As a service to our clients we provide an analysis of policies we obtain from multiple carries from the major insurance markets. Seaportal Ltd. is not in the insurance business and derives no benefit from placing insurance for our clients.
Insurance is perhaps one of the more complicated aspects of yacht management. Insurance companies seem to go out of their way to make the process confusing. Comparing apples to apples is made more difficult by the fundamentally different approaches insurance companies use to write policies. Some use what is referred to as "Stated Risk Policies", meaning each covered risk is stated in the policy. If its not stated, its probably not covered. Knowing what to ask for is therefore important.
Other insurance companies use the "All Risk" approach. Here, everything is covered except what is excluded. There tends to be a lot of fine print in the exclusion part that needs to read carefully.
