Here at GAP Insurance Agencywe always strive to make buying yacht and boat insurance as easy as possible. We understand that you may have some questions, and our team is always happy to answer your questions and walk you through your options.
Here are some cases where you may need boat insurance:
- Country Requirements. Some countries require boat insurance. Be sure to check the policies of the country you are at.
- Marinas. If you dock or park your watercraft at a marina, the marina may require you to insure your yacht or boat.
- Yacht/Boat Financing. Many banks will require insurance when financing, especially if the vessel is being used as security.
- Peace of Mind. An insurance policy can be a great way to ensure your own peace of mind. Don’t let an accident or other incident cause you to lose your investment. Better be safe than sorry.
When buying yacht/boat insurance, you will have the opportunity to select your coverage options. Do coverage policies include the below?
- Collision Damage
- Bodily Injury
- Property Damage
- Passenger Liability
- Tow & Wrecking Coverage
- Emergency Service
- Boat Rental Coverage
- Fishing Equipment Coverage
- Fuel Spill Liability
- And More
Most insurance policies do not cover:
- Normal Wear & Tear
- Defective Parts
How much does yacht/boat insurance usually cost? σκαφών αναψυχής;
Yacht and Boat insurance costs may vary. There are a range of factors that may impact the scheme you will pay for your policy.
Here are some of the most common factors:
- Type of boat you need covered
- How old your boat is and its condition?
- Size of your vessel
- Value of your watercraft
- Where you will use the yacht/boat
- Your selected coverage levels and deductibles
Ask and do the necessary research:
When shopping for yacht/boat insurance, keep in mind that some providers do offer discounts. Some of the most common discount opportunities include the following factors.
- Safety Course. Some providers may offer a discount if you take a boating safety course, as this can be seen as a reduction in liability.
- Bundle discounts may be available when purchasing multiple lines of insurance through the same provider.
- Zero Claims. Some providers offer discounts for individuals who have not previously filed a yacht/boat insurance claim.
GAP Insurance Agency:
The GAP Vassilopoulos Group acts as Brokers through their well-established relationships with international ‘A’ Rated insurers’ as well as the local Cyprus market can cater for a wide range of Yacht/Boat risks and for all types of crafts no matter how small or large.
Listed below are just a selection of coverage options which can be provided.:
- Hull & Machinery
- Protection & Indemnity
- Third Party Liability
- Yacht Personal Accident
- Crew Personal Accident
- Crew Medical
- War, Strike & Confiscation
- Legal Expenses
Ready to request a yacht or boat insurance quote? Drop us an email through our website or feel free to contact us at 77 77 77 75 to compare and select the most appropriate yacht insurance policy. Our GAP Insurance Agency team will discuss further information with you.