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Double insurance, in the boat insurance glossary
Boat insurance term, area: Contract
Double insurance means that the same risk is covered by two or more policies at the same time. The loss is still paid once. Which contract answers first usually depends on a subsidiarity clause: the insurer carrying that clause steps in only insofar as no other insurer is liable or can be called upon. Example: a skipper on a Croatian charter damages the yacht alongside, and both the charter company's liability policy and the skipper's own third-party wording appear to apply. Knowing the order avoids weeks of letters travelling between two claims departments.
What to check: Does your wording contain a subsidiarity clause, and which risks does it apply to: chartering, racing, letting the boat out? If two policies could answer the same claim, which insurer do you notify first, and does the second one have to be told as well?
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A general explanation in our own words.
What applies to you is set only by the wording of your own policy.
