Yacht / Motorboat Comprehensive Insurance

Hull insurance (hull clause)

Small vessels covered by insurance, such as yachts and motorboats, are subject to unexpected and sudden incidents such as sinking, stranding, stranding, collision, fire, explosion, theft (*3), wind and water disasters that occur during navigation or storage in a boathouse. Compensates for damage caused to the hull, equipment and equipment attached to the hull (*4) due to an accident.
However, damage caused to the drive unit (lower unit for outboard motors) such as the propeller, shaft, gear unit, case, etc. (*5) and damage caused to the engine itself due to engine seizure are not covered.

(*3) Damages caused by theft of personal watercraft are not covered by compensation.
(*4) Standard equipment and equipment fixed or installed on the hull and accessory equipment and equipment specified in the insurance application form are eligible for compensation.
(*5) In the case of a yacht, compensation will be provided if other parts of the yacht are damaged at the same time, and in the case of a motorboat or watercraft, if the boat or watercraft is a total loss, compensation will be provided.
(Note) 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

Insurance amount (contract amount) of hull insurance (hull clause)

Please determine the insurance amount (contract amount) based on the market value of the vessel covered by the insurance.
If the insured amount (contract amount) exceeds the market value, the insurance payment will be limited to the market value.
Please note that if the insured amount (contract amount) is less than the market value, the insurance claim payment will be reduced according to the percentage of the amount less than the market value.
If the insured amount (contract amount) exceeds 1 million yen, the insurance claim payment will be limited to 1 million yen.

Deductible amount (self-pay amount) for hull insurance (hull clause)

The deductible (out-of-pocket amount) per accident for hull insurance (hull clause) is 1 yen regardless of the number of accidents.
*The deductible amount (self-pay amount) does not apply in the case of a total loss (all damage) accident.

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. Compensation for damages caused by war, use of foreign force, civil war, riot, etc.
2. Damage caused by an earthquake, eruption or tsunami caused by these
3. Damage caused by the action of the harmful properties of nuclear fuel material, objects contaminated with nuclear fuel material, or accidents caused by these properties.
4. Damage due to an accident that occurs while leaving the water area or inland area within 200 km of land in Japan (however, if the departure is to avoid imminent danger to the insured vessel or its passengers) (Except when the purpose is to save human life.)
5. Damage caused by intentional or gross negligence of the policyholder, insured person (person eligible for compensation), legal representative of such person, relative living together, etc.
6. Damage due to defects in the hull itself, rust, rot, or other natural wear and tear.
7. Failure damage
8. Damage due to theft of the engine (compensation will apply if the engine is stolen along with the hull, or if the engine is damaged while stored in a boathouse or entrusted to a storage company.)
9. Occurs while the policyholder, the insured (person eligible for compensation), their legal representative, or their relative living together is operating the vehicle in a state where there is a risk of the vehicle being intoxicated and unable to operate normally. damage
10. Damage caused by wind and water disasters such as high tides and storms (damages sustained while sailing, while being stored in a boathouse, or while being entrusted to a storage company are subject to compensation.)
11. Damage caused while the vehicle is being operated without a passenger with driving qualifications as stipulated by law (however, this excludes cases such as emergencies).
12. Damage caused when the vehicle is operated under the influence of drugs, cannabis, opium, stimulants, paint thinner, etc.
13. Damage caused by terrorist acts, etc.