What is this type of insurance?
The insurances related to the possession and use of vessels are:
- civil liability insurance related to the possession and use of vessels (sea, lake, river and canal vessels);
- casco insurance of vessels (sea, lake, river and canal vessels).
The object of the insurance are the hull, the motorcycle, the machines, the masts, the sails, the mechanisms, the lifeboats, the fuel, the food for the crew and other necessary equipment and equipment for normal sailing of all sea, lake, river and canal vessels. The scope of the insurance coverage does not include the fishing tackle, the mooring facilities and personal property of the insured, the crew members, the partners and other persons on board the vessel.
What does the insurance cover?
The insurance covers partial damage, total structural or total actual loss of the insured vessel, arising as a result of the following risks related to the conditions of navigation in seas, lakes, rivers and canals:
- storm, hurricane, lightning, earthquake, volcanic eruption and other natural disasters (these are the so-called force majeure or force majeure);
- getting stuck, hitting an unknown underwater object, shipwreck, overturning, sinking, disappearing without a trace;
- collision or impact with a floating, moving, stationary or flying object;
- fire on board, explosion on board, explosion in boilers;
- damages received during loading and unloading works, as well as during the connection of the ship with the shore facilities;
- the consequences of a hidden defect in the mechanisms, ship devices, systems, accessories and fitting;
- malicious actions of third parties (these are partial damages to the hull of the vessel) and theft of the entire vessel.
The insurance coverage may also cover all reasonably incurred costs incurred by the insured in order to prevent, limit and reduce damage, the costs of transporting the vessel to the nearest port or place of repair, as well as the costs of securing the rights. of the insured against third parties. The insurer's liability may also include costs for rescuing a distressed vessel.