COINS - INSURANCE SERVICES
Boat Insurance
MANDATORY LIABILITY INSURANCE (law 2743/99)
According to law 2743/99, the Civil Liability is obligatory towards third parties and private and professional pleasure boats aboard.
All vessels with Greek or foreign flag, or other vessels that are considered high-speed vessels must be insured. This means that all vessels with engine horsepower over 30HP or inflatables with outboard engine above 15HP that have the ability to develop speeds above 15 knots are liable under Liability insurance.
Boats whose horsepower is less than 15HP, as well as small sailboats, whose length is less than 7 meters, are not obliged to insure their Liability.
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CIVIL LIABILITY CHAPTERS (law 4256/2014)
Based on law 4256/2014, the insured funds of Civil Liability are the following:
- Injuries / Death per person:
- Injuries / Death ceiling (group): 500000€
- Material damages: 150000€
- Marine Pollution Challenge: 150000€
- Maximum liability for the company: 800000€
CIVIL LIABILITY WITH MIXED BOAT COVERAGE
In addition to the Civil Liability the owner of the boat can choose the mixed coverage.
Mixed boat insurance covers damage that the boat itself may suffer from fire, theft, collision or collision damage, and maritime hazards.
Mixed insurance policies are governed by:
- The Special Terms of Civil Liability
- The Clause of the Institute of Insurance of London for yachts - Clause 328 / 01.11.85 (Institute Yacht Clauses) and provided that the insured has taken all appropriate measures to protect the boat.
- The Speedboat Clause (Institute Speedboat Clause).
- The War and Strike Coverage Clause.
- The War and Strike Risk Termination Clause.
- The Date Recognition Exclusion Clause.
Institute Chemical, Biological, Bio-chemical, Electromagnetic Weapons and Cyber-attack Exclusion Clause (1/11/2002)]. - The Examination Clause for Radioactive Contamination, Chemical, Biological, Biochemical and Electromagnetic Weapons [(Institute Extended Radioactive Contamination Exclusion Clause (1/11/2002). Institute of Chemical, Biological, Bio-chemical, Electromagnetic Weapons and Cyber-attack Exclusion Clause (1 / 11/2002)].
- Transit Clause - Transit Clause Cl. 122 01.02.80
- Mechanical fault clause Cl.332 / 1.11.85
Mixed insurance coverage
- Dangers of seas, rivers, lakes or other navigable waters.
- Fire.
- Ejection.
- Piracy.
- Impact.
- Earthquake, volcanic eruption or lightning.
- Accidents during loading, unloading.
- Malicious actions.
- Theft.
