Using a broker to get the best deal on your yacht insurance
Yachting is a term that encompasses many aspects related seafaring activities; from mere family fun on the water, to high risk round the world racing. Therefore, yachting insurance brokers must be fully informed when advising clients regarding exactly what a craft will be used for. They must determine whether a policy will extend cover for a recreational hobby, or for involvement in a competitive sport, but there are associated risks attached to any aspect of yachting.
Expert and qualified advice is needed regarding insurance of this type. It is accepted there are naturally inherent risks when considering water related insurance, especially seagoing. These include being swept over or falling overboard, accidents involving tackle and sustaining injury by a variety of methods. The injuries sustained generally relate to broken bones, or to the head and spine. Other health related conditions could include hypothermia, sunburn and heat stroke, eye damage and even drowning. It is therefore, obvious why yacht insurance brokers provide advice regarding proper insurance cover crucial to any form of yachting.
In the negotiating of any form of yachting insurance, a broker must determine the precise nature of the policy cover needed. There may be conditions that require negotiation related to terms excluding theft and any vandalism to the craft and natural disasters for example, tropical storms. Coverage connected to transporting the yacht is also of primary consideration, with the potential of cover not being extended to a boat trailer or other transportation vehicles.
Yachting insurance brokers must ensure a policy meets the fully needs of their clients. Comparisons may be drawn between yachting and auto insurance, with both types having specific deductibles and a financial threshold, below which you cannot claim compensation. Your broker has the responsibility of determining the limit of that threshold.
An integral part of a policy that will be considered by your broker relates to personal injury; for the crew and any on-board guests. In certain instances, a broker will negotiate policy conditions that will meet the specific needs of a client. Another aspect that would be addressed, involves any damage that is sustained in foreign ports or on international waters. With the wide and varied range of circumstances involved in yachting, your insurance cover assumes highly significant importance and accordingly requires professional brokerage advice.
Get advice and quotes from boat-quote, one of the UK’s leading yachting insurance brokers