Terms and Conditions

Security Deposit Guarantee Protection Program

To Qualify for Cover

When and Where We Will Pay You

  • You must be the person named as the Lead Charterer on any Charter Agreement

  • Cover is extended to other individuals to sail the charter vessel provided they are under the control, supervision, and direction of a qualified skipper.

  • You and all Covered Skippers (including a Professional Skipper in the case of a Bareboat with Skipper charter) must hold a valid internationally recognised Boating Licence that qualifies you to operate the vessel you are chartering such as an ASA, RYA or ICC certification etc. Additionally, in certain countries such as Croatia, you are also formally required to hold a radio (VHF) license.

  • You must not be a permanent resident of a country subject to sanction, prohibition or restriction under United Nations’ resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.

  • Cover is only available for Rental Vessels with a length of less than 55 feet.

  • The Charter Agreement must be on a Bareboat, Bareboat with Skipper, or Flotilla basis. Cover is not applicable in the case of crewed charters.

  • The Rental Vessel must be chartered on for personal and recreational use only

Our Conditions

What We Will Not Pay For

Reimbursements Procedure

The following conditions listed below, apply to each and every part of the Guarantee. If you do not comply with these conditions, We may not be able to pay your claim.

  1. A claim shall not be made payable unless the Rental Vessel has been chartered from a licenced charter company.

  2. A claim shall not be made payable unless you have complied with all requirements of the yacht Charter Agreement and of the chartered yachts insurance policy or any other insurance policy applicable to you under which you are claiming in respect of loss or theft of or Damage to the Rental Vessel.

  3. You must keep to the terms and conditions of this Guarantee. Take all reasonable steps to avoid, prevent Damage, injury or loss and reduce or avoid incurring unnecessary costs.

  4. In deciding to accept this Guarantee and in setting the terms and premium, We have relied on the information you have given us. You must take care when answering any questions We ask by ensuring that all information provided is accurate and complete.

    If We establish that you deliberately or recklessly provided us with false or misleading information, We will treat the Guarantee as if it never existed and decline all claims.

    If We establish that you carelessly provided us with false or misleading information, it could adversely affect your Guarantee and any claim. For example, We may:

    • Treat the Guarantee as if it had never existed and refuse to pay all claims and return the premium paid. We will only do this if We provided you with a Guarantee which We would not otherwise have offered;

    • Amend the terms of your Guarantee. We may apply these amended terms as if they were already in place if a claim has been adversely impacted by your carelessness;

    • Reduce the amount We pay on a claim in the proportion the premium you have paid bears to the premium We would have charged you; or

    • Cancel your Guarantee in accordance with the cancellation rights above.

    We will write to you if we:

    • Intend to treat your Guarantee as if it never existed; or

    • Need to amend the terms of your Guarantee.

    If you become aware that information you have given us is inaccurate, you must inform us as soon as practicable.

  5. You must tell us about any claims as soon as reasonably possible. You must provide us with all the information and help We may need or ask for and at your own expense, provide full details to support your claim, (such as photographs, invoices, receipts, insurance valuations, details of any other parties involved or witnesses etc.). Where you have received medical treatment and/or been detained in hospital, you will need to provide documentary evidence (e.g. medical report, letter from the hospital etc.) Where required to support your claim.

  6. You must report any loss, theft, attempted theft, malicious Damage to the police as soon as reasonably possible and not exceeding 48 hours of discovery.

  7. You must not admit liability on our behalf or to give any representations or other undertakings binding upon us except with our written consent. We shall be entitled to the absolute conduct, control and settlement of all proceedings arising out of or in connection with claims in your name or the name of any Covered Skippers.

  8. We may at our own expense take proceedings in your name or the name of the Covered Skipper to recover compensation from any third party in respect of any indemnity provided under this Guarantee and any amounts so recovered shall belong to us. You and/or the Covered Skipper must provide all reasonable assistance to us. You must:

    • Advise us should you be reimbursed any amount from your yacht Charter Company / Agency or a third party that relates to a claim that you have submitted to us.

  9. Fraudulent acts

    If you make a fraudulent claim under this Guarantee, we:

    • Are not liable to pay the claim; and

    • May recover from you any sums paid by us to you in respect of the claim; and

    • May by notice to you treat the contract as having been terminated with effect from the time of the fraudulent act.

    If We exercise our right under this clause:

    • We will not be liable to you in respect of a relevant event occurring after the time of the fraudulent act. A relevant event is whatever gives rise to our liability under the Guarantee contract (such as the occurrence of a loss, the making of a claim, or the notification of a potential claim); and

    • We need not return any of the premiums paid.

  10. If any claim is covered by any other insurance, or would have been covered if this Guarantee did not exist, We will:

    • Not pay under this Guarantee if a more suitable insurance policy is in force; or

    • Only pay our share of the claim even if the other insurer refuses the claim.

  11. Contracts (rights of third parties) act 1999

    A person who is not a party to this Guarantee has no right under the contracts (rights of third parties) act 1999 to enforce any term of this Guarantee but this does not affect any right or remedy of a third party which exists or is available apart from that act.

We are dedicated to providing you with a high-quality service. This Guarantee is our promise to reimburse you if you lose part or all of your Security Deposit due to Damage caused to a vessel booked through us. This Guarantee will form the contract between you and us and is subject to the terms and conditions detailed below.

The Period of Guarantee will start from the time you take legal control of the Rental Vessel and will cease:

  1. at the time you return the Rental Vessel to the Charter Company who assumes control of the vessel; or

  2. on the end date specified of your Charter Agreement, whichever occurs first.

We will pay you up to the €3,000, for the partial or total loss of the Security Deposit under the terms of the Charter Agreement for any incident or series of incidents under a single Charter Agreement in respect of accidental Damage to the Rental Vessel including:

  • Damage to the Rental Vessel caused by the Covered Skipper.

  • Damage to the equipment attached to the Rental Vessel which includes, but not limited to the Dinghy (including outboard motor), gelcoat, sails, and winches.

  • Loss or Damage resulting from fire, theft or vandalism;

  • Towing costs resulting from the Damage to the Rental Vessel:

  • Costs associated with wreck removal / disposal

Provided that you are held responsible for the Damage as declared in the Charter Agreement and are liable for the cost of the Damage, to be retained from your Security Deposit.

Valid Charter Agreements

This Guarantee must have been purchased and have commenced prior to the start of the Charter Agreement for which you wish cover to apply. We will not accept any liability for Damage occurring under a Charter Agreement that commenced prior to the start of this Guarantee or ends outside of the Period of Guarantee.

Maximum Charter Period

This Guarantee covers you for a single Charter Agreement during the Period of Guarantee. The maximum period of a Charter Agreement should not exceed 28 continuous days for charters in the Mediterranean Sea and 14 continuous days for charters in all other locations.

Limit of Guarantee

Our Guarantee shall not exceed €3,000 in total in respect of each and every reimbursement during the Period of Guarantee.

Under this Guarantee, We will not pay for any of the following

  1. Any loss of or Damage to the Rental Vessel caused deliberately by you.

  2. Any costs or charges not directly related to an Incident resulting in Damage to the Rental Vessel, including but not limited to, any costs due to mechanical or electrical failure of the Rental Vessel.

  3. Any Damage caused as a result of Gross Negligence including but not limited to the sailing of the vessel without the necessary authorisation, supervision or licence or the sailing of the vessel whilst under the influence of alcohol, narcotics or intoxicants.

  4. Your country of residence is subject to sanction, prohibition or restriction under United Nations’ resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America.

  5. You and any other Covered Skipper do not qualify for cover – as defined on page 3 of this document.

  6. Any Charter Agreement for a period longer than 28 continuous days in the Mediterranean Sea and 14 continuous days for charters in all other locations or which falls outside of the Period Of Guarantee.

  7. Any Rental of a motorboat, motor cruiser, cabin cruiser or RIB.

  8. Damage arising as a result of wilfully self-inflicted injury or illness, alcoholism or the use of alcohol or drugs (other than drugs taken in accordance with treatment prescribed and directed by a registered medical practitioner, (but not for the treatment of drug addiction).

  9. Damage arising from transporting contraband or illegal trade or from the operation of the Rental Vessel in violation of the terms of the Charter Agreement.

  10. Theft of the Rental Vessel;

    a) While left unattended at any time on a trailer unless an Anti-Theft Device protects the trailer; or

    b) By fraud, trick or deception against you; or

    c) By persons to whom the Rental Vessel is entrusted

  11. Any expenses assumed, waived or paid by the Charter Company / Agency or its insurer.

  12. Damage to any vessel which is not the Rental Vessel hired by you under the Charter Agreement. Any Damage, you cause to a third-party vessel, is not covered.

  13. Damage caused by wear and tear, carriage of animals, gradual deterioration, any form of rot, woodworm, crustaceans, fungal infestation or any other insect or vermin.

  14. Your claim results in any way from confiscation by public authorities, war, warlike operations, revolution, riots, strike, or any similar event, terrorism and/or nuclear risk.

    • ‘nuclear risk’, as defined as being from ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; or the radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or component thereof.

    • ‘terrorism’ defined as any act of any person or organization involving, causing or threatening harm or putting the public or any section of the public in fear if it is likely that the purpose is of a political, religious, ideological (of an intellectual or rational nature) or similar nature.

  15. Blocking of the on board toilet

  16. Damage caused by reblocking of the sludge tank.

  17. Loss of, theft, and / or Damage to the Rental Vessel’s fenders.

  18. Losses arising from the Rental Vessel being stranded, sunk, swamped, immersed, or breaking adrift, whilst inadequately moored.

  19. The Rental Vessel is being sailed by persons who are not adequately qualified as defined on page 3 and/or are not under the control, supervision, and direction of a Covered Skipper.

  20. The length of the Rental Vessel exceeds 55 feet.

  21. Any additional cleaning, hire of bedding, berthing, port or fuel fees charged to the Lead Charterer by the yacht Charter Company including where these costs are settled by deduction from the Security Deposit.

  22. Damage where the Charter Company has provided a professional crew to sail the yacht. This exclusion does not apply in the case of a Bareboat with Skipper charter where the charterer maintains liability for any losses.

  23. Loss of or Damage to the Rental Vessel caused by the use of an incorrect type of fuel, lack of lubricant or from the use of substandard or contaminated fuel, lubricant or parts.

  24. Damage is the result of sailing in an area for which the Rental Vessel has not been approved i.e., sailing in an area not included in the Charter Agreement.

  25. You have been specifically alerted to the risk of possible Damage to the Rental Vessel, (for example, warned of high water or the presence of animals that may cause Damage).

  26. Damage caused as a result of the involvement in racing, contests or Regattas, including in the preparation for them.

  27. Damage caused as a result of the Rental Vessel being used when in an unseaworthy condition.

  28. Any financial loss (e.g., seizure of the Rental Vessel due to violation of laws, late return of the Rental Vessel).

  29. Damage caused as a result of the Rental Vessel being used in High Winds.

The following words, expressions or phrases listed below apply to each and every part of the program and will have the same meaning wherever they appear in this document in Bold. Additional definitions where they apply to the specific parts of the Guarantee will be outlined within those sections. Please refer to the relevant parts of the Guarantee for further details:

  1. Accident means a sudden, unexpected, and specific event, external to the body, which occurs at an identifiable time and place.

  2. Anti-Theft Device is a lock that is designed to prevent the outboard motor from being removed from the transom of the vessel.

  3. Baggage and/or Personal Effects means luggage, clothing, Personal Effects and other articles normally worn, used or carried during any Trip/s and which belong to You (or for which You are legally responsible).

  4. Bareboat means where a Yacht is hired without a crew.

  5. Bareboat with Skipper means where a Yacht is hired with a Professional Skipper but the Charterer still pays their Security Deposit and maintains legal liability for any Damage caused to the Rental Vessel

  6. Boating Licence means the necessary official licence for operating the Vessel in accordance with national provisions.

  7. Bodily Injury means an identifiable physical injury to a person’s body which is caused directly and solely by an Accident, is not intentionally self-inflicted and does not result from sickness or disease.

  8. Cash means banknotes, currency notes, coins, and vouchers.

  9. Charter Agreement means the contract signed by the Lead Charterer and the Charter Company for the hire of a Rental Vessel.

  10. Charter Company or Agency means a company that rents charter Yachts for short periods of time, generally ranging from a few hours to a few weeks.

  11. Covered Skipper means You and any other skippers that qualify for cover under this Guarantee to steer the vessel as outlined under page 3 of this document.

  12. Damage means Damage to the Rental Vessel from external causes including fire, vandalism, Accident, or theft.

  13. Dinghies/Tenders means a boat that it is exclusively used in connection with the Rental Vessel. This connection exists e.g., when used as a means of transport from the Vessel to land and back or for the purposes of swimming and leisure activities. Any use of the Dinghy involves it being sailed away from the Rental Vessel and ending its Trip back at the Vessel. A Dinghy can only be something that fits in the type and size of the Rental Vessel and can be transported in a seamanlike manner on the Rental Vessel (davits, rigged on deck, etc.)

  14. Europe means all European countries to the West of the Ural Mountains including the United Kingdom, the Channel Islands, Isle of Man, Republic of Ireland, Iceland, islands in the Mediterranean, Morocco, Tunisia, Turkey, Canary Islands, Madeira, and the Azores, but not including the Region of Crimea.

  15. Flotilla means a charter where you sail a Yacht as part of a fleet of vessels, each operating independently with their own crew and skipper, along with a lead Yacht that is professionally crewed and knows the region well.

  16. Gross Negligence occurs if a person substantially fails to exercise the necessary care required according to the circumstances as a whole, fails to make the most simple considerations and /or fails to take into account anything that should have been obvious to any reasonable person in the specific circumstances.

  17. Guarantee Limit means the maximum We will pay in any one Period of Guarantee regardless of the number of claims You make.

  18. Guarantee means the combination of the Program wording and Charter Agreement showing all of the parts of the cover.

  19. Guarantee-holder means the person who has paid for this Guarantee and is shown on the Charter Agreement.

  20. High Winds means weather conditions at Level 7 or higher on the Beaufort Scale.

  21. Incident means an Accident involving Your Rental Vessel which results in Damage from external causes such as a scratch, chip or dent caused by an Accident that You are responsible for under the terms of Your Charter Agreement.

  22. Insurer means Lloyd’s Insurance Company S.A.for Your Security Deposit Guarantee Program.

  23. Lead Named/Main Charterer means person(s) named as the hirer on the Charter Agreement.

  24. Mediterranean Sea shall include the Alboran Sea, Balearic Sea, Ligurian Sea, Tyrrhenian Sea, Ionian Sea, Adriatic Sea, Aegean Sea, and the Sea of Marmara but does not include the Black Sea or the Levantine Sea.

  25. Period of Guarantee means the period shown in Your Charter Agreemant for which We have agreed to cover You and for which You have paid the premiums.

  26. Professional Skipper means a skipper that has been provided by the Charter Company / Agency to sail the Rental Vessel for the Charter Period. They are not a member of the charter party.

  27. Regattas means Yacht races. Regattas are sailing races held on a set route or at set points. Motorboat races are competitive events held for motorised boat sports.

  28. Rental Vessel means the single sailing monohull, or Catamaran hired under a short-term contract of no more than 28 continuous days for charters in the Mediterranean Sea and 14 continuous days for charters in all other locations days from a Charter Company or Agency. This Guarantee will not cover any Rental Vessel outside of our definition of a Yacht as on page 11 of this Guarantee or a Rental Vessel as outlined under Exclusion 18 on page 4 of this Guarantee.

  29. Security Deposit means the amount that You are responsible for paying in the event of any Damage to the Rental Vessel, as confirmed in Your Charter Agreement.

  30. Total Loss occurs when the Rental Vessel is irreparably damaged or totally destroyed i.e., physically destroyed or lost. Total Loss occurs if, for example, the Rental Vessel is destroyed in a fire or permanently lost as a result of theft.

  31. Trip/s means the period of a single Charter Agreement in respect of a single Rental Vessel which is collected and rented from a Charter Company or Agency for the period stated on the Charter Agreement.

  32. We/Us/Our means the charter company you purchased your protection from as the introducer and Lloyd’s Insurance Company S.A. as the Insurer.

  33. Wreck removal/ disposal means technical measures for moving the remains of the damaged Vessel for the purposes of subsequent disposal.

  34. Yacht means a sailing monohull or catamaran, under this program the term Yacht does not include any motorboat, motor cruiser, cabin cruiser or RIB.

  35. You/Your means the person who took out this Guarantee and is named as the Lead Charterer on the Charter Agreement.

Definitions

Refund requests should be submitted online at https://yachtrefunds.com/ within sixty (60) days of the Incident. However, We should point out that the reimbursement programme covers a list of circumstances in which you may apply for a refund and We are unable to consider any circumstances that are not listed

Please note:

All claims must be notified as soon as it is reasonably practical after the event which causes you to submit a claim.

Late notification of a claim may affect our acceptance of a claim or result in the amount We pay being reduced.

In the event of a legal liability claim, you must not settle, reject, negotiate, or agree to pay any claim without our written permission.

Relevant information is likely to include, but not limited to:

  1. A copy of the yacht Charter Agreement and your booking confirmation.

  2. If the Incident by law requires the attendance of the police, We will require a copy of the police report.

  3. Itemised Damage Invoice

  4. A copy of your credit card statement or other proof of payment showing payment of the damages claimed.

  5. A copy of your Boating Licence.

  6. Photographs of vessel damage, the site of any Accidents or thefts and any other photographic evidence which you think might be helpful in assessing your claim.

  7. Any additional details that may be relevant.

To help us prevent fraudulent claims, We store your personal details on a computer, and We may transfer them to a centralised system. We keep this information in line with the conditions of the data protection act.

Governing Law and Disputes Clause

This Guarantee will be governed by the law in which the charter company you arranged your charter through is based and you and We agree to submit to the courts of the this county to determine any dispute arising under or in connection with it.

The terms and conditions of this Guarantee will only be available in English and all communication relating to this Guarantee will be in English.

How to Make a Complaint

We will do everything possible to ensure that you receive at all times excellent service and being there when you need us. We hope that you do not have cause to complain, however if you at any time, are dissatisfied with the service you have received from us and wish to make a complaint you can by contcting the charter company you arranged your charter with.

In the event that you remain dissatisfied and wish to make a complaint about this Security Deposit Guarantee, you can do so at any time by referring the matter to the Compliance Officer at:

JMM Europe

Harcourt Centre,

Block 4,

Harcourt Road,

Dublin, D02

HW77

Tel: +353 (0) 1 477 3201

E-mail: jmmi.admin@jmmltd.ie