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Boat Insurance FAQs

Yacht Insurance Cover

Question

Can you recommend where to leave my boat in the Caribbean?

Answer

There are a number of yards, on various Caribbean islands, whose storage facilities we have inspected and approved, and we will be happy to discuss your individual requirements in greater detail. Admiral regularly visit yards in the Caribbean and can provide advice on lay-up solutions.

Question

Do you provide cover for named windstorms?

Answer

Yes, we are one of the few UK-based yacht insurance providers who can offer named windstorm cover in the hurricane and cyclone area. If you are going to leave your boat during the hurricane season, we will ask you to complete a hurricane questionnaire. Please see our handy guide to Caribbean lay-up.

Question

Can I have a policy longer or shorter than the usual 12 months for my blue water cruising?

Answer

There are occasions in the first year when we would suggest a shorter or longer policy period enabling you to have a renewal date at a more convenient time, i.e. when you are back home and better able to review your renewal options. For participants of a long distance rally such as World ARC, we recommend an initial renewal date to tie in with the beginning of the hurricane season or the start of the event. With World ARC we prefer a 1st January renewal date allowing for boats to conveniently be in South Africa, and hopefully for their cruising plans to have been formulated when they arrive in St Lucia.

Question

What if I don’t know what my cruising plans are?

Answer

It is not uncommon for blue water cruisers to be unclear on their cruising plans, particularly in the early stages of a 2 or 3 year extended voyage. Rather than insuring for cruising areas you don’t require, we suggest that if there is uncertainty about the areas to be covered, you opt for a more limited range with an option for extending. You will know how much extra premium is required and be able to budget accordingly.

Question

Can I extend my cruising range mid-term?

Answer

Yes; we are happy to accommodate changes, to cruising area or any other aspect of your policy, at any time during the year. Such amendments may result in an additional premium becoming payable, but we do not charge administrative fees for mid-term changes.

Question

Does the policy include Employer’s Liability cover for my skipper and crew?

Answer

Your policy covers the liabilities of your skipper and crew to third parties whilst they are operating your boat, but does not include cover for your liabilities to paid crew. We can arrange separate Employers Liability insurance for you with a specialist provider.

Question

Does my policy provide cover for single-handed sailing?

Answer

Yes, but normally only during daylight hours and only for 100 nautical miles per 24 hour period. Depending on your requirement and experience, it may be possible to extend this element of cover. Please refer to your policy schedule.

Question

Does the standard policy cover me for racing?

Answer

Yes, the standard policy allows you to take part in any race or regatta, but there is no cover for the rig whist racing unless caused by collision, stranding, sinking or fire. The hull would be covered, but the excess would be doubled whilst racing. You can buy additional cover for the rig whilst racing; the cost depends on the replacement cost of the entire rig (mast, spars, sails, standing and running rigging) and the amount and type of racing that you will be undertaking.

Question

How much will I be paid if my boat is a total loss?

Answer

Your policy is one of “agreed value.” This means that, in the event of total loss by an insured peril, your claim will be assessed on the basis of the insured value stated on your policy schedule at that time and in accordance with the terms of your policy.

Question

What do I do if my requirements change?

Answer

Call us on +44 (0)1722 416106 as soon as possible to inform us of any changes. We are happy to accommodate changes at any time during the year, whether they relate to contact details or any other aspect of your policy. Such amendments may result in an additional premium becoming payable, but we do not charge administrative fees for mid-term changes.

Question

Why is a No Claims Bonus entitlement not shown on my quotation?

Answer

We do not offer No Claims Bonus on any policy where the insured value exceeds £200,000 and/or where the boat is spending the majority of the policy period outside UK and European waters. We prefer to take individual circumstances and experience into account and to quote a competitive premium which means that if you make a claim, your following year’s renewal premium will not suffer the loss of a No Claims Bonus that might otherwise have applied.

Question

Will my policy be renewed automatically each year?

Answer

No, we do not believe in automatic renewals. We will offer you a renewal quote about a month before your policy is due to expire, and we will ask you to tell us if there have been any changes to your requirements and whether you wish to continue insuring with us.

Making a Claim

Question

If I hit a third party will I have to pay for their repairs and claim back from Admiral?

Answer

Provided that you are legally liable for the damage claimed, we can work directly either with the other owner or their insurer to settle their part of your claim.

Question

If I wish to defer my repairs until my yacht is lifted out at the end of the season is this allowed?

Answer

Yes, provided your yacht is seaworthy and safe for you to continue using her. Our appointed surveyor will advise us on this if we have engaged one on your claim. We can keep your claim open until the repairs have been completed, provided no additional costs are incurred due to the delay.

Question

Repair yards and equipment suppliers often require large deposits before they will start work – can you assist with paying these?

Answer

Yes, we can arrange to make these payments on your behalf, once we have approved the estimates for the repair work. We can also make direct payments to settle final invoices when the work has been completed to your satisfaction.

Question

Do I have any choice as to who carries out my repairs?

Answer

Ideally you will have been able to obtain two competitive estimates for the repair work which we will review with you and our surveyor. You will have the opportunity to advise us as to your preference for the source of the repairs which we will consider. Provided there is not a significant difference in cost between the estimates and we all agree that your preferred yard has the required skills, facilities and capabilities, you will be able to use them.

Question

When I notify a claim how long will it take for you to reply?

Answer

The Admiral Claims Team will respond as soon as your message is received during waking hours. We monitor our e-mails out of office hours in order to be available as soon as we are needed. We will respond by phone to provide advice in an emergency and we will arrange prompt local support for you from an experienced surveyor if appropriate. We will then maintain regular contact with you during the claim repair period to assist when required.

Yacht Insurance FAQs

Testimonial

I want to thank you and your staff for the sympathetic and professional manner in which our claim has been conducted by Admiral. The whole affair was somewhat complicated, and followed shortly after we had completed a circumnavigation, so we were especially pleased with the straightforward way that Admiral handled everything.

Swan 431, Susquehanna, Hugh Spencer

Read More Testimonials

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