Charter Price Insurance

The recent bankruptcies of major online charter agencies, such as Germany’s Zizoo and the UK-based Myrentboat, highlight an often-overlooked risk that charter clients face when booking a yacht. Many lost their charter payments after being lured in by attractive prices, only to find themselves without a yacht or a refund when these companies collapsed. While such cases are relatively rare, when they do occur, the financial damage and frustration can be significant, with losses easily exceeding €10,000 per charter.

The reality is that financial stability is often masked by polished marketing narratives and positive customer reviews. Even companies with numerous high ratings on Google or TrustPilot can suddenly become insolvent. Furthermore, ownership changes within charter agencies and bases can be difficult for customers to detect, meaning payments may end up with an unknown investors with uncertain financial stability.

As a charter client, there are two recommended ways to make sure the charter payments are safe.

1. Look out for the Charter Confidence Seals that the yacht insurance industry has established. Based on decades of first hand experience in the charter industry, they provide solid guidance on which charter bases and fleets you can confidently trust. Yacht-Pool provides such a Seal under the name "Checked & Trusted" and we from Sealogy publish our own widely adapted "Charter-Confidence Seal".
2. Protect your Charter Payments with our Charter Price Insurance Cover.

Charter Price Insurance is essential. If a charter agency or charter base goes bankrupt, customers are typically left without a yacht and with little chance of recovering their money. Charter Price Insurance protects against these risks by reimbursing:

• The charter fee collected but not transferred or refunded due to the insolvency of the charter agency.
• The charter fee collected but not refunded due to the insolvency of the charter base.
• Additional costs for rebooking flights or securing a replacement yacht, up to €1,500 per cruise.

With Charter Price Insurance, skippers can safeguard their payments and avoid financial loss, ensuring their dream trip does not turn into a costly disappointment. Find out how much it costs below.

Charter Price Insurance can only be concluded within 21 days upon the receipt of the booking confirmation.

The compensation of the damage up to the insurance sum. Furthermore, the insurer pays additional costs for flights and higher charter costs in case of re-bookings up to max. 1.500,- EUR per cruise.

Charter trips of more than 5.000- EUR/week or 15.000 EUR/cruise require a manual review and can not be booked online.

A one-off policy issuance fee of 15,00 EUR, including the statutory insurance tax applies with all bookings.