Corona and the consequences: Basic information on the current situation
The SARS-CoV-2 virus is currently causing considerable restrictions in many countries, which unfortunately also affects the world of yachting. In this FAQ section on the subject of the coronavirus, we provide answers to the most frequently asked questions we have received on yacht and boat insurance, as well as charter insurance. Should you not find an answer to your specific question here, please call or email us. Our service team is of course still available for you to contact.
Do I really still need a hull insurance if I do not use my yacht?
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.
How does the yacht insurance work if our boat remains in winter/summer camp/hall/outdoor storage this year?
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.
My port is not open or accessible due to an official order. What happens if damage occurs?
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.
What if damage to my yacht is not discovered due to the closure of my port or marina?
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.
I cannot finish maintenance work that I have started on my yacht because I am now denied access. What happens if damage occurs now?
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.
Does hull insurance cover the cost of commissioning specialist companies or service providers for the purpose of supervising my yacht in my absence?
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.
What happens to my yacht if it is currently in a shipyard but the shipyard ceases to operate?
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.
Are travel and hotel costs reimbursed by the hull insurance if my yacht is damaged during winter storage and travel costs are incurred for this reason?
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.
Does Pantaenius reimburse the return of my boat or yacht from abroad to a port in my home country?
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.
I entered a foreign port with my yacht, but now I have to leave the country. Do I have to secure my yacht in any special way?
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 yacht has to stay longer than planned in the storage facility or on the grounds of the open storage, are the additional costs insured?
The costs for an extended stand, berth or hall space are not covered by the hull insurance, just like the regular annual fees.
I cannot get into the port. What about my shore power?
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.
I have closed a purchase contract for a boat and the transfer of ownership or handover is now postponed. From when should I insure the boat?
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.
I have already applied for insurance, but the transfer of ownership is now postponed. What can I do?
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.
What happens to my yacht if I have not yet paid for it in full because the final payment was agreed upon when the dealer handed it over, but I am currently unable to collect the yacht due to a travel restriction?
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.
...what if the dealer goes out of business now?
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.
I cannot pay the full premium for the insurance at the moment. What can I do?
Please contact us as soon as possible. In this case we will try to arrange a payment method with you during the year.
I will not be using my yacht this year, is there a coverage restriction with which I can save premium?
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.
I will probably not be able to charter out my boat this year. How can I save premium?
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.
I have cancelled my charter trip with the tour operator. What about the booked charter package?
We were able to reach an agreement with the participating insurers, provided the policy is free of damages, to cancel your charter package at the beginning and to refund you the entire premium. Please inform us of this in writing.
If one or more members of the charter crew became ill with Covid-19, would the insurance company step in?
For Charter Compact Basic to Premium that were taken out until March 17, 2020, the cancellation or return travel costs due to Covid-19 illness will be reimbursed.
Would this also include the travel costs (flight costs)?
Yes, in the event of illness, the contractually owed travel costs to and from the airport will also be reimbursed, unless your airline reimburses these costs because your flight was cancelled.
What if I do not receive a cancellation from the charter company/provider but I cannot reach anyone on site?
For charter packages concluded until March 17, 2020, the following applies: If you can no longer reach the charter company or the charter base by telephone or e-mail and if the latter is unable to pay or even insolvent, you have a charter price insurance within the framework of the charter packages Basic to Premium, which will reimburse you for the corresponding costs up to the agreed amount.
I do not want to or cannot start my booked charter trip at the moment, because there is an entry stop. Will the charter package reimburse me the costs?
If you are unable to reach your charter base due to an entry stop or other restrictions in connection with the spread of the SARS-CoV-2 virus and therefore have to cancel the planned trip, this does not constitute an insured event within the scope of the travel cancellation costs insurance of your charter package. In this case, please contact your charter provider and, if applicable, your airline directly.
Can I now take out a charter package that protects me from costs arising from the corona virus?
Unfortunately, we cannot offer you additional protection in this regard. In view of the exponential spread of the lung disease COVID-19, caused by the new virus SARS-CoV-2, we have long tried to stick to our previous insurance conditions. However, the pandemic has now reached a scale that forces us to temporarily adjust the scope of cover of our travel cancellation insurance. Therefore, please note that travel cancellations and travel interruption caused by the SARS-CoV-2 virus are excluded from our travel cancellation costs insurance until further notice. There is also no insurance cover in the event that the chartered yacht is not made available due to insolvency of the yacht agency or the charter company.
My charter company has offered to postpone the trip indefinitely. Can, and do, I have to adjust my already booked charter package to this?
Unfortunately, it is not possible to change the charter period of your existing policy, as the insurance contract always refers to the specific charter trip specified in the policy, including the travel dates and the actual yacht. However, after consultation with the insurers involved, we are able to cancel your charter package at the beginning and refund the entire premium, provided the policy is free of losses.