Boat Insurance

Insuring your boat

The Mersenne Yachts team will not only find your dream motor boat or yacht but will make sure that you are given the five star service you deserve including guidance on how to insure your boat and what coverage you should expect to pay. Nowadays, insurance for boats is more or less compulsory and many European countries will ask for evidence of insurance policies so selecting your insurance agency is a critical decision.

Here are some questions your assigned Mersenne Yachts consultant will discuss with you before recommending an insurance agency.

Question: Who will be selected as the owner of the boat and what will the boat be used for?

Insurance coverage will vary according to if the boat is registered in your personal name or in the name of a company. Furthermore, if the boat will also be used by third party groups and chartering this will need to be specified.

Question: How and where will you be securing your boat?

Mersenne Yachts clients will be asked to share their full berthing Laguna Marina address with their insurance agency.

Question: What are your emergency contact details?

Apart from your own personal contact details you’ll also be asked to select a back-up person in case you can’t be reached in an emergency therefore it is very important that you identify and inform the selected individual.

Question: How much manpower do you have?

If you’ve recently added new crew members then your insurance policy should be reviewed so make sure that the number you have recruited matches the designated number on your policy. Remember that the number of paid crew must be included within the liability coverage. Also your insurance agency may require the captain to be named in the policy. In this case make sure any crew changes are reported.

Question: What are your travel plans?

The Mersenne Yachts Crew will be able to help you identify navigation ranges as well as establish equipment lists and marina locations you intend to visit.

Question: Will you require broader navigational limits?

Don’t assume that coverage in one cruising ground automatically extends to others. Make sure to read your policy’s declaration page and confirm your limits which outline the area in which your vessel is insured. Remember a breach in your navigation warranty could void your coverage should a loss occur. Your assigned Mersenne Yachts consultant will be able to double check that your insurance coverage includes all the latest updates.

Prior to your first consultation meeting with your selected insurance agency together with the Mersenne Yachts crew you will discuss and decide on the value of your motor boat or yacht and provide valuations on equipment and trailer as well as establish if you’d prefer to invest in an additional insurance policy for contents on board. Also keep in mind that some countries you may visit will specify minimum levels of cover while others require a translation which your insurer should be able to provide so keeping in touch with the Mersenne Yachts team is highly recommended.

A standard boat policy provides wide insurance protection against:

• Accidental loss or damage your boat while it was ashore or afloat.
• To motors, electrical machinery and equipment as well as batteries and their connections
• Personal items used in connection with the boat
• Personal accident for yourself and other persons on board.
• Your liability to others

In the case of higher end policy covers the following may also be included:

• Legal costs you will incur following written consent from your selected insurer
• Emergency charges incurred up to the sum insured
• Sighting costs of inspecting the underwater part of the hull of the insured vessel after a stranding even if there is no damage
• Personal Accident Cover for you and your immediate family
• Traveling expenses you and your immediate family or guests on your vessel may have to incur to travel back to Malta

Boat insurance is a legal requirement whether you have a new boat or a used boat yet which level of insurance you select is entirely up to you. The Mersenne Yachts crew will be able to assist you from the initial consultation stages, recommend insurance agencies, share details of preferred rates for Mersenne Yachts clients and make sure that you make an informed decision.