Boat Insurance

Our boat policy provides wide insurance protection against:

• Accidental loss or damage:
  • To your boat whilst it is ashore or afloat, in commission, laid up out of commission, being lifted, hauled out, launched or in transit;
  • To motors, electrical machinery and equipment, batteries and their connections resulting from sudden accidental seepage of water into the boat, directly caused by an identifiable and unexpected occurrence; and
  • To personal items while used in connection with the boat;
• Reasonable costs incurred including salvage charges, in preventing and minimizing a loss covered by the policy;
• Your liability to others; and
• Personal accident for yourself and other persons on board the boat.

The policy may also be extended to include cover for water skiing, racing and chartering.

More information about our Boat Insurance can be found  here.

Your MAPFRE Middlesea Boat Insurance policy includes a wide range of interesting benefits for you, your passengers, and your boat:

• We cover loss or damage to your boat that takes place within the navigational limits whilst it is ashore or afloat.
• We will cover loss or damage to motors, electrical machinery and equipment, resulting from accidental seepage of water into the boat.
• We will cover loss or damage proceeding from the boat striking an underwater or floating object.
• Our policy covers the vessel, whilst in transit by road or ferry anywhere in Malta, including loading and unloading.
• We pay for accidental damage or loss to the boat caused by a governmental authority while trying to prevent or diminish a pollution risk resultant directly from loss or damage to your vessel.
• We include the costs for inspecting the boat following grounding, even if no damage is found.
• In case of loss or damage to the outboard motors we will pay the current replacement value or price less 10% per year from date of purchase as new up to a maximum deduction of 50%.
• We cover your legal liability to compensate other people if someone dies, or is injured, or their property is lost or damaged, as a result of your interest in your vessel.
• We will cover loss or damage to the boat by the sudden and unforeseen malfunction of mechanical, electrical or electronic machinery and batteries and their connections caused by latent defects, faulty design and/or construction failure. Also, we pay for loss or damage caused by faulty maintenance or repair, or electrical, electronic or mechanical breakdown.
• You can subscribe, as an extra cover, the pay for loss or damage, and your liabilities to, of water skiers being pulled by the boat. We cover too loss or damage and your legal liabilities whilst the boat is racing. Also, we will cover loss or damage and the legal liabilities of the charterers as if they were yours.
• We will cover you and other passengers aboard the boat, including while embarking or disembarking, against personal accidents that are the sole cause of subsequent death or permanent total disablement within 12 months of the event.

This policy covers accidental damage to your boat, your liability to others, personal accidents and other incidents.

Our boat policy provides protection against accidental loss or damage to your boat that takes place within the navigational limits whilst it is ashore or afloat. Navigational limits are the geographical limits within which we have agreed to insure the vessel. Also, we offer protection to your boat when it is in commission, laid up out of commission, being lifted, hauled out or launched, all in accordance with the terms, conditions, exceptions and limitations of this policy.

We will cover loss or damage to motors, electrical machinery and equipment, batteries and their connections, resulting from sudden accidental seepage of water into the boat, directly caused by a recognisable and unexpected event.

We cover loss or damage to personal items that do not form part of the boat’s inventory, while used in connection with the vessel, and whilst in transit between your home and it.

We will cover your legal liability, up to the limit stated in the schedule to compensate other people if someone dies, or is bodily injured, or their property is lost or is damaged, as a result of your interest in the boat. This cover is being provided to you and to those in control of the boat with your permission. We will cover the reasonable costs from loss or damage to your boat resulting of attempted or actual raising, removal or destruction of the wreck of the boat, or any failure to do so.

Liabilities assumed under contract, incurred only by an agreement entered into by you or liabilities whilst the vessel is in transit are excluded. We do not pay for accidents or illness to persons contracted by you in connection with the boat.

If you subscribe an additional cover, we will pay for loss or damage and your liabilities to and of water skiers being pulled by the boat, certified that the driver and an eyewitness are on board of the vessel when it is being used for water skiing.

We will cover you and other passengers aboard the boat, including embarking or disembarking, with your permission against personal accidents that within 12 months of the event are the only and independent cause of subsequent decease or permanent total disablement.

This policy has certain requirements that shall be evaluated by the customer. It is very important to consider them in order to decide which insurance policy satisfies better the policyholder needs.

• When applying for insurance, or when making a claim, you must give us true information as far as you know.
• You must maintain the boat in a seaworthy condition at all times, and safeguard it from loss or damage.
• Those in charge of the boat with your authorisation must have satisfied you of their competence before your agreement.

The following restrictions apply to the policy:

• We will not pay for the excesses shown in the schedule except in the event of a total loss (boat irretrievably lost or destroyed).
• We will not cover loss or damage caused by war, invasion, conflict or terrorism. We will not cover either loss or damage caused by any chemical, biological, bio-chemical or electromagnetic weapon, radioactivity, nuclear fuel, nuclear waste or nuclear equipment.
• Damages caused by malicious computer codes and the failure of a computer software to recognise a true calendar date are excluded.
• We do not cover loss or damage or any liabilities occurring outside the period of insurance or when the vessel is operating outside the agreed navigational limits.
• Liabilities and loss or damage arising from hire, charter, reward or any other commercial activity are excluded.
• We do not pay for loss or damage or any liabilities occurred whilst the boat is being navigated at sea single-handedly for a period beyond 24 hours.
• Loss or damage, or any liabilities arising as a result of bad maintenance of the boat are excluded.
• We do not cover loss or damage caused by infiltrations, pollution or contamination, unless directly produced by an unexpected, recognisable, accidental incident happening completely at a precise time and place.
• We do not pay for loss or damage or liability resulting from your trickery or caused by your malicious act, or that of any one using the vessel with your consent. We do not cover either loss or damage or liability whilst the boat is being used for illegal purposes.
• Loss or damage or liability whilst the boat is permanently used as a houseboat are excluded.
• We do not cover any loss caused by, resulting from, arising out of or related to Pandemic, Epidemic or Coronavirus Diseases.

We recommend to the policyholder, in order to receive benefits of all the guarantees of the policy, to consider some relevant aspects before and after contracting the policy:

• The policy is non-transferable if the vessel is sold or transferred to new ownership, this policy will become cancelled from the relevant date.
• As soon as you become aware of an incident that may lead to a claim, you or your legal representatives must tell us immediately, and provide us at your own cost with all the information and help we need.
• If an incident happens, you must forward us, immediately and unanswered, any writ, summons or other legal documents served on you or your family, in connection with any claim or legal liability resulting from injury or damage.
• You cannot discuss, admit, reject or negotiate on any claim with anyone without our written permission.
• Where fraud (including exaggeration) is detected, claims will not be covered and we may refer it to the police for criminal prosecution.
• Once we have made the payment for a claim, we will have no further liability for it.
• If any loss, damage or liability which you are claiming is covered by any other insurance, we will pay only our proportionate share of that claim.
• You may cancel this policy at any time during its term. Any refund of premium will be made from the date we receive your command. Provided no claim or loss has arisen in the period of insurance, we will return part of the premium calculated on our rates for the unexpired period of insurance.
• We may cancel the policy by sending you a registered letter giving you 7 days’ notice. We will refund the appropriate proportion of your premium on a pro-rata basis from the date of our letter.
• If we disagree about the sum to be paid under this policy, you and we have the right to refer to arbitration. We will inform you of this option and you must then write and tell us if you want to proceed. An arbitrator will be appointed in accordance with the statutory provisions. The distribution of the expenses of the arbitration will be determined by the arbitrator. The making of an award is a condition precedent to any right of action against us. Arbitration procedure does not restrain you from appealing against the decision in a court of law.