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Policy conditions (owner obligations)

Boat insurance term, area: Owner duties

Obligations the policyholder must meet to keep cover intact: giving accurate information when applying, reporting a loss without delay, taking reasonable steps to limit the damage and keeping to any agreed security requirements. Some wordings draft them as warranties or conditions precedent. A breach can cost all or part of a claim, so they deserve the same attention as the cover itself.

What to check: Which conditions must be met before a claim is paid? Look for deadlines to report a loss, whether repairs need approval first, and any requirement to hold a qualification such as an RYA certificate or the ICC.

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