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.
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
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.
Yacht must have must have current Condition/Valuation Survey no older than 3 years old
Owner must comply with Nanny Cay Marina Hurricane Plans
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.
Since Caribbean Insurers Ltd (“CIL”) was founded in 1973, its has provided the residents of the British Virgin Islands with all of the insurance coverages they need – from auto to homeowners; from life and health to marine; and from employer’s liability to professional indemnity.
Caribbean Insurers Marine Limited – is a specialized unit within the Caribbean Insurers Group of companies. The personnel responsible for providing a comprehensive range of insurance plans for the protection and security of both the recreational boat owner and commercial operator have a collective experience of over 100 years in respect of all aspects of marine associated risks.