Italian Insurance Requirements

[Zoid]

I am cruising in the Balearics right now and was about to sail over to Sardinia when my insurance company started bringing things up about Italian insurance requirements. On Noonsite if you search for "Timely Reminder about Italian Insurance Requirements" you will find a post about a requirement to have This cannot be right. My insurance broker is claiming that is old from 2012 and it has been raised so that they now require a combination of limits which means I need to carry around USD$8mill in insurance.

Please tell me this isn't the case, it can't be. Does anyone know what is required?

[goboatingnow]

Third party with a minimum liability of €5 million is required for all powered vessels
Dave

[Zoid]

That is what I seem to be finding.
I guess that is that. Time to swallow that painful pill...

[goboatingnow]

Originally Posted by Zoid

That is what I seem to be finding.
I guess that is that. Time to swallow that painful pill...

Painful. Hmm. Mine was raised without any significant cost

[Dockhead]

Indeed. Insurance for yachts in Europe is incredibly cheap, in my opinion.

I have always had that much liability coverage, plus half million pounds coverage of the boat, plus contents, tender, etc, etc., legal assistance, etc. -- all for less than 1000 pounds a year. In my opinion, an unbelievable bargain. And no mandatory survey, no limits on distance offshore, no restrictions on single-handing, and this year they extended my cruising area to the end of the Baltic -- for free.

I paid more than that in the U.S. for a boat worth 1/10 as much, with liability of only 1 million USD, and all kinds of restrictions.

[chuckr]

you did not say who your insurance company is or where you are from -- we are a usa boat currently sailing italy and we have the jackline policy from imis -- no issues

as for coverage we 1/2 million usd and never been questioned on it

good luck

[beneteau-500]

Go boating is totally correct on the amount of min liability req .

But here is a warning to all boaters entering Italian waters , in the past week alone boaters have been fined €300 euros for not having mooring ball up whilst at anchor the latest to be hit where 6 boats at Ponza Sardinia .by the costa carbonaria also boaters have also been fined for safety issues as we'll .

Now here is the catch if caught you must pay fine at post office but post office can't accept payment if you don't have a Italian social Number/ tax number , Now the only way to do this and get around it is to find a Italian person who is willing to let there identity to be used to pay fine

[Zoid]

I am a US boat and also went through imis, but have a Pantaeius policy. Compared to other Europeans my premiums seem outrageous. I've only just gotten to Italy but so far no one has even asked for my insurance. We'll see as I progress.

I'm in Sardinia and as we get further into high season maybe they get more strict about it.

[robert sailor]

OK so where is Ponza, Sardinia???? FYI Italian fishermen do not need to and seldom carry liability insurance, marina or no marina,

[chuckr]

Originally Posted by Zoid

I am a US boat and also went through imis, but have a Pantaeius policy. Compared to other Europeans my premiums seem outrageous. I've only just gotten to Italy but so far no one has even asked for my insurance. We'll see as I progress.

I'm in Sardinia and as we get further into high season maybe they get more strict about it.

Zod -- we have been asked twice and have been in the eu about 60 days - we did sardinia, corsica and from rome down to now messia straits and will head toward albania tomorrow - interesting to see what happens there

[bobnlesley]

It works both ways: As a European boat we crossed the Atlantic Ocean and paid a hefty premium hike and were loaded with a huge excess/deductible for the crossing, which seemed fair enough. However that same high premium/deductible continued even within the Caribbean and we realised we were paying far more/higher deductible/more restrictions than the US and particularly Canadian boats to be there. It seems North American Insurers perceive the Mediterranean as 'high risk', whereas European Insurers think the Caribbean is more dangerous? Given that in either instance, there's a high probability that the boat, skipper and crew have already made it safely across the Atlantic, then you'd think the Insurers might have a little more faith in their capabilities?

We actually looked into taking out a policy with a North American Insurer, but gave up to the idea on two counts: We couldn't have cover for Cuba and we were concerned at the third-party indemnity levels; I would reckon that €2-3 million is the least a European policy would include as 'standard', I know ours is £5 million; yet when we looked at the US/Canadian policies offered, they were providing either $1/4 million or $1/2 million as the norm. We're always being told how litigious society is in the USA and thought you could very easily/quickly find yourself facing a claim way over that?