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Boat Insurance

Boat Insurance

We recommend to the policyholder, in order to receive benefits of all the guarantees of the policy, to consider some relevant aspects before and after contracting the policy:

  • The policy is non-transferable if the vessel is sold or transferred to new ownership, this policy will become cancelled from the relevant date.
  • As soon as you become aware of an incident that may lead to a claim, you or your legal representatives must tell us immediately, and provide us at your own cost with all the information and help we need.
  • If an incident happens, you must forward us, immediately and unanswered, any writ, summons or other legal documents served on you or your family, in connection with any claim or legal liability resulting from injury or damage.
  • You cannot discuss, admit, reject or negotiate on any claim with anyone without our written permission.
  • Where fraud (including exaggeration) is detected, claims will not be covered and we may refer it to the police for criminal prosecution.
  • Once we have made the payment for a claim, we will have no further liability for it.
  • If any loss, damage or liability which you are claiming is covered by any other insurance, we will pay only our proportionate share of that claim.
  • You may cancel this policy at any time during its term. Any refund of premium will be made from the date we receive your command. Provided no claim or loss has arisen in the period of insurance, we will return part of the premium calculated on our rates for the unexpired period of insurance.
  • We may cancel the policy by sending you a registered letter giving you 7 days’ notice. We will refund the appropriate proportion of your premium on a pro-rata basis from the date of our letter.
  • If we disagree about the sum to be paid under this policy, you and we have the right to refer to arbitration. We will inform you of this option and you must then write and tell us if you want to proceed. An arbitrator will be appointed in accordance with the statutory provisions. The distribution of the expenses of the arbitration will be determined by the arbitrator. The making of an award is a condition precedent to any right of action against us. Arbitration procedure does not restrain you from appealing against the decision in a court of law.
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