Caribbean Yacht Insurance Warning

With the hurricane season in full sail and the damage to the US gulf states and the Caribbean from hurricanes Ike and Gustav

already running into billions of dollars, Yachtline Insurance of London, one of

the major providers of cover for yachts throughout Caribbean region and marine underwriters at Lloyds of London, are warning

that in some places, many yacht owners are finding that they are not covered having not complied with the minimum

requirements for their policy or taken out the additional hurricane windstorm cover.

“We have insurance loss adjustors working round the clock, particularly on the Islands of Grenada, Jamaica and Cuba which

took some of the worst damage from Ike and Gustav. In many places we have found damage to vessels that could have been

avoided if the proper hurricane risk management had taken place”

Yachtline are pointing out that no matter who insures you, you should observe the requirements for hurricane yacht and boat

insurance which are contained within your policy.

The Caribbean Yacht Insurance cover hurricane

affected area is defined as north of 9 degrees North and south of 35 degrees North, west of 55 degrees West and east of 100

degrees West. For cover purposes this encompasses the region west from the Venezuela coast and Trinidad in the South to Cape

Hatteras in the north.

The Hurricane season runs from June 1st to November 30th and all laying up conditions and procedures must be observed during

this period for the yacht insurance to remain valid.

Monohull boats should be protected in a purpose built cradle made of prefabricated steel. Heavy duty webbing should be

applied to the cradle to anchor it down at at least four anchor points.
All catamarans should be securely laid up ashore and anchored as above.
Mast removal and storage on racks attracts cheaper yacht insurance premiums and should be observed if declared. However masts

removed and properly attached to the hull is usually sufficient.
All sails should be stored preferably, and all loose articles properly lashed down.
If boat owners take the simple precautions as laid out in their policy then the number of claims and losses disallowed will

reduce.

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