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Motor superyacht under construction inside a shipyard build hall at blue hour

Newbuild to Charter

One programme from the start of construction to the first charter guest.

Building a yacht for commercial use creates risk long before it carries a single guest. We structure one continuous programme that protects the build, the buyer's investment and the owning company, then converts at delivery into full commercial charter cover. One broker, no gaps at handover.

Why a maritime specialist

Keep the risk with the yacht.

A yacht's liabilities can run far beyond its value: collision, pollution, injury to guests and crew, wreck removal. If cover, limits and ownership structure are not set up correctly, a claim against the vessel can reach the owning company and its assets, and in some circumstances the owner personally, the family office and its reputation. A maritime specialist aligns the insurance with the ownership structure, names the right insured parties, sets P&I and liability limits to the real exposure and checks the wordings, so the risk from the ship is designed to stay with the ship.

Ownership structure aligned

Single-purpose owning and operating companies correctly named and insured.

Limits set to real exposure

P&I, pollution and passenger limits sized to flag, tonnage and trade.

Brand and reputation

Crisis response and claims handled by marine specialists, not a generalist desk.

Phase 1 · Construction

Protect the build.

01

Builders' Risk

Hull, machinery, equipment and owner-supplied items from the start of construction through launch, sea trials, delivery and, where arranged, the builder's guarantee period.

Structured around the build contract and delivery schedule.
02

Yard and project liabilities

Builder's liability, ship repairer's legal liability and the owner's liability while the yacht is in the yard.

Each party's interest is set out clearly so responsibilities do not overlap or fall through.
03

Equipment in transit

Cargo cover for engines, components and owner-supplied equipment travelling to the yard.

Designed to follow high-value items from the supplier to installation.
04

People on the project

General liability, pollution liability and maritime workers' compensation for the project.

Arranged where required by the yard's location and the workforce on site.
Protecting the investment

Make the project investable.

01

Delay in delivery / loss of income

If delivery is delayed by an insured event, cover designed to compensate the buyer for lost charter income or financing costs during the delay. Subject to policy terms, waiting periods and limits.

Helps protect the first charter season planned around the delivery date.
02

Builder default and stage payments

Refund guarantee review, plus contract frustration and credit insurance designed to protect stage payments if the yard cannot complete.

Refund guarantees are usually issued by banks under the build contract; we review them against the payment schedule and close the gaps.
03

Lender and investor comfort

Loss payee and assignment arrangements so financiers and co-investors see their interest protected.

Documented in the policy so every stakeholder can rely on it.
04

Change of scope and refits

Cover that follows modifications, upgrades and major refit works.

Values and limits are updated as the scope of the project changes.

For buyers and investors who see a newbuild as a risk, this is what turns it into a structured project.

Phase 2 · Delivery and charter

Ready for commercial operation.

01

Hull & Machinery

Agreed value, including tenders and toys.

Set at delivery to reflect the finished yacht.
02

P&I

Third-party liability, crew, collision, wreck removal, fines.

Limits sized to the commercial exposure of the yacht.
03

Commercial charter

Charterers' liability and loss of charter hire.

Aligned with the charter agreements the yacht will operate under.
04

Passenger liability

Guests and charter passengers carried commercially.

Athens Convention cover arranged where the yacht is licensed to carry more than 12 passengers.
05

Pollution

Oil and bunker pollution and marine environmental liability.

Coordinated with the certificates the flag requires.
06

Crew

Medical, employer's liability and repatriation. Optional war, cyber and kidnap & ransom.

Built around the crew agreements and cruising area.
Compliance

International certificates, arranged.

Where your flag, tonnage and trade require them:

  • Bunker Convention 2001 certificate (bunker oil pollution, ships over 1,000 GT)
  • Nairobi Wreck Removal Convention 2007 certificate (300 GT and above)
  • MLC 2006 financial security for crew repatriation and shipowner liability, where MLC applies to the yacht and crew
  • Athens Convention 2002 passenger liability (where the yacht is licensed to carry more than 12 passengers)
  • EU certificate of insurance for maritime claims (300 GT and above, port calls in EU waters)
One broker, no gaps
  1. 01Start of construction
  2. 02Sea trials and delivery
  3. 03Handover to commercial cover
  4. 04First charter guest

The same senior broker from the first day of construction to your first charter season.

Planning a newbuild for charter?

A complimentary review of your build contract, ownership structure and future charter programme. No obligation.

FAQ

Newbuild to charter questions

Ideally from the start of construction, or as soon as the build contract is signed. Builders' risk, yard liabilities and transit cover are designed to protect the project from day one, and are structured around the build contract and delivery schedule.