With reefing and rushing off the Turkish coast. The crew stays relaxed, especially when they know the boat is well insured
In cooperation with Generali Austria, Dr. Helmut Tenschert and Walter Schuster developed a new insurance solution for motor and sailing yachts with home port in the Mediterranean. The offer includes all the important elements of all-risk coverage against fixed rates, according to the two insurance managers.
The new cover concept was presented at the Austrian Boat Show in Tulln, which ended on Sunday. Its focus is on "completely covering elementary and realistic risks and omitting useless show risks such as gross negligence, which are only covered to the exclusion of the skipper and owner," said Tenschert and Schuster. The common practice of granting no-claims discounts, which would be granted to every new customer anyway, but would then significantly increase the premium in the event of a claim, was also waived.
With the new tariff, the customer can choose between a deductible of 2000, 3000 or 4000 euros. The insurance premium is then correspondingly different. With the low deductible it amounts to 0.43 percent of the sum insured, with the medium variant 0.38 percent and with the high deductible 0.32 percent - a "probably uniquely favorable offer" on the market, as the managers emphasize.
With an insured value of 100,000 euros, for example, depending on the selected deductible, an annual premium of 430 euros, 380 euros or 320 euros would be due, plus insurance tax in each case.
According to Tenschert and Schuster, further features of the Generali hull tariff are:
- The insurance is all-risk cover, i.e. everything that is not excluded is automatically considered insured.
- Sum insured as a fixed rate and waiver of underinsurance.
- The "fixed rate = sum insured" has no time limit. It applies until the owner agrees with the insurer to determine a different insured value. Clarification of the acceptance of the desired fixed rate within 48 hours.
- No no-claims discount, therefore no premium increase in the event of a claim.
- Rescue, wreck removal and disposal costs are also insured up to 100 percent of the sum insured, up to a maximum of 200,000 euros.
- Transport of the yacht / boat on suitable means of transport, including loading processes in the agreed area of application, is insured. Furthermore, winter storage, stay in the shipyard, including landing and launching.
- Inventory, accessories and equipment are also insured outside the water if they are in a locked room for storage.
- The deductible does not apply in the event of total loss and damage caused by lightning or fire.
More information is available on the Schuster and Tenschert homepage. There you will also find an application form and the terms and conditions, which describe the clauses of the hull tariff in detail.
Boat liability and casco policies are also available from numerous other providers. If you want to find out more about your insurance coverage or want to get specific offers and compare them with one another, you will find it Lots of useful information and a free comparison of providers in the comprehensive insurance special on YACHT online.