Deposit guide
Yacht charter deposit insurance: what it pays, and what it leaves to you
Updated
Deposit insurance refunds some or all of the security deposit a charter company keeps after damage to the boat. Policies differ in one question above all: whether they pay only when your crew caused the damage, or also when the base keeps the deposit for damage you did not cause. This page sets out what each insurer publishes, what stays with you, and what evidence a claim needs.
How big the deposit is
Charter companies publish two options: a large deposit, or a daily damage waiver with a smaller deposit. Sunsail's published figures (outside Italy) show the size of the difference (Sunsail, Yacht Damage Waiver):
| Boat | Deposit without waiver | Deposit with waiver | Waiver per day |
|---|---|---|---|
| Monohull, 35 to 39 ft | $5,080 | $693 | $85 |
| Monohull, 40 to 49 ft | $6,175 | $842 | $90 |
| Catamaran, 42 to 44 ft | $8,005 | $1,091 | $140 |
| Catamaran, 45 to 49 ft | $10,505 | $1,433 | $145 |
Two conditions matter for insurance. First, the waiver does not cover negligence: if damage is caused "as a result of your negligence or reckless conduct you will be liable for the full extent of the loss suffered", in the words of both Sunsail and The Moorings (The Moorings, Yacht Damage Waiver). Second, Sunsail states that "Customers who have acquired their own YDW via a third party will be required to pay the excess amounts under Option 2 upon arrival at the base", which means the full deposit (Sunsail). Read your own contract for the equivalent terms before you buy a policy.
What each insurer says it pays
The table uses each insurer’s own published wording and figures. It is not a full list of the market, and prices change; follow the link for the current terms.
| Insurer | What it pays | Excess | Limits and conditions |
|---|---|---|---|
| Yacht-Pool | “Justified retentions of the deposit if they were caused by the skipper and/or the crew” | 5% of the deposit or the lower damage, at least €50 | Up to €10,000 (more on request); annual cover, worldwide |
| Pantaenius | “The full or partial retention of the deposit amount by the charter company for damage incurred to the chartered boat including motor and dinghy. No matter whether justified or unjustified.” | “No deductible for damages over 100 €” | Deposits of €500 to €20,000 in €500 steps; charters of 1 to 60 days; example: €191.53 for a motorboat charter with a €2,500 deposit over 7 days |
| Schomacker | The deposit the charter company keeps after damage to the yacht, including loose equipment such as fenders, winch handles, sails, lines and anchors | None | €75 for a deposit up to €500, €430 up to €5,000, €1,700 up to €20,000; one charter up to 56 days; for residents of the EU, Liechtenstein or Iceland |
| Sealogy | “The partial or full retention of your charter deposit … due to damage to the chartered yacht caused by the policyholder or their crew” | 10% of the deposit, at least €100 | Up to the agreed sum insured |
| Yachting.com | Loss of the deposit after damage “caused by the negligence of the insured skipper or crew” | BASIC: 20%, at least €100. EXTRA: 10%, at least €50 | For crew and skipper with EU citizenship |
| SamBoat | Up to €5,000 of the deposit, through Gritchen or Mutuaide | 10%, at least €200 | Excludes “aesthetic damage such as scratches, stains, dents”, wear and tear, theft or loss, and spinnaker damage |
What deposit insurance leaves to you
- Damage your crew did not cause, under most policies. Yacht-Pool, Sealogy and Yachting.com describe their cover as damage caused by the skipper or crew. Yacht-Pool defines an unjustified retention as damage "not caused by culpable action on the part of the skipper or his crew, but is due, for example, to defective construction or material fatigue" (Yacht-Pool). Its German page tells the client to clarify with the charter company why they should be liable for damage that is not their fault (Yacht-Pool, Charter-Kautionsversicherung). That conversation is between you and the base, and what you recorded at check-in is what you bring to it.
- The excess. Except on the policies with none, you pay the first part of every claim: from 5% at Yacht-Pool to 20% on Yachting.com BASIC, each with a minimum.
- Cosmetic damage, on some policies. SamBoat's cover excludes scratches, stains and dents (SamBoat). Check this line in any policy.
- Damage to other boats. Schomacker's worked example states that damage to other vessels is not covered by the deposit insurance a crew takes out; that is a matter for skipper liability insurance (Schomacker, “Chartertörn mit Schadenfall: Wer zahlt was?”).
- Residence and nationality rules. Schomacker and Yachting.com sell only to EU residents or EU citizens, as in the table above. A skipper from the US, the UK or Canada needs to check eligibility first.
- Time and paperwork. The insurer refunds after the base has kept the money and you have sent the documents listed below.
What evidence insurers ask for in a claim
Every insurer pays against documents. These are the ones each names on its public pages:
| Insurer | Documents named |
|---|---|
| Yacht-Pool, claim page | Damage photos (in low resolution), a detailed repair invoice with labour, material and VAT shown separately, a document showing how much of the deposit was kept, and your bank details |
| Yacht-Pool, policy page | A receipt from the charter company and, if necessary, a repair invoice, sent “with a damage report signed by all crew members immediately after your arrival home” |
| Pantaenius, claims service | “Charter contract, evidence of the occurrence of the damage (damage photos, police report, certificate)” and the “crew list of the charter company confirmed on site” |
| PlainSailing (an agency, not an insurer) | “If you have charter deposit insurance, be sure to get photographs of the damage, plus an itemised receipt of any damages and values, as the insurer will want to review this paperwork.” |
None of these pages asks for a check-in record. The claim file is built at check-out, from the base’s receipt and invoice. What decides whether a retention is justified, though, is the condition of the boat on the first day, and only the check-in shows that.
Before you buy a policy: five questions
- Does it pay only for damage your crew caused, or also when the base keeps the deposit for damage you did not cause?
- What is the excess, and is there a minimum?
- Does it exclude scratches, the dinghy, the outboard, the rudder, or grounding? Yacht-Pool notes that the policies many charter companies offer have exclusions such as “grounding, damage to the rudder, the dinghy, scratching and scraping damage or the outboard motor”.
- Can you buy it where you live, and does it cover the country you sail in?
- Does the charter company then ask for the full deposit, as Sunsail does when you bring a third-party waiver?
Where a check-in record fits
Insurance pays for what your crew broke. A check-in record covers the other case: the mark that was already there. Walk the boat in a fixed order, photograph every item, and have the base note what you find before you sign. The bareboat charter checklist gives the order and what to photograph.
Dockproof does that walk with you on your phone, offline. Each photo is stored with its time, its position and its SHA-256 digest, and when you close the check-in with a connection the digests are anchored on the server with its own time: a record neither party can change after the fact. At check-out the app shows each check-in photo beside the new one, and the PDF report puts damage first, ready to attach to a claim or to a reply to the base.
Do the check-in on your phone, then keep the report with your policy.
Start a check-inFree, with no sign-up. Works in airplane mode.