Yacht and Superyacht Insurance
Lockton has combined the talents of both our Private Client and Marine colleagues to provide seamless, comprehensive Yacht and Super Yacht Insurance programmes to meet the complex needs of Yacht ownership and protect these high value assets and their staff, covering:-
- Hull and Machinery Insurance
- Tenders and Submersible vessels
- War Risks and Piracy
- Protection and Indemnity/Third Party Liability Insurance
- Pollution Liability (COFRs)
- Personal Effects Insurance
- Medical and Personal Accident Insurance for your crew and guests
- Career Ending Insurance for Professional Yacht Captains
- Kidnap and ransom
- Berth Liability Insurance
- Insurance for Boat Builders
- Insurance for Boat Transporters
- Mortgagees Interest Insurance
- Cyber Risks
We know it's a competitive Market, with Insurance Brokers and Insurers, so when protecting against the specialised complex exposures of vessels it's important you use a broker with a dedicated Yacht Practice, to assist you with this process.
How Can We Help You?
Check the claims instructions on your insurance policy, most Insurers and some Brokers, provide a 24 hour emergency response service. The sooner the insurer is informed the sooner they can instruct a specialist to assist you.
- Notify the Insurer with all reasonable dispatch after you become aware of the loss.
- Keep a log of events
- Preserve the evidence
- Take photos
- Promptly report any theft or malicious damage to the police at the port or place where the incident occurred
- Take names and contact details for Third Parties and Witnesses
- Be careful who you speak to, even if there is no loss of life, distasteful 'trial by media' will occur long before the investigation has been completed.
- Do what may be reasonably expected of you in order to avert or minimise the loss.
- File a proof of loss and interest and/or receipted bills in case of a partial loss, within 180 days from the date of loss.