Faced with the increase in violent climatic events and the boats that come ashore as a result, a question arises for the yachtsman: how am I covered? When a boat sinks, or comes to shore, the insurance coverage depends on the contract subscribed. To see more clearly, we asked April Marine, a specialist in yacht insurance.
Third party contract
If your policy is "third party", the insurance will only pay for damage you may cause to another person. If you hit the pontoon at the fuel station, the damage to the pontoon will be covered by the insurance. But not the scratches on your hull.
In the case of the loss of a boat due to an anchorage that slips, only the cost of refloating or removing the wreck will be covered. In order to restore the site of the wreck. As for the repair of your boat, it will remain entirely at your charge.
All risk contract
In the case of an "all risks" insurance contract, in addition to the third party insurance, the insurer insures the value of the boat. Be careful with the exclusion limits that may be stipulated in the contract. For example, it may be indicated that a boat remains insured at anchor if there is always a watch on boardâeuros¦ The quality of the dead body may also be specified, regulated dead body or notâeuros¦ It is therefore necessary to read the contract in detail to know what you are protected for.
Regarding the value of the boat that will be reimbursed, April Marine bases itself on the "expert's opinion" value. The objective of the insurer is to financially restore the insured's assets to the state they were in before the loss. The insured can then afford to buy a boat identical to the one he owned before the accident.
State of natural disaster ?
The declaration of a state of natural disaster does not affect yachting contracts. Indeed, in case of a natural disaster declaration, it is no longer the insurers who reimburse, but a fund created for that purpose. However, yacht insurance policies do not contribute to this fund.
In case of rental ?
If a rented boat runs aground, the rental contract will be binding. It is a contractual relationship between the lessor and the lessee. In most cases, the hirer will lose his deposit within the limit of the insured's deductible.
Summer temperatureâeuros¦ extended processing time
Recreational boat insurance claims departments are always overworked during the summer months when boats are more heavily used. Even though the teams are all hands on deck, the summer storms add to a surplus of requests from policyholders.
Lionel Boismery, director of April Marine explains: " This summer 2022, the storm - hurricane? - that occurred in Corsica will further saturate the claims department. It is therefore automatically longer to process claims. At April Marine, we have had to call on reinforcements from other departments in order to respond to all requests as best we can. This is all the more important since many policyholders call with enormous psychological distress. They were afraid for their lives! We do not experience this situation when we cover winter storms, in which we only have to deplore material losses. Here, we also have a strong role to play in supporting our policyholders. "
