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.
Can I lend my boat to friends?
Yes. Pantaenius liability insurance covers the policyholder, the owner, the captain, crew and anyone who is on board with the permission of the policyholder or the owner. This also applies to the use of dinghies and the undertaking of water sports, as long as such activities happen in connection with use of the yacht.
How long is the policy period?
The policies are valid for one year, with renewal information being sent to you shortly before the next policy period.
I have changed my address and/or contact details
Let us know as soon as possible, via telephone, email or post, when you move house, change your telephone numbers or email address so that we may ensure your details are kept up to date.
How do I change my bank details?
If you would like to change the bank details we have on file for you, please notify us by telephone or email.
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 updated accordingly. If you have named one person as being primarily responsible for the administration of the policy, the signature of this person alone will suffice.
Are salvage costs covered by liability insurance?
No. Salvage is a matter for hull insurers, dealt with under a hull policy.
Are wreck removal costs covered by liability insurance?
Yes. The liability policy will meet the reasonable wreck removal costs, for which you are legally liable.
My boat is kept on land in the winter, can I limit my cover?
Even when in storage in the winter and during transport to the storage location, there are risks of third party damage for which you, as the yacht owner, may be held liable. You will therefore need to keep your liability policy in force, indeed most yards will insist upon it.
Can I suspend my policies for a season?
In theory yes it is possible, but we do not recommend it. Just because your yacht is laid up, does not mean that you face no risk of liability to third parties. Most yards will insist upon you having liability insurance in place.
I am moving to another country. What do I need to do?
You need to tell us. Different countries have different licencing parameters. Changing your country of domicile and the registered policy address may mean that you need a different pool of insurers.
What is the difference between liability and skipper liability?
Yacht liability insurance is cover related to the boat. This insures both the skipper and the crew against third-party liability claims arising from use of the yacht. Skipper liability insurance is cover related to a person. It insures this person against third-party claims during use of a hired or chartered boat if the boat-specific liability insurance does not cover the claim in question or if there is no boat-specific liability insurance in place.
Can I go outside my cruising area?
Unplanned departures from the cruising area, in the event of emergency or due to weather routing, remain covered but must be reported as soon as possible. If you need to change your cruising area for a planned change of your cruising patterns, please contact us for a quote.
My yacht is being re-registered. What do I need to do?
You need to tell us. The country registration of your yacht is very important in terms of the insurance. Changing your yacht’s flag may result in changes to the insurance tax rates, depending on the relevant country’s specific tax regulations. Also, as different flags have different licencing parameters, changing your yacht’s flag may mean that you need a different pool of insurers.
Does the policy cover my liability to paid crew?
No. If you employ paid crew you will need a specific policy to cover your employers’ liability risk. Please contact us if you need a quote for Employers’ Liability.
What should I do if I cause damage to a third party?
Contact Pantaenius immediately so we can assist. Refrain from admissions of liability. Take contact details of the third party and any witnesses. If possible, take some photographs of the damage.
What cover is there for my crew?
Pantaenius offer a range of covers for crew, please contact us for a detailed consultation.
Am I covered for single handed sailing?
Single handed sailing is not excluded as standard under the policy terms and conditions. However, for ocean passages you will need to contact us to discuss your crewing arrangements. Underwriters will need to approve these, for cover to remain in place for your passage.
Am I covered for club racing?
Yes. This is covered as standard within your Hull and Third Party Liability policies. On occasion certain warranties may be applied to your policy in relation to racing. If this is the case, this will be made clear on your policy schedule.
Do you cover watersports?
The Pantaenius Third Party Liability policy is very comprehensive, and yes, it includes cover for watersports. It covers the liabilities of the owner, but also the liabilities of anyone else using the yacht with his permission, or engaged in watersports activities from the yacht. For example, if you are out with some friends and towing one of them on waterskies, your liability to them is insured, but so also is their liability to anyone they may hit in the water.And the good news is, watersports cover is automatically included without additional premium, and includes SCUBA activities, as long as properly supervised and equipped.
Who are the insurers and how do I know they will pay my claim?
Pantaenius carefully selects the insurers to underwrite the Pantaenius Scheme. The risk is usually spread between a number of insurers, with each taking its share of premiums and claims. Each “pool” or group of insurers has a “lead underwriter”, who takes responsibility for the pool. Pantaenius has delegated authority to act on behalf of the insurers in underwriting decisions, administering your policy, and handling your claim. In the unlikely event that we need to refer to the underwriters, we only ever need to consult with the lead. All the insurers backing the Pantaenius Scheme are reputable, financially sound insurers, and in each case the lead underwriter for the pool is a major international company with whom Pantaenius has worked closely for many years.The name of the lead underwriter is always stated on any quotation Pantaenius provides, and also on every policy schedule which is issued.
I have quite a lot of sailing experience, but no formal qualifications. Is this a problem?
Almost certainly not. Our underwriters are more concerned with your experience of similar sized yachts, itineraries and sailing conditions, than in formal yachting qualifications.In the unlikely event that someone does not have sufficient experience for the yacht, itinerary or conditions they wish to insure, we try to work with them to resolve this, sometimes asking for a more experienced hand on board until you have built up the necessary expertise – but this is a rare occurrence and usually only applied to new owners with unsufficient previous experience.
Do you have specific crew requirements?
Pantaenius does not set out any criteria for crew requirements, and will always consider individual proposals. Depending on the type and size of the yacht, single-handing is not out of the question, if our underwriters are confident you have the ability to handle the yacht on your own.If you are planning any ocean passages our underwriters will need to approve your crewing arrangements before you set out, but they are always looking at the experience of those on board, rather than just numbers, and will always try to accommodate your plans, as long as they are realistic.
Is it a condition that I keep my boat in a specific marina?
No. It is a requirement with some insurers that you keep your yacht in a named marina, but this is a restriction we don’t like to place on our policyholders. If your yacht is laid up, we generally like to know where it is, and what arrangements have been made for its safekeeping in your absence, but when in commission there is flexibility within your cruising area.