Yacht insurance is an insurance policy that provides indemnity liability coverage for a sailing vessel. It includes liability coverage for bodily injury or damage to the property of others and damage to personal property on the vessel. Depending on the insurance provider, this insurance could also include gas delivery, towing, and assistance if your yacht gets stranded.
- Yacht insurance provides indemnity liability coverage for a sailing vessel.
- It has two principal parts: hull insurance and protection and indemnity (P&I) insurance.
- While there is no legal agreed upon length that separates a yacht from a pleasure boat, generally it is considered to be somewhere between 27 and 30 feet.
The cost of yacht insurance is influenced by several factors, including the type, size, and age of the yacht, the vessel’s value, your boating experience, where you’ll be navigating, and the coverage limits you choose. Higher risk factors, like operating in challenging waters, can also increase premiums.
Yacht insurance is broader and more specialized than pleasure boat coverage, due to the fact that a yacht can sail farther and thus runs greater risks.
