Comparing charter insurance rates: what actually matters
When comparing rates, the premium is only one factor – the sum insured, excess, geographical scope, and exclusions matter just as much. Two similarly priced rates can pay out very differently in the event of a claim.
Charter insurance often differs more between providers than the premium suggests. Choosing the cheapest rate alone risks unpleasant surprises in the event of a claim.
Premium is only one factor among several
A low premium says little about the actual level of cover. Only by looking at the sum insured, excess, and exclusions can you tell whether a rate really holds up in an emergency.
Check the sum insured and geographical scope
For skipper liability, the sum insured should match the minimum required by the charter base – typically €1 to 3 million. The geographical scope must cover the actual sailing area, such as the Mediterranean, North Sea, or worldwide.
Typical differences between rates
| Criterion | What to check |
|---|---|
| Sum insured | Does it meet the charter base’s minimum requirement? |
| Excess | Does the amount match the deposit held? |
| Geographical scope | Does it cover the planned sailing area? |
| Exclusions | Are charter yachts and crew members explicitly included? |
Excess on deposit insurance
The excess on deposit insurance should match the actual deposit amount in the charter contract. If the deposit exceeds the sum insured, a gap remains that you bear yourself in the event of a claim.
Always compare rates based on the actual policy wording, not just marketing claims – the terms and conditions (AVB) determine the real scope of cover.
Compare charter insurance independently
Put the sum insured, excess, and exclusions of different insurers side by side and find the right cover.
Compare charter insuranceExclusions that are often overlooked
Some rates exclude gross negligence, certain boat types, or trips outside specific sailing areas. Co-insurance of crew members or family members acting as skipper is not a given everywhere either.
Compare rates in the calculator
Compare nowSummary
A meaningful rate comparison sets sum insured, excess, geographical scope, and exclusions side by side – only then does it become clear which rate actually fits your needs. An independent online comparison of different insurers makes this step considerably easier.
Frequently asked questions
Answers to the most important questions on this topic.
Jonathan Posselt
Managing Director, NauticAssure GmbH
Jonathan Posselt is a qualified insurance and financial services professional with more than 15 years of experience in the insurance industry. He is a sought-after speaker at trade fairs and industry events. He has been Managing Director of NauticAssure since its founding and writes about charter insurance, digital processes, and the practical questions around chartering a yacht.