When you decided to become a yacht captain, you dreamed of an adventurous life spent cruising the ocean at the helm of a mighty vessel. While that is certainly part of a captain’s life, there are also a host of other tasks you must accomplish when accepting the responsibility of a yacht captain.
One of the most important of these tasks may include choosing a yacht crew insurance plan for you and your crew. When searching for a comprehensive marine crew insurance plan that will ensure your crew are protected, consider the following:
Evaluate the Full Value of the Plan
The plan you select will play a role in determining the financial security of your owner and crew, so you need to carefully choose the coverage based on features and services provided. Do not focus solely on the cost. MHG has been providing yacht crew insurance for over 15 years and during that time, we have seen insurance plans come and go. Right now, there are some new plans out there that look like Gold, for the price of Pyrite! Remember, if it sounds too good to be true, it probably is. Please, do not buy insurance (or most anything else) based solely on lowest cost. Talk to someone who can help explain what you are really getting (or not) before something happens and you find yourself or your crew thinking something was covered that isn't.
Crew Leisure Activities May Require Extra Coverage
Yacht crews tend to be adventurous souls focused on enjoying an active lifestyle, and working on the water presents the opportunity to indulge in some very exciting activities. Some of your crew’s favorite leisure pursuits carry an increased risk, however, and some yacht crew insurance policies do not cover injuries obtained while engaging in certain activities. There are insurance plans that include additional coverage for sporting activities, such as scuba and other water and winter sports, so be sure to look for those features. A comprehensive marine crew insurance plan that includes coverage for crew leisure activities will decrease liability exposure and protect both owner and crew.
Comprehensive Emergency Services Must Be Included
When a member of your crew suffers a serious injury or illness there are a number of issues that must be resolved quickly. If your crew member is unable to travel with your vessel or continue working onboard, you may be required to provide a flight home for that crewmember. You may want this feature included in the marine crew insurance plan you choose, along with adequate provisions for emergency medical evacuation and repatriation of remains.
Tailor Your Coverage to Your Crew
When choosing a marine crew insurance policy, the best way to balance costs and benefits is to consider the specific composition of your crew and the coverage desired. For example, if you don’t have any North American crew and do not plan to sail in North America, you can save premium by purchasing a policy that does not include coverage there. Does your crew consist of several members who have been long term crew for this particular yacht owner? Perhaps you should consider tailoring a plan to provide additional benefits for your crew above and beyond the standard policy.
The experienced Insurance Specialists at MHG Insurance are ready to help you with all the details of yacht crew insurance: what every captain needs to know, what coverage every crew member should have, and which carrier is best for your particular situation. MHG Insurance offers a wide range of yacht crew insurance plans and international medical insurance for expatriates, with customizable coverage for all nationalities and itineraries.
Call MHG Insurance today at +1 954 828 1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com to find the yacht crew health insurance plan that meets your requirements.