Corona and the consequences: Basic information on the current situation

Even if you are currently unable to use your yacht, a hull insurance should still be kept active. Our experience shows that some of most serious damages that occur and a considerable number of registered total losses have little to do with the actual use of the boat or yacht. Fire, force majeure, burglary and vandalism are among the most common causes of damage on land. Special caution is also required, as damage caused by neighbours in winter storage, for example, is not automatically covered by the liability insurance of the party responsible.

Your yacht is covered by Pantaenius Hull and Third Party Liability Insurance both on land and in the water, without any time limits or deadlines for leaving the winter storage facility. Should the option arise at a later date to move your yacht to another more accessible port, for example, land and river transport of your yacht is naturally insured, as are slip and crane operations or shipyard stays.

First of all, please check with the port/marina operator whether the official order is accompanied by a ban on entering the port. In this case, you should ask a local service company or the harbour master/capitainerie to look after your yacht regularly and check the mooring lines, fenders etc. if necessary. By doing this, the risk of damage can be minimised or any damage that has occurred can be reported as quickly as possible. If there is no ban on entering the port, you may be able to carry out the securing work yourself.

Your yacht is insured in port or on land. If you are unable to regularly check on your boat yourself, you should assign someone else to do it. If this is not possible either, you should use the first opportunity after the measures imposed as a result of the Coronavirus have been lifted to check the condition of your boat. If damage has occurred, this is of course also insured. However, you are obliged to report this immediately after becoming aware of it and, if necessary, to take measures to minimise the damage.

Work on your yacht should always be organised in such a way that no damage can occur even if the work is interrupted. If there is reason to believe that the interruption will cause damage, you must commission a third party to secure the work that has been started.

Hull insurance protects you against the unforeseen. In contrast to the inspection costs after an accidental grounding, the costs of commissioning third parties to supervise your yacht are therefore not part of the scope of cover and cannot be covered.

Unfortunately this cannot be ruled out in the current situation. However, within the scope of the yacht liability and hull insurance, your boat is fully insured even during shipyard stays. In this case, please contact the respective company. You should not incur any additional costs.

The costs for hotel and travel to and from the hotel are only included in the hull insurance if damage occurs during the use of your yacht, making it uninhabitable. Travel costs incurred because damage in winter storage requires your presence on site are not included in the hull insurance.

Within the hull insurance, the transport costs to the nearest shipyard are covered in the event of damage. If there is no claim, transport costs are generally not covered by the hull insurance.

Whenever you leave your yacht you must take all measures to prevent damage in your absence. A safe berth, suitable moorings, locked cabin and back boxes, sufficient ventilation and, in the case of longer absences, the assignment of a third party who regularly inspects your yacht and all safety-relevant components are important measures.

The costs for an extended stand, berth or hall space are not covered by the hull insurance, just like the regular annual fees.

Basically, shore power should only be connected if the yacht is permanently supervised. If this is not guaranteed, you should instruct a third party to disconnect the shore power connection of your yacht.

The insurance should always be in the name of the owner of the boat. The shipyard, the dealer or the previous owner is responsible for this until the handover. When the boat is handed over, the exact moment should be fixed in the contract, then the risk is transferred to you and at this point, the boat should be insured by you.

If the transfer of ownership cannot take place at the agreed time and the boat is still insured through the previous owner, you can postpone the start of the insurance cover of your requested policies. Please write to us by email with the new date of transfer of ownership.

You should discuss this with the dealer/seller. They will probably agree to postpone the handover. This should also mean that you will only then owe the final payment.

If there are signs that the dealer is threatening to go bankrupt, you should bring forward the date of transfer of ownership if possible. Otherwise, the boat you have already paid for will be transferred to the insolvency estate. If the dealer does not agree to bring forward the date of the boat transfer, you should engage a lawyer.

Please contact us as soon as possible. In this case we will try to arrange a payment method with you during the year. 

A limitation of cover or cancellation does not make sense at this time and is therefore not recommended by us. We do not know how long the current situation will last. Yachts have already been partly craned, and some storage facilities have to be cleared for the summer. We are hopeful that the season will come and then your yacht will be the best way to spend a few relaxing hours. A coverage limitation of the hull insurance, such as a lay-up cover, only works on land and requires that the boat is not moved under any circumstances for at least 12 months.

The type of use of the yacht - commercial or private - must always be determined for 12 months. So, if you take the charter risk out of the insurance, you cannot charter out your vessel for the entire season.