There are four common clauses which are found in many shipyard contracts, and if agreed to by the owner, could act against or violate the terms of the owner’s yacht insurance policy and could ultimately void insurance coverage:
1) Hold Harmless, Defend and Indemnify,
2) Adding Shipyard as Additional Insured,
3) Waiver of Rights of Subrogation, and
4) Limitation of Liability.
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