Insurance Information
1. Introduction
This Insurance Information document ("Document") outlines the insurance requirements and guidelines for yacht owners ("Owners") and renters ("Renters") using the Yacht Away Greece platform ("Platform"), operated by Yacht Away Greece ("Company"). Compliance with these insurance requirements is mandatory.
2. Owner Insurance Requirements
- Liability Insurance: Owners are required to maintain comprehensive liability insurance covering personal injury, property damage, and third-party claims arising from the use of the yacht. The insurance must meet or exceed the minimum coverage levels mandated by applicable maritime laws.
- Hull Insurance: Owners must also maintain hull insurance to cover physical damage to the yacht itself, including coverage for theft, vandalism, and natural disasters.
- Proof of Insurance: Owners must provide the Company with proof of valid insurance coverage prior to listing their yacht on the Platform. This includes copies of insurance certificates and policy documents.
3. Renter Insurance Requirements
- Optional Insurance: Renters are encouraged to obtain additional insurance coverage for their personal belongings and any potential liabilities not covered by the Owner's insurance policy.
- Verification: Renters should verify the extent of coverage provided by the Owner's insurance policy and consider obtaining supplementary insurance if necessary.
4. Insurance Claims Process
- Incident Reporting: In the event of an incident or accident, Owners and Renters must report the occurrence to the Company and the relevant insurance provider as soon as possible.
- Documentation: All claims must be supported by appropriate documentation, including incident reports, photographs, and any other evidence required by the insurance provider.
5. Limitations and Exclusions
- Policy Exclusions: Insurance policies may have specific exclusions, such as coverage limitations for certain activities or geographic areas. Owners and Renters are responsible for understanding these exclusions and ensuring adequate coverage.
- Company Liability: The Company is not responsible for any insurance claims, coverage disputes, or gaps in coverage. It is the responsibility of Owners and Renters to ensure they have appropriate insurance in place.
6. Amendments
The Company reserves the right to amend this Document at any time. Changes will be effective immediately upon posting on the Platform. Continued use of the Platform after changes are posted constitutes acceptance of the revised insurance requirements.
7. Governing Law
This Document shall be governed by and construed in accordance with the laws of Greece, without regard to its conflict of law principles. Any disputes arising out of or related to insurance matters shall be resolved exclusively in the courts of Greece.
8. Contact Information
For questions or concerns regarding insurance requirements, Owners and Renters may contact the Company through the contact details provided on the Platform.