A security bond and insurance are related but different. Read the operator’s documents and seek professional advice where the financial exposure matters to you.
Identify every amount at risk
Ask for the bond, excess or liability amount, payment method and release timing. Check whether different amounts apply to the vessel, tender, equipment or particular activities.
- Bond amount
- Insurance excess
- Card hold or payment
- Release timing
Read exclusions and responsibilities
Look for geographic, weather, night-operation, grounding, equipment and conduct exclusions. Confirm which people are authorised to operate the vessel and how damage must be reported.
Understand waiver products
A damage waiver may reduce an amount without removing every liability. Ask what it covers, what remains payable and whether it is refundable if the charter changes.
Consider the rest of the trip
Travel insurance may address separate risks such as illness or disrupted travel, subject to its own terms. Do not assume either the operator’s policy or a travel policy covers every consequence.