YACHTING24 - Legal Guidelines

Dear Client,

We are required by law to give you a range of information about our company and what we do. Therefore please read the following statements and feel free to contact us if you have any questions.

Intermediary information

YACHTING24 represents a consortium of insurers in the fields of hull, liability and passenger personal accident for yachts as a “tied insurance agent” as defined in paragraph 34d para. 1 of the German Industrial Code (Gewerbeordnung). The activities of YACHTING24 are those of an “Underwriting Agent” with extensive authority from insurers. The yacht owner can therefore be sure that declarations made to YACHTING24 are deemed to have been received by insurers and premium payments made to YACHTING24 are valid with regard to insurers. YACHTING24 does everything – from arranging the policy to making payments in the event of a claim – as a competent decision-maker. YACHTING24 is entered in the register of insurance intermediaries under number D-6RL3-O1CG3-72. The entry can be viewed as follows: Deutscher Industrie- und Handelskammertag (DIHK) e.V., Breite Str. 29, 10178 Berlin, Tel.: 0180 600 5850 (20 eurocents per call from German landlines, max. 60 eurocents per call for calls made from German mobile networks, calls from other networks may vary), www.vermittlerregister.info.

Furthermore I agree, that YACHTING24 can contact me by all means of communication (e.g. by letter, by telephone, by fax, by e-mail) to give information about existing contracts, but also about other insurance related information. This agreement can be cancelled at any time.

As your specialist in yacht insurance matters, it is very important for us that we are able to deal with your wishes and requirements as a client quickly and efficiently. We use the many years’ experience and expertise of our specialists to be able to put together and offer comprehensive and high-quality insurance solutions. So we exclusively provide YACHTING24 insurance products, which have been developed by us as water sportsmen.

Not only does YACHTING24 design the yacht insurances it offers itself, it also converts its cover concepts into insurance products with a consortium or individual insurers. The consortiums which YACHTING24 works with are put together specifically for the purpose by YACHTING24’s specialists after extensive market research. Furthermore, YACHTING24’s system whereby our clients can select certain insurance options themselves in the hull coverage field, makes for tailor-made insurance protection. We would point out that we only offer the insurance products drawn up by us with the insurers involved and cannot offer you a choice of other insurers or products.

The following are available for resolving insurance-related differences of opinion without recourse to the courts:

Versicherungsombudsmann e.V. (Insurance Ombudsman Association)

Postfach 080632

10006 Berlin

www.versicherungsombudsmann.de

Ombudsmann für private Kranken- und Pflegeversicherung (Ombudsman for Private Health and Long-term Care Insurance)

Kronenstraße 13

10117 Berlin

www.pkv-ombudsmann.de 

Right of revocation

You may revoke your declaration of intention to conclude a contract, without needing to state reasons, by giving written notice (e.g. by letter, fax, email) within 14 days.

The revocation period begins to run upon receipt of written copies of the insurance certificate; the policy terms, including the General Insurance Terms and Conditions; additional information pursuant to Section 7, paras. 1 and 2 of the German Act on Contracts for Insurance (Versicherungsvertragsgesetz, VVG) in conjunction with Sections 1-4 of the German Ordinance on VVG Information Obligations (VVG-Informationspflichtenverordnung); and these instructions. However, with regard to contracts concluded electronically, this does not apply until the insurer has fulfilled its obligations under Section 312e, para. 1, first sentence of the German Civil Code (Bürgerliches Gesetzbuch, BGB) in conjunction with Article 246, section 3 of the Introductory Act to the German Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuche, EGBGB).

The revocation deadline is complied with if the revocation is sent out in a timely manner. The revocation is to be addressed to YACHTING24

Consequences of revocation

If revocation was validly made, insurance coverage terminates, and you will be reimbursed for that portion of the premium attributable to the period following receipt of the notice of revocation, provided that you had agreed that insurance coverage was to commence prior to the end of the revocation period.

The portion of the premium attributable to the period up to receipt of the notice of revocation may be retained; this involves an amount calculated as follows: annual premium divided by the number of calendar days in the relevant year, multiplied by the number of days for which insurance coverage was in place.

Amounts repayable are reimbursed without delay and not later than 30 days following receipt of the notice of revocation. If insurance coverage did not commence prior to the end of the revocation period, and if the revocation was validly made, any performance received is to be returned, as are any derived benefits (e.g. interest).

Special notifications

Your right of revocation is void if, at your express instruction, the contract was performed in full both by you and by the insurer prior to your having exercised your right of revocation. There is no right of revocation for contracts having a term of less than one month. - End of revocation notice -

YACHTING24 GmbH’s main business activity is arranging insurance for boats and yachts.

The policy is based on the relevant conditions of insurance. The contract of insurance is governed by the law of the Federal Republic of Germany. The contract language is the language chosen in the policy. In cases of doubt, the contract language is German.

Actions against YACHTING24 GmbH may be brought before the relevant court in Hamburg.

For the total price of the insurance, see the quote area / under “My YACHTING24”. The non-binding quotes here are always based on the current rating scales, therefore prices may differ. A total price is therefore only binding for insurers once you have sent off the proposal to YACHTING24.

The contract of insurance exists when the insurer has accepted your proposal by issuing the certificate of insurance and you have not exercised your right to withdraw. 

You may withdraw from the contract within two weeks without giving any reasons, in writing (e.g. letter, fax, e-mail). The period begins no sooner than on receipt of this instruction. This deadline is deemed to have been complied with if the notice of withdrawal is sent off in time. Notice of withdrawal must be sent to the address of YACHTING24. In the event of a  valid withdrawal, both sides must reimburse any payments they have received.

Cover begins upon payment of the first premium, but no sooner than on receipt of the proposal. Backdating the start of the insurance, such as in the context of provisional cover, is not possible.

All insurance offered by us constitute legally separate contracts and can obviously also be arranged individually.

This contract is effective for one year and is automatically renewed annually unless notice of cancellation has been given in writing by either party at least one month prior to the renewal date.  From the commencement of the second insurance year, the Insured can cancel the contract in writing at any time, with immediate effect.

If the vessel is transferred to new ownership or there is a change in the controlling interest of an owning company, this contract will terminate on the date of transfer. The Insured will immediately notify the Insurer of the actual date of transfer, enclosing a copy of the contract of sale, so that any refund of premium may be calculated.

As a general rule, premiums are payable annually. It is not possible to pay at intervals shorter than a year.

Please contact us by e-mail or using our contact form if you need any further information from us. We’ll be happy to help you.

Yours sincerely

YACHTING24 GmbH