Boat Insurance Glossary – N

Named Insured
The named person(s) whose details appear on the boat insurance policy.
Nautical almanac
An annually produced encyclopedia of marine facts as well as weird and wonderful boating miscellany.
Nautical Chart
Simply one of the most fundamental tools available to those navigating the high seas. These charts highlight shorelines as well as flagging water depths and highlighting known dangers.
A piece of information either incorrectly provided or not provided at all by the insured (or their representative) to the boat insurance underwriter upon taking out a policy (e.g. non-notification of a previous claim by an owner when taking out his/her yacht insurance).
Notice of Abandonment
A Notice of Abandonment is a situation which occurs prior to the declaration of a constructive total loss. When a boat insurance underwriter confirms to a notice they are confirming full liability for the loss of the vessel.