What would your policy pay?
Enter your boat's value, the sum insured, the repair bill and your excess. You get the share the law lets the insurer pay, the excess and the total loss lines.
The rules the calculator uses
| Rule | What it says | Where |
|---|---|---|
| Under-insurance | If the sum insured is less than the true value, you bear the share of a partial loss equal to the gap. | Maritime Law, Article 285 |
| Agreed value | A value stated in the contract cannot be disputed, except for general average or salvage recourse. | Maritime Law, Article 313 |
| Abandonment line | You may abandon the boat to the insurer if repairs cost at least three quarters of its value in the policy. | Maritime Law, Article 319 |
| Constructive total loss | Only when the cost of recovery and repair would exceed the insured value. | Institute Yacht Clauses, clause 17.2; GIG Gulf handbook |
| Excess | Deducted from each claim; not applied to a total loss. | Institute Yacht Clauses, clause 12.1; GIG Gulf handbook |
| Underwater objects | GIG Gulf adds 20% to the excess (Pleasure Craft) or 15% (Prestige Craft) unless agreed otherwise. | GIG Gulf handbooks |
A worked example
A boat worth AED 400,000 insured for AED 300,000 has a AED 40,000 repair bill and a AED 2,500 excess. The policy pays three quarters of the bill, AED 30,000, less the excess: AED 27,500. The calculator applies the share first and the excess second; neither the law nor the wordings fix the order, so ask your insurer how it calculates. If your schedule states an agreed value, ask how it applies Article 285 to your policy.
Read agreed value and excess for how to set your sum insured.
Sources
- Federal Decree-Law No. (43) of 2023 Concerning the Maritime LawUAE Legislation. In force 29 March 2024. English translation; the Arabic text prevails. Read 12 November 2026.
- Privilege Yacht Terms and Conditions, Comprehensive (Institute Yacht Clauses 1/11/85)Sukoon Insurance. Dated December 2023. Read 12 November 2026.
- Sail Master Pleasure Craft, Policy HandbookGIG Gulf. Code UAEPL15072022. Read 12 November 2026.
- Sail Master Prestige Craft, Policy HandbookGIG Gulf. Code UAEPL30052022. Read 12 November 2026.