Insurance for ships, barges, yachts, pleasure boats and other watercraft provides protection in a wide variety of situations. Whether your vessel is underway, in port, at anchor, dock or other anchorage, or during repair, maintenance or storage, an insurance policy will provide you with financial protection against a variety of risks.

This type of insurance covers a variety of scenarios, including damage, loss, or other unforeseen circumstances that may happen to your watercraft. Depending on your needs, the insurance policy can be arranged either for a specific voyage or for a specific period of time during which your vessel will be under insurance coverage.

This flexible solution allows you to choose the option that best suits your situation, giving you peace of mind that your watercraft is protected from potential financial loss, whether it is during active operation or while it is parked or being repaired.

What does the insurance cover?

• Structural or actual damage - reimbursement of the market value of the vessel as stated in the policy.
• In case of damage - coverage of reasonable repair costs, including the cost of spare parts, materials, labor, and the cost of berthing or docking the vessel.
• Expenses related to the operation of the vessel while it is idle due to an insured event that prevent it from being used for its intended purpose.
• General accident and salvage - coverage of losses related to division of liability between all parties concerned in the event of a general accident.
• Loss Prevention Costs (Sue and Labor) - the cost of measures taken to mitigate losses.
• Losses related to the shipowner's liability when ships collide or collide with other floating or fixed objects (collision liability coverage, FFO).
• Loss of Hire (Loss of Hire) - compensation for lost income if the vessel is unable to perform its functions.

Factors that determine the value of the policy:

• The market value of the vessel
• Year of construction
• Type of vessel: dry cargo, reefer, oil tanker, passenger, pleasure craft, etc.
• Country of registration (flag)
• Classification society (technical register)
• Number and nationality of crew members
• Type of cargo carried
• Technical parameters of the vessel (dimensions, deadweight, etc.)
• Technical condition of the vessel, including possibility of pre-insurance inspection at the expense of the shipowner
• Number of vessels insured by the owner
• Types of losses covered by the policy
• Territorial restrictions for navigation
• Insurance deductible amount
• History of previous losses.