Our vessels are insured by underwriters in London. Various policies create a limit of $2 million coverage for property damage and liability, subject to the terms and conditions of the policies. Hull insurance is included with vessel specific deductible amounts that range to more than $18,000. The RIB tender and outboard motor enjoy the same liability coverage but have NO HULL INSURANCE.

As the charterer you are responsible for ALL losses or damage, to the chartered yacht, its' inventory or to another's property or person, that is not covered by insurance.

We require that you 'buy down' the deductible amount on the yacht and the tender to a manageable number that varies from $350 to $1600 depending on the vessel in question. We call these 'buy downs' "CDW". The difference between the 'bought down' deductible and zero is the amount of the Security Deposit. The Security Deposit is paid in CASH or TRAVELER'S CHECKS ONLY at the time of boarding and is returned at the conclusion of the check back in procedures at the end of your charter. Exceptions to this prompt return policy include situations that will require a diver or for which a cost cannot be readily determined.

You will be protected against having to pay more than the amount of your Security Deposit unless the loss or damage in question is a result of a violation of the Bareboat Charter Agreement, negligence or a willful act or failure to act. If such a situation should arise you are still fully covered by the yachts insurance policies subject to full amount of the named deductible.

As the contracted charterer you are automatically covered under these policies as an additional insured, up to the policy limit. The policies require (among other things) that you operate the vessel in conformity with all laws and regulations of the jurisdictions sailed within, observe and comply with the COLREGS (Rules of the Road), that all of the rules and regulations (written or oral) of the charter company be observed and complied with, that common sense, good seamanship and prudent judgment be exercised at all times and that any accident (to a person or property) be reported to the appropriate authority and the charter company as soon as possible.

At the conclusion of your charter, the vessel will be inspected by CYOA and the cost to repair ANY damage and/or the cost of ANY lost items will be deducted from your security  deposit. The CYOA base manager is the sole arbiter of these adjustments.

Some (but not all) examples of things not covered by 'bought down' deductible include:

• Any loss, injury or damage arising out of an event occasioned by a willful or negligent violation of the terms of the demise charter contract.
• Any loss, injury or damage arising while operating the yacht under the influence of drugs or alcohol.

• Any damage to the vessel caused in connection with the use of tobacco products – inside or outside.

• Seizure of the vessel by authorities for any reason.
• Deliberate or willful damage.
• Loss or damage to personal property (this can often be covered by your homeowners policy).
• Any loss, injury or damage arising out of an event occasioned by willful or imprudent seamanship.

• Willful or negligent disregard for the 'Rules of the Road".

• Willful or negligent disregard for instructions given by CYOA checkout captain and staff including written instructions regarding areas considered to be “off limits” and information in the Vessel  Operations Manual.

      Negligence is defined as follows: "Any action that may result in damage, injury or loss caused by a flagrant breach of law, regulation or procedure or by a dangerous act which a charterer should have been reasonably expected to know was incorrect".

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