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Yacht and boat insurance in Greece

DigiCare Insurance arranges hull, machinery and third-party liability cover for motor yachts, sailing yachts and RIBs kept in Greek waters, on a Greek or foreign flag, from one questionnaire. You see the terms and the IPID before you pay.

  • 100% of the agreed value if the boat is a total loss
  • Costs of saving the boat after an accident, up to 80%, paid on top of the hull sum
  • Third-party liability for people on board and others, with legal costs and wreck removal inside the limit

Your deductible is set in your Confirmation of Cover; damage from a named windstorm carries a deductible of 10% of the hull value.

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Reviewed by Costas Matheou, licensed insurance agent

Law 4926/2022, Art. 17

What the law requires and what our policy covers

Greek law requires every pleasure craft over 7 m, and every speedboat of any length, to carry third-party liability insurance while sailing, moored or at anchor (Law 4926/2022, Art. 17 and 74). The minimum pays people on board and third parties. It does not pay for damage to your own boat; hull cover is optional.

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

Pollution

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

Our policy

Sudden and accidental pollution, inside the liability limit

Hull, machinery, equipment, tender

Greek legal minimum
Not required

Our policy

Agreed value, total and partial loss

Salvage and saving the boat

Greek legal minimum
Not required

Our policy

Salvage up to the hull sum; costs of saving the boat up to 80% on top

Collision with another vessel

Greek legal minimum
Not required

Our policy

Up to the hull sum, plus defence costs

Legal costs and wreck removal

Greek legal minimum
Not required

Our policy

Inside the liability limit

Crew and charter passengers

Greek legal minimum
Not required

Our policy

Extensions, when shown in your Schedule

Medical payments, uninsured boaters

Greek legal minimum
Not required

Our policy

When shown in your Schedule

Trailer, personal belongings, towing

Greek legal minimum
Not required

Our policy

Optional; belongings up to USD 5,000 per item

A section applies only when your Schedule shows a sum for it. We ask for a liability limit at or above the Greek minimum when we quote.

Boat insurance cost

Yacht insurance cost: what sets your premium

There is no fixed price. The underwriter rates each boat on its own details. The quote is free and commits you to nothing.

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

  • The boat

    How it moves your price
    Type, length, year, builder and hull material

  • Agreed value

    How it moves your price
    The fixed sum you and the underwriter agree the boat is worth, paid in full on a total loss; the percentage deductible is taken from it

  • Engines

    How it moves your price
    Number, horsepower, fuel and top speed

  • Mooring and lay-up

    How it moves your price
    Marina or port, afloat or ashore in winter, lay-up months

  • Cruising area

    How it moves your price
    The navigational limits in your Confirmation of Cover

  • Skipper

    How it moves your price
    Experience, certificates and past claims of each named operator

  • Use

    How it moves your price
    Private use, or charter authorised by the underwriter

  • Sections and deductible

    How it moves your price
    Each section you add; a higher deductible lowers the hull premium

Quotes are for 12 months, in euro, paid by bank transfer against the invoice.

Underwritten by Lloyd's underwriters and arranged by London Marine Insurance Services, a Lloyd's-accredited broker.

Who needs it

Which boats need cover, and which we insure

Pleasure yacht over 7 m, private use, any flag
Required: Liability compulsory (Art. 17); we quote hull and liability
Speedboat or RIB, any length
Required: Liability compulsory (Art. 74); accepted subject to the questionnaire
Yacht in charter, professional status
Required: Liability compulsory; needs underwriter approval and the passenger extension
Motor yacht
Accepted: Yes
Sailing yacht
Accepted: Yes; racing only by endorsement, sails and rigging excluded while racing
Catamaran
Accepted: Yes, see catamaran insurance
Tender or dinghy
Accepted: Yes, with the yacht it serves
Greek, EU or non-EU flag
Accepted: Yes, subject to the underwriter
Private yacht used for paid trips
Other: Not allowed in Greece (Art. 3(6)(δ)); not insurable
Jet ski
Other: Ask in the quote form
Trimaran, cement hull, "cigarette" powerboat
Other: Excluded
Day-trip passenger boat or vessel of 300 gt and over
Other: Different legal regime; not this policy

Multihulls and charter-fleet catamarans: catamaran insurance.

Exclusions

What yacht insurance does not pay

  • Wear and tear, osmosis, electrolysis and lack of maintenance
  • Latent or design defects
  • Theft without visible forced entry; unexplained disappearance
  • Named windstorm damage without the approved storm plan
  • Racing and regattas, unless endorsed
  • Charter or paid use the underwriter did not authorise
  • A skipper who is not a named, approved operator
  • Sailing outside your navigational limits or during the declared lay-up
  • A boat that is not seaworthy or properly crewed
  • Pollution not known within 72 hours or not reported within 7 days
  • Fines and penalties; war, piracy and seizure

Example repair

€6,000

You · €800Underwriter · €5,200

The deductible is the part of each hull claim you pay. On an agreed value of €80,000 with a 1% deductible, a €6,000 repair costs you €800 and the underwriter pays €5,200. Under the London Marine policy wording, deductibles run from 1% to 5% of the hull value, and 10% for a named windstorm.

4 steps

How to insure your boat online

  1. 01

    Fill in the yacht questionnaire

    The boat, its value, mooring, cruising area, skippers and past claims.

  2. 02

    Get the terms and the IPID

    Before you pay. The underwriter may ask for photos or a survey, which must reach it within 45 days of the start date.

  3. 03

    Pay by bank transfer

    For 12 months, against the invoice. 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 or flag certificate, the skipper's licence (Greek or ICC/RYA), a recent survey or photos, the marina or mooring contract.

  • Registration
  • Skipper licence
  • Survey or photos
  • Mooring contract

Claims

If something happens at sea

Report the incident to London Marine as soon as you can and take reasonable steps to limit the damage; those costs are paid on top of the hull sum. Pollution must be known within 72 hours and reported within 7 days. Do not admit liability without the underwriter's consent.

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

FAQ

Questions about boat insurance in Greece

Is boat insurance compulsory in Greece?
Yes, for pleasure craft over 7 m and for every speedboat of any length, as well as λάντζες (launches), sea taxis and hired motor boats (Law 4926/2022, Art. 17 and 74), in force since 1 June 2022. It replaced the insurance rule of Law 4256/2014. Only third-party liability is compulsory; hull cover is your choice.
What are the minimum liability limits?
For boats under 300 gt: €150,000 per person, €700,000 per event and €2,100,000 per insurance period for death or injury; €150,000 per event and €450,000 per period for property damage; the same for pollution. The minimum covers people on board and third parties.
What is the fine for an uninsured boat?
€150 per metre of length for the owner and €100 per metre for the skipper (€150 per metre if the skipper is the owner), and €50 if the certificate is not on board. The port authority also stops the boat leaving until the certificate is shown.
Does the insurance certificate have to be in Greek?
No. Greek law accepts one or more certificates in Greek or English, kept on board. Our policy documents and Confirmation of Cover are in English.
Does Greek law apply to my foreign-flag yacht, and do you insure owners living abroad?
Yes. The rule has no flag exception, so a foreign-flag yacht in Greek waters needs the same minimum. We quote Greek, EU and non-EU flag yachts and owners living in Greece or abroad; the underwriter confirms acceptance in the quote. No cover is given where it would breach UN, EU, UK or US sanctions.
How much does yacht insurance cost in Greece?
Yacht insurance in Greece has no fixed price: the underwriter rates each boat on its agreed value, engines, mooring, cruising area, skippers, use, claims history and the deductible, so we publish no average. Cover runs 12 months and is paid by bank transfer; the free quote shows the price for your boat.
Can I charter out my yacht in Greece?
Only as a professional pleasure craft: a private-status yacht of any flag may not be chartered or advertised for paid use in Greece (Law 4926/2022, Art. 3(6)(δ)). For charter, our policy needs the underwriter's prior approval and the passenger-liability extension; bareboat charter also needs a written charter agreement. Loss of charter income is an optional endorsement.
Are storms and medicanes covered?
Storm damage is covered as accidental damage. Damage from a named or numbered windstorm carries a deductible of 10% of the hull value and needs a storm plan agreed with the underwriter before windstorm cover applies.
Is theft covered?
Yes, when there is visible forced entry. A boat ashore is covered for theft only from a locked building or a place the underwriter approved; unexplained disappearance is not theft.
Do you insure older yachts? Do I need a survey?
The underwriter may ask for a survey, especially on older boats. It must be received 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.
Who may skipper the boat?
Only the operators named and approved on your policy, holding the certificates asked for. Single-handed sailing is covered only if the underwriter approves it.
Is my RIB or small motor boat covered?
A speedboat or RIB of any length needs the same liability minimum as a yacht over 7 m (Law 4926/2022, Art. 74). We quote RIBs, speedboats and tenders from the same questionnaire; the underwriter confirms acceptance and the hull value it will insure.
Is it better to buy online, through a local agent or a broker?
Online with us you get the terms and the IPID before paying, and London Marine handles claims for the Lloyd's underwriters; the insurer pays our commission. 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 underwritten by Lloyd's underwriters and arranged by London Marine Insurance Services. Terms, exclusions and limits are in the policy documents (IPID and policy wording) provided in English before purchase.

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 and for all speedboats (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: