Marine Insurance

YACHT AND MOTOR BOAT INSURANCE

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LOSS OF OR DAMAGE TO the Vessel, Engines, Fittings and Equipment inclusive of  Dinghies, Boats and Outboard Motors, directly caused by external accidental means,up to the agreed insured value of such items.

 

PERILS INSURED

All loss of or damage directly  caused by:

• Stress of Weather

• Stranding, Sinking or Collision,

• Contact with Aircraft, 

• Fire, Lightning, Explosion,

• Bursting of Boilers,

• Breakage of Shafts or any latent Defects in Hull or

    Machinery or by negligence of any person,

• Malicious Damage,

• Theft of the entire Vessel, her boat(s),  or

• following forcible entry into the vessel or store,

     theft of machinery, gear or equipment.

 

SPECIAL PROVISIONS -  OUTBOARD MOTORS

In respect of loss or damage to Outboard Motors,  the Company may at its discretion  make deductions for betterment - new for old whether or not the Outboard Motors be insured by separate evaluation under this policy, but such deduction shall be limited to an amount not exceeding one third of the insured value of the Outboard Motors.

 

EXCLUSIONS

(a)   Wear and tear and depreciation, deterioration from use and damage to Nets, Moorings and Fishing Gear,

(b)   Loss of or damage to Personal Effects or to Outboard Motors by dropping off or Falling overboard unless specifically agreed to by the Company.

(c)   Loss of or damage to Sails, Masts and Spars while racing, or to any Machinery unless caused by the insured vessel being stranded, sunk, burnt, on fire, or in collision with another vessel unless specifically agreed to by the Company.