A-1.1 General watercraft liability, Watercraft Liability Insurance, Premium

Insured, within the scope of the following provisions, is your legal liability arising from keeping, owning and using watercraft serving sporting and recreational purposes which 1 are in principle used exclusively for private purposes, 2 are used for occasional hiring out, that is, for no more than 30 days in the insurance year without professional crew, and 3 where an obligation to register exists, are entered in a German maritime or inland waterway register. (The German original gives this paragraph no number of its own;

A-1.1.2 refers to it as A-1.1.1.) A-1.1.2 Where applied for and separately documented in the policy schedule, cover also applies, by way of derogation from A-1.1.1 (2), in the case that the watercraft is hired out for more than 30 days in the insurance year, or is also hired out commercially for private purposes. The condition is that the handover is based on a tenancy relationship under sections 535 et seq. of the German Civil Code (BGB). The insurer pays on a subsidiary basis, that is, in the event of a claim the insurer steps in only if and so far as no other insurer is obliged to pay compensation or can be called upon. Cover exists within the scope of the insured risk named above for the case that a third party brings a claim for damages against you on the basis of statutory liability provisions of a private law nature, because of a loss event occurring while the insurance is in force (the insured event) which resulted in personal injury, property damage or financial loss arising from either. The loss event is the event as a direct consequence of which the harm to the third party arose. There is no cover for claims, even where they are statutory claims, 1 for performance of contracts, subsequent performance, for self-remedy, rescission, reduction of price, or for damages in lieu of performance; 2 for losses caused in order to be able to carry out subsequent performance; 3 for loss of use of the contractual object, or for the failure of the result owed under the contract to materialise; 4 for reimbursement of wasted expenditure in reliance on proper performance of the contract; 5 for compensation of financial loss because of delay in performance; 6 for other compensation payments taking the place of performance. German law applies to the contract. The German wording of the conditions alone is binding; this translation is provided for understanding only. Notwithstanding the other provisions of the contract, cover exists only so far as and for as long as no economic, trade or financial sanctions or embargoes of the European Union or the Federal Republic of Germany directly applicable to the contracting parties stand in the way. This also applies to economic, trade or financial sanctions or embargoes issued by the United States of America with regard to other states, so far as European or German legal provisions do not stand in the way.