Agreed value, not market value

Four things set the hull premium. The sum insured, because it is the value we rate and settle on (A-8). The tier: partial cover in Basis, full cover from Basis Plus. The excess of 500 or 1,000 euros, which is halved for the first claim after five claim-free years (A-4.4). And the term: a seasonal policy costs less but gives no cover at all from 1 November to 31 March, winter storage included. Basis Plus and Premium start with a 40 per cent no-claims discount; it drops by 20 per cent after a claim and rises by 10 per cent a claim-free year, to 40 per cent at most (Basis Plus A-16, Premium A-17).

Read the clause: Hull Basis Plus A-16, Hull Premium A-17 (German), Hull Basis Plus A-4, Hull Basis Plus A-8

Fitted electronics and nautical equipment such as navigation, night vision and handheld radio sets are part of the insured boat, as are masts, sails and inventory (hull A-1.1). The outboard, tender, trailer and watersports gear are covered when they are listed with their own sum (A-1.3). From Basis Plus they stay covered while kept away from the boat in a locked room or building (A-1.4). An outboard must be fixed with a security bolt or similar lock, or kept in a locked building (Basis Plus A-6.7). A named trailer is included in Basis Plus and Premium liability at no extra premium; hull cover for it costs extra.

Read the clause: Hull Basis Plus A-1, Hull Basis Plus A-6, Liability Basis Plus A-1.4 (German)

From Basis Plus, yes: running aground and collision with fixed or floating objects, debris included, are accidents to the vessel (hull A-3.1.1); Basis does not cover them. After a grounding you report to us, we pay for an inspection even with no visible damage, up to 500 euros in Basis Plus and without that limit in Premium, in both cases without an excess (A-3.2, A-4.2). What counts as proof: report in writing without delay (B-3.2.1), allow an inspection before repairs (B-3.2.4) and answer every question in full (B-3.2.3). Position, time, photos of the underwater hull, the plotter track and witnesses all help.

Read the clause: Hull Basis Plus A-3, Hull Basis Plus A-4, Hull Basis Plus B-3, Hull Premium A-3 (German)

Masts, booms, standing and running rigging and sails are part of the insured boat (hull A-1.1), so no separate rig cover is needed. What matters is the sum insured: it has to reflect the value including rig and sails, and a new rig should be reported so the sum keeps up (A-8). A broken or buckled mast, spar or boom and a torn sail are insured accidents from Basis Plus (A-3.1.1). Partial losses are paid without a new-for-old deduction unless age deductions appear in the schedule (Basis Plus A-9.4). Wear and poor maintenance are excluded (A-6.2 d, f), so keep the rigger's invoices.

Read the clause: Hull Basis Plus A-1, Hull Basis Plus A-3, Hull Basis Plus A-9

An all risks policy covers any loss the wording does not expressly exclude, and the insurer has to show that an exclusion applies before refusing. The alternative is named perils: only the events listed are covered. Our current hull terms follow the named perils model. Clause A-3.1 lists accident, natural perils, fire and explosion, and theft and malicious damage; in Basis it lists natural perils, fire, explosion and theft of the whole boat. When comparing, read how long the list is and what the exclusions say (A-6), not the label on the policy.

Read the clause: Hull Basis A-3, Hull Basis Plus A-3, Hull Basis Plus A-6

For the premium: type of boat, builder and model, year, length, engine, the sum you want to insure, mooring and cruising area, and your country of residence or the flag, since we can insure owners living in Germany, Austria or Spain and boats under those flags. For the sum, the terms name purchase invoices or a survey as proof (A-8). Tender, outboard or trailer go in with their own sums (A-1.3). The proposal also asks in writing about previous losses and other material facts, and those answers must be complete and correct (B-3.1.1).

Read the clause: Hull Basis Plus A-1, Hull Basis Plus A-8, Hull Basis Plus B-3

Yes. Our hull terms set no age limit for the boat; what changes with age is the settlement. Premium pays the agreed value in a total loss regardless of age (A-8, A-9.1). Basis Plus pays the agreed value for five years and after that while the current value still reaches half the sum, in both cases once replacement is shown, and otherwise the current value (A-9.1 to A-9.3). Basis pays the current value, with age deductions on partial losses. Machinery cover is available only for engines up to ten years old (A-14). For older boats we ask about condition and maintenance, because neglected maintenance is excluded (A-6.2 f).

Read the clause: Hull Basis A-7, Hull Basis Plus A-9, Hull Premium A-9 (German), Hull Basis Plus A-14

Basis covers theft of the whole boat; from Basis Plus burglary, theft of parts and vandalism are covered too (A-3.1.4). The terms set specific locks: the outboard with a security bolt or in a locked building, the trailer with a chain or steel cable and lock against uncoupling and, when parked, a hitch lock or wheel clamp, and a trailered boat chained or locked to the trailer (Basis Plus A-6.6 to A-6.8). Ashore, in Basis and Basis Plus, the boat must be in a fenced, locked yard or a locked building (A-6.5). Loose items have to be packed and lashed or kept in the locked boat (A-6.2 m). In Basis Plus no excess applies to theft; in Premium none applies if the boat was in a locked room or on fenced premises (Premium A-6.8). A GPS tracker is not a condition, but it helps recovery. Report the theft to the police at once (B-3.2.1).

Read the clause: Hull Basis Plus A-3, Hull Basis Plus A-6, Hull Basis Plus A-4, Hull Premium A-6 (German)

The dismasting itself is an insured accident from Basis Plus (hull A-3.1.1), not in Basis. If fatigue, that is wear or a material defect, is the cause, the terms draw a line: the fatigued part that broke, such as a shroud, terminal or chainplate, is not replaced; the mast, boom, sails, deck and electronics damaged as a direct result are (A-6.2 d). There is no cover where the cause is poor maintenance or overdue servicing (A-6.2 f). Have the standing rigging checked regularly and keep the invoices.

Read the clause: Hull Basis Plus A-3, Hull Basis Plus A-6

Yes, cover does not stop at the waterline. It continues while the boat is ashore, hauled out or launched, in a yard for repair, provided the place is suitable for boats, and in transit on suitable transport (hull A-2.1.2 and A-2.1.3). Whether a loss is paid depends on the tariff: if the boat slips out of the crane sling, falls off the trailer or bumps a pontoon while berthing, that is an accident, and accidents are covered from Basis Plus (A-3.1.1). Basis pays ashore and in harbour for storm, fire, lightning and theft of the whole boat. Damage caused by improper loading or lashing in transit is excluded (A-6.2 l). Crane costs caused by the loss are reimbursed (A-9.8). If the yard or crane operator caused the damage, pass us the paperwork so we can claim against them (B-3.2.5).

Read the clause: Hull Basis Plus A-2, Hull Basis Plus A-3, Hull Basis Plus A-6, Hull Basis Plus A-9, Hull Premium B-3 (German)

That depends on the tariff. Premium covers races of every kind (hull Premium A-6.3 a). Basis Plus covers club races only; other regattas are excluded there (Basis Plus A-6.3 c). What typically goes wrong on a race course is an accident: contact at the mark, a broken mast, a torn sail (A-3.1.1). Basis does not cover accidents, so it is the wrong choice for anyone who races. Powerboat races and the practice runs for them are covered only if agreed in the policy, and the driver then needs a valid licence (A-6.3, A-15). If you sail open regattas, choose Premium.

Read the clause: Hull Basis Plus A-6, Hull Premium A-6 (German), Hull Basis Plus A-3, Hull Premium A-15 (German)

Yes, the boat may stay in the water over winter. Cover applies on all waters within the agreed cruising area, winter berth included (hull A-2.1.1), and the terms do not require the boat to be laid up ashore. Ice, frost, snow and rain on their own are excluded, however, unless they result from a storm (A-6.2 i). An engine block or cooling hose split by frost is therefore not covered. Storm, fire, lightning and theft of the whole boat stay covered in winter, and from Basis Plus also accidents, break-ins and vandalism (A-3.1). Winterise the engine, pipework and heads, and have someone check the boat regularly.

Read the clause: Hull Basis Plus A-2, Hull Basis Plus A-6, Hull Basis Plus A-3