Boat Insurance In Dubai
To be able to sail across the Dubai Marina or any where in Dubai and the UAE for that matter, at will and in your yacht, is a great getaway from busy lifestyle, no doubt. Keeping in mind that every thing remains perfect and you are sufficiently safeguarded against unforeseen risks.
But, Imagine facing an emergency situation in the center of the ocean that puts the safety of your vessel and people on board at risk? Your ideal holiday can get ruined in a mere split of seconds despite getting the tiniest of mishaps. But if you have Yacht Insurance In Dubai with proper coverage, you can take a deep breath relax and enjoy the trip.
At Alia Insurance Broker we can offers top yacht insurance policy once we understand your requirements and gather the necessary information.
Types Of Boat Insurance Dubai
There are mainly five types of covers for boat insurance which are discussed as under :
- All Risk Comprehensive Insurance
- Third Party Insurance
- Loss Or Damage To Hull And Machinery
- Agreed Value Insurance
- Market Value Insurance
All Risk Comprehensive Insurance
Third Party Insurance
This policy protects the insured from bodily injury or physical damage caused to a third party by paying for any legal liability as well as paying out for losses.
Loss Or Damage To Hull And Machinery
Agreed Value Insurance
This involves the boat owner and the insurer agreeing on a particular value for the yacht. In case of a case made against the vessel being announced a total damage, the arranged value is reimbursed.
Market Value Insurance
This insurance pays out the money value of your yacht in the event of entire loss. The settlement is usually less than the established value because the insurance provider considers depreciation as well as the entire condition of your yacht through the incident.
Additional Covers For Boat Insurance
There are nine optional covers that help the asset owner in getting overall protection for his/her boat / yacht. The covers are explained as follows :
Extended Geographical Area Coverage
Yacht Plans restrict the geographical place within which your plan is valid. This optional cover broadens the navigational limitations of your yacht.
Personal Accident Cover
This cover protects the insured individuals against accidental physical injury, death or disablement while onboard.
Towing For Watersports Cover
Pull tubes, wakeboarders and normal water skiers require additional protection plans. This program provides cover for your legal responsibility to compensate fatality or physical problems for a person being towed because of your boat.
Commercial Usage Cover
That is a specialized cover for businesses that manage commercial and charter yachts, or book boats.
Emergency Service Cover
This cover consists of search and rescue as well as towing and assistance in case there is an emergency.
Personal Effects/Belonging Cover
This extension covers all components of personal effect carried on-board, lost or damaged due to perils of the ocean, fire, theft, collision or malicious acts. This expansion covers all components of personal belongings taken on-board, lost or harmed anticipated to perils of the ocean, flame, theft, collision or malicious operates.
Protection and Indemnity Cover
That is a collision and liability cover that protects the yacht owner against legal liability which might arise due to collision and harm to alternative party when the payout from third party liability cover is insufficient.
Land Transit Cover
This insurance category covers the vessel whilst in transit between your marina and the owner’s residence and vice versa, through land..
Uninsured Boater Cover
Who Needs Boat / Yacht Insurance ?
Associated with the Maritime Code of the UAE authorities. All recreational, commercial, sporting activities, tourism and traditional marine crafts have to be covered by insurance in the name of the vessel owner, manager or bareboat charterer. This underwriting was endorsed to ensure the highest degrees of maritime safeness and secure navigation uniformly. Inability to obtain insurance coverage for your yacht may lead to hefty fines.
Is Boat / Yacht Covered If Its Outside Of UAE ?
The boat / yacht Protection plans is normally valid only within the coastal waters of the UAE. For better coverage, you can select the optional extended geographical area cover to go with your existing plan.