Yacht Insurance

yacht insurance

Do you own a yacht and have a standard boat policy? You may be underinsured. Yacht insurance policies do differ from boat insurance policies when it comes to coverage. A yacht is typically classified as a vessel that is 27’ or larger. Due to the large size of these vessels and larger navigational areas, yachts pose a larger risk on the water and attract an assortment of exposures. Due to the distinctive risks, a specialized policy is needed to cover you properly.


Why do you need yacht insurance? Yacht insurance includes coverage for damage to a structure or another boat in the event of a collision, damage to personal property, and liability coverage if there are any bodily injuries or damage to property of others. Yacht insurance can be customized to include additional beneficial coverages as well.




Liability-If you cause an accident, liability coverage will pick up costs linked to bodily injury and property damage inflicted on others. Pollution clean up coverage can be included to give you an extra layer of protection in the event of an accident.


Comprehensive-In the event of a non-collision related occurrence, you will be covered for repairing damages to your boat. Non-collision related occurrence examples include fire, vandalism and theft.


Collision-In the event of a collision, you will be covered for repairing damages to your boat.



*Policies can be customized to include these coverages, they are not automatically included


Towing-If your boat is immobilized, on-water towing will be covered.


Mechanical Breakdown- In the event of a mechanical breakdown, coverage to repair or replace the drive motor and lower unit of an outboard motor is included.


Gas delivery-In the event your yacht runs out of gas, you will be reimbursed for gas to be delivered.


Pet Injury- Do you bring your dog or cat on your yacht for a cruise? In the event your pet or a family members pet is injured, this coverage will cover veterinary expenses (up to a certain limit) per pet on board.


Dinghy/Tender Coverage- In the event of an accident, your dinghy/tender is covered.


Trip Interruption- In the event of damage or a covered loss, accommodation, transportation, and meal expenses will be covered.


Uninsured Boat Coverage- As boat insurance is optional in a majority of states, this coverage will take effect when property damage and or injuries occur due to an accident caused by an uninsured boater.