Insuring your RIB boat: Complete guide
Navigating crystal-clear waters with your RIB boat offers an unrivalled experience, but this adventure requires more than just sailing skills. The peace of mind you seek also requires adequate protection!
That's where boat insurance comes in. In this article, Orca Retail aims to answer your questions about the world of RIB insurance, exploring obligations, costs, types of insurance available, and more!
Is boat insurance compulsory for RIB boats?
For individuals
Yacht, motorboat or RIB boat, you are under no obligation to insure your pleasure boat. Even so, it's a good idea to take out insurance for your RIB, to make sure you're covered in the event of an accident. Grounded, shipwrecked, hit by a rock, storm - sailing at sea is not without risk when you take your RIB out for a spin.
For professionals
If you use your boat professionally, you must take out boat insurance, unlike pleasure boaters. As a minimum, you must be covered by professional indemnity insurance. You are covered for all bodily injury and property damage caused to a third party.
The same applies if you're a sport sailor. For competitions, you must be covered for third-party liability. In the event of damage to an opponent's boat, for example, your insurance will cover the cost of repairs. You also need a certificate of civil liability insurance to operate a RIB in port.
What does RIB boat insurance cost?
As a general rule, the cost of an insurance premium is generally estimated at around 1% of the boat's value.
On average, the price of insurance for a RIB is around €100 a year with the minimum guarantees. For comprehensive insurance, prices rise to €400/year.
However, several factors can influence the price of your contract. In fact, the amount of the insurance premium depends on specific criteria, including:
- The age of your boat
- His market value
- His dimensions
- The number of warranties selected
- The power of the motor
- Your marine accident history
What types of boat insurance are available?
If you want to insure your RIB craft for your sea and river outings, there are three types of coverage: third-party insurance, comprehensive insurance, term insurance.
- Liability insurance covers you for damage (material or bodily) caused to a third party.
- All-risk yacht insurance covers total loss of the RIB, material damage on it, but also bodily accidents on board in addition to damage caused to a third party.
- Temporary insurance guarantees a boat for a short period, for example if you rent a zodiac for the day.
What's the best insurance for a RIB?
Difficult to determine the best boat insurance for your inflatable. Coverage depends on your needs (boat hire, sports activities, etc.). Do you prefer minimum cover? Good coverage for your sea outings? Coverage for your passengers? For some, the best insurance is the cheapest. For others, it will be the one offering the best coverage in the event of a claim.
Insurance comparison for RIB boats:
- MAAF: Civil liability, Individual marine, Personal assistance, Boat assistance, Legal assistance.
- ALLIANZ: Civil liability, Land damage and loss for the boat, Total or partial theft (including accessories), Damage and theft of the trailer, Assistance and rescue costs at sea, Individual marine in the event of death, temporary or permanent disability of the pilot and passengers.
- Groupama: Civil liability, Defense and recourse, Assistance for boat and people on board.
- MAIF: Compensation following a climatic event if your boat is less than 5 years old and your engine less than 3 years old, Damage to the boat and its equipment following a climatic event, Loan of your boat, Assistance for your boat and your passengers, Legal information on the Internet, Defense recourse.
- MMA: Civil liability, Crew protection, Criminal legal defense and recourse, Sea search expenses, Individual marine (medical expenses, permanent disability, death), Retirement expenses.
- MACIF: Civil liability, Criminal defense and recourse, Legal protection, General assistance, Dockside assistance.
What guarantees for a RIB boat?
Like any watercraft, coverages for RIB boat insurance are varied. The following is a non-exhaustive list of coverages offered by insurers as part of a comprehensive policy.
Guarantees covering the boat
- Hull insurance for repairs to damage sustained during navigation.
- The total or partial theft guarantee.
- Loss and damage coverage.
- The hidden defects warranty if the boat has any anomalies.
- The coverage of assistance and towing costs at sea.
- The assumption of costs for retubeing or wreck removal.
Guarantees covering equipment
- The engine theft warranty.
- Theft coverage for passengers' personal belongings.
- Theft or damage to navigation and safety equipment.
Guarantees for people on board
- The assumption of medical expenses due to an accident.
- Repatriation cover for injured persons.
- Sea search and rescue costs.
- Payment of a lump sum in the event of death, disability or total or partial incapacity.
Additional warranties
- Legal protection for criminal defense and recourse following a claim.
FAQ on RIB boat insurance
Is a boating license required for a RIB
Operating a boat with an engine rated at more than 4.5 kW requires a boating license. For more information on the subject, please refer to our article "What boating license to get for RIBs?".
What insurance for a RIB boat rental?
If you rent an inflatable boat, you have several options for insuring it, you can take out the insurance proposed by the rental company or take out a temporary insurance contract.
How to insure your boat online
More and more insurance companies are offering online boat insurance. To do this, you'll need to fill in the administrative details and answer a few questions about the boat you wish to insure. You'll also need the carte de circulation of your inflatable boat or the acte de francisation, the signed bill of sale, your boating license, and a RIB for deduction of dues.
What to do in the event of a claim with my RIB boat
In the event of a claim, it's essential to act quickly to guarantee optimum coverage by your RIB boat insurance. Here are the steps to follow:
- Contact your insurance: Immediately inform your insurance company of the loss and help them assess responsibility if a third party is involved.
- Make a detailed declaration: When making your declaration, be sure to include the following information: Place of loss, date of incident, type of loss (accident, theft, vandalism, weather damage, etc.), etc.), and a detailed description of the damage.
- Enclose the necessary supporting documents: Such as purchase and repair invoices, photos of damage, medical certificate in case of injury, etc.
In the event of theft, also file a complaint with the appropriate authorities and provide your insurer with the complaint.
Conclusion
Insuring your RIB boat is not just a formality, but a crucial guarantee for serene cruising. Whether you're an avid boater or a professional sailor, understanding the nuances of boat insurance is essential to protecting your investment and ensuring the safety of you and your passengers. Carefree sailing starts with judicious foresight!
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