Whether you use your own yacht for pleasure or professional reasons, your priority is to feel safe while at sea. We have created for you a comprehensive yacht insurance program, covering the most basic and compulsory insurance needs for your craft including H&M and third-party liability, where we can offer cover under Institute Yacht Clauses or American Yacht Clauses.
Hull & Machinery
The Hull and Machinery (H&M) insurance protects most types of yachts, against accidental physical damage or loss caused by general perils of the sea or other perils while the yacht is at sea. Moreover, it covers accidents that may be caused by craft collision to the craft itself.
Description of indicative "Hull and Machinery" insurance cover:
The standard exclusions in a H&M insurance are:
– Third party liability costs
– War (which can be covered at an additional cost)
– Strikes (which can be covered at an additional cost)
– Vessel under construction
– Cargo damage
– Atomic or Nuclear energy etc.
– Piracy
– Expenses or any commercial losses whatsoever arising from the trading activity of Vessel, smuggling, unlawful, prohibited or clandestine trade
– Seizure or arrest of the Vessel
– Sea pollution, environment damage
– Fines, penalties, punitive or exemplary damages
– Failure of the insured Vessel to comply with the legislation specified for its flag
– Loss of life or personal injury
– For any contractual obligations to the crew and passenger liability