Pleasure craft insurance in Dubai covers loss or damage to your boat caused by an unpreventable accident or unknown incident. It is a good idea to do a little shopping around as coverage is different at each insurance company. There are Companies that may not insure the type of boat you own.
These are questions you should be prepared to answer and the documentation you will need to get pleasure craft insurance.
- There is usually are rules on the maximum speed of your boat that the insurance company will insure. If the boat has a motor over the described limit, they will want additional information to have it approved. This is the time where having your home, auto or liability policy with them, helps in getting an approval. You should definitely go through your broker as they will know how to set up an arrangement with the underwriter. Some insurers may customize a boat package for your rather then lose you to another company.
- The underwriter at the insurance company will need all the pertinent information such as the age, speed, length of the boat, and horsepower of the engine. Some insurers will require a survey if the craft is older than 7 years. If it is a specialty boat, they will want an appraisal. Ask your broker which marine appraiser is accepted by the Company.
- If you are insuring a sail boat, they will definitely want to know the experience of the operator and/or crew. If it is a larger type of boat. The insurance companies usually want 5 years experience.
- Claims/loss experience is another critical factor. They prefer clients with at leased 3 years who have been claims free for three years or more.
- Your pleasure craft insurance covers for the loss of life or personal injury or damage to third party property caused by the use of your boat. The policy also covers liability for any injuries and coverage for an unfortunate death or injury of a passenger.
- You can sometimes offer extras to insure personal possessions which are on board such as life jackets, life rafts.
- It is imperative that nobody without experience, operates your boat at any time. The Company could decline a claim if he/she was driving.
Many Insurance Companies are now asking for drivers licenses to check your driving record before insuring your boat. In most countries you have to write an actual boat test before you can operate any type of craft other than a canoe. There are strict laws on what you must have in the boat before leaving shore. If you don’t have them and you are stopped by the marine police, you will be fined. If you are speeding, you will be charged just like you are when you are driving your car. It will show up on your drivers license, which could cause a problem with your auto policy.
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