Guarantees for Boat Insurance
When it comes to insuring your boat or jet ski, one of the most frequent questions is: What guarantees does boat insurance really include? Although there are many options and insurers on the market, knowing the basic and optional coverages will help you make an informed decision.
In this article, we will break down the guarantees for boat insurance as if you were hearing it from your trusted advisor. By the end you will know what to check in your policy and why each cover may be important for you and your boat.
Types of vessels usually insured
As a general rule, this type of insurance is intended for vessels registered in the 6th and 7th lists.
The first thing you should check before taking out your insurance is the scope of navigation. This detail directly affects the insurance guarantees. Often, by default, policies are limited to Spanish maritime waters. If you are going to sail abroad, make sure that the cover contemplates it.
Sail with peace of mind, insure your vessel
Discover the key coverages to protect your boat, your investment and those who accompany you on board.
Main guarantees of boat insurance
1. Compulsory Civil Liability
This guarantee is legally required by Royal Decree 607/1999. It covers personal and material damage that you may cause to third parties during navigation.
- Personal injuryup to €120,202.42 per victim.
- Material damage and economic lossesup to €96,161.94 per claim.
Voluntary or Extended Liability
Allows you to increase the above limits with higher capitals. It is highly recommended to include it, especially if your vessel is powerful or frequently used. The greater the use, the greater the risk of causing damage.
3. Legal defence and claims for damages
This coverage includes:
- Legal defence.
- Claims for damages to third parties.
- Payment of bonds.
It can apply both at home and abroad, depending on what is stated in the policy. Some insurers also offer legal advice by telephone.
If you choose to appoint a lawyer on your own, check the financial limits set out in the particular conditions.
4. Assistance to persons and vessels
It offers help in case of accidents or unforeseen events, such as:
- Transport to medical centres.
- Repatriation.
- Medical and hospitalisation expenses.
- Towing of the vessel to the nearest port due to breakdown.
This guarantee may have spending limits, so it is advisable to check the conditions carefully.
5. Personal accidents
Covers the occupants of the boat in the event of an accident, including during embarkation, disembarkation or when water skiing.
You will be able to choose capital sums insured for:
- Death.
- Permanent disability.
- Medical expenses.
6. Own damage to the vessel
This cover protects your boat against:
- Total loss due to accident or theft.
- Damage due to fire, shipwreck, collision or vandalism.
- Damage during loading, unloading or road transport.
Each insurer defines its own exclusions and conditions. It is important to review them.
7. Personal effects
Includes reimbursement for loss or damage to objects declared in the policy, in the event of loss or theft of the vessel.
Final recommendations
- Before contracting, carefully review the General and Special Conditions.
- Consult your intermediary or advisor if you have any doubts about the application of the guarantees.
- Don't just look at the price: choose the insurance that best suits your type of boat and your usual use.
For more information on boat insurance, you can consult our site lawebdeseguros.com or contact a specialist consultant directly.