Indemnity for refundable yacht security deposit
A refundable yacht security deposit is required for all charters against the possibility of damage to the yacht, loss of equipment or late return. The amount represents the yacht insurance excess and will depend on the value of the yacht. It is paid on embarkation by credit card and returned at the end of your charter, less any necessary deductions for damage to your yacht or to other yachts.
There are 2 ways to reduce your risk:
1. For some yachts you can pay a non-refundable security insurance which will either reduce or eliminate the security deposit; or
2. Nautilus Yachting can indemnify you against any deductions from the security deposit. You pay the refundable yacht security deposit on arrival but we will immediately refund any amounts deducted from your credit card for damage or loss up to the limit of the security deposit. Please note the Indemnity will not cover deductions for your failure to return the yacht on time or for fuel used. This Indemnity must be purchased from Nautilus Yachting before you travel.
All charter yachts are fully insured under marine insurance policies against loss, damage and third party indemnity. You are expected to take all reasonable care but in the event of loss or damage to the yacht and its equipment your liability is limited to the amount of your security deposit unless such damage or loss was caused by your negligence or wilful damage. It is important that previous sailing experience is correctly shown on the Booking Form for full indemnity of any risks.
If your yacht is damaged by another vessel it is up to you to get information from those involved in the incident, including a declaration from a third party. You should report any damage done in port to the harbourmaster.