Yacht Shipping: DYT’s Voyage Insurance
Yacht shipping with DYT is now more attractive and cost effective with the introduction of our new and expanded voyage insurance program. When you book your yacht delivery service with us, you get the benefit of a complete insurance package provided by Nausch, Hogan & Murray, Inc., a well-recognized insurance brokerage firm in the marine industry.
This uniquely tailored insurance program has been carefully designed to make your yacht shipping experience safe and simple. As a result of DYT’s excellent safety record, the premiums for cargo insurance have been substantially reduced, coverage has been broadened, and the benefits of these savings and protection are being passed directly to you. DYT insures the voyage at no extra charge to you, reducing the total cost of yacht shipping and giving you the comfort and convenience of “one stop” shopping. This approach saves you time and money as DYT handles it all for you.
CARGO AND LIABILITY VOYAGE INSURANCE PROGRAM
Once a yacht owner books a trip with DYT, voyage insurance is automatically included up to the declared value of the yacht. The protection afforded by our yacht shipping program – including Liability and All Risks of Physical Loss or Damage – is active from the moment a yacht passes DYT’s stern at loading port through its unloading at the discharge port, including transshipments.
As of 2006, our voyage insurance program has been expanded to provide even broader insurance coverage to all of our yachts, including operating machinery damage during loading and unloading. In addition, our yacht shipping insurance program now also provides:
The cost of debris removal in the unlikely event of an accident that requires the removal and disposal of debris of the yacht, or any part thereof, is covered through the insurance program in addition to the physical loss to the yacht.
INSTITUTE WAR AND STRIKES CLAUSE 281:
Provides coverage for any physical loss or damage resulting from war, civil war, revolution, capture, seizure, arrest, as well as from strikers, locked-out workmen, or persons taking part in labour disturbances, riots or civil commotions.
The program now includes liability protection for all yacht owners, riders and crew, up to $10,000,000 USD.
Each voyage is insured for the total declared value up to $150,000,000 USD, an amount sufficient to ensure that all yachts on board DYT’s carriers are properly protected during the yacht shipping process.
Physical Loss or Damage: Any claim for physical loss or damage is subject to a Deductible $5,000 USD per yacht per voyage, regardless of the value declared. In many cases, the $5,000 USD deductible is considerably less than the deductible on yacht owners’ operating policies.
Liability: Any claim for coverage under the liability policy is subject to a $10,000 USD deductible.
WAIVER OF SUBROGATION:
Because all declared yachts are protected under the same insurance program, underwriters have waived subrogation against all assureds, thereby eliminating the potential of a subrogation claim against any yacht owner for physical loss or damage.
AFFORDABLE OPTIONAL PORT RISK COVERAGE:
In response to our yacht owners’ frequent requests for insurance for their yachts for short periods of time prior to or after transport, an Optional Port Risk Cover was exclusively designed for DYT customers at an additional nominal cost for values up to $10,000,000 USD. Any yacht owner interested in purchasing this port risk cover should contact Nausch, Hogan and Murray directly at +1 212 480 4200.
Security is provided by the following respectable underwriters: Fortis, St. Paul Fire & Marine, Lloyd’s Syndicates, AXA, and XL Specialty.
In the unlikely event of a yacht shipping claim, we request you to immediately report any damage to the loading master or Captain and thereafter forward the claim form to Nausch, Hogan & Murray as soon thereafter as possible, to ensure an expeditious and accurate handling of your claim.
DYT’s insurance programs for our marine transportation services have been arranged through Nausch Hogan & Murray and placed with highly reliable insurance companies in, amongst others, the United States, London and the Netherlands.
For further information on yacht shipping voyage insurance contact:
Nausch, Hogan & Murray Inc.
180 Maiden Lane 28th Fl.
New York, NY 10038
United States of America
Tel. : +1 212 480 4200
Fax.: +1 212 480 2920 or 2902
Also be sure to look at the DYT Frequently Asked Questions that cover the ins and outs of voyage insurance.