Boat and Yacht Insurance
The sea should not be treated with fear, but with respect and safety. Nothing can be compared to the feeling of tranquility and freedom that someone feels whilst traveling the seas on a boat. Our country, which has over 100 islands, is an ideal location for the Greeks but also tourists that want to enjoy a holiday or leisure ride or even water sports with a boat. Like car insurance, boat and yacht insurance is compulsory by law since 13/1/2000 for cover against Third Party liability but also for sea pollution, by law 2743/99.
Boat and Yacht insurance is provided by many insurance companies, either from Greece or foreign companies and is based on English Marine Law, Institute Yacht Clauses 1/1/85- CL 328.
At Delta Insurance Consultants, irrespectively of the characteristics and type of your boat, sailing boat – speed boat – rib – yacht – jet ski etc., while in use or laid up, we can provide you the insurance cover you require, according to your needs and financial potentials.
For legal entities boat owners, boat manufacturers, boat clubs, educational boats, boat management companies, or big fleets, please contact us.
Indicative covers that are provided with boat insurance:
- Body injuries against third parties
- Material damages against third parties
- Sea pollution
- Liability towards/ from skier
- Theft whole/ partial
- Own damages coverage
- Falling of outboard motors into the sea
- Mechanical damages
- Damages to the propulsion system of the boat
- Legal protection
- Theft of personal items
- Malicious acts
- Medical assistance – emergency medical transport
- Cover when laid up
- Coverage during transport of the boat
- Cover for the trailer
- Cover for the boat damages in races (race clause)
What types of boats can we provide insurance coverage:
The types of boats that we can provide insurance coverage are:
- Tourist boats
- Jet ski
- Training boats
- Boats for personal use
- Commercial boats (with crew or bareboat)
How much does it cost to insure a boat/ yacht:
The premium of a privately owned boat, for third party liability, is usually calculated according to the boat’s horsepower and/ or boat’s dimensions. Indicatively, the premium of a motorboat with horsepower up to 25hp starts from 24€/ year (Atlantic Union Insurance) – motorboat with horsepower up to 100hp starts from 55€/ year (Europe Insurance), while for a boat with up to 200hp the premium starts from 68€/ year (Europe Insurance). Regarding the insurance of sailing boats for private use, the insurance premium indicatively starts from 43€/ year (for boat up to 6m – Interlife Insurance), for a sailing boat up to 10m the insurance premium starts from 70€/ year (Minetta Insurance). Additionally, the cost of a private insurance Jet Ski, indicatively, starts from 160€/ year (Interamerican Insurance).
For boat/ yacht owners who wish, in addition to the simple liability coverage, to cover own damages of the boat (mixed coverage), then the calculation depends on the type of boat – the horsepower – the dimensions, the value and the desired coverages.