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Yacht Insurance

Protect Your Luxury Yacht Year-Round with our Agency's Yacht Insurance

Secure Your Lifestyle with Our Yacht Insurance

Whether you're navigating the coast on your luxury yacht or enjoying international marinas, our yacht insurance ensures your lifestyle is protected all year round.
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Yacht Insurance

Understanding Yacht Insurance

Yacht insurance is a specialized policy offering liability coverage for sailing vessels. It offers protection against property damage, personal property damage, and bodily injury while on board.

Cost of Yacht Insurance

Yacht insurance costs vary based on multiple factors, including:

The state where the boat is moored or stored
The yacht's age, size, and type
Motor specifications
Purchase price
Usage duration (seasonal vs. year-round)
Corrosion risk (fresh vs. saltwater)
Boating safety course completion
Driving and claim history
Navigational area
Experience with similar-sized vessels
Usage (pleasure vs. commercial/charter)
Crew exposure
Insurance scoring
Coverage limits and deductible

Coverage Details of Yacht Insurance

Hull Coverage
This primary component of yacht insurance protects the owner from losses due to damage to the yacht.
Boating Equipment
Policies differ in how they classify equipment used for yacht operations. This equipment might be included in the hull limit or as a percentage of the hull value, varying by insurer.
Uninsured Boaters
This coverage provides bodily injury protection for a covered person if an uninsured boater strikes your vessel.
Crew Coverage
The Jones Act allows crew members injured due to negligence to seek damages. This essential coverage, typically an endorsement to your yacht policy, protects you as the vessel owner if a crew member files a claim.
Towing and Labor
The policy limit is crucial here. Some policies have occurrence limits subject to an annual aggregate limit. It's important to know if there's a maximum limit for offshore towing and whether claims are reimbursed or billed directly by the insurance company.
Watercraft Liability
Also known as Protection & Indemnity, this coverage includes third-party bodily injury (BI) and property damage (PD) liability when an insured operator is at fault in an accident.
Bodily Injury (BI) Coverage: Pays for medical costs, lost wages, sickness, or death related to an accident, along with legal fees and compensation for pain and suffering. It also covers negligence-related injuries.
Property Damage (PD) Coverage: Covers damage to other boats, properties, and structures due to your negligence.

Yacht insurance is intricate but crucial for any yacht owner. It's important to ensure your policy covers all your needs and requirements, with options to add or remove coverages to match specific risk exposures. our Insurance Agency can help you identify the optimal yacht insurance coverage. For a customized price depending on your needs, get in touch with us right now.

At our Insurance Agency, we understand the unique needs of yacht owners. We offer exceptional customer service and support with a team of experienced insurance professionals who can help you find the right policy.

Contact us today to learn more about our yacht insurance policies and how we can help protect your investment and give you peace of mind while on the water.

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