We work with Sealogy, a specialist in charter insurance, so you can insure two risks that can get expensive on a charter: losing your security deposit, and being held liable as skipper. You buy the policies directly from Sealogy.
Security deposit insurance
Even experienced skippers get caught out: a gust while mooring, a scratch that the charter company finds at check-out. Sealogy's deposit insurance covers the case where the owner or charter company keeps part or all of your security deposit because you or your crew damaged the yacht. Sealogy reimburses you in cash, up to the insured amount, minus a deductible of 10% of the deposit (at least €100).
Check deposit reduction offers carefully
Some charter companies offer to reduce your deposit for a fee. That can be quick and cheap, but read the conditions first, in particular:
- how much excess you still pay per claim
- what happens in the case of gross negligence
- which damages are covered and which you remain liable for
What Sealogy's deposit insurance gives you
- reimbursement of a retained deposit, up to the insured amount
- help with disputes with the charter company
- a personal advisor for your claim
- cover worldwide, from the start of the policy to the last day of your trip
Which deposits can be insured?
Deposits from €500 to €15,000, so it works for a small sailboat as well as a large yacht.
Can I buy deposit insurance where I live?
That depends on your country of residence, not on where you charter. Residents of the USA, Canada and Russia cannot buy it. To check your country:
- Open Sealogy's charter insurance page.
- Select your country of residence.
- Products you can buy are shown in black, products you cannot buy are greyed out.
When can I buy deposit insurance?
Any time up to the start of your charter, as long as it is before you board. There is no minimum lead time.
Can I insure the deposit for a day charter?
Yes. The premium depends only on the size of the deposit, not on how long you charter, so a day costs the same as a week.
Skipper liability insurance
You would not drive a car without liability insurance, and the same logic applies to skippering a yacht. As skipper you are personally liable for damage or injury caused by negligence, and that can put everything you own at risk. Charter yachts should carry liability insurance, but the cover often has gaps, especially with foreign insurers, and it may only pay for minor damage. Do not rely on a verbal "the boat is insured".
What Sealogy's skipper liability insurance covers
- worldwide cover for the skipper, crew and guests
- personal injury and property damage: €3,000,000 or €6,000,000 lump sum
- financial loss: an additional €100,000
- gross negligence damage to the chartered yacht: up to €550,000
- liability claims between crew members
- use of the yacht's dinghy and water sports
- security deposit if the yacht is seized: up to €50,000
- the owner's lost charter income after serious damage: up to €20,000
- hotel and travel costs if damage ends your trip: €1,000
The deductible is €2,500 per claim. The policy covers private, non-commercial use of chartered yachts, not regattas.
How to buy
Go to Sealogy's charter insurance page, choose the policies you need and buy them online. If a claim comes up, Sealogy deals with the charter company or the other side's insurer for you, including abroad.
