Deposit Insurance for Chartered Yachts
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
Covered is the partial or total withhold of the charter deposit by the owner/charterer due to loss or damage at the yacht culpably caused by the privat policy holder or the crew.
Insurance benefit: The compensation of the damage in money not exceeding the insurance sum. The deductible is 10 % of the deposit however, at least 100,- EUR. If the regatta risk is included the deductible is 15 % of the deposit however, at least 300,- EUR.
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 %|
We also charge a one-off policy fee of 6.50 EUR including the statutory insurance tax.
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,- €
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,- €.