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B-3.2 Default and damages, Watercraft Liability Insurance, Basis
From Watercraft Liability Insurance, Basis, AVB WSH Basis (1-2025nam). German law applies to the contract and the German wording alone is binding. This English text is a courtesy so that you can read what you are buying. It is not a contract document. Where the English and the German text differ, the German text decides: read this clause in German.
If a subsequent premium is not paid on time, you fall into default without a reminder. This applies only if you are responsible for the late payment. If you are in default with the payment of a subsequent premium, the insurer is entitled to demand compensation for the loss caused by the default.
You have just read what the wording says. The premium for your own boat is one page away, with a price and without a form.