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Citadel Insurance

Frequently Asked Questions

Which insurance cover should I take out for my Boat ?

It is advisable to take out a Comprehensive Policy which is targeted to deal with accidental loss or damage caused to your own Property and to Property of other people, including possible death and/or injuries to others. 

How should I calculate the value of my Boat for insurance purposes ?

The insured value should represent the current market value of your Boat. Thus, if your Boat was bought as new, it is recommended an adjustment should be made to the Sum Insured after the first year or two.   

What is not covered ?

These are examples of standard exclusions: 

Loss or Damage caused by:

Normal wear and tear, osmosis, rust and other forms of gradual deterioration, vermin,  moth, marine growth, infestation or damage from insects, animals and marine life, 

Racing Risks (unless extended by Us in writing),

Water Ski-ing (unless extended by Us in writing),

Confiscation of the Boat by legal authorities,

War and Terrorism risks.

Furthermore, unless specified in the Schedule, our Policy excludes loss of Cash, Credit Cards, Jewellery, watches and other Items such as photographic and computer equipment, cellular phones, spectacles and sunglasses. Such belongings should be insured under a more appropriate Policy such as Home Contents insurance.

What happens in case of damage and/or injury to other persons ?

If you are held legally responsible in any way, our basic ‘Third Party Only’ Policy will protect you against accidental loss or damage caused to other people’s property, including possible injuries and/or death. 

Can more than one owner be listed under the Policy ?

Details of any person/s having a financial interest in the Boat should be provided to the Insurance Company.  

Could the Boat be used during the Laid-Up Period of Insurance ?

Our Policy does allow the use of your Boat during the Laid-Up Period which is to be determined by yourself. The following 3 basic restrictions will apply:

Use of Boat is allowed solely between Sunrise and before Sunset,

Use of Boat is restricted to maximum 20 nautical miles from berthing/storage location,

Use of Boat is allowed provided the Met Office does NOT forecast a wind speed in excess of Force 4 on Beaufort Scale.   

Is the Boat covered whilst garaged during the Laid-Up Period ?

Cover under our Comprehensive Policy operates also whilst the Boat is garaged any time during the Period of Insurance, irrespective of the In-Commission and/or Laid Up Periods as stated in the Schedule.   

Is the Boat covered whilst being transported to and from its place of storage ?

Commonly known as Road Transit, our Comprehensive Policy is automatically extended to cover such a risk, provided the Trailer is in a roadworthy condition and complies with the Boat’s manufacturer’s specifications.

Casa Borgo, 26, Market Street, Floriana FRN 1082, Malta

Tel: (+356) 2557 9000

Freephone: 8007 2322


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Branches: Il-Mosta, In-Naxxar, Paola, Haz-Zebbug, Ta' Xbiex, Iz-Zejtun, Il-Mellieha, Victoria - Gozo

Citadel Insurance p.l.c. (Company registration number: C21550), is a company authorised under the Insurance Business Act, Cap. 403, to carry on general and long term business of insurance and is regulated by the MFSA. This website is targeted for risks situated in Malta.