Understandably, many yacht-charter clients have cancelled spring plans. Still further plans for the summer are on hold due to coronavirus concerns. Some insurance companies, though, offer travel-insurance plans with partial or full coverage in case of trip interruptions. Reasons include illness and mandatory evacuations. For all charters booked this month through its brokers, Northrop & Johnson is offering customers charter cancellation insurance, for free.
For several years, the company has had partnerships with a few insurance carriers. Different carriers cover different scenarios, such as medical coverage for crewmembers who become injured on the job. Specifically for yacht-charter cancellation insurance, Northrop & Johnson is working with iTravelInsured.
Full plan information is on iTravelInsured’s website. According to Northrop & Johnson, the policy it’s offering customers provides for up to 100 percent charter cost coverage if trip interruption occurs. The reasons for interruption may include, for instance, your own illness or injury, or that of a family member, travel companion, or child caregiver. In addition, covered interruption reasons include mandatory evacuations, natural disasters, as well as the theft of your passport or visa.
Several other scenarios are included, too. You can obtain a medical referral, for example, an around-the-clock medical monitoring. Issues such as lost luggage or travel documents are covered as well. Plus, the policy provides up to $100,000 of coverage for an emergency medical evacuation, and $125 per day (to a maximum $500) for travel delays.
The iTravelInsured plan offers coverage for both domestic and international travel. Maximum trip duration is 90 days. Other stipulations apply.
Northrop & Johnson is monitoring government advisories in multiple regions, and remains in touch with captains and owners of yachts in its charter fleet. “While we are vigilantly watching COVID-19 and its progression, we also are optimistic that the summer charter season will be open,” the company says.
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