Is my Yacht Covered by Standard Marine Insurance During Road Transport?
In most cases, no. Standard marine insurance policies typically include an overland transit exclusion, which means your yacht is not covered the moment it is lifted from the water and placed on a trailer for road transport.
To ensure your vessel is protected during transit, you should consider the following:
- Request a Transit Endorsement: Contact your insurance provider to add a specific rider or endorsement to your policy. A single-event endorsement is ideal for one-time moves, while a recurring rider is better if you transport your boat multiple times a year.
- Verify Hauler Coverage: While the transport company carries cargo liability insurance, this coverage is often limited based on the boat’s weight or a specific declared value. It may not cover the full value of a luxury yacht.
- Hull Insurance Requirements: Your personal hull insurance covers the craft’s full agreed value, but it is usually subject to a deductible and requires the aforementioned overland endorsement to remain active during the haul.
- Documentation: Insurers often require that your pleasure craft licence be up to date and may even request a pre-transport survey. It is also recommended to document the vessel’s condition with photos before it is loaded onto the hydraulic trailer.
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