Nautical Expert

Motorboat magazine

Top 10 most common yacht insurance claims

Most common yacht insurance claims

Updated on March 9th, 2024

If you know what troubles most often happen to motor yachts, then you can take appropriate measures to prevent such troubles.

1. Boat theft

In fact, this is not a frequent occurrence among yachts. The statistics were polluted by jet skis and similar small water activities, which are the main target of the hijackers. Here you can add inflatable boats left unattended, as well as tenders from yachts. Large boats are stolen much less often, but sometimes it happens.

To protect yachts from theft, it is desirable to use a set of measures, including GPS tracking and other modern systems. Be sure to have high-quality photographs of your boat and hull identification numbers in case the theft does occur.

2. Theft of equipment from the yacht

Everything that does not lie well on the boat (clearly visible and poorly secured) can be carried away. Reliable locks are good, but, as you understand, reliability is a very relative thing.

From the penetration of a random thief inside the yacht, a light-noise alarm can help, but simply mooring in a guarded yacht club is better. By the way, a note in a conspicuous place stating that you removed all valuable items from the boat also, oddly enough, works well.

3. Collision with an underwater object

Skipper’s inexperience, unfamiliar places, high speeds, accidentally floating parts of coastal structures – anything can cause an incident.

4. Collision with another vessel

This is a popular reason for contacting an insurance company in countries with a developed yachting culture. A large number of boats will collide with each other in one way or another due to various circumstances. Although this statistic will again be greatly spoiled by jet skiers. Owners of high-speed gliding boats are also constantly hooligans. Since many of them do not have the necessary skills and knowledge, and sometimes just intelligence, this only aggravates the situation and endangers everyone around them.

However, collisions happen to everyone and everywhere, and sailors, of course, are no exception, no matter how much they boast of their skills. Although sailing yachts are less prone to wind drift and their skippers tend to be more adequate and less selfish, there are exceptions.

5. Boat drowning

Yachts sometimes sink, yes. Surprisingly, most boats sinkings occur near the pier.

6. Loss of yacht tender

The cost of the tender can sometimes be comparable to the cost of some full-fledged yachts. Oddly enough, the loss of a tender at sea is a fairly common reason for contacting an insurer.

7. Storm damage

Storm is not always like in the movies. A sudden short-term squall can create a lot of problems on a yacht. Unlike a forecasted storm, for which you usually prepare thoroughly.

8. Malicious damage

If you yourself do not know about this yet, then we hasten to inform you that in modern society there is a fairly large percentage of not quite healthy and adequate people, so you should not be surprised if during your absence someone damaged your yacht by scratching something with a nail, breaking navigational instruments, or even drilling a hole below the waterline.

9. Grounding

Usually all sailors are divided into those who once ran aground, and those who have not yet done so. It’s just a matter of time. It would seem that this case should be in the first place, but it turns out that this is not the most popular reason for insurance reimbursement.

However, the consequences can be very diverse, up to the complete loss of the yacht. The main thing is not to go sailing after landing aground until a full inspection of the hull is made to identify and eliminate hidden damage. Especially when it comes to a sailing yacht with a ballast keel.

10. Fire on board

Fortunately, with all modern automatic fire extinguishing systems, as well as due to the reliability of ship equipment, fires on yachts are becoming an increasingly rare occurrence. But still they happen.

Fire extinguishers, fire blankets, alarms – everything must be kept up to date, in working condition. Monitor the health of the engine compartment, battery, wiring and electrical equipment. Seal electrical connections and prevent corrosion on terminals.