Do I need Mexican Boat Liability Coverage?

The annual migration of several hundred boats is about to begin the journey south along the Pacific coast of Mexico with the arrival of ideal winter cruising weather.  Some of you will sail south alone, some will buddy boat down with a few fellow boaters, and others will participate in the various races and rallies like the Baja Ha Ha and  CUBAR in November, and the Puerto Vallarta Race in early 2016.

Whether racing or cruising to Mexico, all boats navigating within Mexican Territorial Waters must carry Vessel Liability Coverage underwritten by a Mexican-domiciled insurance company.   Yacht insurance policies placed with U.S. or European insurers do NOT fulfill this legal requirement in Mexico. Mexican Vessel Liability insurance is mandatory and will cover you for damages you cause to other yachts, fixed property, or injuries you cause to 3^rd-party individuals as a result of an at-fault collision with your boat. This insurance is very affordable and can be purchased online in real time with a credit card.  The premiums are a small fraction of the government fines you may have to pay, or costs for legal representation, or expenses to pay to 3^rd-parties in the event of an accident. 

Not all Watercraft Liability policies are alike!

1. Many policies EXCLUDE coverage while participating in races or rallies such as the Baja Ha Ha, Puerto Vallarta Race, Banderas Bay Regatta, MEXORC, etc., leaving you on the hook for damages and government fines.
2. Most policies do NOT extend Mexican Liability Coverage to the yacht’s tender, which means a separate policy should be purchased (at additional cost) to cover your dinghy.
3. Most policies are placed by insurance agencies located in the U.S.  Therefore, your agent is unable to provide local service in Mexico, where you and your boat are. 

At Novamar Insurance Mexico, we created the Exclusive Novamar Mexican Vessel Liability Policy to provide the legally required coverage you need, and all our policies INCLUDE the following additional benefits:

1. Boats competing in sailboat races and rallies ARE covered.
2. Coverage IS extended to the yacht’s tenders as listed in the policy at no additional premium charge.
3. Novamar Insurance Mexico is a Mexican-domiciled insurance brokerage located in Puerto Vallarta with U.S. ownership, providing local service in Mexico backed by English-speaking staff ready to assist you.
4. Our Mexican Boat Liability annual policy with premiums from as low as US$198.18 available to be purchased online in less than 5 minutes.

The main objective is to enjoy your guests and family aboard your boat on your trip south.  Part of that enjoyment is having peace of mind knowing you are protected from unforeseen situations, are in compliance with the laws of Mexico, and knowing you have a local insurance agent IN MEXICO to provide assistance where you need it and when you need it.

We hope you choose Novamar Insurance Mexico for your Mexican insurance needs.