Insurance Policy


Insurance Policy

Insurance Policy


Sailo offers Safety at Sea

At Sailo, we want to make sure that you are both safe and protected during every adventure on the water. That’s why Sailo has a comprehensive insurance policy through Lloyd’s of London which has been specifically designed for the needs of the Sailo platform. Our policy protects the boat, boat owner, and renter which gives everyone peace of mind.  

 

The Sailo Peer-to-Peer Boat Rental Policy

Coverage Overview

Coverage

Limits & Amount

Hull and Materials, Contents (including Fine Art), Engines and Machinery, and everything connected therewith, nothing excluded, including tenders

Maximum of $2,500,000 agreed value each vessel declared.  Sub-limit in respect of non-emergency towing to $5,000 each vessel, any one accident of occurrence.

Protection & Indemnity Liabilities and Collision / Running Down Clause Liabilities

Limit: Maximum of $2,500,000 each vessel declared, any one accident or occurrence.

Uninsured Boater

Limit of $100,000 each vessel declared, any one accident of occurrence.

Water Sports Liability; Swimming, Snorkeling, Waterskiing, Wakeboarding, Tubing, and/or Aquaplaning only

Limit of $100,000 each vessel declared, any one accident of occurrence.  While vessels are used for water skiing, third party liability sub-limited as follows:

Property damage $50,000

Bodily injury $50,000

Maximum any one accident or occurrence $100,000

Medical Payments

Limit of $50,000, each and every person, each and every incident.

Owners Personal Effects

Limit of $500 per article, limited to a maximum of $1,000 total sum insured.

Deductibles

Coverage

Deductible

Hull and Materials, Contents (including Fine Art), Engines and Machinery, and everything connected therewith, nothing excluded, including tenders

2% of Hull value each vessel any one accident or occurrence

Protection & Indemnity Liabilities and Collision / Running Down Clause Liabilities

$500 each and every occurrence

Uninsured Boater

Nil.

Water Sports Liability; Swimming, Snorkeling, Waterskiing, Wakeboarding, Tubing, and/or Aquaplaning only

$500 each and every occurrence

Medical Payments

Nil.

Owners Personal Effects

Nil.

Eligibility

Sailo’s insurance policy applies to all vessels that meet the following criteria:

The vessel is under 10 years old.

The vessel is valued less than $500,000.

The requested P&I limit is up to $2,500,000.

The owner has had no convictions in the last 10 years.

The owners has had no claims within the last five years.

Vessels that are greater than 10 years of age are required to either (i) submit the latest survey (within 36 months), or (ii) complete a self-survey form prior to coverage being offered. Any deviation from the other points above will require prior approval before being chartered through Sailo.

Claims

We know that our policy will allow you to enjoy a safe and fun day on the water, while our boat owners feel secure about the usage of their vessel. In the unfortunate circumstance where an issue does arise, we ask that you submit a claim through claims@sailo.com.



 

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