YACHT INSURANCE

Breedpad 21NL-8442 AA Heerenveen

PO Box 116NL-8440 AC Heerenveen

T +31 513 61 44 44 F +31 513 62 37 42E info@kuiperverzekeringen.nl I www.kuiperverzekeringen.nl

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Tailor-made insurances

YACHT INSURANCE

STEER A SAFE COURSE

STEER A SAFE COURSEThe right insurance

You cannot enjoy the carefree use of your vessel until you have insured it properly. Because we have more than 60 years of experience in insuring yachts, we are specialists in this fi eld. We know the risks associated with your hobby, and ours by the way, better than anybody else.

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YACHT INSURANCE

Managing director Jaap Kuiper in his ‘Fries Jacht’

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Bad insurance policies have not been around for a long time. The competition is too fi erce for that, and the control by various authorities is very stringent. Nevertheless, some differences can be found here and there. However, the differences are only in what we call the ‘fringe cover’. In popular parlance: bells and whistles (sales incentives), which you will rarely need in practice.

We have chosen for a sound, no-nonsense policy in clear language that will appeal to the true-blue water sport enthusiast. Broadly speaking, you can put together your own policy, geared to your needs. We are happy to assist of course, because making the right choices is not always easy.

When choosing insurance, we are sometimes inclined to pay more attention to the premium than the contents of the policy document. Of course, the premium that has to be paid is not unimportant. However, what is more important is what you get in return. We are not just referring to the cover under the policy. Specifi c water sport expertise on the part of your insurance agency and above all, the quality of claims settlement should be the deciding factors! We cannot, and do not want to be, the cheapest. Our strength lies in the added value of being a specialist. There is no reason why this should not cost a bit more. Particularly when it concerns your boat.

YACHT INSURANCE

Kuiper Yacht Insurances: your safe beaconSTEER A SAFE COURSE

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In the large majority of cases, the choice is for what is popularly referred to as an ‘all risks’ cover. We prefer to call it legal liability/hull insurance.This is the most comprehensive format that we areable to offer.

COMPREHENSIVE THIRD-PARTY LEGAL LIABILITY/HULL INSURANCE

Third-par ty legal liabilityThe insured amount for this is € 5 million per claim, no less. This insures you against claims for property damage and/or personal injury caused to third parties with or by the vessel. Liability claims do not carry an excess. However, you will lose your no-claim bonus (see page 12). This is logical, because in such a case you are liable for the damage/injury caused.

The Kuiper yacht insurance cover

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HullThe vessel (‘hull’), including the value of the engine(s) and equipment is insured for market value. This is the current value of the vessel at the time you insure it. For new vessels therefore, this is their replacement value.The hull insurance inter alia includes:- claims for material damage resulting from

an external cause, such as a collision, a storm, a break-in/theft, fi re, lightning strike and induction, running aground and sinking;

- claims for material, consequential damage resulting from an internal cause, also referred to as “inherent vice”. With regard to engines, this cover is limited to 60 months.

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ContentsThe contents of the vessel, up to a value of 20% of the insured amount for the vessel, is included in the cover at no extra cost. For example, if your vessel is insured for € 100.000,-, then the contents are insured in addition to that, up to the amount of € 20.000,-. Contents include inter alia clothing, galley ware, bedding, books and phones. However, for certain content items, such as money, jewellery, valuables, photo and video cameras, bicycles and computer/audio-visual equipment, there is a limit for each claim.

ExcessYou make a choice from a number of levels of excess (minimum € 50,-). The higher your excess, the lower your premium. The excess is proportional and includes a choice of 0,25%, 0,5%, 1%, 2% or 4% of your insured amount. Let’s assume your vessel is insured for € 100.000,- and you have chosen an excess of 0,5%, then your excess will be € 500,-.

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YACHT INSURANCE

This amount will always be deducted from compensations, except in the event of- a claim for damage/injury to a third party;- a claim for the cost of getting assistance;- a claim for the total loss of the vessel;- a claim under the “accidents of persons

on board” cover.

In principle, the question of liability is not important. This means that the excess is also deducted from the amount of the claim when it is not your fault, such as a loss caused by storm, lightning or break-in/theft. If a third party is fully liable for the damage to your vessel, we will attempt to recover the excess withheld from this third party, as a service. This must not involve a disproportionate amount of costs and the chance of success must be considered to be reasonable. In practice regrettably, the recovery of excesses often leads to disputation. Dinghy

A dinghy, provided it is not longer than the width of the main vessel and has an outboard motor of not more than 10 HP, can be covered by the same policy and at the same premium tariff. The details of the dinghy must be known to us, of course. In the case of damage to the dinghy, an excess of € 100,- applies for each event. For boats that do not fi t our defi nition of a “dinghy”, but are used as such, we will fi nd a suitable insurance solution.

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Winter storage and transpor tThe insurance cover is current for the entire year, including the winter months. Slipping, including storage on land or on the water is covered. Any transport to winter storage is also covered. Road transport within the area of coverage is insured in any case, including loading and unloading.

Accidents of persons on boardThe comprehensive insurance includes as standard, i.e. without additional premium, an accident cover for persons on board. We call it “package 1”; see the table below. If you wish to insure for higher amounts, you can choose either “package 2” or “package 3” at an additional premium.

Package 1 Package 2 Package 3

Death € 7.500,- € 15.000,- € 30.000,-Permanent disability € 15.000,- € 30.000,- € 60.000,-Medical expenses € 500,- € 1.000,- € 2.000,-Maximum per accident € 25.000,- € 50.000,- € 100.000,-Extra premium none € 12,50 € 25,-

Payment for additional expensesIn the event of a claim that is covered, i.a. the following additional expenses also qualify for reimbursement:- towing and assistance fees;- raising and removal expenses;- salvage costs;- the costs of transport and security of

the vessel to the nearest repairer;- repatriation expenses for the vessel and

the persons on board (also in the event of sickness or accident);

- the cost of defending a civil court case and the cost of legal representation in a criminal procedure;

- replacement holiday accommodation to a maximum of € 3.500,-;

- a security bond required by a public authority, to a maximum of € 25.000,-.

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CompensationCompensation for damage to a vessel that is less than 10 years old will be on the basis of repair costs without a discount for any improvements. For vessels that are older, a fair discount may be applied if improvements eventuate. This may also apply to a number of items that are subject to greater wear, such as rigging, covers, sprayhoods, etc. Compensation for contents is based on replacement value, unless the market value is less than 40% of the replacement value. In the event of a total loss, we pay the market value of the vessel less any residual value. See also “Expert valuation” on page 14.

Areas of cover1. The Netherlands, limited:

The Netherlands, with the exception of coastal waters, Waddenzee, Dollard, Eems, Wester schelde, IJsselmeer and Markermeer, but including IJmeer.

2. The Netherlands: The Netherlands, including Waddenzee, Dollard, Eems, IJsselmeer, Markermeer, Oosterschelde and Westerschelde.

3. Standard: Europe, up to 10 nautical miles from the coast and up to longitude 35° east.

4. Standard (as in 3) with small square: latitude 70° to 43° north, longitude 20° west to 35° east.

5. The Mediterranean: The Mediterranean (including bordering waters, but excluding the Black Sea), up to longitude 5° west and 35° east, and latitude 30° north.

6. Large square: latitude 70° to 30° north, longitude 20° west to 35° east.

7. Extra large square: latitude 70° to 25° north, longitude 35° west to 35° east.

• Speedboats only qualify for area 3.• Areas 4 to 7 are intended for seaworthy yachts.• Areas 1 and 2 will attract a premium reduction. • Areas 5 to 7 will attract additional premiums. This also applies

to a homeport outside The Netherlands (provided it is acceptable to the insurer).

YACHT INSURANCE

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Bonus-malus discount (no-claim bonus)Depending on the number of claim-free years of insurance, you will receive a discount (bonus) on the basic premium. This discount may become as much as 50%. A claim does not immediately become fatal. There is a favourable step-back arrangement. Our table is as follows.

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In the event of four or more claims, there is always the -2 step to go back to. At the start of the cover, a so-called ranking will take place. The more claim-free years you can establish, the higher your ranking. Establishing your claim-free status needs the original no-claim or termination declaration from your previous insurer. In principle, this declaration must not be older than 12 months.

Contract periodThe contract period is a standard 12 months. However, you can also opt for a period of 36 months. This will attract a substantial discount: 10%. Certainly worth considering!Because the 1st of April approximately heralds the start of the new sailing season, we have chosen it as the common renewal date. If the insurance cover is taken out on 1 June for example, then the fi rst ‘year’ will run from 1 June to 1 April of the following year. The years after that will comprise a full 12 months.

Premium discounts- maximum 50% bonus-malus (no-claim)- up to a maximum of 30% for a higher excess- 15% for the “Netherlands, limited” area of cover- 10% for the “Netherlands” area of cover- 10% for a contract period of 36 months

YACHT INSURANCE

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Exper t valuationFor certain types of yachts, such as current slow-sailing cabin boats, it is possible to fi x the insured amount for three years. In the event of a total loss, we will pay out the insured amount, even if the current market value at that time is less. This will offer some extra certainty, but there are some conditions attached to this “expert valuation”. The most important of them is that any valuation expenses are to be paid by you.

OTHER FORMS OF COVER

Apart from the comprehensive (liability and hull) insurance, we carry two other forms of insurance cover:

Third-party legal liability only with a sum insured of € 5 million. This insures you against claims for damage and/or personal injury caused to third parties with or by the vessel. Damage to your own vessel is not insured. TP insurance does not carry an excess.

Third-party legal liability/fi re/theft. The name says it all. Fire damage and theft claims do carry an excess.

CLASSIC YACHTS

For classic yachts, we apply special tariffs. “Classic yachts” are pleasure yachts built before 1960, which are in perfect and (near-)original condition.

YACHT INSURANCE

On the road to another boat show...

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BOAT SHOWS

Since 1981, we have had a stand at many important Dutch and German water sport exhibitions. We consider it important to ‘fl y the fl ag’ for a number of reasons.

First of all of course, to maintain contact with our existing connections which, fortunately, are a great many now. We also make contact with many potential, new customers. This is an excellent way for both parties to gain an understanding of each other. In our experience, personal contact still works better that contact by fax or e-mail. Moreover, a boat show is an excellent way to stay in touch with all developments in the fi eld of water sport. We believe it is part of our trade. We enjoy being in the middle of it; it allows us to hear and see what is happening. Moreover, an exhibition offers excellent opportunities for making and maintaining contact with boatyards and suppliers. After all, a good knowledge of the market makes claims settlement more effi cient.

YACHT INSURANCE

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Kuiper Verzekeringen BVInt. Business Reply ServiceI.B.R.S./C.C.R.I. N

uméro 51

8440 VB HEEREN

VEENPAYS-BA

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I.B.R.S./C.C.R.I. N° 51