February 2019 - About insurances, Part I
The question of which insurances have to be renewed, cancelled or changed during my round-the-world cruise will not be so easy.
Health insurance and pension
Almost every country requires a valid health insurance that is not only valid abroad, but also covers the return flight to the country of origin. Furthermore, hull and liability insurance must be adapted to the route, the amount in the event of damage must be increased, etc. First of all, it is necessary to check the existing insurances carefully and to check exactly what is covered or not. For example, my health insurance only covers the stay abroad for up to 3 months. After that, cases of illness are no longer covered. Further treatments are drastically shortened. You cannot cancel this health insurance unless you officially cancel your stay abroad. But if you come back, it is possible that you only get the obligatory health insurance, the additional insurance (treatment by your own selected doctor, hospital stay of your choice etc.) will not be renewed by the insurance due to the age after the return! And if you cancel your registration with the tax/residential municipality, any further compensation you are entitled will be shortened in the amount of your pension...
If I cancel my registration in the registered community, I lose perhaps supplementary benefits at most.
The retirement pension paid out will be reduced if necessary and the health insurance loses its effect because only 3 months are valid abroad.
A change of the health insurance company can result in the fact that the new conclusion covers only the basic insurance and I could be excluded from the supplementary insurance (age-related) when returning from my cruise.
Keep the health insurance.
Taking out an additional foreign health insurance for the time abroad. At all, it is also necessary to check with other insurance companies, which also take out yacht insurance, whether all insurances (health insurance, accident, foreign health insurance, yacht insurance) can be placed with the same insurance provider.
Stay registered with the municipality.
In Switzerland, it is obligatory to take out an accident insurance policy. In the case of an employment situation, this insurance is paid by the company you work for. If you have given up your work position, it must be taken out privately. My insurance runs separately. There is, however, the possibility of integrating it into the existing health insurance policy. I have also been insured in the passenger accident ship insurance.
Check with the health insurance company how high the annual fee is and if it is worthwhile to integrate accident insurance into the health insurance company. Since my ship insurance also covers accidents (passenger accident insurance), it is also necessary to clarify with the existing insurance whether I can cancel it for the time of my stay abroad and renew it when I am back.
The private insurance for the accident should be terminated and should integrated in the health insurance. This, because the private accident insurance taken out today is too expensive. Integrated into the existing health insurance it would decrease by about 80% (!). Now I am still waiting for the result of the insurance broker.
The car will not be needed during my stay abroad and will therefore be sold in 2020. It makes no sense to keep the car for this time. The car insurance can therefore be cancelled. Any overpaid insurance will be refunded.
The car will be sold in 2020, report to the insurance company, for the refund of the unused months (the insurance is paid annually).
At present a collision/hull insurance exists for European waters incl. Atlantic up to the Canary Islands. In addition, a third-party liability insurance and a crew member insurance which covers the accident and death. There is also a skipper's insurance, which I need if I sail other yachts, not my own. The sum of the insured yacht is continuously adjusted as a result of various modifications.
Now it has to be clarified from which point the existing insurance can be adapted to the upcoming round-the-world cruise. Single handed must also be included in the insurance. In addition, lightning strikes, storm damage, electronics and equipment, collisions with containers, whales, etc., theft, burglary, rigging, piracy, running aground, search and rescue operations when going overboard. Furthermore, the crew must be insured against accident and death. This is a challenge for those insurance companies for which I now obtain the offers.
They are not really happy to insure me. It has a lot of restrictions. The whole continent of Africa isn’t in the police. So, Namibia and South Africa really doesn’t should be a problem… Also pirate acting’s are not insured, restriction if a lightning stroke you. Restriction on the Indian Ocean, restriction here and there. It doesn’t please me very much! I am really not sailing in areas e.g. Jemen, Somalia etc. – so I ask me, if they didn’t an offer, to bring me out.
It took its while, but the offer is very clear to read. Not too much questions as in the conditions of Pantaenius. It includes everything in it. Very clearly formulated and it is presented in a transparent manner.
This is an insurance broker, but works together with highly recommended insurance companies. As it is very important to have a good and not to expensive insurance for the world-around cruise, I have given all papers, my notes and all specifications to them. They will analyse all and give me a quote. What is very good in this company, is that they know the market situation and the rules in Switzerland (special for the health and accident insurance, which is obligatory).Marina