Do you own a pleasure yacht or are you thinking of buying one? One of the first things you need to consider is insurance for your yacht.
Yachts are marine vehicles. Therefore, just like a car or a motorbike, they need to be insured for damage to people or property that they may cause.
The chances of having a claim on a pleasure yacht are very similar to those of having a claim driving a car.
The insurance must include civil liability cover, with the possibility of taking out extra cover such as damage to the yacht itself, rescue, etc.
Sailing without the corresponding insurance can lead to fines of up to 180,000 €, and it is not worth taking the risk as these insurances are usually very cheap.
In the event that the yacht also participates in sporting competitions, another type of insurance should be taken out to cover damage during competitions, trials and training sessions, the latter being a complementary insurance to the former.
Insurance for recreational yachts is essential in order to be able to enjoy your yacht without worries, and to provide security and peace of mind when sailing.
If you have a yacht or you are thinking of buying one, do not hesitate to contact us and we will advise you in the best way possible.
Boracay Brokers, insurance by nature.