Ostsee – Insurance

OSTSEE – INSURANCE

Insurance for yacht charters on the Baltic Sea

WHICH INSURANCE POLICIES ARE ALREADY INCLUDED WITH YOUR CHARTER?

All First Class Sailing charter yachts on the Baltic Sea already come with an insurance package. This includes comprehensive hull insurance for insured damage to the chartered yacht, third party liability insurance for insured damage involving others, and charter cancellation insurance.

Even with this insurance cover in place, the security deposit specified in the charter agreement remains important. The exact amount is set at the time of booking and is generally between 1,000 and 3,000 euros.

Included with your charter

  • Comprehensive hull insurance for the yacht
  • Third party liability insurance with no excess
  • Charter cancellation insurance
  • Security deposit set at the time of booking

Versicherungsschutz und Kaution bei der Yachtcharter

An overview of your insurance cover

  • Comprehensive hull insurance: Covers insured damage to the chartered yacht. The excess is based on the agreed security deposit.
  • Third party liability insurance: Covers insured damage involving third parties and applies with no excess.
  • Charter cancellation insurance: Applies if, following damage, the yacht can no longer be chartered on to the next guests as planned. The excess is generally 500 to 1,500 euros.

How much is the security deposit?

The security deposit is set at the time of booking and is generally 1,000 to 3,000 euros. You will find the exact amount for your yacht in your booking documents.

Additional insurance cover

Add extra protection for your security deposit, trip cancellation and skipper related risks

In addition to the insurance package already included, further cover may be worthwhile. For these policies, we recommend our partner Yacht-Pool. Options include:

Security deposit insurance

This can reduce the financial risk associated with the deposit you provide. However, the deposit itself must still be lodged for the charter.

Trip cancellation insurance

This may be relevant if you are unable to begin your booked trip for an insured reason. The applicable policy terms and conditions will apply.

Extended skipper liability insurance

This supplements your existing insurance cover with additional skipper related protection. Scope and eligibility depend on the insurance tariff selected.

Take out insurance with Yacht-Pool

Versicherungsschutz und Kaution bei der Yachtcharter

What should you do if damage occurs during your voyage?

If damage occurs during your trip, please proceed in the following order wherever possible:

  1. Prevent further damage

    First take appropriate action to ensure that the damage does not worsen.

  2. Inform your base manager

    Report the damage as early as possible and agree the next steps with your base manager.

  3. Document the damage

    Record what happened and what damage is visible. Please also enter the incident in the logbook. In the event of grounding, the exact position is particularly important.

  4. Inform the police if required

    For damage caused by fire, explosion or theft, the applicable claims guidance also requires a police report.

  5. Agree any repairs in advance

    Please consult us regarding repairs and the further assessment of the damage. Extensive repairs should not be arranged independently.

Frequently asked questions about insurance and the security deposit

Insurance cover for your yacht charter on the Baltic Sea
Which insurance policies are already included with my Baltic Sea charter?

The insurance package includes comprehensive hull insurance for the chartered yacht, third party liability insurance for insured damage involving others, and charter cancellation insurance.

How much is the security deposit for a charter yacht?

Your security deposit is set when you book. According to the current information, it is generally between 1,000 and 3,000 euros. You will find the amount applicable to your yacht in your booking documents.

What happens to the security deposit if there is damage?

The security deposit is linked to the excess under the comprehensive hull insurance. The amount affected in a specific claim depends on the nature of the damage and the terms that apply to your charter.

Is there a special rule in the event of grounding?

Yes. If the yacht runs aground and the damage exceeds 5,000 euros, the information provided for Baltic Sea charters states that the security deposit doubles.

Do I still need to lodge the security deposit if I have deposit insurance?

Yes. Security deposit insurance does not replace the requirement to lodge the deposit with the charter operator. Its purpose is to provide additional financial protection against the risk linked to the deposit, in line with the insurer’s terms and conditions.

Which additional insurance options can I take out?

Useful additional protection may include security deposit insurance, trip cancellation insurance and extended skipper liability insurance. Scope, excesses and eligibility depend on the individual insurance product.

Where can I take out additional insurance?

First Class Sailing is preparing a new customer area, with launch planned for the end of 2026. Charter guests with a booking for 2027 are expected to be informed accordingly. Until then, First Class Sailing recommends contacting its partner Yacht-Pool directly for information about additional insurance options.

What should I do if damage occurs during my voyage?

Limit the damage as far as possible, inform First Class Sailing and document the incident, including all relevant details, in the logbook. In the event of grounding, the exact position should also be recorded. In cases of fire, explosion or theft, the available information additionally requires a police report.

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