Q: I am not a regatta organizer, I just want to charter a friends boat for a few days, how can I get insurance for this?

A: WARNING: If you are not a regatta organizer, this insurance is unavailable to you. If you are an individual chartering a friend's, acquaintance's, or some other boat, this insurance is not for you. We will not cover any boat not applied for by the regatta organizer. No exceptions.

Most Individual Boat and Yacht Policies do not provide coverage for chartering. As far as we know, there are no insurance companies that will automatically provide Boat or Yacht Insurance on the temporary basis. You must ask the owner to call his Agent and explain the situation. You can be added to the owners policy as the "Charterer". You will be asked all of the questions as if you are applying for insurance yourself. The normal questions revolve around your experience with this type of boat, your experience and knowledge of the waters you will be sailing in, and if you have experienced any losses. The underwriter will charge a premium for this coverage. Some insurance companies might decline the charter coverage completely. If you are successful with the underwriter, boat damage and liability should be covered based on the terms you negotiate.

Q: If we arrange to give the owner of the boat a sail for use of their boat, is that a Borrowed Boat or a Chartered Boat?

A: It is a Chartered Boat. Any payment of value is considered a charter.

Q: How do I get the deductible lowered?

A: You don't, the deductibles are set.

Q: How is the value of the boat determined?

A: The Event Chair determines the value with each boat owner. The Boat Value Amount you identify must insure the boat to value. What this means is, that you can not put down a $30,000 amount for a boat that is truly worth $60,000, as you’ll need to put down the actual value of a boat.

Q: What is the deadline for applying?

A: Envelope with premium check and application, must be postmarked, or post mark cancelled by the U.S. Post Office, no later than the first date of the event.

Q: Does this insurance cover damage to the covered boat only?

A: Yes.

Q: Does this insurance cover liability of injuring people or damaging other boats?

A: No.  To get this coverage, you need to apply for Excess Protection and Indemnity Insurance separately.

Q: Should we sign the competitors up for Excess Protection and Indemnity Liability Insurance?

A: Most likely, yes. Few Personal Insurance Companies (Home, Condo, Apartment, Yacht) extend the liability to boats that are chartered. We always recommend signing the competitors up for Excess Protection and Indemnity Liability Insurance when the boats are chartered.

Q: What is the most difficult problem you deal with?

A: Legibility of the applications. Some times we need to call you back with clarification questions to help you out. When applying, please write clearly and complete all answers.