Pleasure / Charter Yacht Insurance
Charter boats have special insurance requirements. B&R specializes in assisting you find the most appropriate insurance for your charter boat. Our charter boat insurance coverage can cover full time charter business including six pack charter, USCG inspected charter, bare boat charter, fishing guides, and a special program for the occasional charter.
We also have charter boat insurance coverage for fishing guides, charter fishing, sightseeing, day cruises or extended cruises including vessel types.
Let us help develop an insurance policy for your charter business that is tailored to the specific needs of your chartering service. Liability, uninsured boaters, captain and crew liability, and agreed amount value policies are just a few examples of points to consider for your vessel and its intended use.
B&R has been providing quality and competitive charter boat insurance services for more than 10 years. Contact us for a quote or to review your policy options. Come see why we are an industry leader in boat and watercraft insurance.
SPECIFIC COVERAGE
Part Time Charter Coverage
This is a private pleasure yacht policy that has an endorsement to allow for a certain number of days of charter in a policy period. Depending on the company, the number of days allowed is between 10 and 20 days a year. The insured is asked to keep a log of charters. Paid crew can be added depending on the company chosen to write the policy.
Full Time Charter Coverage
This is written on a commercial policy. It allows for full time charter –up to 365 days a year and includes day trips, weekly and extended charters. Paid professional crew can always be added to these policies.
Six-Pack Charters
The same as Full Time Charter Coverage with a maximum of 6 paying guests aboard. These are popular with smaller vessels as the US Coast Guard limits the number of guests to 6 for captained charters on non-certified vessels.
Jones Act/Paid Crew
Any paid crew-mate, captain or just a day worker who baits hooks for a few hours should have liability coverage added to the policy. This is due to the Jones Act, a US law that affects paid crew aboard commercial and private yachts. Paid crew is excluded from the standard liability coverage offered on a yacht. The company must be aware of how many paid crew will be aboard at one time, and in some cases, they will need to know the name of the crew to add to each policy. This can be a problem for “pick up” crew added for just a day but you must make sure you understand the company policy to make sure any paid crew is covered. If they are not covered the insured will not have any coverage from the policy in the event a paid crew person is injured and needs medical attention, or sues for damages for an injury.
Coast Guard Certified Vessels
All vessels that carry more than 6 passengers must be certified by the US Coast Guard. These vessels have water tight bulkheads and many other safety and construction features required to become certified. It is not generally economically feasible to certify a US production yacht made for private pleasure due to the costs involved.
Bareboat Charters
When the vessel is chartered to a non –owner, without a paid captain provided by the owner, or an owner/ operator aboard, this is called Bareboat Charter and requires a different type of insurance coverage that allows for bareboat. In most cases a company that provides bareboat coverage requires the charterer to sign a hold harmless agreement that states the charterer and guests will not sue owner of the boat for injuries aboard during the bareboat charter.
Let us assist you in purchasing the best boat insurance coverage for your performance boat needs. Click here to contact a member of our team or call us at 410.643.3150. Or to get started now, fill out this form and receive a FREE Personalized Quote!
