Which insurance for the boat in rental management ?
When a boat is sailing, and even when it is docked, it can be damaged by sailors on board, in the vicinity or in its environment. The yachtsman is therefore entitled to wonder how his property is protected, even more so when it is entrusted to rental management and he is rarely on board. For this reason, the contracts of specialized companies provide a good framework.
Insurance taken in charge by the renter
Today, the large companies sign with the majority of their clients contracts with guaranteed income or sometimes forward sales. In this case, they take over the entire insurance of the boat. "At Navigare Yachting, the guaranteed income program represents 90% of sales. In this case, the title is in the name of the owner or his banker in case of financing, but Navigare is the owner, with full exploitation of the boat during the 66 months of the contract. We therefore take care of all port and maintenance costs, as well as insurance" explains Clément Dael of Navigare Yachting France.
Only the variable income programs, which are very much in the minority and reserved for clients with very specific demands and particular sailing programs, involve the shipowner remaining the owner, taking on maximum earnings, but also the risks and responsibility of insurance.
Contractual commitments
For the client, all the elements related to insurance are detailed in the rental management contract, with a dedicated article. The rental company undertakes to have insurance adapted to the navigation zone, covering for example the cyclonic risk in the West Indies.
In the event of damage, he takes care of repairs on his own if it is more economical or to use the insurance. "In the event of a total loss, the discounts are detailed when the contract is signed, the boat being reimbursed by us at 100% for the first 2 years, with an evolution up to 45% of maximum discount in the 6th year. The client has visibility from the beginning, to keep our state of mind of navigation without constraint" specifies the manager of Navigare Yachting France.
A boat maintained in condition
Ensuring the condition of the boat is more than just insurance. Regular maintenance and detection of problems during operation is essential. "Navigare Yachting has made the unique choice on the market of not having any deposit or deductible system. This is included in the care free pack and allows the renter not to be afraid to inform us if there is a problem on board. Our teams of trained technicians and the possibility for the owner to check online the maintenance ends to reassure him" concludes Clément Daël.
