Marine Insurance in St. Maarten

Types of Marine Insurance

Marine cover is not one policy but several, depending on what is being insured:

• Yacht and pleasure craft: for private sailboats, motor yachts and smaller boats.
• Commercial vessels: charter boats, ferries, fishing boats and work boats.
• Marine cargo: goods shipped by sea or air, including imports into the island.
• Marine trade: boat yards, chandlers, marinas and repair businesses.
• Marine liability: third-party injury and property damage from vessel operation.

What Yacht and Boat Policies May Cover

Depending on the insurer and policy wording, a yacht or boat policy may include:

• Hull and machinery: accidental damage to the vessel, engines and equipment.
• Third-party liability: injury to others and damage to other boats or docks.
• Salvage and wreck removal: costs of recovering or removing a sunken vessel.
• Personal effects and tender: belongings on board and the dinghy.
• Medical payments: for crew and guests.
• Racing and charter extensions: where agreed with the insurer.

Hurricane Season and Cruising Areas

Insurers often take named-storm risk in the Caribbean into account. Policies may carry named-storm conditions, such as restrictions on where the vessel may be located during hurricane season, mooring or haul-out requirements and higher deductibles. Atlantic hurricane season runs from 1 June to 30 November, and Hurricane Irma in September 2017 caused widespread damage on the island, so these terms are worth reading before the season starts. Cruising ranges also vary between policies. It may be worth reading the warranties and conditions carefully, and an advisor can explain them before you decide.

Marine Cargo

Goods arriving by sea can be damaged, lost or delayed. Cargo insurance may cover physical loss or damage in transit, depending on the policy, and in an island economy that depends on imports, some businesses that bring in stock, building materials, vehicles or equipment look at it as part of their arrangements. Terms vary from named-peril cover to broader all-risks cover.

Information an Insurer May Ask For

• Vessel type, age, length, build and value
• Where it is kept and where it will sail
• Owner’s or captain’s experience
• Survey or valuation reports, if available
• For cargo: goods, shipping route, value and frequency

Marine Insurance in Sint Maarten and Saint Martin

Boats are kept in the marinas around Simpson Bay Lagoon and elsewhere around the island, and trips often go beyond it to Anguilla, Saint-Barthélemy (St. Barths), Saba and Sint Eustatius (Statia). The cruising range named in the policy and the insurer’s expectations between 1 June and 30 November are therefore worth checking. Passenger and tour boats operating from the lagoon or near the cruise port at Great Bay in Philipsburg are commercial uses, which insurers may treat differently from private use. Importers of stock, building materials or vehicles may look at cargo cover for sea shipments to the island. It is also worth checking the currency of the sum insured and premium: US dollars are widely used locally, but a policy may be written in another currency. An advisor can go through these points before you compare quotes.

Related Cover

Other Policies to Consider

Marina and boat-yard operators may look at public liability and property insurance. Charter staff may be relevant to workers’ compensation. Visiting sailors might consider travel insurance.

Named-storm conditions are also covered in hurricane insurance in St. Maarten.

Contact Us

You can speak with an advisor about your vessel or shipments, how quotes from insurers can be compared and what the conditions mean. Which insurers can quote depends on the risk. Request a call back or call +1 721 542 5078.