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Published on the 30th June 2015

Bring on the season – Boat Insurance Focus

Reading Time: 3 min read

In a world of uncertainty, security is a valuable asset – the right protection can go a long way. Our specialised and tailor-made boat insurance is available for the vast majority of boats and yachts. Whether you have an open boat or a cabin cruiser, something that’s brand-new or one that’s seen its fair share of use, GasanMamo Insurance can provide you with the protection the protection you need for your peace of mind at sea or on land.
Think about how much you spend on your boat. Are you protecting your investment from fire, accidents or other potential causes of damage?

What about protection in the event of an accident?

Buying the right insurance is a smart decision. GasanMamo Insurance has a comprehensive, easy to understand and competitively-priced package that’s just right for you.

Our boat insurance product is a multi-section insurance policy. It protects your boat and covers you for your liability towards others, including your passengers. The insurance protection applies while your boat is in commission or whilst it is laid up, provided that the boat is used within the cruising limits specified in the policy and for private and leisure purposes.

Significant features and benefits

Loss or damage to the vessel and equipment caused by external accidental means including, but not limited to:

  • Theft
  • Stress of Weather
  • Stranding or Sinking
  • Collision or Contact
  • Fire or Lightning
  • Explosion
  • Bursting of Boilers
  • Malicious acts or vandalism
  • Accidents in loading or unloading
  • Transit by road or ferry in Malta
  • Loss or damage to outboard motors through dropping off or falling overboard
  • Loss or damage to oars and sculls, wet suits, water skis and tow ropes
  • Theft of fishing equipment, diving equipment and marine sports equipment
  • Sighting Costs of inspecting the underwater part of the hull of the insured vessel after a stranding even if there is no damage (Limit: €2,500)
  • Fire Extinguishing Appliances and Safety Flares – the cost of replenishing fire fighting appliances and safety flares following a fire on board the insured vessel (Limit: €250)
  • Emergency and Salvage Charges reasonably and necessarily incurred, up to the sum insured, in the safeguarding and/or recovery of the vessel where the expenses are designed to minimize a loss covered by the policy
  • Legal Costs incurred with the written consent of GasanMamo Insurance Limited
  • Travelling Expenses reasonably incurred to travel back to Malta following damage to the vessel by an insured peril during use in foreign territorial waters (Limit: €1,000)
  • Replacement of Passport Costs if these are lost and destroyed whilst on the vessel when in use (Limit: €150)
  • Personal Accident Cover against bodily injury or death caused by violent, accidental, external and visible means sustained during the period of insurance whilst embarking, disembarking or whilst on board the vessel (Limit: €12,000 per person)
  • Third Party Liability in respect of accidents happening on and about the vessel including death or bodily injury and damage to any other vessel or property
  • A No Claims Bonus scale up to a maximum discount of 25%
  • A Free Water Skiing Extension
  • Free Italian Waters cover with increased limit of indemnity as per Italian statutory requirements.
  • Optional cover for racing risks.
  • 10% discount if policyholders have their motor vehicle insured with the company

Additional Benefits also included

Further Provisions

For any further information on this product, please contact Ms. Anneliese Busuttil on[email protected] or on direct telephone 23490206.