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 premium refunded on pro-rata basis upon transfer.
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 proposal, so they can take out new policies.
How is my trailer insured?
Trailers and bearing blocks that permanently belong to the boat are automatically insured under the hull insurance.
My trailer is automatically included in the insurance cover, do I need to specify an extra sum?
Yes. To ensure that you have sufficient insurance cover in the event of the total loss of the boat and trailer, a separate additionally insured sum should be specified for the trailer.
The registration office is requesting an EVB number (electronic confirmation of insurance) – is that correct?
Tax-exempt sports trailers with a green registration number do not need an EVB number. The EVB number is required for the registration of trailers subject to compulsory 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?
Pantaenius hull insurance also covers friends and family, so it is fine to lend your boat on a non-commercial basis.
What are the notice periods?
The policies are valid for one year in each case and are extended automatically by one year at a time unless terminated by email or in writing three months prior to expiry of the relevant period.
How do I change my bank details?
If you would like to change the bank details, 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 or more owners leave the group of co-owners, written notification of this, signed by all co-owners involved, must be sent to Pantaenius. The policy will then be adapted accordingly. If you have named one person as primarily responsible in the policy, the signature of this person alone will suffice.
How do I increase or reduce my sum insured?
If you think that your agreed sum insured is no longer adequate or would like to reduce it, please get in touch with our customer service team. You will then receive a new quote from us and can have the adjusted sum insured included in your policy as an addendum.
Are salvage and wreck removal costs covered?
Salvage and wreck removal costs are covered without any cap or deductible.
My boat is kept on land in the winter – can I limit my cover?
Over 50 years of processing claims has shown us that boat owners often underestimate the risks of winter storage in particular. Normal hull insurance cover is provided during winter storage. This insures you against damage caused by theft, fire and even environmental influences such as force majeure.
Do I need to lie my mast down in the winter?
Pantaenius does not stipulate any requirements with regard to lying down your mast in the winter. However, we cannot provide a general answer regarding whether or not your winter storage operator will allow yachts to be stored with their mast raised. When raising and lowering the mast, this is a valuable opportunity to check the mast, shrouds and other parts for damage. It is not possible to perform these checks when the mast is standing.
Is winter storage included in the cover?
Winter storage and the land and river transport of your yacht are covered, as are slipway and crane procedures and shipyard and repair stays.
The winter storage operator disclaims liability in the contract – can I sign?
This kind of winter storage contract is relatively common and does not generally pose a problem for Pantaenius. In any case however, you must contact us before you sign such a contract in order to make sure that the gap in cover caused by the waiver of recourse, vis-à-vis the winter storage operator, is closed by the boat hull insurance.
Can I suspend my policies for a season?
If you are planning not to use your boat for at least one year, you can take out reduced hull insurance with Pantaenius that is limited to coverage of the risks that are most necessary. These risks include, for example, fire, lightning strike, explosion, force majeure and theft. If you want to undertake major fitting-out or refit work on the boat during this time, we recommend that you take out fitting-out insurance. This additionally covers yacht crane/slipway procedures and the sum insured can be adapted dynamically in line with construction progress.
What is the difference between hull insurance and total loss insurance?
Total loss insurance only covers damage that results in the total loss of the boat, outboard or trailer. Compensation is not provided for partial damage.
What is all-risks cover?
The term ‘all-risks cover’ describes a cover principle of insurance policies that covers all conceivable damage – except for any damage explicitly defined as an exclusion. Therefore, anything that is not specified in the exclusions is automatically covered. Compared to insurance based on specific risks, this type of insurance cover makes it easier to understand the risks covered because a list of exclusions is generally less extensive than a list of covered risks.
Can I go outside of my cruising area?
Occasionally leaving the cruising area is included in the insurance, but must be reported immediately.
What does ‘agreed fixed value’ mean?
The agreed fixed value is the fixed sum insured for your yacht as agreed between you and Pantaenius. In the event of a total loss, you will receive this sum without any deductions, meaning that you are then able to buy a new boat of equal value. Unlike many of our competitors, this sum insured cannot be disputed in the event of a total loss because it relates to a replacement value.
When do I need to have my rigging checked or replaced?
We generally recommend an annual visual inspection. This can be performed by a specialist or you can do it yourself. However, the rigging should be checked by a specialist at least every 4–5 years. A complete overhaul should also be performed every 8–10 years, with any worn parts replaced. However, the intervals at which inspections and replacements are required always depend on the nature and duration of use of your yacht. If you have any doubts about the condition of your standing and running rigging or are looking for a suitable specialist, we will be happy to provide you with the details of contacts who can assist.
What maintenance intervals does Pantaenius specify for rigging, gas, seals, valves etc.?
Pantaenius does not generally specify maintenance intervals. However, to ensure that the insurance cover of your yacht is not jeopardised, we recommend that you adhere to the maintenance intervals stipulated by the manufacturer.
Can I replace my dinghy in the existing policy?
As a general rule, objects on risk and policyholders cannot be replaced in existing insurance policies.
My yacht is being re-registered – what do I need to do?
When you re-register your yacht, we will need you to send us the new certificate of registration. This re-registration may result in changes to the insurance tax rates, depending on the relevant country-specific regulations.