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Motor yacht insurance in Greece

DigiCare Insurance arranges hull, engine and liability cover for motor yachts, motor cruisers, trawlers and cabin motor boats in Greek waters, under a Greek or foreign flag, on the same policy as our yacht insurance. Engines are part of the insured boat at the value you agree; you see the terms and the IPID before you pay.

  • 100% of the agreed value on a total loss, engines and equipment included, less your deductible
  • Engine damage from fire, grounding, collision or sudden water ingress, repaired up to the agreed value, less your deductible
  • Up to 80% of what you spend to save the boat, paid on top of the hull sum

Under the standard policy a part that fails from wear or a defect is not paid for itself; extended machinery cover for breakdowns is available on request.

Get a motor yacht quote

Reviewed by Costas Matheou, licensed insurance agent

Law 4926/2022, Art. 17 and 74

What the law requires and what we cover on a motor yacht

Motor yacht insurance in Greece starts with compulsory third-party liability. A motor yacht over 7 m is a pleasure craft under Greek law, whatever its flag, so it must be insured while under way, moored or at anchor (Law 4926/2022, Art. 17). A smaller motor boat that counts as a speedboat under the port regulations needs the same minimums (Art. 74). The minimum pays other people; your hull and engines need their own cover.

Death or bodily injury

Greek legal minimum
€150,000 per person, €700,000 per event, €2,100,000 per insurance period

Our policy

Third-party liability, one limit per occurrence in your Schedule

Damage to property

Greek legal minimum
€150,000 per event, €450,000 per insurance period

Our policy

Inside the liability limit, with legal costs

Pollution, fuel spill included

Greek legal minimum
€150,000 per event, €450,000 per insurance period

Our policy

Sudden and accidental pollution, known within 72 hours and reported in writing within 7 days of you becoming aware, inside the liability limit

Removal of a wreck

Greek legal minimum
Not set

Our policy

Removal-of-wreck costs you are legally liable for count toward the liability limit

Hull, superstructure and fittings

Greek legal minimum
Not required

Our policy

Agreed value, total and partial loss

Engines, drives and generator

Greek legal minimum
Not required

Our policy

Part of the insured boat; accidental damage only (see Engines)

Tender and outboard

Greek legal minimum
Not required

Our policy

Covered with the yacht; not while being towed

Salvage and saving the boat

Greek legal minimum
Not required

Our policy

Salvage up to the hull sum; up to 80% of what you spend to save the boat, on top

Collision with another vessel

Greek legal minimum
Not required

Our policy

Up to the hull sum, plus defence costs if the underwriter agrees in writing to contest liability

Personal belongings

Greek legal minimum
Not required

Our policy

Optional; up to USD 5,000 per item

Medical payments

Greek legal minimum
Not required

Our policy

Optional, up to the sum in your Schedule

Engine breakdown (extended machinery cover)

Greek legal minimum
Not required

Our policy

On request, priced separately, subject to the underwriter's approval

Non-emergency towing

Greek legal minimum
Not required

Our policy

Optional; when the boat is disabled away from a safe harbour: a tow, fuel or parts delivered, or emergency labour, up to its limit, less the deductible

Minimums shown are for pleasure craft under 300 gross tonnage. A section applies only when your Schedule shows a sum for it; we ask for a liability limit at or above the Greek minimum. Check that your Schedule also shows a pollution sum at or above the minimum. For a sailing yacht see sailboat insurance or catamaran insurance; for an open fast boat, speedboat insurance or RIB insurance.

Motor yacht insurance cost

What sets the price of your motor yacht cover

Motor yacht insurance in Greece is priced boat by boat, from the agreed value of hull, engines and equipment. The quote is free.

  • 12-month cover in euro, paid by bank transfer
  • Quote from one questionnaire
Get a motor yacht quote

  • The yacht

    What we ask
    Builder, model, year, length, hull material, flag

  • Agreed value

    What we ask
    Hull, engines and equipment together; the percentage deductible is taken from it

  • Engines

    What we ask
    Make and model, power in hp, year

  • Top speed

    What we ask
    Maximum speed in knots

  • Fire safety

    What we ask
    The underwriter may ask about extinguishers, fixed systems and alarms

  • Condition

    What we ask
    Year of the last survey

  • Tender

    What we ask
    The tender and its outboard

  • Mooring and lay-up

    What we ask
    Marina or port, afloat or ashore, lay-up months

  • Cruising area

    What we ask
    The navigational limits in your Confirmation of Cover

  • Use

    What we ask
    Private cruising; charter only with the underwriter's prior approval

  • Skippers

    What we ask
    Each named operator: certificates, experience, claims

  • Deductible

    What we ask
    A hull deductible of 1% to 5% of the hull value; a higher one lowers the premium

Agreed value is the sum you and the underwriter fix at the start; it is paid in full on a total loss, less your deductible.

Placed in the London insurance market through London Marine Insurance Services Ltd, a Lloyd's-accredited broker.

Motor yacht engine cover

Engine damage: what is paid and what is not

Fire or explosion in the engine room
Paid as an accident: Paid; extinguishers must be adequate and weighed every year
Grounding or collision damages shafts, propellers, drives or engines
Paid as an accident: Paid, less your deductible
Sudden water ingress floods the engines
Paid as an accident: Paid as accidental damage
A propeller or leg hits a floating object
Paid as an accident: Paid if it was a sudden impact; scratches and dents alone are not
Lightning or storm damage
Paid as an accident: Paid; a named windstorm carries a deductible of 10% of the hull value
The engine fails from wear or age
Not paid / assessed: The worn part is not paid; accidental damage it causes is assessed under the hull cover
Lack of servicing
Not paid / assessed: Not paid; unmaintained machinery makes the boat unseaworthy, which can void the policy
Manufacturing, design or latent defect
Not paid / assessed: The defective part is not paid
Slow seep through worn seals, hoses or stern glands
Not paid / assessed: Not paid (gradual deterioration)
Frost damage
Not paid / assessed: Not paid (ice or freezing)

Breakdown at sea: unless an accident caused it, the standard policy does not pay the repair; extended machinery cover is available on request, and the optional towing cover pays a tow to the nearest repair place, up to its limit.

Source: the London Marine yacht policy wording we place, definitions 4 and 11, hull cover, hull exclusions 2, 3, 5 and 7, conditions 1 and 9.

Exclusions

What motor yacht insurance does not pay

  • Wear and tear, gradual deterioration and lack of maintenance
  • Manufacturing, design or latent defects
  • Osmosis, blistering and electrolysis; scratches and dents
  • Ice or freezing
  • Fire after extinguishers were not maintained or weighed every year
  • Races and speed trials the underwriter did not agree to in writing
  • A skipper who is not a named, approved operator
  • A boat that is not seaworthy or properly crewed
  • Cruising outside your navigational limits
  • Using or living aboard during a declared lay-up
  • Theft without visible forced entry
  • Damage to the tender while it is towed
  • Road transport over 150 miles from where the boat is kept, unless agreed
  • Loss of use, hotel and travel costs; fines
  • Liability to your household, to paid crew (unless added), to anyone towed and to divers
  • "Cigarette" boats, trimarans and cement hulls; jet skis are outside this facility
  • Boats under the Russian flag, and owners on a sanctions list

Example engine-room fire

€60,000

You · €5,000Underwriter · €55,000

Example: on an agreed value of €250,000 with a 2% deductible, a €60,000 engine-room fire repair costs you €5,000 and the underwriter pays €55,000. After a named windstorm the deductible is 10% of the hull value: you pay €25,000, the underwriter €35,000. Hull deductibles run from 1% to 5% of the hull value.

4 steps

How to insure your motor yacht online

  1. 01

    Fill in the questionnaire

    Motor yacht is preselected. Add the boat, engines, top speed, value, mooring and skippers.

  2. 02

    Get the terms and the IPID

    Before you pay. The underwriter may ask for photos within 14 days or a survey within 45 days of the start date.

  3. 03

    Pay by bank transfer

    Cover starts on the date in your Confirmation of Cover.

  4. 04

    Keep the certificate on board

    Greek law accepts an insurance certificate in Greek or English, kept on board (Art. 17(1)).

Documents: registration, skipper licences, last survey or engine service records, mooring contract.

  • Registration
  • Skipper licence
  • Survey or service records
  • Mooring contract

Claims

If the boat or her engines are damaged

Limit the damage at once; up to 80% of what you spend to save the boat is paid on top of the hull sum. Give London Marine written notice as soon as possible and report a fuel spill in writing within 7 days of becoming aware. Let the underwriter inspect before repairs and admit no liability without consent.

  • Legal action on a claim within 1 year
  • English law, arbitration in London
Get a motor yacht quote

FAQ

Questions about motor yacht insurance in Greece

Is motor yacht insurance compulsory in Greece?
Yes, for a motor yacht over 7 m under any flag: it is a pleasure craft and needs third-party liability cover at the minimums of Law 4926/2022, Art. 17, in force since 1 June 2022, with the certificate on board. For an uninsured yacht the owner is fined €150 per metre of length and the skipper €100 per metre (Art. 20), €50 if the certificate is not on board, and the port authority can stop the boat leaving. Hull and engine cover is your choice; for other boats see yacht insurance.
My motor boat is 7 m or shorter. Do I still need insurance?
Yes, if it counts as a speedboat under the Greek port regulations: Law 4926/2022, Art. 74 requires the same minimums for owners of speedboats, private or professional, that are not pleasure craft (in practice boats of 7 m or less), and for motor-boat hirers. Older rules quoted on some sites rest on provisions repealed by Law 4926/2022; whether your boat is a speedboat is set by the port regulations, so check its registration document or ask the port authority.
Will insurance pay for a blown engine?
If an accident caused it, yes: fire, grounding, collision or sudden water ingress, at the agreed value, less your deductible. The policy does not pay for the failed part itself when it wore out, was not maintained or had a defect; accidental damage that failure causes is assessed under the hull cover. Breakdown itself can be insured with extended machinery cover, available on request, priced separately and subject to the underwriter's approval. Keep service records: unmaintained machinery makes the boat unseaworthy under the policy, and a breach of the seaworthiness warranty can void it.
Is an engine-room fire covered?
Yes, as accidental damage, at the agreed value, less your deductible. One condition: any fire-extinguishing equipment on board must be adequate for the area it protects, properly installed and maintained, with the tanks weighed once a year and recharged when needed.
My boat sank at her berth. What is covered?
Sudden water entry, such as a through-hull fitting broken by an impact or storm damage, is accidental damage to the boat. Slow ingress through worn seals, hoses or glands is gradual deterioration and is not paid. Removal-of-wreck costs you are legally liable for count toward the liability limit.
Who pays if the engine breaks down at sea?
The standard policy does not pay the repair unless an accident caused the breakdown; extended machinery cover for breakdowns is available on request. With the optional non-emergency towing cover, the underwriter pays, up to its limit, a tow to the nearest place for repairs, delivery of fuel or parts (not their cost), or emergency labour on the spot.
Are my tender and outboard covered?
Yes, with the yacht, when you list them. Damage while the tender is being towed is not covered. Every theft claim needs visible evidence of forced entry, and a tender stored away from the yacht is covered only at a place the underwriter has agreed.
How much does motor yacht insurance cost, and does top speed matter?
Motor yacht insurance in Greece is priced per boat: the underwriter rates the agreed value, the engines and top speed, fire safety, mooring and lay-up, cruising area, skippers, claims history and the deductible, so we publish no average. Races and speed trials are excluded unless agreed in writing, and "cigarette" boats are not insured. The free quote shows the price for your boat.
Do you insure older motor yachts? Is there an engine-age limit?
The policy wording sets no engine-age limit. The underwriter may ask for a survey: it must be received and approved within 45 days of the start date and its recommendations carried out within 30 days of the survey, otherwise the policy is void from the start.
Is my boat covered on a trailer or by road?
Damage during road transport more than 150 miles from where the boat is normally kept is excluded unless agreed in writing before the trip. On land, theft is covered only from a locked building or enclosure, or a place the underwriter approves, and a trailer attached to a car needs a working ball lock. Liability while the boat is on its own trailer is excluded, except when launching or hauling out.
How quickly must I report a claim?
Take reasonable steps to limit the damage straight away, then give written notice as soon as possible, with where and how it happened. Tell the port authority where required, send the claim form with at least two repair estimates, and let the underwriter inspect before repairs or removal. A fuel spill must have become known within 72 hours and be reported in writing within 7 days of you becoming aware. Legal action on a claim must start within 1 year.
Is it better to buy online, through a local agent or a marina broker?
Online with us you get the terms and the IPID before paying, and London Marine handles claims for the insurers on your policy. A local tied agent sells the Greek insurers it represents. A broker compares several insurers for you under a written mandate and may charge a fee.
Important information

Cover is placed in the London insurance market through London Marine Insurance Services Ltd, a Lloyd's-accredited broker, and underwritten by the insurers named in your policy Schedule. Terms, exclusions and limits are in the policy documents (IPID and policy wording) provided in English before purchase. Charter is covered only with the underwriter's prior written approval. Extended machinery (breakdown) cover is quoted separately on request.

The policy is governed by English law; disputes go to arbitration in London.

Greek law requires third-party liability insurance for pleasure craft over 7 m, including motor yachts, and for speedboats that fall outside that definition (Law 4926/2022, Art. 17 and 74). Keep your insurance certificate on board.

DigiCare Insurance is a licensed insurance intermediary. Legal information · How we review content

Complaints: contact us first; you can also turn to the Consumer Ombudsman (Συνήγορος του Καταναλωτή).

Reviewed by Costas Matheou, licensed insurance agent · Last updated: