Union Insurance

Yacht Insurance

How do you steer yourself to safety through every single storm?

The Union Insurance Pleasure Craft insurance is designed to do it for you. Sail confidently through turbulent waters or unpredictable weather with extensive coverage and innovative plans, designed to protect your yacht and personal effects from physical loss or damage. You can also enjoy protection from any liability towards third parties.

We offer three broad types of coverage for pleasure boats - coverage for own damage, coverage for passenger and third party liabilities, as well as supplementary coverage.

Our customized policies and dedicated in-house claims servicing team, as well as the backing from reputed international reinsurers, guarantees the prompt and fair settlement of all legal claims.

For you, the sea is full of silver linings.

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Coverage for own damage

  • Insurance for loss or damage to yachts

    This includes outboard motors, trailers, and any gear or equipment covered by named perils according to Institute Yacht Clauses.

    Covering loss of or damage to your yacht/boat:

    • Caused by fire, lightning, collision, stranding, sinking, stressful weather conditions, and contact with external objects.
    • Caused by Latent defects in the hull and machinery.
    • Caused by Negligence of any person or personnel.
  • Insurance for theft

    Our coverage applies to the theft of the entire vessel or the theft of machinery, fittings or equipment following the forcible entry into the vessel or store

  • Insurance for damage in transit

    This covers the loss or damage of a boat that is being transited by road on a trailer within the country.

  • Insurance for outboard motors that drop or fall overboard.

  • Insurance for salvage, sue, and labour charges.

Coverage for passenger and third party liabilities

Coverage includes protection from legal liabilities :

  • Damages caused to third parties by the use of your boat.

  • Liability arising out of accident whilst other persons navigating your boat with your permission.

  • The accidental loss of life or injury to any person (other than employees) connected with the use of your boat, including embarking, disembarking or travelling.

Supplementary coverage

This coverage is subject to an additional premium and terms to be agreed upon.

  • Insurance for racing risks

    If you choose to participate in a regatta or official race, this plan covers the replacement value of masts, spars, sails and riggings, up to an agreed upon limit, in the event of any accident.

  • Insurance against other uninsured boats

    This is designed to give you financial protection regarding third-party bodily injuries suffered by passengers of your vessel if caused by an uninsured owner or operator of another vessel.

  • Insurance for personal accidents

    This policy extends to both you and your spouse for accidental physical injuries, deaths, and disappearances that result from the use of the insured vessel. It also covers any medical costs arising from the given situations.

  • Extensions for machinery damage

    This includes coverage for the loss or damage to motors and connections, and electrical equipment and batteries, caused by latent defects in hulls and machinery, the breakage of shafts, or the bursting of boilers, as well as heavy weather, and more.

  • Insurance for war and strike risks

    This covers loss or damage to vessels caused by war, civil war, capture, seizure, mines, derelict weapons of war, strikes, lockdowns, confiscation, and more.

  • Insurance for water skiing

    This coverage is designed for any legal liabilities to (or from) water-skiers for an adequate limit as per your requirement.

  • Insurance for personal effects

    This covers your declared on-board personal effects against losses or damages caused by forcible or violent entries into the vessel.

Our Team

A company is only as strong as its people. Our team consists of specialist underwriters who bring a wealth of expertise and specialized knowledge. They are supported by a highly efficient operations team, equipped with modern technology.

Our team is dedicated to providing tailor-made insurance and risk management services that cater to both individuals and corporates. Our priority is to deliver creative and cost-effective risk management and transfer solutions, as well as innovative products to meet the needs of individuals, corporate clients, and other stakeholders.

We have dedicated client service and claims management teams to be at your service 24/7, and ensure a smooth and transparent claims process whenever you require it.

Claims Process

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Validation & Approval

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  • What does boat insurance cover include and exclude?addremove

    We will provide a Summary of Cover with your policy that will give you an overview of the main cover and exclusions.

    However, to give you a basic idea, boat insurance policies generally protect against damage caused by:

    • Fire/explosion
    • Theft/attempted theft
    • Vandalism/piracy
    • Storms

    Boat insurance policies generally exclude:

    • Wear, tear, depreciation or gradual deterioration
    • Gradual breakdown
    • Corrosion or electrolysis
    • Deliberate acts of negligence or recklessness under the influence of alcohol or drugs

    provide a Summary of Cover with your policy that will give you an overview of the main cover and exclusions.

  • Do I need yacht insurance?addremove

    If you are considering investing thousands of money in a yacht, it’s wise to protect that investment. In addition, evidence of third-party insurance is compulsory at most marinas, harbours, and in recognised mooring areas. To obtain an inland waterways licence, you may need to produce proof of third party insurance.

  • How do I value my yacht?addremove

    The value of your boat should reflect the current market value. The price you paid for the boat is normally a good indicator of this. Where the value is not known or ambiguous, we may need an independent valuation.

  • Does my policy cover racing?addremove

    Not automatically. The cover is normally available at an additional premium.

phone 800 UIC4U (84248)