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Suitable policies for co-sailors

Everyone is basically responsible without limit for the wrongful infliction of damage to third parties. This liability is carried out with all the current and future assets.

In order to cover yourself here, you should have private liability insurance which covers the daily risks from doing certain sports.

This insurance is generally sufficient for one-off or even regular co-sailing with friends.

However, you should check the amount of cover here. A minimum cover of € 3 million is recommended for person and property damage and € 500,000 for pecuniary damage.

In the case that expensive equipment or the boat has been damaged or possibly also if a third party has been injured because of the negligent act of a crew member, the liability/malpractice of the skipper is checked first. If the skipper has acted properly, the crew member who caused the problem's insurance will have to pay for the damage.
This is recommended for boat owners, regardless of whether they have boat liability insurance or not, because private insurance does not always insure the use of a personal boat.
Accident and occupational disability insurance also is recommended for co-sailors.

If a co-sailor injures themselves and suffers permanent physical impairment because of it, which leads to partial or complete loss of professional or occupational ability and thus to a permanent loss of earnings, then this risk should be hedged privately.

Accident insurance should cover a full or partial disability and cover the loss of wages from the accident, meet required disability building conversions and allow for aids or treatment that are not covered by the health insurance.

Hedging at six times the gross annual income is recommended for 30 year-olds, and for 40 and 50 year-olds this is five and four times respectively.
It is also recommended to have life risk insurance, to protect the family in the occurrence of death resulting from an accident. The amount insured should include at least two years' income, in order to have enough time for reorganising life circumstances without financial worries.