What type of insurance cover is available for my yacht or motor boat?
The policy covers accidental damage to the hull and its equipment, including its' dingy and outboard motor, as well as legal liability to third parties.
What is my policy excess?
The policy excess will vary dependant on the value of the hull.
What amount should I insure my yacht or motor boat for?
The value to be insured should represent the actual market value.Cover is based on the "agreed value" basis.
Are there periods when cover is not extended outside specified ports?
Cover can be extended for outside Maltese waters for specified periods but is always dependant on the agreed in-commission period.
Am I covered if my yacht or motor boat is on the hard and I cause material damage to third party property e.g. a fire breaks out?
Yes, damage to third party property is covered.
Do I need to provide the specifications of electronic equipment installed on my yacht or motor boat?
Customers must list all communications and electronic equipment.
Is equipment held on board covered e.g. outboard engine, ribs etc?
Equipment is covered against theft and other insured perils as long as there is forcible entry.
Am I covered whilst my yacht or motor boat is in transit?
Whilst the boat is in transit on land, cover applies against accidental damage.
Will my trailer be covered whilst left unattended?
Yes, but will have to be immobilised.
What do I need to carry on board my yacht or motor boat?
Everything that is necessary for safe boating, and in conformity with nautical requirements.
Do I need a nautical licence to insure my yacht or motor boat?
Transport Malta is making it mandatory for yacht and boat owners to have a Nautical Licence tying it in with renewal of the boat licence.
How do I make a claim?
Immediate notification should be given so that the insured can be guided accordingly.
Should I authorise repairs prior to getting the consent of Elmo?
No, as this would be in breach of policy conditions.
Should I keep damaged items?
Whilst claim is being processed it is advisable to do so.