YACHT INSURANCE POLICY MINUS THE FONT SIX WORDS
Prior to the boom of the insurance companies, only less than ten insurance companies control the entire insurance market. It is like the telephone or communication industry. In the olden days, only few companies were given permits or franchises to take advantage of the telecommunication industries and the “ions” of the stratosphere. During that time, the services were bad and one has to wait more than a year to get a phone unit even if he already paid the item in full. When the market was freed in the 90s, we the have numerous goodies like mobile phones, quick installments and low phone bills. The same can be said about the insurance companies. When the market was under the control of a few entities, the services were terribly bad. Craft lawyers who mastered their art of persuasion through words create seemingly friendly and seemingly beautiful lines placed in the yacht insurance policy. The result is the low claim rate because the so-called “adhesive contracts.” Only few people who can afford the best legal teams were able to benefit well.
The days of the font-six words and the adhesive contracts are over. We have new and more modern oriented yacht insurance company offering policies which are much fairer and better negotiated ones. There is no need nowadays to “adhere” blankly on whatever line placed there. There is no more take-it-or-leave-it basis. Customers like you and me can choose from a series of goodies on the internet. Thus, if you are planning to get an insurance coverage, you better get your own police now from a reputable yacht insurance company.