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Yacht Insurance in UAE

It is important that yacht owners have the best yacht insurance to guarantee proper coverage in case of an accident that includes damage to the boat/yacht, liability for injury, or damage to your personal property or the property of others. There are two types of yacht insurance available in Dubai, UAE. Third-Party Liability is the minimum cover required by UAE law, while fully comprehensive is the highest level as it includes TPL and damage to your boat.

Perils covered under comprehensive policy are Losses and/or damages to boat/ yacht caused by

  • Perils of the seas, rivers, lakes or other navigable waters.
  • Fire, Jettison and Piracy.
  • Contact with Dock or Harbors, Land Conveyance.
  • Explosions
  • Malicious acts
  • Theft of the entire Vessel or her boat(s) or Outboard Motor(s)
  • Latent defects in Hull or Machinery
  • Loss or damage to any other vessel or property
  • Loss of Life, Personal injury or illness
  • Removal or destruction of a wreck

The following extensions can also be considered on request but subject to additional premium and at terms & conditions agreed.

  • Outboard motor dropping off or falling overboard
  • Person affected
  • Liability to or incurred by any person engaged in water skiing or aqua planning
  • War and strikes risks
  • Machinery damage
  • Inland transit risks
  • Personal Accident cover
  • Medical expenses cover
  • Cruising limits
  • Trailer
  • Fire and safety equipment

Premium rate for yachts and boats depend on

  • Age of the captain
  • Construction
  • Navigation (cruising limits)
  • Purpose of usage [private or commercial]
  • Passenger capacity
  • Previous loss history etc

Planning to buy yacht insurance in Dubai, UAE? Platinum Insurance Broker LLC provides the best yacht, hull, and machinery insurances in Dubai, UAE at the lowest prices.

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