Generali Náutico Boat Insurance Policy Conditions (English Translation)

What is covered ↑ top

The policy pays the indemnity for each guarantee you have expressly contracted in your Particular Conditions, up to the limits set there. For a recreational craft these typically are:

• Compulsory third-party liability — the cover Spanish law requires (see below).
• Voluntary third-party liability — liability above the compulsory limits.
• Damage to the boat (hull & equipment) — own-damage cover for the craft, its engine and gear.
• Personal accident for those on board, and at-sea assistance.

Because the cover is modular, your Particular Conditions are what fix exactly which guarantees, sums insured and any excess apply to your boat.

Compulsory third-party liability ↑ top

The policy is built around the compulsory liability insurance for recreational and sports craft (Royal Decree 607/1999), which is reproduced as an annex. It covers the owner's and user's liability to third parties for injury and damage caused by the craft. As required by that Regulation, it does not cover, among others: damage to the policyholder/owner/user; injury to paying passengers; injury to the skipper or to repair professionals; damage to the insured craft itself; damage while the craft is ashore, under repair or being transported; damage by a stolen craft; fines; and damage in races or competitions.

Navigation area ↑ top

Cover applies in inland waters and up to the 200-mile Exclusive Economic Zone of Spain and the EU member states, and includes the crossings between mainland Spain and the Canary Islands. Navigation must always stay within what the craft's certificate and the skipper's licence allow. Going outside the agreed navigation area automatically voids cover, unless the change was notified to and authorised by Generali in advance.

Exclusions ↑ top

The policy does not cover loss or expense arising when, among others:

• the person in charge lacks (or has an expired) navigation licence, or is under the influence of alcohol or drugs;
• the craft is chartered out without Generali being told, or is used to carry paying passengers;
• navigation is outside the agreed area, or the craft lacks the required official documentation;
• the loss is caused intentionally, or arises from contraband or prohibited trade;
• it results from war, mines, capture, seizure, political events, terrorism or sabotage, or nuclear risks;
• the craft takes part, under motor power, in races or competitions (or their trials);
• the craft is left adrift after its moorings break while moored or anchored without due care on an unprotected coast.

Certain property is always excluded — money and valuables, jewellery, art and collections; goods for sale; and jet-skis and any other motorised vehicle or craft. Asbestos-related liability is excluded.

Duration, transfer & premiums ↑ top

The policy runs for one year and renews automatically for further yearly periods; either side may decline renewal with one month's (policyholder) or two months' (insurer) notice. The premium is paid in advance; if a renewal premium is unpaid, cover is suspended after a 30-day grace period. If the boat is sold or transferred, the contract is cancelled from that moment unless Generali agrees in writing to continue cover for the new owner.

Claims & settlement ↑ top

Notify a claim within seven days of becoming aware of it; report theft or robbery to the authorities. Pass Generali any legal documents you receive, and take reasonable steps to limit the loss. Generali attends to assess the cause and the damage; if the parties cannot agree, each appoints an expert (perito), with a third expert if they disagree. The indemnity is based on the insured interest's value immediately before the loss, and the proportional (under-insurance) rule may apply.