the health insurance for travel abroad reimburse the transport by ambulance in the country of origin or the costs of repatriating the body in the event of death.

  • Accidents;

Accident insurance provides coverage in the event of death and disability, including some guarantees that are generally not provided by general accident insurance. The skipper and crew are insured during the private use of the rented or leased yacht, the tender and equipment for water sports as well as land trips lasting up to 48 hours.

  • Security deposit;

The deposit insurance covers the financial risk in the event that the lessor retains the security deposit, in whole or in part, regardless of whether this is justified or not.

With the additional “Security Deposit Plus” premium, it is also possible to ensure the security deposit in the event that this sum is not sufficient to cover any expenses incurred.

  • Civil liability of the skipper and/or crew;

Skipper’s civil liability insurance covers damage caused to third parties during the use of the chartered boat or its tender by the skipper and crew members. Are included in the insured risks also damage to other vessels and to port facilities or the dock. Are included even damage resulting from gross negligence on board the boat and not covered by the lessor’s insurance. Covers for the cancellation of charters, confiscation, hotel expenses, transportation, and financial losses.

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Yacht Charter Travel Insurance (3)

What about Covid-19? No Coranavirus exclusion

Through Yout Boat Holiday, the travel insurance also offers coverage related to Covid-19 illness in its travel cancellation policy, without further outlay by the customer.

In the unfortunate event of Covid-19 cases on board during the voyage (or any other serious illness), the travel interruption costs are also covered, as well as the additional costs for repatriation and also those for the entire crew if one or more members should test positive.

Yacht Charter Travel Insurance (4)

Who is Pantaenius?

With over 50 years of experience in the insurance sector and various offices throughout Europe, Pantaenius guarantees an exclusive and efficient service in claims management, acting quickly at the very moment of need.

Thanks also to a large and widespread network of professionals throughout Europe, Pantaenius has become the market leader in pleasure boat insurance with thousands of insured and satisfied customers.

Yacht Charter Travel Insurance (5)

24/7 assistance is always guaranteed

Choosing travel insurance through us means relying on competent professionals who can provide an immediate response to your needs while remaining at your side in a concrete and real way. This is thanks to the continuous availability 24 hours a day and 7 days a week.

Contact now YBH Charter Brokers:

You can contact us by sending an email at ask@yourboatholiday.com or by phone, calling +39 33436 00997, available also on WhatsApp for both calls and texting.

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Yacht Charter Travel Insurance (2024)

FAQs

What does yacht insurance cover? ›

Typical causes of loss that are covered include: weather-related perils such as wind, rain, hail, lightning and wave action; fire; loss or damage caused by theft or vandalism; and collisions with docks, submerged or floating objects or other boats.

How much does it cost to insure a 50 foot yacht? ›

More recent estimates in 2023 and 2024 put average costs of boat insurance somewhere between $300-$600/year for most boaters. However, real world costs can vary, and it is not uncommon for larger yachts to cost upwards of 5-6% of the total valuation of the vessel for the year.

How much do you tip on a private yacht charter? ›

Luxury Boat or Yacht Charter

Generally, people tip around 10-20 percent of the charter's total cost. Note that the captain might distribute a percentage of the tip to the rest of their crew, depending on their contributions and duration of service.

When you charter a yacht, is everything included? ›

Although a yacht will have a base charter fee, this may or may not include additional expenses such as food and fuel and this is subject to the terms and conditions within the charter contract. There are various types of charter contracts and which one applies to you will depend on where you wish to cruise.

What coverage is not included under a yacht policy? ›

Typically, a yacht insurance policy will not cover regular wear and tear, mold damage, animal or insect damage, or malfunctioning or broken machinery. Coverage for personal property and unattached equipment like fishing gear may also be limited or excluded completely.

What does boat insurance not cover? ›

What does boat insurance not cover? Boat insurance generally won't cover maintenance or general wear and tear, including gradual weathering and deterioration, insect damage, mold, or damage from animals or marine life.

What is the deductible for yacht insurance? ›

Boat deductibles are usually determined as a percentage of your coverage and can range from 1% to 10%, depending on the type and speed of the boat. For example, if your deductible is 1% of $20,000 of coverage, you would pay the first $200 of the loss.

How much does it cost to own a yacht per year? ›

Owners can expect to spend about 10-15% of the purchase price annually on operating and maintaining a yacht. That's $1-1.5 million a year for a $10 million yacht. The bigger the boat, the more crew and salaries you need. There are also other crew costs, like medical and liability insurance, training, and uniforms.

How much does it cost to maintain a 60 ft yacht? ›

"For a yacht that's 60-feet, later model year, and with average usage, you can expect to pay $60,000 per year in preventative maintenance costs," said Cooke. "And by average use I mean 150-200 hours per year. But that's assuming nothing goes wrong and has to be replaced.

Do yacht charter guests pay for food? ›

With a crewed yacht charter, any food and beverages throughout your vacation will be covered in your Advanced Provisioning Allowance (APA). Paid before the charter, this sum covers any additional costs incurred throughout the vacation, including fuel, berthing fees, and food and drink.

Are yacht charter rates negotiable? ›

The charter fee may also fluctuate depending on the period of your yacht rental. Some yachts have high and low season rates. Obviously, the charter fee tends to be higher and less negotiable in the summer peak season as there is much more demand.

Do yacht owners tip their crew? ›

Usually it is rare to see private yacht owners giving tips, but it is not rare to see their guests, friends or family coming for a few days at no charge and then compensating the crew if they had a great trip.”

What is not included in a yacht charter? ›

Plus Expenses Charters – Rates for larger motor yachts do not include running expenses, which must be paid separately. For these luxury charters, the base price is for the yacht only. Additional expenses, i.e. food, bar, fuel, dockage, port taxes, and other expenses, are charged separately.

How much is a 3 day charter on Below Deck? ›

A yacht that is $175,000 a week, breaks down to $25,000 a day. At 50% that's $12,500 a day. Split between 6 people, that is $2,083 per day. A three day charter would be $6,250 per person.

When you charter a yacht, is alcohol included? ›

An all-inclusive charter means just that — everything you need is included in one set fee. This includes your yacht of choice, your captain, your chef/hostess, gourmet food, beverages (alcoholic and non-alcoholic), and many water sports activities that are personalized for you and your guests.

What are the exclusions for yacht policy? ›

Most boat insurance policies exclude insects, animals, and mold. This means you won't be covered if your boat is damaged by a raccoon sneaking on and ransacking the place or if termites, zebra mussels, or barnacles eat away at your boat.

Does boat insurance cover hitting a rock? ›

In that case, your insurance policy should cover damage caused by hitting a rock as long as you opt for full coverage insurance. Your insurance company will reimburse you so that you can repair the boat, or they will replace it entirely.

What all is covered in marine insurance? ›

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.

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