It might seem like a very simple thing to say, but honestly, how well do you know it? Some may well not even know who has underwritten the policy, and the only contact they have is their broker.
There are many reasons you should know all you can about your cover. Chief amongst them is the value over it. Most are market price, or a like replacement vessel. Only one has an agreed fixed value and no deductions from that number in the event of total loss.
You get the number written on the front. No question. Think you have that already? Well unless your policy is already held with Pantaenius Sail and Motor Yacht Insurance, the chances are very slim. Take a moment right now to investigate and when you come back, we’ll also look at some other very important elements.
OK, back with us again, and if you are ready, you probably just found out that you might be paying a premium on a value you will never receive. Think about that for a minute, because that involves a lot of dollars that could have gone elsewhere.
Now it is always the skipper’s responsibility and duty of care to have a safe vessel. Pantaenius will ensure you know your vessel and swing mooring, should it be on one, better than ever before. That means they will need things like rig reports, surveys and mooring inspections. But the upside is that you will have a complete picture of your situation and a real, tangible and identifiable number that it all represents.
Even if it is not a total loss, you will benefit from items like capped depreciation. Should lighting fry your electronics, you will get a minimum 70% back for the gear, and 100% of the labour needed to install the replacements. No one else offers that. Say you end up on the bricks in a foreign land. You have the might of a global leader, and their set of contacts already has many local cruisers insisting they will never go anywhere without cover from Pantaenius.
So yes, take another look at the image and ask yourself if you want to be that person. Do I want to worry about all the other boats it hit on its way to self-destruction? Do I need to be involved in months or even years of wrangling with my insurer? Can I make a little time to read the plain English policy document that they will explain to me? Do I like the idea of an all-risk policy with the exclusions taking up less than one page?
Can I honestly afford not to investigate this thoroughly? No you cannot! So please get to know your boat even better, your insurer by name, and your insurance policy back to front with the crew that know boats. Go to www.pantaenius.com.au or call +61 2 9936 1670 today and see why everything from superyachts to global cruisers choose the marine originated, all-risk policy that only Pantaenius can provide you with.
(Feb-Apr2017)
