Five Things To Know Before Getting Dentures

Losing your natural teeth could be testing for many people. You may not be able to feel, taste, and chew your food the way...
HomeBusiness NewsMarina Brokers – Your Insurance Experts As Well

Marina Brokers – Your Insurance Experts As Well

Many years of experience and technical knowledge enable marina brokers to select the best and most appropriate boat insurance for you. The policies marina broker determines offer good standards and an exceptionally high level of service, so you always feel at home even in “foreign” waters. Sit back and enjoy time with your boat. 

Not only do we appreciate a good boat trip, we are also experienced with complex damage and insurance claims. This is one of the reasons why the boat insurance in that we marina broker offer is optimally tailored to your individual needs, is up to all the tricks of the trade. 

Marina brokers pay attention to typical damage cases, such as theft and damage repair, and attach great importance to the details. The best national and international marina brokers support us in this and have the right yacht insurance offer ready for you.

Questions about recreational yacht insurance

This article analyzes the most essential aspects of recreational boat insurance that the owner must ask the marina broker to offer.

In addition to mandatory civil liability insurance, it is common to take out hull insurance in recreational boating, which covers the different breakdowns that the boat may suffer. For any yatch or marina owner it is a more than advisable option, since repairs on boats are usually expensive and, although this is not normal, contingencies occur that should be insured.

Paying for insurance is not very demanding if you have good coverage; that is why you have to be very “sure” of what you are contracting and for this, it is essential to analyze the policy or contract in depth. This task is not easy at all, since these are usually long, thick and difficult to understand, however, their study is necessary.

Also, we should compare the different options shared by marina brokers, based not only on the price, which is what is usually done, but also on the clauses. Although at first reading it may seem that the policies are all practically the same, the truth is that there are substantial differences if we delve deeper into them. 

Until a few years ago, few claims were due to insurance companies. Almost everything was covered or the insurers had funds to accept any claim, a situation that everything indicates has changed. It is then much more reasonable to know well what you are contracting. A marina broker must try to respond to some aspects of the insurance contract that we understand are substantial and that we have to look at when contracting.

What is insurance?

It is defined by the law on that contract by which one of the parties, the insurer, through the collection of a premium, undertakes to compensate, within the limit of what was agreed, the insured if the event that is the damage caused or other benefits are covered.

Is insurance mandatory?

As regulations establish for marinas, it is necessary to have civil liability insurance. The minimum coverage is expressly established, and the same guarantees are required for foreign vessels. Damage insurance, hull in nautical terms, is not mandatory, although we understand it is advisable.

What coverage does mandatory insurance give us?

As we indicated, this civil liability insurance protects third parties from damages we may cause due to using the insured vessel. That is, it does not cover damage to our boat but rather the damage we cause with it. It is important to note that mandatory insurance only covers civil liability when the boat is in the water, that is, coverage is excluded when it is docked at the marina.

Can you navigate without mandatory insurance?

Navigation without mandatory insurance may be subject to sanctions. Marinas often require it to allow a boat to remain or enter their facilities. If an accident occurs and the insurance is unavailable, in addition to the sanction, the owner and skipper are responsible for supporting the damage, resulting in the boat being a guarantee for collection. Finally,marina broker must indicate the premium at a very reasonable price, which is why it is advisable to contract extended guarantees.

Where should you go to take out insurance?

Insurance can be contracted directly with the insurance company, through an insurance broker or agent. Not all companies offer insurance for pleasure boats, and some specialize in this product.

How are insurance agents and marina brokers different?

An agent sells an insurance company’s product while a marina broker advises and advises those interested in taking out insurance on the market offers. In principle, it seems more advisable to go to a broker since he can offer us different alternatives, he is obliged to advise us on what we need and is more free to defend us against the company in case of accidents.