Charter Boat Insurance
Charter boat insurance is based on having passengers on board. And the coverage is designed to get the vessel back to profitability as soon as possible in the event something happens to the boat.
Charter Coverages
There are 4 kinds of charter coverages:
- Full Time Charter- This is written on a commercial policy
- Part time Charter- This is an endorsement to a yacht policy. The number of days chartering is done is usually limited to 10 to 20 days annually.
- Six-Pack Charters- This is the same as a full time charter with only 6 passengers allowed
- Bareboat Charters- This is when a non-owner charters a vessel without a paid captain or owner on board.
Note: All vessels that carry more than 6 passengers must be certified by the Coast Guard. That’s because the Coast Guard allows only 6 guests for captained charters on non-certified vessels.
If you think you may in any type of charter situation with your boat, get the right charter coverage with a competent agent.
Steve Wyrostek -BoatInsurance.org Expert A 20 year plus veteran of the insurance industry, Steve managed departments in the personal and commercial lines areas of major insurers. He’s familiar with how insurance—ranging from boat to workers compensation—works.
