Yacht-Pool
skippers´ liability insurance
Why a skipper liability insurance policy? (PDF)
Because in principle you are personally liable – with all your present and future assets – for damage which you have culpably caused to other people or material.
Because your personal liability insurance policy does not cover liability claims arising from the actions of the skipper or crew.
Because being the skipper, you are also liable for the members of the crew.
Because liability disclaimers relating to crew members may not be applicable against third parties (e.g. pension insurance claims by the injured party).
Because you are unaware of the actual extent of insurance cover on a vessel which has been chartered. All too often the insurance cover is limited to the value of the ship, which in turn may be much too little in view of the unlimited personal liability. In many cases only specific, listed forms of damage are covered, for example damage in the event of a collision, etc. But you will be held liable for all damage.
Because you do not know whether there is any insurance cover at all. And because you do not know whether the premium has been paid on time, which in turn could mean that the insurer is released from all obligations – in which case you have no insurance cover whatsoever!
Because ships sailing under foreign flags are normally insured under foreign insurance terms and conditions and in the local language, which means that it is virtually impossible for you to assess the actual scope of the insurance cover.
Because none of the liability insurance policies which we are aware of covers liability claims by the yacht owner for damage caused to the chartered yacht itself as a result of gross negligence on the part of the skipper.
Because YACHT-POOL covers even damage to the chartered yacht caused by gross negligence!
The difference between liability and deposit (bonding) insurance (PDF)