CRAFTS

Insurance “Third-party liability insurance related to the ownership and usage of crafts”

Subject of the insurance:

Provides insurance protection for natural persons or legal entities against losses and/or expenses, which must be paid due to pecuniary and non-pecuniary damage caused by them, as result of usage and/or ownership of crafts.

Subject of this insurance is the third-party liability of the owners of ocean, sea, river, lake and channel crafts for pecuniary and non-pecuniary damage that would be caused by them, as owners and users of crafts.

Covered risks

• Collision or impact during movement, maneuvering or stay at anchor of the insured craft with:
  • another craft, including damages, caused to cargo and/or other property, transported by the other craft.
  • port facilities, movable and immovable anchored objects, dock, pier, buoy, floats or communication cables.
• Caused death or bodily injury to third persons, outside the craft, covered by this insurance.
• General malfunction caused or rescue, as per contract, of other craft and the property, located on it, where such a liability occurs in case of impact between the insured craft and other craft or other movable or anchored objects/facilities.
• Delay of such other damaged craft to continue its trip and the additional costs for stay, related to the delay as well as other costs, related to impossibility of the usage of such craft and the property, located on it.

Insurance sum

The liability limits cannot exceed ¼ of the actual value of the craft for a damaged object or injured individual and the full actual value of the craft in case of two or more damaged objects or persons. The agreed liability limits for one damaged object or person, as well as for two and more objects and persons, are stated in the insurance contract. The total sum of all payments as per this insurance contract, cannot exceed the limits, stated in the policy.

Insurance premium: as per the actual and enforced tariff of the insurer.

Duration of the insurance – 1 year.

Relations in case of the occurrence of insurance event

The insured person is obliged to:

• answer, in writing, to the questions of the Insurer;
• when the insurance contract is concluded, to inform the Insurer if he/she has other insurances, that cover his/her third-persons liability;
• inform the Insurer about all changes in the risk circumstances, leading to the increase of the risk for damage to third-persons;
• inform the Insurer, within seven days, from the moment of learning about the occurrence of the insured event;
• does not make confessions for guilt and liability and does not participate in agreements, without the preliminary coordination with the Insurer.

The insurer has the right to:

• terminate the insurance contract in case of non-performance of the obligations of the Insured person, by 15-days written notice, and in case of the occurrence of insured event – to refuse completely or to reduce the insurance indemnity;
• to reduce the sum of the indemnity or to completely refuse the payment of indemnity in case that the Insured person did not observe the deadline for provision of information about the occurrence of insured event;
• request a document, in order to gather evidence about the event and to evaluate the amount of damages.

Insurance “Crafts Casco”

Subject of the insurance:

Subject of the insurance are marine and river crafts, owned by natural persons or legal entities. The insurance covers: Full loss and/or partial damage of the craft, “Collision liability”, “General malfunction and rescue”.

Covered risks

• Casco – storm, shipwreck, lightning, fire, stranding, tipping over, sinking, disappearing;
• Collision liability – with options ¾ and 4/4
• General malfunction and rescue

Insurance sum. – is the actual value of the craft as to the time of the conclusion of the insurance.

Insurance premium: as per the actual and enforced tariff of the insurer. Depends on the state and the purpose of the craft, its age, the range of the insurance cover, the amount of deductible.

Duration of the insurance – 1 year.

Relations in case of the occurrence of insurance event

Insurance indemnity

In case of damage to property, the indemnity cannot exceed the real value of the damage caused.