What is marine insurance used for?
The provisions of the Transport Code and especially the Insurance Code do not make insurance an obligation for pleasure boating.
For professional activities such as fishing or the rental of pleasure boats, civil liability insurance is compulsory for damage to third parties. But the insurance of the vessel itself is not a legal obligation.
It may seem unnecessary, but boat insurance is not just an extra cost in your budget.
Being insured will save you the day in the event of an event at sea: boarding, collision, sinking, grounding, towing, etc.
Your insurance will cover the costs.
Coverage of costs (medical costs, material costs, etc.) related to the accident that you have caused or suffered, depends essentially on the conditions of the insurance policy that you have taken out.
The insurance certificate sets the scope of your insurance cover.
Due to its unpredictable nature, the event at sea presents a high level of uncertainty, making it impossible to budget for it outside the framework of insurance. And this, especially since the amount of damage varies according to the extent of the consequences of the accident.
The damage by a small boat (jet-ski for example) can be reduced on a strictly material level, but very serious and very heavy financially in the event of bodily injury and harm to people.
Insuring your boat, for a monthly or annual fee, will save you from financial difficulties if you have to deal with major damage to your boat.
This is why it is essential to properly insure your boat, whatever it is (cruise, semi-rigid or sailboat), even if it is not compulsory for pleasure boats, because insurance is a guarantee of safety. financial, knowing that any damage on a boat or caused by a boat always has a significant cost.
There is no shortage of specialized insurers, it is advisable to request several quotes to compare rates and solutions.
The insurance can cover the boat but also its accessories (for example the trailer), the freight and the goods transported.
Obviously, the extent of the insurance coverage will depend on the price paid and the option chosen.
Be careful to validate with the insurance company the market value of the boat which will be an essential criterion for setting the insured amount and the amount of the insurance premium, taking into account an index of dilapidation of the boat and the costs of maintenance and repairs undertaken by its owner.
The different types of insurance contract
Which professional fishing insurance policy choices?
Depending on the use you make of your boat, professional or pleasure, several insurance options are available to you.
The insurance formulas vary according to the services selected.
For a professional fishing boat, it is above all a question of taking out hull insurance, that is to say the insurance of the boat itself, engine included, since the civil liability insurance is already claimed from you for your professional practice.
There are many kinds of insurance policies, so that everyone insures his ship according to his own needs.
The compensation conditions you will benefit from vary depending on the insurer you have chosen.
Here are the main types of hull insurance you can buy for a fishing boat:
All-risk insurance: As its name suggests, this insurance covers all the risks that a vessel may suffer, in particular material and immaterial damage, consequential or not.
But all-risk insurance does not necessarily cover operating losses, which can become a high loss item and which worsens day by day when the boat is stopped following damage.
Guarantee Franc d’AVERAGES particulars EXCEPT (FAP except): This policy covers only loss and damage caused by the most serious claims listed in the text of the policy, for example a collision, a fire, a collision, or another failure.
Guarantee Free of particular damage ABSOLUTELY (FAP absolutely): This insurance covers general damage and total loss. Special damages are excluded.
Free Guarantee ABSOLUTELY (FA absolutely): According to this insurance formula, neither particular damage nor general damage is covered. Only total loss, recourse by third parties, abandonment and expenses for assistance and salvage are covered.
Total loss and abandonment: This policy offers cover by the insurance company for costs related to the total loss of the vessel and/or the consequences of its abandonment.
Which yacht insurance policy choices?
As with professional insurance, a yachtsman who suffers