Essor Seguros launches nautical insurance with R$ 15 million limit

Essor Seguros has introduced a nautical insurance product for sport and recreational vessels, offering a Maximum Guarantee Limit (LMG) of up to R$ 15 million, subject to contract conditions. The coverage applies to motorboats, sailboats, and personal watercraft.

The insurance aims to address risks throughout the entire lifecycle of a vessel, rather than just during active navigation. Key areas of coverage include civil liability for collisions during maneuvers, damage to other vessels or structures, and incidents occurring in docking areas.

Additional protections cover risks during land transport, such as loading, unloading, and ramp movements, as well as periods of inactivity in marinas. Potential hazards addressed include mooring failures, adverse weather conditions, fire, electrical failures, and water ingress.

According to the Brazilian Association of Boat Builders and Their Implements (Acobar), the Brazilian nautical sector produces approximately 5,500 vessels annually. Recent data from the São Paulo Boat Show indicated a growth of nearly 10% in vessel sales compared to the previous event.