MILGAUSS
ADMIRAL MILGAUSS is a recently refitted yacht (2023/2024) built by the renowned Admiral shipyard in Italy. Featuring a modernized aesthetic, low engine hours, and upgraded
THE EYB COUNTRY GUIDES · Greece
Check insurance evidence, verify the distributor and understand the actual policy before handover.
Boat insurance Greece decisions need more than a premium figure. Establish the vessel's documented identity and intended use, then ask what liability and own-boat protection are required or proposed. This guide uses current official customs documentation and insurance-regulator guidance. It labels policy-planning steps as recommendations and leaves current maritime liability minimum figures out where consolidated official confirmation has not been established, rather than turn an older publication into an assurance of compliance.
It is for buyers and sellers arranging handover, a first voyage or a change of use. Confirm current maritime requirements with the relevant authority or a qualified adviser. Ask the insurance provider to explain the actual protection, commencement, exclusions and evidence before treating a quotation as cover. For anything this guide does not cover, email us at info@europeanyachtbrokers.com for the latest information.
Key facts at a glance
AADE's external-user Transit Log manual lists private-vessel insurance among the supporting documents in the stated application warning. AADE external-user Transit Log manual headed 23 December 2025, supplied by its current service page in the June 2026 file.
AADE (Independent Authority for Public Revenue) ·The Bank of Greece describes insurance distribution as including advice, contract preparation and conclusion, and assistance with performance including claims. Current Bank of Greece guidance; no separate update date displayed.
Bank of Greece – Current regulator descriptions of insurance d ·The Bank of Greece directs readers to the relevant professional chamber or Single Information Point on Active Insurance Intermediaries for information about legally practising distributors. Current Bank of Greece guidance; no separate update date displayed.
Bank of Greece – Current regulator descriptions of insurance d ·The Bank of Greece guidance requires a reasoned written response to an insurance complaint within 50 calendar days from submission. Current Bank of Greece guidance referencing Executive Committee Act 88/2016.
Bank of Greece – Current insurer complaints obligations, respo ·The Bank of Greece assesses the stated escalated complaints within its supervisory remit and says it does not resolve private disputes requiring civil-court findings of fact. Current Bank of Greece guidance referencing Executive Committee Act 88/2016.
Bank of Greece – Current insurer complaints obligations, respo ·Section 1
Boat insurance in Greece should begin with the vessel's documented identity, registration and intended use. Our recommendation is to tell the insurance provider who will own and operate the boat, where it will be kept and what voyages or other activities are proposed. Ask the provider and maritime authority to confirm the current applicable liability requirements. This guide does not quote minimum coverage figures from an original law where later amendments remain unresolved. A figure verified in an older publication is not presented as confirmation of today's compliance position.
There is current official evidence that insurance documentation forms part of the stated private-boat Transit Log process. AADE's external-user manual lists private-vessel insurance among the supporting documents in its application warning. Our recommendation is to obtain the actual policy and ask customs which evidence is needed for your circumstances before submission. This application document list is not a universal insurance law for every boat lying in Greece. It should not be expanded into an assertion that every private yacht follows an identical customs or registration route.
The same manual shows supporting-document categories including registry documentation and a crew and passenger list endorsed by the port authority at the first Greek arrival port. Our recommendation is to match the insurance evidence to those vessel and voyage records, without assuming one document replaces another. Check the named insured, identified boat and proposed use with the provider before accepting the paperwork. The current official manual does not establish every policy's protection, premium or exclusions; those need the actual contract and a specific explanation of its terms.
Broker tip: Our recommendation is to give the provider the boat's identity and proposed use, then ask the authority which insurance evidence applies. Treat the actual policy and customs document list as separate checks. A related question is answered in our guide on whether you need a boat survey in Greece.
Boat insurance and tax paperwork on a desk.
Insurance document listed
Section 2
Our recommendation is to distinguish liability protection from protection for the boat itself when discussing a quotation. Ask which risks are insured, who can claim, and what obligations apply to the owner or operator. Request written confirmation of current statutory compliance from the appropriate provider or adviser rather than relying on an unsupported numerical summary. This guide gives no current maritime liability minimums because a consolidated official confirmation has not been established. That gap should be resolved for the actual vessel before navigation, not filled from recollection.
Our recommendation is to ask separately about machinery, equipment, agreed insured value, salvage-related costs and any proposed delivery arrangements. These are policy questions to be answered from the contract, not extra statutory coverage requirements invented here. Ask what is excluded and which conditions require action by you. A simple certificate or application attachment should not be described as evidence of every detail of cover. If a broker or provider explains a point orally, request the relevant wording and keep their written explanation with the policy.
Our recommendation is to compare quotations using the same proposed boat use and storage arrangements. Identify the excess, geographical limits, dates, permitted operators and any condition linked to inspection, repairs or maintenance. No official yacht premium tariff, customary percentage of hull value or guaranteed discount has been verified here. A lower quoted price cannot be assessed usefully while the scope remains unclear. Ask how an ownership change affects the arrangement and obtain specific confirmation of cover commencement before handover, yard work or the first delivery voyage.
Broker tip: Our recommendation is to compare the actual cover, conditions and start date before comparing prices. Obtain a written answer to each unresolved point rather than treating an attachment or quotation as the complete policy. See also our guide on what safety equipment a boat must carry in Greece.
Signing a boat purchase agreement.
Read the actual protection before agreei
Buying or selling a boat in Greece and want a second opinion? Speak to one of our brokers.
Section 3
The Bank of Greece defines insurance distribution as including advice, preparatory work, concluding contracts and assistance in their performance, particularly when a claim arises. It distinguishes insurance agents from insurance and reinsurance brokers. Our recommendation is to ask the person arranging your cover which capacity they act in and who provides the policy. A yacht-sale broker's involvement in a purchase should not be used as evidence that the same person is authorised to distribute insurance. This guide does not establish that authorisation for any named business or individual.
The Bank of Greece describes an insurance agent as acting in the name and on behalf of one or more insurers. It describes an insurance and reinsurance broker as acting by a customer's written order, based on analysis of an adequate number of contracts without being bound in the choice of insurer. Our recommendation is to ask how the proposed product was selected and what service you will receive. These official category descriptions do not prove that every adviser searches the same market or that a quotation is the best possible price.
The regulator directs readers seeking information about legally practising insurance distributors to the professional chamber where they are established or the Single Information Point on Active Insurance Intermediaries. Our recommendation is to verify the relevant registration and then obtain a written quote describing premium, cover, commencement and any conditions. No official premium tariff, customary hull-value percentage or guaranteed discount has been verified for yacht insurance here. Compare the actual terms and ask what happens on a change of owner or use, rather than substituting a price assumption for documented cover. Current consolidated maritime-insurance limits and all later amendments have not been verified; original 2022 numerical minimums are omitted rather than presented as current requirements. No official yacht premium tariff, percentage of hull value, customary discount or automatic policy transfer verified. For these, email us at info@europeanyachtbrokers.com for the latest information.
Broker tip: Our recommendation is to verify the distributor's role and registration, then compare the actual written cover. Ask for the start of protection to be confirmed before handover, storage work or a delivery voyage. Readers often go on to our guide on how much a berth costs in Greece.
Model yacht beside a calculator for boat tax costs.
Distribution includes advice
The Bank of Greece describes insurance distribution as including advice, contract preparation and conclusion, and assistance with performance including claims. Current Bank of Greece guidance; no separate update date displayed.
Source: Bank of Greece – Current regulator descriptions of insurance dThe Bank of Greece describes an insurance agent as distributing in the name and on behalf of one or more insurance undertakings. Current Bank of Greece guidance; no separate update date displayed.
Source: Bank of Greece – Current regulator descriptions of insurance dThe Bank of Greece describes an insurance and reinsurance broker as acting by written customer order on analysis of an adequate number of contracts without being bound in the choice of insurer. Current Bank of Greece guidance; no separate update date displayed.
Source: Bank of Greece – Current regulator descriptions of insurance dThe Bank of Greece directs readers to the relevant professional chamber or Single Information Point on Active Insurance Intermediaries for information about legally practising distributors. Current Bank of Greece guidance; no separate update date displayed.
Source: Bank of Greece – Current regulator descriptions of insurance dSection 4
The Bank of Greece says insurers operating in Greece must have a complaints-handling function under Executive Committee Act 88/2016. Its guidance distinguishes a written expression of dissatisfaction from notification of a loss, a claim for payment or a simple request for information. Our recommendation is to use the appropriate route and preserve the policy, certificate and communications. A disagreement about what cover was promised needs a clear record of the question and answer; an accident notification should not be assumed to perform every complaints step at the same time.
The regulator's current guidance says the insurer must answer a complaint in writing, with due reasoning, within fifty calendar days from submission. It also says insurers publish how complaints can be made and handled on their websites. Our recommendation is to follow those instructions and keep evidence of submission. This is the stated complaint-response timetable, not a guaranteed period for settlement of a yacht claim. Do not promise that compensation must be paid by that deadline solely because a complaint has been sent.
If an earlier complaint has not received a timely or reasoned response and the issue remains, the Bank of Greece guidance describes a complaint to the regulator assessed within its supervisory remit. It also says the bank does not resolve private disputes requiring findings of fact within the civil courts' competence. Our recommendation is to obtain appropriate advice for a disputed claim rather than assume regulatory supervision guarantees an individual payment. Check the correct escalation route and retain the evidence supplied to the insurer and received in reply.
Broker tip: Our recommendation is to retain policy documents and dated communications, and identify whether you are notifying a loss or making a complaint. Use the insurer's published route and seek advice on disputed compensation. Our guide on whether you need a boat licence in Greece covers a related point. For local buying advice, see our guide on buying a boat in Ionian.
Boat sale contract with a legal stamp.
Complaints function required
Practical support
Peter Mattey is a yacht broker at European Yacht Brokers with a BA in Law. He is not a Greek lawyer: for Greek law and tax we refer you to a locally qualified adviser. What we can do is help you plan the transaction, put the right questions to the other side and spot gaps in the paperwork before you commit.
If you are buying or selling a boat in Greece, tell us about the boat and the area through the enquiry form on this page and a broker will reply. For anything this guide does not cover, email us at info@europeanyachtbrokers.com for the latest information.
The handover of a boat at the dock.
Your questions
Yes, AADE's external-user Transit Log manual lists private-vessel insurance among the supporting documents in the stated application warning. That is evidence about this customs process, not a complete insurance law for every boat in Greece. Our recommendation is to ask customs which document applies to your circumstances and obtain separate confirmation of current maritime liability requirements before navigation. (AADE)
No complete-policy protection is established by the application document list used here. AADE's Transit Log manual lists private-vessel insurance, but this guide does not treat that attachment as a substitute for the actual policy wording. Our recommendation is to ask separately about liability, own-boat protection, exclusions and commencement, then retain the provider's written explanations with the contract. (AADE)
The stated application warning also lists registry documentation and a crew and passenger list endorsed at the first Greek arrival port. Our recommendation is to match the insurance evidence to the actual vessel and voyage records, then ask customs about the relevant documents for your case. The manual's categories are not presented here as a universal checklist for every boat transaction. (AADE)
The Bank of Greece directs readers to the relevant professional chamber or the Single Information Point on Active Insurance Intermediaries for information about legally practising distributors. Our recommendation is to establish whether the person is an agent or insurance broker, verify the relevant registration and ask what service they provide. Yacht-sale involvement alone is not presented here as proof of insurance-distribution authorisation. (Bank of Greece)
No, the regulator's fifty-calendar-day requirement concerns a reasoned written response to an insurance complaint. Its guidance distinguishes complaints from loss notifications and compensation requests, and describes its own supervisory limits. Our recommendation is to preserve the policy and communications, follow the insurer's published complaints route and obtain advice about disputed compensation rather than assume the response timetable determines claim payment. (Bank of Greece)
This guide only includes facts checked against official sources. For anything it does not cover, email us at info@europeanyachtbrokers.com for the latest information, and ask a locally qualified adviser to confirm the position for your own boat.
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Check it yourself
Current official Transit Log external-user manual: insurance, registry and arrival-list document categories.
Current regulator descriptions of insurance distribution, agents, brokers and verification route.
Current insurer complaints obligations, response timetable and limits of regulatory escalation.
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