Pleasure craft insurance at CertAsig
by Todd Passman
Director of Marine Insurance & Member of the Board
As the hot summer days are now upon us, who does not dream of spending the day on the water? It could be fishing from a small fishing boat in the Danube Delta, sailing your Oceanis 50 between the Aegean islands of Greece and Turkey, or even cruising the wider Mediterranean in a 73 foot Sunseeker, or maybe a Ferretti motor yacht.
Yachts and pleasure craft are a much desired acquisition and can represent a significant financial investment. There are so many variables for the owner to consider. Do you wish to go by motor or sail, new or used, stabilised vs. unstabilised, choice of marina, what type of anti fouling treatment. This list can be endless. But once you have made all the choices and settled on that one particular lady, there remains another choice, and while it is not as fun as specifying the interior finishes for a 72 foot flybridge cruiser, it is just as important. This is the choice of insuring your purchase with proper marine yacht insurance.
To enjoy the freedom of the seas and truly leave your worries behind it is critical that 1. Your investment in a yacht is protected and 2. Ownership or operation of your yacht does not put your personal assets at risk. CertAsig insures yachts and pleasure craft covering loss and damage caused by:
- Perils of the seas, rivers, lakes or other navigable waters
- Fire, explosion
- Earthquake, volcanic eruption, or lightning
- Malicious Acts
- Latent defects in hull or machinery
- Legal costs
CertAsig provides optional extensions for:
- Personal effects
- Passenger Liability
- Land transit
- War and Strike risk
- Loss of or damage to motor and connections, electrical equipment and batteries caused by latent defects, negligence, heavy weather
Nobody ever wants to think that they might have one of those terrible days on the water. But on the sea, anything can happen.
CertAsig has been writing marine insurance in the Black Sea and Mediterranean since 2008 and is, by premium volume, the largest Romanian marine insurer. CertAsig has offices in Bucharest, Constanta, Sofia, Bulgaria and a liaison office in Istanbul, Turkey. Geographically, we have the Mediterranean and Black Sea covered. We offer competitive rates and a fast quotation process. We can offer Institute Yacht Clause English wordings in addition to Romanian clauses. Plus we have underwriting capacity up to USD 15,000,000 per vessel. We have an international network of surveyors, correspondents, and adjusters to provide fast and professional service in case the unfortunate event happens.
We wish you lots of sun, sea, and calm waters for your yachting adventures this summer. But please do make sure that your asset and your liabilities are covered. CertAsig is ‘at the helm’ when it comes to insuring your yacht or pleasure craft. Please give us a ring for a bespoke quotation!