Hull insurance (hull clause)

Unexpected and sudden accidents such as sinking, stranded, sitting, collision, fire, explosion, theft (* 1), and wind and flood disasters that occurred while sailing and storing the hull of small vessels covered by insurance such as yachts and motor boats. by an accident, and compensate for the damage caused to the hull, the hull supplied equipment and equipment (※ 2).
However, damage caused to the drive unit (lower unit for outboard motors) such as propellers, shafts, gear units, and cases (in the case of yachts, if damage is caused at the same time as other parts of the yacht, the motor boat or personal watercraft In that case, if the boat or personal watercraft is totally damaged, it will be covered.) And the damage caused to the engine itself due to engine seizure will not be covered.

(* 1) Damage caused by the theft of a personal watercraft is not covered by compensation.
(* 2) Standard equipment / equipment fixed or equipped on the hull and accessories / equipment specified in the insurance request form are covered by the compensation.
* Fuel, food and other consumables are not covered by compensation.

Major accident examples

・ The hull was damaged due to contact with another ship.
・ The hull sank during a typhoon

About setting the insurance amount of hull insurance

The insurance amount will be decided based on the market price (* 3) of the target ship.
If the insurance amount exceeds the market price, the insurance amount will be paid up to the market price.
If the insurance amount is less than the market price, the insurance payment will be reduced according to the proportion of the insurance amount.

(* 3) The amount required to newly manufacture or purchase an equivalent product minus the depreciation due to wear and tear.

Insurance money to pay

<Non-life insurance money>
If the insurance amount (contract amount) exceeds the market price, the market price will be the limit.
If the insurance amount (contract amount) is less than the market price, the non-life insurance amount will be calculated using the following formula.
      Insurance = [amount of damages over deductibles (copayment)] ✕ insurance amount (contract amount) / Fair Value Amount
<Ship wreck removal cost insurance money>
In the case of total loss, the actual cost of removing the ship in response to a removal recommendation or order from the public office (up to 1 million yen per accident)

Main cases where insurance money cannot be paid

1. Damage caused by an earthquake, eruption or tsunami caused by these
2. Damage caused by an accident while leaving the water area within 200 km from the land in Japan and the inland area
3. Damage caused by intentional or gross negligence of policyholders, insured persons, relatives living together, etc.
4. Defects in the hull itself, rust, rot, and other damage caused by natural wear
5. Failure damage
6. Damage caused by engine theft (damage caused by theft with the hull, storage in the boathouse, or depositing with a storage company is covered by compensation.)
7. Damage caused while the policyholder, the insured, relatives living together, etc. are in a state where they may be drunk and unable to operate normally.
8. Damage caused while maneuvering without a passenger with driving qualifications stipulated by law
9. Damage caused by war, civil war, riots, nuclear fuel material, acts of terrorism, etc.

Created in February 2023 2TC-22

Contact

Riviera life support

Phone

0120-535-536

5-23-16 Kotsubo, Zushi, Kanagawa, 249-0008, Japan

[Phoneephone reception] 10: 00-17: 00
[Regular holiday] Tuesdays and Wednesdays