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Asia-Pacific Boating March/April 2015 57

FEATURE

56 Asia-Pacific Boating March/April 2015

While every fi rst-time yacht owner understands

the importance of yacht insurance, the nitty-

gritty can take a toll. Industry expert Aashim

Mongia, Managing Director, West Coast

Marine Yachts Service Pvt. Ltd one of the

country’s biggest yachting solutions company,

dishes out the details on yacht insurance-

simple and straight.

Let’s start with a worst case scenario. What

happens when one doesn’t have insurance?

Th ere have been instances where in a particular

case a boat went adrift with  an OBM and

the owner had no insurance, in another case

a person died whilst working and as the yacht

was not insured the crew was not covered and

it became a messy aff air.

So we can say, insurance is required because... 

Yacht insurance is required so that you are

protected against all kinds of accidents and

natural calamities that can take place. Besides,

the damage to the yacht there is the risk of

collision liability and risk of injury to third

parties on board the vessel or while embarking

or disembarking from the boat. Wreck removal

can be very expensive and if a vessel sinks in

a shipping channel, port authorities will insist

I NTO

SAFE

HANDS

Yacht-insurance need not be an

albatross around the neck. With

right guidance, one can sail

through smoothly.

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