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Last Modified Date: April 23, 2015
Remember, BOATSETTER does not itself offer or provide bareboat charter services. The BOATSETTER website simply brings people together. You are solely responsible for determining whether to offer a boat for charter on the BOATSETTER website.
The Boat must satisfy eligibility requirements in order to qualify for insurance coverage. NEVER assume insurance coverage exists. Look for specific confirmation of insurance coverage from BOATSETTER.
Owner is solely responsible for the accuracy of the Boat listing and solely responsible for knowing and abiding by the laws and regulations for owning and operating a Boat in the jurisdiction in which the Boat will be chartered and used.
If the Boat does not meet the following eligibility requirements Owner must get specific underwriting approval from the insurance carrier for insurance to be effective and from BOATSETTER to be approved for bareboat chartering on the site.
- The Boat must be regularly maintained in accordance with all government and manufacturer recommendations and in accordance with good seamanship practices.
- The Boat must meet all current United States Coast Guard safety requirements and contain all required safety and lifesaving equipment which shall be in good working order.
- Annual Certificate of Condition (COC): The insurer may require the Boat have an initial and annual certificate of condition completed by an approved BOATSETTER Affiliate.
- The Owner must provide the current market value of its Boat.
- If the Boat is greater than 10 years old, the insurer will require the following:
- Boats under 30’ with outboard power must have BOATSETTER Affiliate approved Certificate of Condition completed annually.
- All Boats greater than 30’ and those that are under 30’ that have propulsion other than by an outboard must have a current (within 12 months) survey by an accredited marine surveyor in good standing with either The Society of Accredited Marine Surveyors, Inc. (www.marinesurvey.org) or The National Association of Marine Surveyors, Inc. (www.namsglobal.org). Said surveyor shall produce a written report and all recommendations made within the survey report must be fully complied with and satisfied by the Owner before the Boat may be offered for bareboat charter on the BOATSETTER website.
- The Boat must not have been altered or modified in any way that is not endorsed or approved by the manufacturer.
- The Boat must not be capable of speeds in excess of 55 mph or 79 mph provided the Boat is piloted at all times during the bareboat charter by a properly licensed captain.
- The Boat must have no greater than factory recommended horsepower.
- The Boat must be newer than 25 years old.
- Owner must carry a minimum of $300,000 liability insurance on the boat.
- Boats that fall outside of the standard eligibility requirements and those with insured values between $250,000 and $2,000,000 or in excess of 45’ must submit for specific approval to obtain the benefit of insurance coverage.
- Special written approval by BOATSETTER and the insurance company is required in order to qualify in the program for certain high risk Boats as determined by BOATSETTER and the insurance company.
- The obligation to ensure the Boat qualifies for eligibility to be listed with BOATSETTER always remains with Owner.
Excluded Boats: the following Boats are excluded from participation unless specifically approved in writing from the insurance company and BOATSETTER: Racing Boats, Personal Watercraft, Trimarans, Permanantly moored HouseBoats, Tenders, Ferocement Boats and custom/homemade Boats.