Insurance payment for a calendar year
This payment depends on differing risks arising during yacht operation. In most cases it equals 0.7 to 1% of the assessed value. Its determination may be performed on the basis of the latest technical examination or surveyor decision. Vessel price, size, year built, loss ratio statistics, captain’s qualification, crew list, and the amount of insurance coverage, including the risks list are basic aspects of risks estimation.
The right way to determine yacht insurance cost
To determine yacht insurance cost (minimal for a ship owner) for an insurance contract, it is necessary to fill out the form, specifying the following: