Insuring Grand Banks: cover and premium
motor yachts · Singapore
Grand Banks builds motor yachts in Singapore. NAMMERT insures a Grand Banks regardless of year built or where you bought it, liability, hull, legal expenses and personal accident cover from one house, taken out online in five minutes.
At a glance
Origin
Singapore
Class
motor yachts
Typical sizes
10 to 25 m
Premium from
from €49 a year for liability
Worth knowing
Grand Banks; cover, cost and conditions
Grand Banks builds trawler yachts of between 11 and 20 metres in Singapore, semi-displacement cruising yachts with a teak deck and classic lines, the reference boat for long coastal passages under engine. The boats are designed for slow speeds and long range, which lowers the hull risk and puts the cruising range at the centre: a Grand Banks really does do what it was built for.
On these yachts the teak deck is the item of value that is most often underestimated. Relaying it costs a five-figure sum on a 14-metre yacht. Wear of the teak, planks worn thin, open seams, is not covered. What is covered are damage events: hail, falling objects, fire, chemical damage from an accident. Reflect the value of the deck in the sum insured, not just the hull.
Questions and answers
Frequent questions
Is the teak deck insured as well?
For Grand Banks: For damage events yes, hail, fire, falling objects.
Wear from ageing and cleaning is not covered.
The value of the deck belongs in the sum insured, it is considerable.
The cover that fits
motor yacht insurance
Tariffs, cover and FAQ for motor yacht insurance in detail.
Third-party liability
The foundation for a boat from Grand Banks: damage to third parties, worldwide,
from €49 a year for liability.
Hull cover
Partial or full hull cover for a Grand Banks, at replacement value with an agreed fixed value.
For the whole class of boat
For Grand Banks: What matters for motor yachts is the same across every brand; engine output,
how a claim is settled, cruising range and theft protection.
The class page lists every point and every brand in this class, Grand Banks included.
Other builders in this class
Nautical information What counts before you cast off, papers, equipment, waters
Licence
A powerboat licence (inland or coastal) is required from 15 hp (11.03 kW).
Registration
Registration from 3 hp; for trips abroad carry the boat certificate or flag document.
Waters
Inland, coastal and abroad; plan fairways, bridge clearances, draught and tides.
Equipment
Lifesaving gear, fire extinguisher, anchor, signalling equipment and correct navigation lights.
Cruising range
The agreed cruising range is stated in the policy and can be extended at any time.
Weather
Check wind force in Beaufort and wind direction before casting off, and allow for gusts.
General guidance, not a complete account;
what governs are the rules of the waters you are on and the manual of your Grand Banks.
Current wind force and direction for your waters are shown on the Home.
Series by Grand Banks, with value and cover
GB 42 / 46 Classic is a motor yacht from Grand Banks (Singapore), built from 1985 to 2015,
and today changes hands at between €120,000 and €480,000.
GB 54 / 60 Skylounge is a motor yacht from Grand Banks (Singapore), built since 2015,
and today changes hands at between €900,000 and €2,600,000.
GB 32 / 36 Classic (classic) is a motor yacht from Grand Banks (Singapore),
built from 1975 to 2000,
and today changes hands at between €95,000 and €320,000.
For the GB 42 / 46 Classic by Grand Banks series the market value and the replacement cost often
differ widely.
An agreed value removes the age-based scale, and the figure in the policy stands.
As the GB 54 / 60 Skylounge by Grand Banks series is still in production,
parts are available and repair costs are predictable.
Even so, value it at replacement cost including retrofitted electronics, not at list price.
For the GB 32 / 36 Classic (classic) by Grand Banks series there is no list price left.
That is why we work with an agreed value: you state the figure, we agree it,
and in a total loss exactly that amount is paid, with no deduction for wear.
For the GB 42 / 46 Classic, GB 54 / 60 Skylounge,
GB 32 / 36 Classic (classic) by Grand Banks series:
On motor yachts the drive and the electronics together make up about half the value.
Both belong in the valuation, otherwise the sum insured is too low.
Grand Banks insured in five minutes.
Boat type, year built, length and value of your Grand Banks are all we need.
Work out the premium online or call us: +49 3375 29 12 77.
