With the hurricane season in full sail and the damage to the US gulf states and the Caribbean from hurricanes Ike and Gustav already running into billions of dollars, Yachtline Insurance of London, one of the major providers of cover for yachts throughout Caribbean region and marine underwriters at LLoyds of London, are warning that in some places, many yacht owners are finding that they are not covered having not complied with the minimum requirements for their policy or taken out the additional hurricane windstorm cover.
"We have insurance loss adjustors working round the clock,
particularly on the Islands of Grenada, Jamaica and Cuba which took some of the
worst damage from Ike and Gustav. In many places we have found damage to
vessels that could have been avoided if the proper hurricane risk management
had taken place” Yachtline are pointing out that no matter who insures you, you
should observe the requirements for hurricane yacht and boat insurance which
are contained within your policy. More about Carpenters Insurance
The Caribbean Yacht Insurance cover hurricane
affected area is defined as north of 9 degrees North and south of
35 degrees North, west of 55 degrees West and east of 100 degrees West. For
cover purposes this encompasses the region west from the Venezuela coast and
Trinidad in the South to Cape
Hatteras in the north.
The Hurricane season runs from June 1st to November 30th and all
laying up conditions and procedures must be observed during this period for the
yacht insurance to remain valid.
Monohull boats should be protected in a purpose built cradle made
of prefabricated steel. Heavy duty webbing should be applied to the cradle to
anchor it down at at least four anchor points.
All catamarans should be securely laid up ashore and anchored as
above.
Mast removal and storage on racks attracts cheaper yacht
insurance premiums and should be observed if declared. However masts removed
and properly attached to the hull is usually sufficient. All sails should be
stored preferably, and all loose articles properly lashed down.
If boat owners take the simple precautions as laid out in their
policy then the number of claims and losses disallowed will
web: https://generalliabilityinsure.com/small-business/carpenters-insurance.html
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