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Legal expenses insurance
Boat insurance term, area: Contract
Legal expenses insurance for boat owners pays for the dispute, not the sum in dispute: lawyer's fees, court fees, expert witnesses and interpreters. A policy of this kind never applies to every conflict, only to the areas of law it lists, such as claims for damages, criminal and regulatory proceedings, administrative matters, contract law or a berth agreement. Example: another boat hits your transom while you are leaving harbour, the other side denies the sequence of events and the yard's invoice stays half paid. Whoever sues then has to advance the costs of the proceedings.
What to check: Which areas of law does your policy actually list, and is the dispute you are likely to have included, over a purchase, a repair or a berth? And where does the cover apply: within Europe and the Mediterranean only, or beyond, and up to what amount and for how long a stay?
More terms
A general explanation in our own words.
What applies to you is set only by the wording of your own policy.
