Deposit Insurance for Chartered Yachts

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The phenomenon of forgetfulness occurs when you are sailing with your chartered yacht and your friends who even make the cruise special, on the waters of your dreams. It is the feeling of freedom which makes us forget that the chartered yacht is not our own.

And how quickly it can be happen? A sail breaks, the screw touches the ground or our holiday yacht gets a few scratches. Understandably, the yacht owner secures himself/herself against unpleasant surprises and charges a nominal fee, the deposit. If he/she will find only the smallest damage after your return from the dream vacation, he will partly or fully retain this deposit. For this case you are well protected by a charter deposit insurance. Take advantage of our attractive deposit insurance for Skipper and Crew.

Details for the charter deposit insurance

  • Insured is the partial or total retainment of the charter deposit by the charterer due to a loss or a damage at the yacht chartered negligently caused by the skipper or by the crew.
  • The scope is worldwide
  • An annual coverage from only 13 % of the most expensive planned charter.
  • A cover for a voyage from only 7 % of the charter sum.
  • The regatta risk can be optional co-insured for sailing yachts.

Simple pricing model

To determine the insurance premium for our charter deposit insurance only two information are necessary:

  • Shall it be a cover for a voyage or an annual coverage?
  • How much is the deposit sum? (for an annual coverage the most expensive planned deposit sum)

If the data are known you can just multiply the depsoit sum with the following percentage and you will get the insurance premium.

  Cover for a cruise Annual coverage
Deposit of up to 3.000 € 8% 15%
Deposit of more than 3.000 € 7% 13%
Minimum premium 75,- € 100,- €
Regatta risk plus 15% plus 15%

Sample calculation:

A voyage with a deposit of 2.750 € without regatta risk:
2.750,- € x 0,08 = 220,- €
The insurance premium to be paid is 220,- €. If the regatta risk shall be included the following calculation is valid:
2.750,- € x 0,08 x 1,15 = 253,- €
The insurance premium for the charter deposit insurance including regatta risk would be 253,- € for a voyage.

A voyage with a deposit of 900 € without regatta risk:
900,- € x 0,08 = 72,- €
The calculated premium is below the minimum premium. That's why the premium is 75,- €.