Yacht Insurance for all yachts, boats and pleasure craft in the Philippines, Malaysia and worldwide.
You should insure your yacht for the same reason you would insure your car or your house - if disaster strikes (by your hand or by the hand of another) an insurance policy will ease the burden of recovering your investment in your boat and will protect you from claims by others. Whether by accident or by force of storm, insuring the yacht that is your source of business, enjoyment or pleasure, makes good sense.
yes, third party liability insurance is now a requirement when cruising in Malaysia and parts of the Philippines and it is available here for all yachts in all locations, just fill out the Insurance Quotation Request link below and check the box for Third Party Liability . . .
you can get an insurance quotation online for free, without obligation, for your yacht, boat or pleasure craft, just click this Insurance Quotation Request link and fill out the form, a quotation will be emailed back to you, usually within two working days and, if you like the quote, insurance cover will begin immediately following payment.
Third Party Liability insurance is technically required everywhere and it makes good sense to have it, but some places are especially strict, for example: if you want to pull into a berth at Subic Bay Yacht Club or Cebu Yacht Club then you are required to have at least Third-Party Liability boat insurance; in most other Philippine marinas and recognised anchorages insurance is optional at the moment but that is likely to change as MARINA (the Philippine Government regulatory authority for on-water craft) is sharpening its focus on compliance by pleasure boat and other water craft owners and operators.
Third Party Liability insurance is required everywhere in Malaysia. When entering Malaysia by boat, insurance is one of the items that will be checked. Third Party Liability insurance for Malaysian waters should include Wreck Removal and Environmental Damage cover. All marinas in Malaysia will require Third Party Liability insurance and some require Fully Comprehensive. If you are planning to use a marina in Malaysia then you should check their specific requirements in advance.
if you included Storm Cover in your yacht insurance policy then you are covered for storm & typhoon damage. There are two levels of storm and typhoon insurance: Standard Cover, which includes Tropical Storms reaching Beaufort Scale Force 7 to 12 (28 to 64 Knots) but excludes Numbered Storms & Named Storms; and, All Storm Cover, which includes Storms beyond Beaufort Scale Force 12 - Numbered and Named Storms. Provided you have followed the prerequisites in terms of securing your yacht in advance of the Storm and taking all reasonable actions necessary to protect your yacht during the passage of the storm you can be covered.
In the Philippines, where typhoons are occasional threats from June to November, you are expected to have a responsible person aboard the yacht at all times if the predicted storm path suggests in excess of 35-knot winds in the vicinity of your yacht anchorage or marina berth. Regularly check the Joint Typhoon Warning Center website for forecast storm tracks and related wind speed information that may affect your boat's location.
Southern Mindanao (especially Davao Gulf and Sarangani Bay), opening to the Celebas Sea, are considered year-round typhoon-free locations for anchorages, marinas and moorings.
a lot depends on the value you want to insure your yacht for and whether the insurance company believes it is a reasonable risk. Typically, you will need a survey if you are asking for Fully Comprehensive insurance with a relatively high value for the yacht / year but not for Third Party Liability boat insurance.
if you have selected "New for Old" in your insurance application then in the event of a claim the underwriters will replace with new equivalent any equipment damaged beyond economical repair that is up to five years of age where proof of age or purchase can be provided.
yes, you can call 09165940540 and we will try to answer any other questions but we cannot give you a verbal quotation, for quotations please fill out the form found using this Insurance Quotation Request link
if you have requirements that are not met here then drop us a line and we will make inquiries for you:
contact Philippine Yacht Charter.