I have sold my boat. What happens with my policies?
If you have sold your boat, please inform us immediately by sending us a purchase agreement or transfer certificate by post or by email. Your policies will then be cancelled and settled upon transfer of ownership.
Can the purchaser take over the policies?
The policies cannot be transferred directly. In the case of existing yacht hull insurance/yacht liability insurance, temporary insurance cover is provided for the purchaser for one month from the date of transfer of ownership. For hull insurance, the purchase price specified in the purchase agreement applies, however up to a maximum of the previous sum insured (agreed fixed value). The purchaser will also receive an insurance recommendation, so they can take out new policies.
How is my trailer co-insured?
Tax-exempt sports trailers with a green registration number are automatically co-insured with the towing vehicle. If the trailer is not coupled to a vehicle and the trailer causes damage to a third party, the owner of the trailer is personally liable. For an additional premium, this trailer can be included in the yacht liability insurance. If you wish to register a trailer that is subject to compulsory insurance (black registration number), you will need an EVB number (electronic confirmation of insurance). This is issued by your vehicle insurer or by our colleagues at Pantaenius Versicherungsmakler GmbH at www.pantaenius.eu.
Can I lend my boat to friends?
Yes. Pantaenius liability insurance covers the policyholder, the owner, the captain, crew and anyone who is on board with the permission of the policyholder or the owner. This also applies to the use of dinghies and the undertaking of sports, as long as such activities happen in connection with use of the yacht.
What are the notice periods?
Your insurance cover is provided for one year in each case and is extended automatically by one year at a time unless the insurance policies are terminated in text from three months prior to the due date.
How do I change my bank details?
If you would like to change the bank details we have on file for you, please notify us by telephone or email. We will then send you a new SEPA direct debit mandate to complete and return to us.
One or more owners are leaving my group of co-owners – what do I need to do?
If one of the owners named in the policy decides to leave the group of co-owners, please inform us of this in writing. All persons involved must sign the declaration, unless you have named one person as primarily responsible.
Are salvage and wreck removal costs covered by liability insurance?
Salvage and wreck removal costs are covered by hull insurance. The salvage of a wreck can only be covered by liability insurance as a third-party claim in very rare cases.
My boat is kept on land in the winter – can I limit my cover?
Even when in storage in the winter and during transport to the storage location, there are risks of damage for which you, as the yacht owner, may be held liable. Your existing private liability will not cover such damage. There are therefore no plans to limit cover during winter storage.
Is winter storage included in the cover?
Liability risks are also covered during winter storage and during travel to and from the storage location.
Can I suspend my policies for a season?
We are unable to suspend a policy mid-term. Although you may cancel your policy, we recommend keeping your vessel insured at all times.
I am moving abroad. Will that affect my policies?
Please inform us of your new address immediately so that we can adapt your policies accordingly. Depending on the country, there may be further changes.
What is the difference between liability and skipper liability?
Yacht liability insurance is cover related to the boat. This insures both the skipper and the crew against third-party liability claims arising from use of the yacht. Skipper liability insurance is cover related to a person. It insures this person against third-party claims during use of a hired or chartered boat if the boat-specific liability insurance does not cover the claim in question or if there is no boat-specific liability insurance in place.
Can I go outside of my cruising area?
Occasionally leaving the cruising area is included in the insurance, as long as the insurer is notified immediately.
What happens if the other party in an accident does not have sufficient insurance cover?
In this situation, the bad debt loss coverage of Pantaenius boat liability insurance applies. The requirement for this is that the resulting claim for compensation could not be asserted and that there is a legally valid and enforceable title against the party responsible for the damage.
My yacht is being re-registered – what do I need to do?
If you re-register your boat, you must notify Pantaenius immediately. Depending on the insurance tax applicable in your new country of registration, this may result in a change to the insurance premium.