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A private yacht charter offers a personalized experience on the water. You can choose how and where you travel, as well as your menu, activities and guest list.
Most charter companies have top-notch professionals who can guide you through the planning process of your sailing adventure to ensure you have a safe and enjoyable sailing experience.
If you are planning a cruise charter trip, travel insurance is important to consider. Comprehensive travel insurance plans combine multiple types of coverage to protect your travel investment, health, and assets.
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What type of travel insurance coverage should you buy for a yacht charter?
We asked travel insurance experts what types of coverage to buy to ensure smooth sailing on your next cruise.
Trip cancellation insurance
Chartering a boat is expensive, and you should plan your trip accordingly.
“Boat charters often require a large deposit up front, so individuals considering a boat charter should consider trip cancellation insurance for the trip and medical insurance for all passengers on the trip,” said GeoBlue Travel Insurance spokesperson Don Van Syock.
“With changing travel restrictions and guidelines in the current environment, a trip cancellation plan can be used to protect non-refundable deposits and other costs associated with the charter,” says Van Syock.
Common travel insurance policies list a number of reasons why you can make a trip cancellation insurance claim to cover prepaid and non-refundable travel expenses if you need to cancel your trip. Check your policy for details.
Acceptable grounds for cancellation vary by company, but usually include:
- Illness or injury by you, a travel companion or a close family member
- Death in the immediate family
- The death of your travel companion
- Your travel provider is out of business.
- Military orders
- severe weather
- Sudden job loss
- Public uprising
- A serious family emergency
Therefore, if you displace your energy a week before your sea adventure and are unable to travel, you can request a refund of prepaid and non-refundable travel expenses.
“Cancel for any reason” coverage
Not all reasons for cancellation are covered by a standard travel insurance policy. For example, if you read online reviews of the charter company that the catering is inedible and the staterooms are dirty, these are not covered reasons for canceling your trip.
If you want a higher level of flexibility for cancellations, consider adding “cancel for any reason” coverage to your travel insurance plan. This upgrade increases your policy cost by about 50% but gives you the freedom to cancel your trip for any reason, including panic or a big fight with your partner.
To file a “cancellation for any reason” insurance claim, you must cancel your trip at least 48 hours before your scheduled trip. Reimbursement varies by policy but is usually 50% or 75% of your trip costs.
Travel medical insurance
It’s important if you’re planning a cruise charter to check the travel medical insurance requirements for all the places you’ll be visiting.
“Some places like Aruba require every visitor to purchase local Covid health insurance, even if they’re only staying for one night,” Van Syok told Geoblu.
In this case, Aruba Visitors Insurance is a Covid-only health plan that only provides benefits for medical expenses related to a positive Covid test. “Other medical expenses are not covered,” warns van Syok.
Although there is mandatory insurance for visiting a specific destination, Van Syok says that every individual traveling on the charter should have travel medical insurance, so purchasing a solid travel insurance policy is essential.
“Travel medical plans often have higher medical limits,” he points out.
The most generous travel insurance plans offer up to $500,000 per person for emergency medical expenses. They can also give $1 million for emergency treatment.
Emergency medical evacuation
It is important to have a good exit strategy in this outbreak environment where some ports may be closed to private owners unexpectedly.
“Medical discharge benefits are especially important for passengers on chartered yachts,” Van Syock said.
To that end, he says, “travelers should read the fine print of any plan they’re considering, as some plans determine coverage based on the location of the ship.”
Lisa Conway, CEO of Battleface Travel Insurance Company, points out that cruise charters spend a lot of time away from land. Boats travel in open water where medical facilities cannot be quickly reached in an emergency. This makes emergency medical evacuation coverage especially important.
“Due to the nature of cruise vacations, I recommend purchasing at least $100,000 in medical discharge benefits as well as coverage such as trip cancellation, trip delay and trip medical,” Conway said.
Benefits of telehealth
An important travel insurance benefit for Van Syoc yacht charterers to consider is access to telemedicine consultations with physicians. Many travel insurance companies, including GeoBlue, offer mobile services to policyholders, including medical guidance and non-emergency consultations.
“If you’re on a boat, it can take hours or even days of travel to see a doctor,” Van Syok said. “With telemedicine, a covered individual can receive care without any disruption to their journey.”
Water activities and sports improvement
Another option to consider when purchasing travel insurance for a boat charter is the addition of sports and adventure upgrades for activities. This can cover activities such as scuba diving, a popular activity on yacht charters.
World Nomad’s travel insurance plans cover nearly 200 adventure and extreme sports activities, but not all other companies’ plans do.
Check the restrictions in your plan for dangerous or adventurous activities. For example, Van Syock said some insurance companies will only pay scuba incident claims if the insured dives under PADI or NAUI or supervision. Certified teacher.
Other plans may include underwater depth limits for their coverage, he said. “For example, some plans only cover divers up to 10 meters,” van Syok. Be sure to check with your insurance company to make sure you are covered for the activities you plan to enjoy during your yacht charter experience.
If not, see what sports and adventure upgrades are available for purchase. AIG Travel Insurance, for example, offers an upgrade to its Travel Guard Deluxe plan that covers extreme activities that are excluded from its standard policy.
What does travel insurance not cover?
Conway with Battleface notes that government regulation or bans are not covered by travel insurance. Therefore, you are not eligible to make a travel insurance claim for reimbursement of expenses if you are denied entry to a port based on current entry rules and restrictions.
Also, if you get drunk and slip because of your illness, you will not be covered. Most travel insurance policies have exclusions in policy language that do not cover traveler negligence due to excessive alcohol or illegal drug use.
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Do Yacht Charter Companies Provide Travel Insurance?
You may be able to purchase travel insurance directly from your yacht charter company. Mitja Mirtic, CEO of Goolets, a private charter expert company in Slovenia, says such plans have many variations and are very suitable.
“Our portfolio includes short-term and long-term international medical insurance plans that can cover citizens of any country when they leave their borders,” says Mirtichi.
Travel insurance costs depend on the following factors:
- Charter size
- Number of guests
- Purchased updates to the manual
Goolets, for example, offers travel insurance plans from International Medical Group (IMG). You can purchase a standard Travel Lite plan, a Travel SE plan with additional benefits such as coverage for missed connections, or a Travel LX plan that offers more extensive coverage.
Travel LX offers optional upgrades such as “cancellation for any reason” cover and “termination for any reason”.
According to Mirtich, the Travel LX plan costs $35,000 for a nine-person yacht charter trip with “cancel for any reason” coverage, which will cost you about 11% of your total trip.
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