Insuring Grand Banks
motor yachts · Singapore
Grand Banks builds motor yachts in Singapore. NAMMERT insures boats of this make regardless of year built or where you bought them, liability, hull, legal expenses and personal accident cover from one house, taken out online in five minutes.
At a glance
Origin
Singapore
Class
motor yachts
Typical sizes
10 bis 25 m
Premium from
from €49 a year for liability
Worth knowing
Grand Banks; cover, cost and conditions
Grand Banks builds trawler yachts of between 11 and 20 metres in Singapore, semi-displacement cruising yachts with a teak deck and classic lines, the reference boat for long coastal passages under engine. The boats are designed for slow speeds and long range, which lowers the hull risk and puts the cruising range at the centre: a Grand Banks really does do what it was built for.
On these yachts the teak deck is the item of value that is most often underestimated. Relaying it costs a five-figure sum on a 14-metre yacht. Wear of the teak, planks worn thin, open seams, is not covered. What is covered are damage events: hail, falling objects, fire, chemical damage from an accident. Reflect the value of the deck in the sum insured, not just the hull.
Questions and answers
Frequent questions
Is the teak deck insured as well?
For damage events yes, hail, fire, falling objects. Wear from ageing and cleaning is not covered. The value of the deck belongs in the sum insured, it is considerable.
The cover that fits
For the whole class of boat
What matters for motor yachts is the same across every brand; engine output, how a claim is settled, cruising range and theft protection. The class page lists every point and every brand in this class.
Other builders in this class
All makes by type of boat
motor yachts
Ohne Zuordnung
motorboats and sports boats
sailing boats and sailing yachts
dinghies and small craft
inflatables and RIBs
jet skis and boards
houseboats and electric boats
catamarans and multihulls
boat trailers
Katamarane & Trimarane
Nautical information What counts before you cast off, papers, equipment, waters
Licence
A powerboat licence (inland or coastal) is required from 15 hp (11.03 kW).
Registration
Registration from 3 hp; for trips abroad carry the boat certificate or flag document.
Waters
Inland, coastal and abroad; plan fairways, bridge clearances, draught and tides.
Equipment
Lifesaving gear, fire extinguisher, anchor, signalling equipment and correct navigation lights.
Cruising range
The agreed cruising range is stated in the policy and can be extended at any time.
Weather
Check wind force in Beaufort and wind direction before casting off, and allow for gusts.
General guidance, not a complete account; what governs are the rules of the waters you are on and your boat’s manual. Current wind force and direction for your waters are shown on the Home.
Series by Grand Banks, with value and cover
GB 42 / 46 Classic is a motor yacht from Grand Banks (Singapore), built from 1985 to 2015, and today changes hands at between €120,000 and €480,000.
GB 54 / 60 Skylounge is a motor yacht from Grand Banks (Singapore), built since 2015, and today changes hands at between €900,000 and €2,600,000.
GB 32 / 36 Classic (classic) is a motor yacht from Grand Banks (Singapore), built from 1975 to 2000, and today changes hands at between €95,000 and €320,000.
For a series built in these years the market value and the replacement cost often differ widely. An agreed value removes the age-based scale, and the figure in the policy stands.
On motor yachts the drive and the electronics together make up about half the value. Both belong in the valuation, otherwise the sum insured is too low.
As the series is still in production, parts are available and repair costs are predictable. Even so, value it at replacement cost including retrofitted electronics, not at list price.
For a series of this age there is no list price left. That is why we work with an agreed value: you state the figure, we agree it, and in a total loss exactly that amount is paid, with no deduction for wear.
Grand Banks insured in five minutes.
Calculate the premium online, policy the same day, or call us: +49 3375 / 29 12 77.
