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Marine and Yacht Insurance in Spain
Insurance Companies and Brokers in
Spain
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Elite Insurance Brokers
Was established 5 years ago in their present office in Fuengirola. Our
bilingual staff will explain everything you need to know concerning your
insurance, with the certainty that you will comprehend your policy |
In recent years Spanish yacht insurance has seen some big changes due to
the huge increase during the last decade in the number of boats sailing in
Spanish waters. The consequent increase in accidents and injuries has caused
the government in Spain to introduce compulsory third party liability insurance
for pleasure boats sailing in Spanish waters.
This covers all motor yachts (including motorsailers, jet skis and jet bikes)
and all sailing yachts over 6 metres.
The minimum limit of indemnity is 336.566,78 euros or about 240,000 sterling,
although higher limits are available.
The insurance must provide cover for third party injury, material damage
and any consequential economic losses suffered.
Whilst legal requirements require only third party liability, most boat owners
take out comprehensive policies, which provide cover for the hull and machinery.
It is an offence for anybody in charge of a vessel not to have the appropriate
yacht licence and if they are not in possession of the said licence may have
the vessel confiscated or be subject to a fine.
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