Yachts & Leisure Crafts Insurance

The deductible amount is the amount or percentage that is not covered and/or deducted from the amount for each damage separately.
Maximum coverage limitations either in amount or in percentage may be applied to specific coverage in your Insurance policy, a detailed list of restrictions is available in the Insurance policy.

It covers loss or damage to a yacht, hull, machinery and components while in sea or disarmed outside of active service or during maintenance, as a result of the following insured risks (according to the Institute Yacht Clauses 1/11/ 85):

• Marine hazards (e.g. impact, collision, landslide, sinking, bad weather conditions)
• Fire
• Piracy
• Dock collision or other facilities in the port
• Air craft crash
• Earthquake
• Volcanic eruption
• Lightning strike
• Damage during lifting/uplifting
• Explosion
• Malicious Damage
• Theft
• Rescue Fees

In addition, there is an option to add insurance coverage with an additional premium: 

• Liability Insurance related to ownership and use of the vessel
• Responsibility for and against skiers
• Coverage for damage to the vessel during domestic transportation 
• Coverage for personal items 
• Fall of outboard engine from the boat 
• Trailer cover 
• War, Strike, Harassment, Political riots

Within the territorial waters controlled by the Republic of Cyprus, unless otherwise specified in your Insurance Policy.

Boat Insurance covers boat loss or damages caused due to collision, fire, stranding, theft, marina hazards, and other risks and threats.