Novamar, a specialist in the marine and yacht insurance segment, now offers a policy for U.S.-flag yachts navigating Cuban waters. Most vessels $50,000 in value or greater are eligible for coverage. Cuba endorsement premiums start at only $500.00.
The limit on stays is 14 days. But if the boat breaks down in Cuba and can’t return to the U.S. under its own power, and needs additional time for repairs, Novamar can extend the coverage.
Novamar’s insurance program is placed with a U.S. insurance company so insureds are covered by state insurance department protections regarding company financial security and claims handling.
According to Craig Chamberlain, president of Novamar, restrictions and regulations regarding yachts owned by U.S. Citizens travelling to Cuba are changing quickly. The company also offers links to online resources to assist boaters in obtaining their permit.
Coverage can be added by endorsement to existing Novamar policies.
Novamar insures boats on U.S. inland and coastal waters, the Caribbean, offshore waters of the North and South Atlantic, North and South Pacific, and the Mediterranean.
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