Boat Third Party Liability Insurance

Third party marine insurance, also known as Marine Third Party Liability Insurance, is a type of cover designed to protect boat owners from legal and financial liabilities arising from accidents involving their boat. This insurance covers the costs associated with injury to other people, damage to other boats or property, and environmental pollution caused by your boat. It extends to cover liabilities for anyone on board your vessel with your permission, such as guests or unpaid crew. Having third party marine insurance is essential for safeguarding yourself against potentially high compensation claims and is often required by marinas and local authorities.

The principle of liability to third parties means being legally responsible for harm or damage caused to people or property that are not directly connected to you through a contract. In the context of marine insurance, this means that if your boat causes injury to someone else or damages another boat or property, you could be held legally liable. Third party liability insurance helps cover the financial costs associated with these claims, protecting you from potentially substantial expenses and legal actions.

Our third party liability insurance provides comprehensive cover for a variety of risks, including:

Injury to Others: Covers your legal liabilities should you cause injury or even death to another person.

Property Damage: Pays for the repair or replacement of other boats or property damaged by your boat, if legally liable.

Water Pollution: Includes costs associated with accidental pollution caused by your boat.

Wreck Removal Costs: Covers expenses related to the removal of wreckage if legally required.

Liability during Watersports: Extends cover to liabilities arising from watersports activities and scuba diving, provided participants are properly qualified and equipment is in good condition.

Extended Liability: Covers legal liabilities when using a borrowed or chartered boat.

Our insurance also ensures that liabilities of your guests and unpaid crew members are covered, offering comprehensive protection for all on board.

When you sell your boat you cease to have an insurable interest in the yacht. Therefore, you will need to notify us, in writing, of the sale as soon as possible. You can do this by sending an email or a letter. We cannot cancel the policy by telephone. When we cancel your policy, a pro-rata refund of unused premium will be made provided no claims have been made in the current insurance period.  

Each policy of insurance is based on the individual requirements of the insured. In taking over another person’s policy there is the danger that the policy is not suitable for the needs of the purchaser. Of course, if you feel that you have benefitted from the Pantaenius cover and customer service and wish to recommend us to the buyer of your yacht, then we would be delighted to provide them with a quotation for their insurance. Please feel free to pass on our contact details. If the new owner wishes to continue to insure the boat through Pantaenius, we will ensure that there is no gap in cover when the boat changes hands. You will need to let us know as soon as possible so that we can offer a quotation and set up the new insurance in good time for the sale. In many cases we will waive the requirement for a survey which may be helpful for your buyer and so benefit the selling process. 

The policies are valid for one year, with renewal information being sent to you shortly before the next policy period.

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