Transport Insurance
Our Team
Mrs. İren Arıcan
Head of Operations and Insurance
- Graduated from London Institute of Shipping and Transport in 2007
- She is a Certified Insurance Broker
- Board Member in Wista Turkey since 2011.
- Worked 10 years as an insurance broker in Istanbul.
- Has a thorough knowledge of Marine Law.
- Joined Mega Yacht Transport in 2018 as the Head of Operations and Insurance
- Actively takes part in operations to protect the rights of both the yacht owner and the vessel.
- Loves eating.
- Mother to a rather energetic boy.
Below you can find a small article about transport insurance she wrote;
So why do I need to make a transport Insurance?
Although the chances are very low (less than 1 %) for an incident to be occurred during the transport, the risk is still there! So, it is vital for yacht owners / traders / dealers to have an appropriate cover for their boats to protect themselves financially, especially when you think of the high value of your yacht.
A transport insurance covers the risks of the transport of the goods. It could be limited from just “Total Loss Only” cover to “All risks” cover.
The transport insurance could be only for domestic trading or both domestic and international trading. You may adjust the terms & conditions as per the mode of transport.: i.e. Road, air or sea transport.
What are the risks involved?
Depending on the coverage you purchased, some of the risks that you may encounter during the transport are:
- Damage
- Theft
- Jettison
- Delays
- Usual perils of the transport
Careful!
You have to state the correct value of the goods in order to have a sufficient insurance coverage. And just keep in mind these points;
- To declare excessive or under value of the good will end up reimbursing inappropriate amount against claim amount. At this point it’s always better to have the commercial invoice as per the correct value and correct ownership.
- You have to inform the relevant parties as soon as you acknowledged the damage, otherwise your cover may be jeopardized.
- As long as it is in accordance with the insurance acts, you always have the right to negotiate with the insurer. So, you better have good relations with them at all times.
- You should always choose a reputable & financially strong insurer for your precious yacht although, sometimes, it means paying more premium.
- Whether it is obliged by the authorities or you just simply want your boat to be covered; it has to be arranged prior to operation, and not when you literally and badly need it.
Last but not least, you can always contact me for your questions and concerns regarding transport and general insurance of your boat.
Best regards,
İren Arıcan Head of Operations and Insurance