Nanny Cay Resort & Marina, in conjunction with Caribbean Insurers and Guardian Group, has launched a “2020 Windstorm Policy” to cover sail and motor yachts stored afloat or ashore at Nanny Cay during the 2020 hurricane season (June 1, 2020 to November 30, 2020). Rates start at 1.25% for the six month period, with a 3% deductible including named storms.
“The Covid-19 pandemic and subsequent Caribbean-wide border restrictions has prevented many owners from relocating their boats for hurricane season. This insurance policy will provide much needed peace of mind in these stressful times,” said Miles Sutherland Pilch, general manager of Nanny Cay.
The borders to the British Virgin Islands are currently closed and marine traffic is not permitted to enter. However, owners can start the application for coverage now, and the policy will take effect once the yacht is confirmed to be at Nanny Cay.
“Nanny Cay has always been considered to be a good location in the BVI to store or secure a vessel during the Hurricane season,” said Simon Crook, Risk & Loss Coordinator, at Caribbean Insurers Ltd.
“However, the passage of Hurricane Irma in 2017 proved that Nanny Cay is one of the best options for yacht owners during and after major windstorm events. Its location, shoreside storage systems, brand-new docks throughout the marina, coupled with the infrastructure and equipment to quickly start any recovery process after storms makes it a very good Summer storage facility.”
The major policy features:
- Cover is for the six month period: June 1 to November 30, 2020
- Cover is only for yachts stored afloat or ashore at Nanny Cay.
- Hull value must exceed $750,000
- The Hull & Machinery rate is 1.25% for vessels on hard.
- The Hull & Machinery rate is 1.50% for vessels in water.
- Port Risk only – the vessel cannot be used
- Yacht must have must have current Condition/Valuation Survey no older than 3 years old
- Owner must comply with Nanny Cay Marina Hurricane Plans
Excess:
- 3% of Hull & Machinery Sum insured all claims including Windstorm claims
- Third Party Liability – 3% of the Hull & Machinery Sum Insured; only up to the hull value.
For further information and to download the application form visit:
