Greece is one of the world’s leading destinations for marine tourism. Thousands of private and commercial vessels operate in Greek waters every day, creating an increased need for comprehensive insurance protection.
Owning a vessel represents a significant investment, while operating it commercially brings additional responsibilities and risks.
Proper vessel insurance goes beyond fulfilling a legal obligation. It is an essential tool for protecting your assets, the people on board and your business activities.
What Does Vessel Insurance Cover?
Depending on the type of vessel, its use and the insurance programme, the following covers may be available:
- Third-Party Liability: Protection against compensation claims for bodily injury or property damage to third parties.
- Hull & Machinery: Cover for damage to the vessel itself and its machinery arising from insured risks.
- Fire and Explosion: Financial protection against damage caused by covered incidents.
- Theft: The option to cover total or partial theft, in accordance with the policy terms.
- Marine Risks: Cover for incidents such as collision, grounding or sinking, where included in the policy.
- Marine Pollution: Cover for specified liabilities that may arise from pollution incidents.
- Wreck Removal: The option to cover associated expenses, subject to the applicable conditions.
The scope of protection, deductibles and compensation limits vary between insurance companies and programmes.
Commercial Vessel Insurance: A Different Approach
Commercial vessels, such as day-trip boats, commercial pleasure craft and vessels offering organised sea excursions, have a different insurance profile from private vessels.
Passenger transport, voyage frequency, navigation area and commercial activities require particular attention when planning insurance cover.
In these cases, the following aspects are examined in greater detail:
- Liability towards passengers and third parties.
- The insured value of the vessel and its equipment.
- The possibility of covering broader maritime liabilities through appropriate P&I solutions.
- Potential cover for loss of income following insured damage.
- Compliance with the insurance requirements in force.
Why the Lowest Price Does Not Always Mean Better Insurance
Two vessel insurance policies may differ significantly in price, but also in the protection they provide.
For example, a lower-cost programme may cover only compulsory third-party liability, while a more comprehensive programme may also protect the value of the vessel itself.
Your choice should be based on the vessel’s actual use, its value, the insured risks and the owner’s needs.
My Expertise in Vessel Insurance
As a certified Insurance Advisor at Protect Insurance, I specialise in insurance for private and commercial pleasure craft, with experience in managing insurance needs involving high-value vessels and businesses operating in marine tourism.
My approach is based on a personal assessment of each case, because no two vessels have exactly the same needs.
Through my cooperation with insurance companies in the Greek market, my aim is to provide:
- A tailored insurance proposal based on the type and use of your vessel.
- A comparison of available insurance solutions, focusing on cover rather than price alone.
- Personal service, from the initial assessment through to policy issuance.
- Support in the event of damage, with guidance through the claims notification and settlement process.
For me, insuring a vessel is more than issuing a policy. It means building a lasting relationship of trust with the owner or professional who entrusts me with protecting their assets.
Request a Tailored Vessel Insurance Quote
Whether you own a private pleasure craft or operate professionally in marine tourism, the right insurance protection begins with understanding your actual needs.
Diani Kotsi | Certified Insurance Advisor
Protect Insurance
Contact me to explore the available insurance options for your vessel together.