Why is consequential damages insurance for charters worth buying?

There is always a risk that you will cause to the chartered vessel a damage impossible to repair in hours, with the result that it the boat will not be ready in time for the next charter trip. In such a situation, you can expect regress claims for the loss of the charter business, either for legal reasons or as a result of the charter contract signed.

The consequential damages insurance for charters covers legitimate regress claims arising from the loss of charter business from the fourth day of the subsequent charter and up to a total of €13,000.

With this cover, you can charter any boat anywhere, as often and for as long as you want – worldwide!

NOTE:

Our competitor’s products available on the market that include consequential damages insurance in the skipper’s liability insurance differ significantly from ours. The cover they offer is only limited to follow-up costs you are legally obliged to pay by the laws of the country in question (General Liability Insurance Conditions (AHB) ).

Because this is not enough for the charter companies in many cases, there is sometimes an agreement in the terms and conditions of the charter contract to the effect that the charteree must pay the costs of consequential damages he has incurred (thus, the legal requirement may be replaced by a private contractual agreement).