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Commercial Boat Safety

Investing at sea has many risks and we must have provision for the safety of the passengers we carry, for any damage that may be caused as well as for damage to our own vessel


Why do I need Boat Insurance?

If you own a boat, it makes sense to protect yourself against unexpected expenses with boat insurance. That's because accidents can be costly – especially when you're at fault. If your boat is involved in an accident you caused, you will not only have the cost of repairing your own boat but you will have to pay for damages to other boats and possibly the costs of the marine pollution you caused.


Immediate support

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insurance system

Complete boat securing system

It depends on the age of the boat & engines and the insurance company.

According to law 4256/2014 include:

  • Liability for Personal Injuries and/or Death of occupants and third parties by accident and cumulatively for the entire duration of insurance up to € 500,000
  • Injuries to third parties per passenger up to € 50,000
  • Liability for Material Damages of passengers and third parties by accident and cumulatively for the entire duration of insurance up to € 150,000
  • Marine pollution – is covered solely the cost of decontaminating the marine environment per incident and cumulatively for the entire insurance period up to € 150,000.

In addition to the compulsory Third Party Liability insurance, you have the opportunity to protect your own property, by covering the same damages of the boat - HULL:

The basic clause used for yacht insurance is the Institute Yacht Clauses 1.1.85 Cl 328 and covers damages arising from:

  • Perils of the sea, rivers, lakes or other navigable waters
  • Fire / Explosions
  • Ejection
  • Piracy
  • Collision with port or wharf equipment or facilities by any land vehicles, aircraft or similar objects or objects falling from them
  • Earthquake, volcanic eruption or lightning
  • Accidents when loading, unloading or handling supplies, synergists, machinery equipment or fuel
  • Malicious acts
  • Theft of the entire boat, boats or outboard motors
  • Also covered are damage to the boat (excluding engine and electrical equipment) from hidden defects in the boat or engine, broken shafts, burst boilers and negligence of any person (excluding repairers)
  • Expenses of inspecting the vessel's reefs after grounding

Additional Boat Covers:

  • Outboard motor falling overboard
  • Cover for shaft and propeller damage
  • Personal effects
  • Mechanical damage
  • Risks of Land Transport
  • Coverage when renting or chartering the vessel
  • Coverage of War and Political Strikes

With the guarantee of Future Plan

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+30 26450 26358

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