Property, Navigator package - Casco Boat and Yacht Insurance

• CASCO boat and yacht insurance
• compulsory third party liability insurance for owners or users of motor boats
• voluntary third party liability insurance for owners or users of motor boats
• insurance for charter boats and vessels in regattas and sailboat races
• compulsory accident insurance for public traffic passengers [especially for charter boats]
• voluntary accident insurance for public traffic passengers
• insurance against vessel fraud or embezzlement during [charter boat] rental
• insurance against loss of income [gain] under [charter] concluded boat rental contract
• vessel land transportation insurance

• boat's hull [including deck superstructures and inbuilt elements in cabins and other enclosed spaces], helm, steering and anchoring devices, winches, masts and spars, ropes, riggings and sails
• main and/or auxiliary engine [including propeller], shaft, marine gearbox, accumulators, alternator and starter motor
• fixed nautical instruments, fixed serial equipment, accessories or inventory, ropes, lifesaving equipment and devices; position lamps; oars, fenders, standard tools and other equipment for the operation and use of vehicles
• non-fixed nautical instruments and equipment, support boats [including their own propelling engines]
• outboard machines and engines
• crockery, bedding, mattresses
• diving and sport fishing equipment and other similar equipment and inventory
• passenger and/or crew's personal belongings [baggage] can be separately insured and included in the cover

The NAVIGATOR package offers insurance against the following risks:

• marine accidents [collision, impact onto any immobile, hard, floating or submerged object, sinking or capsizing, stranding, hitting the bottom, and other exceptional external events associated with maritime navigation and inland waterway navigation]
• thunderstorm [including lightning strike]
• natural disasters, including tidal waves
• fire
• explosion
• burglary, theft and robbery
• burglary and theft of the vessel
• crash and impact of an aircraft, its parts or other objects
• accident during loading, unloading or relocation of equipment, gadgets, devices, stocks or fuel
• impact of a land transportation vehicle
• breakage of masts and/or spars
• breakage of mobile and immobile riggings
• malicious acts by third persons
• earthquakes and volcano eruptions
• burglary and theft if the insured items are in an enclosed and locked space inside the vessel [cabin, belowdecks] or in an enclosed and locked dryland repository

The insurance is also valid:

• when the vessel is not in the sea or water
• during summer or winter storage
• during layup
• during usual stays in a marina or shipyard for maintenance, servicing or repairs, including pulling the vessel out of the water and launching/sinking in all specified cases
• if the insured risk is realised as a result of the ship repairer's negligence, provided that the repairer is not insured under this policy

This insurance policy also covers:

• costs incurred on the vessel while helping or rescuing another vessel from danger
• costs directly caused by the realization of an insured case, if incurred up to a reasonable amount and if directly associated with the repair of the damage
• costs incurred by transporting the vessel to a port or repair workshop, if the damage could not be repaired at the current port or the repair would not be economically justified or expertly carried out
• expertise and damage liquidation costs
• costs of examining the bottom of the vessel after stranding, and if determined that the vessel was not damaged
• costs of paint removal and re-painting of the underwater section of the vessel
• costs of pulling the boat out of the water and dryland storage
• costs of removal for the wreckage or its parts, regardless whether these activities are performed following orders by relevant authorities or not, and regardless of the success of such activities

Temporary insurance begins at 00:00 on the first and ends at 24:00 on the last day specified in the policy, unless agreed otherwise.

If, at the moment of insurance expiry, the vessel is sailing, in danger or resides at a shelter port, the insurance is extended until the moment of its arrival at the nearest safe port [but no further than the destination port].

Voyage insurance for a particular voyage begins at the moment when the vessel hoists the anchor or casts off at the port of departure specified in the policy to begin the insured voyage, and ends at the moment when the vessel casts the anchor or moors at the destination port specified in the policy. If the insured decides to end the voyage before reaching the destination port, the insurance stops at the port where the voyage ended.

The vessel is also insured during urgent repairs of damage covered by the insurance, which are carried out without unnecessary stay at a port of call or destination port immediately after the end of the insured voyage, if during that time the vessel could not be used for the intended purposes.

The compensation for the incurred damage will be reduced by a deductible in the manner stipulated by the insurance contract.

A deductible is applied per damaging event and reduces the insurance premium per policy.

In exceptional cases, a deductible is applied as a lump sum for all damage incurred by the windstorm during a voyage between two successive ports of call.

A deductible is not applied:

• for compensation of costs reasonably incurred for preventing a total loss of vessel or its parts
• for compensation of rescue costs and/or reward
• for compensation of costs incurred while helping another vessel in danger
• for compensation of damage for additional insurance of personal belongings and baggage and/or additional insurance of vessel transportation by land
• for compensation in the case of total loss of vessel

A compulsory third party liability insurance for the owner or user of the motor vessel is stipulated by the provisions of the Law on Obligatory Insurance in Traffic.

Under this policy, the insured is obliged to pay out compensation if, during the use of the boat or yacht specified in the policy, the user caused personal injury, health damage or death to a third person. Third persons do not include persons on the motor boat or yacht which caused the damage, or persons on another boat, yacht, ship or other vessel which are not considered third persons under the law.