Trip Cancellation Insurance

November 21,2022


Insurance can help recover money paid for the charter and air travel expenses should an emergency, illness, or harsh weather occur, causing you to cancel or miss your trip.

When the charter schedule has been produced and the smallest details are organised, sometimes, life has different ideas. A cancellation insurance plan helps guarantee protection for the charterers.

There are multiple plans to choose from that offer various levels of coverage for trip cancellation and interruption, including medical benefits and other travel-related events and expenses, ensuring you are protected if you are unable to go on the charter.

These specially designed travel protection plans, paired with our expertise and personal service in the yachting industry, help provide the confidence and coverage charterers need.


  • ‘Cancel for Any Reason’ coverage is available
  • Higher limits offering the right coverage for luxury vacations
  • Simple application process and most proposals are available the same day

What’s Covered?

Here are examples of trip cancellations and interruptions that can be covered:

  • Sickness, injury, or death of the insured, a family member, travel companion, business partner, or child caregiver
  • Primary residence or destination being rendered uninhabitable
  • A documented theft of passports/visas
  • Involved in a merger, job loss, or job relocation
  • Pregnancy complications experienced by the insured, travel partner, or surrogate mother
  • Divorce or separation
  • Documented traffic accident
  • Unannounced strike
  • Inclement weather causing cessation of services provided by your common carrier
  • Mechanical breakdown of the common carrier
  • Evacuations due to natural disasters
  • Emergency military duty for national disaster
  • A terrorist incident
  • Revoked military leave
  • Bankruptcy or default of travel provider
  • NOAA hurricane warning at destination
  • Court order to appear as a witness
  • Jury duty
  • Quarantine
  • Hijacking event

Please note that the listed perils are not all applicable to both trip cancellation and interruption; for complete details, refer to the protection plan provided during purchase. Additional terms apply to every peril.

Which Plan is Right for Your Charter?

*SE Plan – budget-friendly trips

*LX Plan – luxury adventure trips to exotic locations

  • Must be purchased within 20 days of the date your initial trip deposit is received.
  • Must insure 100% of prepaid trip costs subject to cancellation penalties or restrictions (and insure travel arrangements subsequently added to your trip within 20 days of payment).
  • If you are not satisfied for any reason with the plan, you may return your plan and receive a full refund within 10 days from the effective date of your coverage, as long as your trip departure date has not occurred, and you have not filed a claim. The plan is non-refundable after 10 days.

Key Features

  • Limits from US $5 million to US $50 million per event
  • Covers the Charterer’s immediate family, guests, and crew
  • Dedicated Yacht Team (Underwriting and Claims)
  • In-depth claims handling and loss prevention services from the Club’s experienced and qualified staff and a worldwide network of correspondents and lawyers

Why do I need Charterer Liability cover?

  • Most MYBA charter contracts require a charterer to purchase their own P&I insurance
  • The Yacht Owner’s P&I cover only covers the owner’s own liabilities and not those of the charterer or their guests
  • As a Charterer of the yacht, you have exposure to liabilities towards third parties

The Club

The Steamship Mutual Yacht Charterer Liability Cover offers a flexible tailor-made solution for medium to the largest sized yachts. With limits available from US $1 million to US $10 million, the cover aims to satisfy the needs of Charterers whether individuals or companies. The Club benefits from a dedicated Yacht Underwriting and Claims team with deep knowledge and experience in the industry.

The Cover

The Club can provide cover for all or any of the following claims and liabilities, including associated costs and expenses:

  • Guests and Charterer’s family members

The Club covers the liabilities in respect of the Yacht’s guests for any accident occurring on or off the Yacht and her tenders, including whilst participating in water sports activities, shore excursions, and other leisure activities.

  • Pleasure craft, tenders, and water sports

The Club covers the liability for injury or death of persons and for damage to third-party property, arising from the operation of ancillary craft such as tenders, jet skis, and a wide range of Toys used in conjunction with the Yacht.

  • Crew

The Club covers the Yacht Charterer’s liabilities to the crew for any accident occurring on or off the Yacht and her tenders, and also the Charterer’s liability for substitution costs, loss of personal effects, immigration and other fines, deviation, and other costs.

  • Day workers and others on board

The Yacht Charterer’s liability is covered for injury, death, and property claims to third parties of every description.

  • Environmental damage

The Club covers the liability for environmental loss and damage, including fines, resulting from oil pollution or the accidental escape of other contaminating materials such as waste.

  • Collision, dock damage, wreck removal, Fixed and Floating Objects (FFO), and other property claims

The Club covers the liability for damage caused by collision, contact, or interference with vessels, fixed and floating objects, and other marine property, including but not limited to berthing/mooring facilities.

  • Helicopters and other airborne craft

The Club covers the liabilities arising as a result of the presence of a helicopter or other airborne craft on board the Yacht.

  • Firearms

The Club covers the liabilities arising from the use of weapons on board for sporting purposes.

  • Piracy

The Club covers the liabilities for capture, seizure, detainment, whether actual or attempted, or the consequences, consequent on acts of piracy.

  • War risks, terrorism, and similar perils

The Club covers the liability incurred as a result of specified war, terrorism, and other related risks.

Here below are some examples of exposure and how the Club would respond:

(Note: Cover is always subject to the Club’s Yacht Charterers’ Liability Terms & Conditions and the Charterer’s individual terms of entry.)

There is a myriad of insurance plans to protect you, your charter, and your new boating lifestyle. The main goal is always to get you back on the water and living your dream!