What about cancellations? There are at least two kinds of insurance coverage you should have for your charter:

1: Cancellation and Curtailment Insurance - This reimburses the cost of your charter. If you or any of your guests has to cancel the charter, or leave part way through the trip. Cancellation and Curtailment Insurance is available on request to cover the loss of Charter Fee if a charter has to be cancelled by the charterer for genuine reasons. This is available at a cost of approximately 2% to 5% of the charter fee. Should the charterer [without cancellation insurance] give notice of cancellation of the Agreement on or at any time before the commencement of the Charter Period, the Charterer shall remain liable for all payments due to the Owner prior to and unpaid at the date of cancellation.

2: Charterers Liability Insurance – All yachts has insurance to cover Charterers Liability Personal Accident and Medical Insurance plus Personal Effects Insurance is also essential and is not included in the charter fee.

Written by :

The - YCT - Yacht Charter Team.