Connect with us

Thai Life

Boat insurance: Better safe than sorry

Legacy Phuket Gazette

Published 

 on 

PHUKET: If there’s one thing boating enthusiasts let sail off into the wild blue yonder, it’s the thought of liability insurance. The lure of the sea apparently does not account for taking out appropriate coverage.

“One of the most alarming facts about the marine industry in Phuket, and the rest of Thailand, is that there is very little compulsory liability insurance,” says Mike Haynes, managing director of the Lambert Brothers insurance brokerage at Phuket’s Boat Lagoon Marina in Koh Kaew.

If a person wants to insure their own boat, that’s their business, says Mike, but liability insurance is for covering other people who may be affected.

The reasons for poor liability coverage in local waters are varied, explains Mike.

“It’s not so much that yacht owners are too cost-conscious to pay for it, it’s more of the mindset that ‘it won’t happen to me’.”.

What many yacht owners do know well is how prone boats are to bumps and scrapes, especially when navigating tight spaces within marinas.

“Scrape the wrong boat, and the bills can stack up very quickly,” Mike warns.

This is especially so if the damage is to an expensive private yacht, or worse, to a commercial boat. Just like hitting a taxi while driving on the road, while a commercial boat is out of action undergoing repairs – even for minor damage – the person responsible for the damage is also responsible for the loss of income while the repairs are being carried out. The loss of income could be for a simple day charter or week-long commercial hire.

COMPULSORY COVERAGE

But where boat owners have no choice but to carry insurance in Thailand is when they start
carrying passengers as part of conducting business, explains Pornpimol “Paew” Chimsakul, general manager at the Lambert Brothers Phuket office.

“Even then, the coverage is not much,” she says. “The standard is about 100,000 baht per death plus a nominal amount of about 15,000 baht per person to cover medical expenses.

“Any boat carrying passengers, especially tourists, must have compulsory passenger insurance. It’s the harbor master’s job to make sure that they do. Whether or not they actually do is another question.”

Friends renting out their boat for a day charter are also required to have compulsory passenger insurance. The very minute a foreign-flagged boat is used for a commercial activity, that boat must comply with Thai commercial boating laws, including the compulsory passenger insurance.

LOCAL ADVANTAGE

Another reason for the poor extent of liability coverage in and around Phuket is that there’s not much liability insurance offered locally for boating coverage, Mike notes.

“The market volume is not great, but there’s also the factor that there is insufficient specialist expertise among local insurance firms,” he says.

That’s where Lambert Brothers’ range and depth of experience shines through. Through opening its Phuket office at the Boat Lagoon in 2008, Lambert Brothers brought with it more than 70 years experience from Hong Kong, where the company first opened its doors in 1947.

“We started with three people, now there are eight in the office, through slow but deliberate growth.” Mike explains.

Over the years, the company’s clientele has not only grown to cover several hundred boats, but extended beyond the marine industry to now include hotels, schools as well as tailor-made packages for individuals.

Yet, the old “it won’t happen to me” attitude permeates on the island, Mike cautions.

“For some reason the holiday mentality can take over when people move to Phuket, and any thoughts of insurance just stop,” he says.

“We all know we should be more careful than that.”

To contact Lambert Brothers Insurance Broker call 076-238662, email info@lambert-brothers.co.th or go to lambertbrothers.co.th

— Chris Husted

 

Want more from the Thaiger family?

📱 Download our app on Android or iOS for instant updates on your mobile
📧 Subscribe to our daily email newsletter
👍 Like/Follow us on Facebook
🔔 Subscribe to or Join our YouTube channel for daily video updates

Leave a comment below or join the discussion on Thaiger Talk Forums.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Tourism11 hours ago

Pattaya October reopening hampered by obstacles

Coronavirus (Covid-19)12 hours ago

Thong Lor again: 31 arrested in club violating Covid-19 rules

Coronavirus (Covid-19)13 hours ago

Pfizer vaccine application received, review process begun

Phuket Sandbox July 1st

days
hours
minutes
seconds

Thaiger is getting behind local businesses for the restart of tourism in July - up to 50% discounts across all advertising packages in June!

Sponsored by image

Visa16 hours ago

Covid-19 prevention leads to 14 arrests of longterm overstays

Coronavirus (Covid-19)17 hours ago

Covid UPDATE: 3,277 new infections and 29 deaths, provincial totals

Thailand17 hours ago

Red tape and restrictions suggest a slow Phuket reopening

Phuket17 hours ago

UPDATE: Tourism Minister reportedly says July 1 ‘sandbox’ won’t happen

Tourism18 hours ago

Koh Samui eyes August 1 reopening, “Samui Sealed Route”

Weather19 hours ago

Village need rain? Have you considered a giant penis?

Coronavirus (Covid-19)22 hours ago

Covid UPDATE Saturday: 3,277 new infections and 29 deaths

Coronavirus (Covid-19)1 day ago

8.3% of Thailand’s 50 million vaccine target reached so far

Coronavirus (Covid-19)1 day ago

Site launched for June 14 vaccine signup for all foreigners

Coronavirus (Covid-19)1 day ago

Free quarantine accommodation for arriving Thais to be cancelled

Thailand2 days ago

Thailand News Today | Sandbox – bar, clubs closed? Local AZ problems, Sex toy arrest | June 11

Drugs2 days ago

UN report: Changes in Southeast Asia drug trafficking during the pandemic

Thailand3 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism3 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket3 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism4 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand4 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism4 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand5 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand5 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand5 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand5 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand5 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand5 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand5 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand5 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Thailand5 months ago

Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8

Trending