Yacht Insurance
Protection that travels with you to every destination!
SoEasy Insurance’s Yacht Insurance has arrived to make your sea journeys even safer. Specially designed for water enthusiasts, it offers comprehensive protection for your vessel, covering a wide range of boat types including sailboats, speedboats, jet skis, or any other recreational craft.
SoEasy’s insurance policy can cover both your boat’s own damages as well as your third-party liability, while offering the option to add a multitude of optional coverages.
With Yacht Insurance from SoEasy Insurance, you can enjoy the sea with the confidence that your favorite vessel is fully protected from any contingency, whether it’s at sea, in port, or laid up.
What Does the Insurance Plan Cover?
SoEasy Insurance’s policy includes a wide range of basic and optional coverages. Each owner can choose to insure their vessel either only for Third-Party Liability or also for Own Damages.
Basic Third-Party Liability Coverages:
- Compensation for damages to other vessels or third-party property
- Coverage for bodily injuries or loss of life of third parties
- Legal expenses in case of liability disputes
- Appearance expenses in accident-related investigations
- Marine pollution coverage (for Greek territorial waters)
Specifically for Greek Territorial Waters (Law 4926/2022):
- For death or bodily injury: €150,000 per person and up to €2,100,000 in total
- For property damage: €150,000 per incident and up to €450,000 in total
- For causing marine pollution: €150,000 per incident and up to €450,000 in total
Basic Own Damage Coverages:
- Damages from sea, river, and lake hazards
- Damages from fire or explosion
- Protection in case of piracy
- Damages from collision with port equipment, docks, or other objects
- Damages from earthquake, lightning, or volcanic eruption
- Coverage for accidents during loading or unloading
- Protection from malicious acts
- Coverage for theft of the entire vessel or its parts
- Inspection expenses after grounding
- Salvage and wreck removal expenses
Optional Coverages
At SoEasy Insurance, we understand well that each vessel has unique needs. That’s why we offer a range of optional coverages that allow you to customize your policy to your own requirements.
- Speedboat Clause (for vessels over 17 knots)
- Mechanical Breakdowns
- Personal Effects Coverage
- Material Damages During Road Transport
- War and Strikes Coverage
- Racing Coverage
- Water Skiers’ Liability
Types of Vessels Insured
- Speedboats
- Motor Vessels
- Sailboats
- Jet Ski / Sea Bike / Scooter
- Private Vessels without an engine
- Motor Passenger Vessels with Crew (Tourist)
Why Insure Your Vessel
Every owner knows that purchasing a vessel is a significant investment, both financial and emotional.
SoEasy Insurance’s Yacht Insurance ensures the protection of this investment from any unforeseen danger, whether it’s natural disasters, accidents, theft, or damage from third parties. Don’t allow a single incident to turn your dream into a financial nightmare.
Some reasons to insure your vessel:
Financial & Legal Protection
- Protect Your Investment: Secure your investment from natural disasters, accidents, and theft.
- Legal Obligation: Third-party liability insurance is mandatory by law for Greek Territorial Waters, and non-compliance results in fines.
- Coverage from Third-Party Claims: Protection from costly compensations in case of an accident.
- Protection from Environmental Fines: Coverage for marine pollution and restoration costs.
Practical Benefits
- Safety of Passengers: Enjoy maritime experiences with peace of mind.
- Rescue & Towing Expenses: Coverage for unexpected expenses in case of breakdown.
- Protection during Lay-up: Your vessel is insured even when not in use.
- Customized Coverage: Choose the coverages that suit your needs.
With SoEasy Insurance’s boat insurance, you enjoy the sea with peace of mind, leaving your worries on land.
Frequently Asked Questions
What types of vessels can I insure with SoEasy Insurance?
At SoEasy Insurance, we insure a wide range of vessels, including speedboats, motor vessels (non-speedboats), sailboats, jet skis/sea bikes/scooters, private vessels without an engine, as well as motor passenger vessels with crew (tourist vessels).
What is considered a "speedboat" and why does it need special coverage?
A speedboat is considered a vessel capable of sailing at speeds above 17 knots (31.48 km/h). These vessels require special coverage due to the increased risks associated with high speed and need additional terms for their appropriate protection.
What documents are required to insure my vessel?
To insure your vessel, you will need:
- Vessel Registration Certificate
- Four photographs from the four angles of the vessel and its interior
- For vessels over 15 years old, a Surveyor’s Report is required
What does Third-Party Liability cover?
Third-Party Liability coverage compensates third parties for damages you may cause with your vessel, including material damages to other vessels or property, bodily injuries or loss of life, as well as damages from marine pollution. It also includes legal expenses in case you need to dispute your liability.
What is not covered by boat insurance?
Some of the common exclusions include:
- Outboard motor lost due to disposal or falling into the sea
- Dinghy that does not have the name of the main vessel permanently marked
- Damage to sails and equipment during races (unless you have chosen the corresponding optional coverage)
- Personal effects (unless you have chosen the extension)
- Damages caused by design or construction defects
- Mechanical breakdowns (unless you have chosen the corresponding optional coverage)
Is my vessel covered when it's not in use?
Yes, your policy covers the vessel both in service (when at sea, in port, docks, or marinas) and when laid up (out of active service), provided that the lay-up terms mentioned in your policy are observed.
What happens to the vessel's insurance if I sell it?
In case of sale or transfer of the vessel to new ownership, the insurance automatically becomes void. It is important to immediately inform SoEasy Insurance in such a case, so that the policy can be canceled, and you can receive a proportional refund of premiums for the unused period.
Does the insurance cover commercial use of the vessel?
The basic insurance covers vessels used only for personal recreation. If you wish to use your vessel for commercial purposes (rental, charter, or other fees), a special agreement with the insurers is required.