Italy: State increases minimum cover, owners should adjust their boat insurance

In future, they will need cover of at least 6,450,000 euros for personal injury, regardless of the number of people affected. It is recommended to increase this to ten million euros immediately, as further changes have already been announced. In future, property damage must be insured by law for at least 1,300,000 euros per claim.

It is important that the skipper remembers that proof of the policy taken out, including the amount of damage, must be carried on board, preferably in the form of the international insurance certificate, which contains the relevant evidence in several languages. The German insurance broker Yacht-Pool informed its existing customers of this change by letter. The insurance policies for owners in Italy have been adjusted accordingly, and it is also important that policyholders in Croatia or other areas planning to sail in Italy take out the increased policy. Yacht pool has therefore increased the sum insured to ten million.

Other major insurers such as the Hamburg-based insurance broker Pantaenius have already adjusted their sums insured. However, smaller insurance providers in particular may well have lower sums insured. Skippers are best advised to check the terms and conditions of their policy or consult their insurance broker.

More on the topic:

• Owners need these insurances
• Inflation and loss events drive up insurance premiums