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April 7th, 2011

A Guide to Specialist Caribbean Boat Insurance

With the hurricane season in full sail and the damage to the US gulf states and the Caribbean from hurricanes likely to cause millions of dollars worth of damage, it is a worthwhile exercise to check your Boat insurance cover, with particular regard to hurricane damage exclusions.

Yachtline Insurance of London, one of the major providers of cover for yachts throughout Caribbean region and marine underwriters at Lloyds of London, are warning that in some places, many yacht owners are finding that they are not covered having not complied with the minimum requirements for their policy or taken out or declared the additional hurricane windstorm cover.

Yachtline are pointing out that no matter who insures you, you should observe the requirements for hurricane yacht and boat insurance which are contained within your policy. Make sure you read the small print carefully.

Caribbean Yacht Insurance covers all damage from hurricanes to boats in the affected area defined as north of 9 degrees North and south of 35 degrees North, west of 55 degrees West and east of 100 degrees West. For cover purposes this encompasses the region west from the Venezuela coast and Trinidad in the South to Cape Hatteras in the north.

The Hurricane season runs from June 1st to November 30th and all laying up conditions and procedures must be observed during this period for the yacht insurance to remain valid.

Monohull boats kept out of the water, should be protected in a purpose built cradle made of prefabricated steel. Heavy duty webbing should be applied to the cradle to anchor it down at at least four anchor points.

All catamarans should be securely laid up ashore and anchored as above.

All sails should be preferably stored safely, and all loose articles properly lashed down.

If the boat can’t be brought ashore then stern mooring and guardianage should be arranged with the marina owners.

If boat owners take the simple precautions as laid out in their policy then the number of claims and losses disallowed will reduce. Follow the instructions given when making a yacht hurricane area policy declaration.

More information regarding hurricane insurance, compare boat insurance quotes and yacht cover advice can be found at Yachtline’s website.
34 Sea Ray sundancer 2004 Castaway Yachts sales 419-834-0788

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