Refundable Yacht Charter Deposit
Your Complete Guide to Yacht Charter Deposits
Security n. (sɪˈkjʊərɪti,sɪˈkjɔːrɪti) A thing deposited or pledged as a guarantee.
Deposit n. (dɪˈpɒzɪt) A sum payable as a first instalment on the purchase of something or as a pledge for a contract.
Yacht Charter Deposit ph. (sɪˈkjʊərɪti dɪˈpɒzɪt) typ. A refundable payment made to cover damage made to a yacht during a charter.
Yacht Charter Refundable Deposit Guide
Everything you needed to know but were afraid to ask
Yacht Charter Deposit
What does a yacht charter deposit cover?
It covers all damage to the yacht during your charter.
Can I waive the damage?
Like renting a car, you can pay additional insurance to waive all, or some of the yacht charter deposit. The cost of this type of insurance (if available) is typically 10% of the full yacht charter deposit. Ask your SailChecker consultant for details.
How much is a deposit?
Damage deposits range depending on the age and value of your yacht. They start at around €1,500 and can be as much as €10,000 for the most expensive bareboat charter yachts.
When do I Pay?
Typically, a deposit is taken at the start of your charter by the base. The funds are used to repair the yacht up to this amount should you cause any damage. If you do cause any damage over this amount, the insurance, which is part of your charter fee, will pay for the remainder.
How do I Pay?
Most operators will accept a credit card and take a “pre-authorisation”, so you do need ‘room’ on the card. There are some notable exceptions, your SailChecker consultant is aware of all the variations and will be delighted to help.
How it works
Before and after your charter, the yacht will be inspected. During takeover, you should be careful to note any damage you see. We do recommend taking pictures of anything you see.
Fair Wear and Tear
You should not incur any charges for “fair wear and tear” on the yacht. This is the area that is most disputed. if you believe something broke because it was old, or that you did nothing wrong, you should ask to speak with the base manager.
What should I do if I want to dispute something?
Most charter companies are very good and want repeat business, it is not in their interests to charge customers for damage they are not liable for. But disputes do happen. We always recommend talking to the base and keeping things amicable. You should take lots of pictures. Once you have done
How can SailChecker.com help?
At SailChecker we will always book with a reputable charter company who we know. Sometimes it is preferable to pay a little more to get a better company, or at least one that participates in a review system.
If you are still not enjoying any satisfaction, you should call us here at SailChecker and we will arbitrate on your behalf. It is impossible to make promises, but we are very successful in obtaining goodwill from our operators and have some great examples.
Get Started here
Two clicks is all it takes!
Our expert team of charter consultants have extensive knowledge of Yacht Charter Security deposits. They can explain how it works and how to insurance against damage with a yacht charter excess waiver.
- Work with specialist sailing insurance providers.
- Policies that can waive some or all of the damage deposit.
- Discounts over buying direct.
Simply leave us your instructions and allow our expert team to put you in contact with an appropriate insurance provider.
How Can we help?
SailChecker offers a wide range of partners providing Yacht Charter Security Deposit waivers.
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