Boat and yacht insurance covers the insurance of the hulls and machinery of vessels and the liability of owners or users of vessels and other persons involved in their use or commercial exploitation. Casco insurance of yachts and boats is voluntary, while limited liability insurance is legally compulsory. In accordance with legal provisions, compulsory insurance must be taken out by the owner of a boat or yacht whose power of propulsion machinery exceeds 15 kilowatts, and which according to the regulations must be entered in the register of boats and yachts. The sum insured is determined by the Law on Compulsory Transport Insurance and amounts to three and a half million kuna. Compulsory insurance provides compensation for damage suffered by third parties as a result of bodily injury, health or death. The gross premium in the lowest class of 15 to 30 kilowatts of engine power for personal purposes is around HRK 180, while this amount for economic purposes is around HRK 400.
As far as the helmet is concerned, it covers partial and complete damage such as sinking without the possibility of removal, destruction or disappearance of the vessel, when the cost of salvage or repair exceeds the value of the vessel, and the policy of the ship’s casket is secured against maritime or traffic accident, natural disasters, lightning strikes. , sinking, capsizing or stranding, fires, break-ins and even volcanic eruptions. Casco vessels also cover the transportation of the vessel by land, the insurance of the vessel during charter (charter) and all risks arising from the charter. In addition to the casco, additional liability insurance is offered, such as liability for oil pollution damage and liability for damage to passengers or bathers. Although no one hopes so, every year we witness the victims of scrapped yacht masters who often end up with fatal consequences. Therefore, for a peaceful sleep, all boat and yacht owners are advised to arrange additional covers, which offer the necessary protection for a minimal investment, with a compulsory and comprehensive cap.
Source: Insurance World