While the price of building an Imoca has continued to increase in recent years, the cost of insurance has taken the same trajectory. But actually, how does it work to protect your boat in the 2024 Vendée Globe?
Is insuring your boat for the Vendée Globe compulsory?
No. In the notice of race, concerning the insurance of the boat, the 40 skippers at the start of the world tour are simply asked for “a Civil Liability insurance policy due to their participation in the race and due to the boat, 'an amount at least equal to three million €'.
Skippers must provide proof of this guarantee to the organization. They are therefore covered for damage inflicted on third parties but nothing obliges them to insure damage to their boat. In fact, the majority of the fleet does so (largely with the company Pantaenius Assurances Yachts, based in Monaco). “More than 75% of the boats are insured at the start of this Vendée Globe, says Antoine Mermod, president of the Imoca class. This remains the dominant model. »
« Macif is insured, not by Macif since you do not insure yourself »breathes Charlie Dalin, one of the big favorites for victory in this tenth edition. “I have no choice but to insure my boat because we borrowed funds from individuals to get started. I have to pay them back at some point so if I…
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