Wear & Tear and Latent Defects
Cover for damage as a direct result of a part failing due to wear and tear; latent defect; corrosion or any kind or rot, only the cost of repairing or replacing the faulty part is excluded.
A contribution towards towing and assistance costs in an emergency, non-claim Situation.
Your personal effects, and trailers and cradles which you own and use in connection with your yacht are covered up to fixed limits, or for higher sums by agreement.
Main engines and gearboxes, for sail and motor yachts, up to 5 years old, covered for damage caused by failure of component parts.
A contribution towards emergency accommodation costs if your yacht becomes uninhabitable when in use abroad.
Salvage and wreck removal
We will pay, without deductible, the reasonable cost of inspection of the underwater parts following a grounding incident, whether or not any damage is found together with reasonable salvage and wreck removal costs.
I have sold my boat. What happens with my policies?
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.
Can the purchaser take over the policies?
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 yacht through Pantaenius we will ensure that the there is no gap in cover when the yacht 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.
How is my trailer insured?
Trailers that permanently belong to the boat can be insured against loss or damage under the hull insurance, as part of the insured property.
If insurers agree to insure my trailer, do I need to specify an extra sum insured for the trailer?
It depends on the value of the trailer. There is automatic cover up to £1,500.00 each item for one trailer. However, should the value of your trailer be higher, please let us know as it will be necessary to reflect the correct value of the trailer in the total sum insured.