Yacht Insurance Details

This yacht program is not available in all states. Our boat program can be modified to cover a yacht in other states.

Optional coverage

Prior insurance – 15% if no lapse in coverage, 10% if less than a 30-day lapse

Loss free renewal – 5% on first renewal, 10% on successive years

Experience – We will adjust the rate to reflect your boating experience.

Diesel fuel engine – 5%

 

Included coverage

Crafts of this size and value are best protected with physical damage protection for the hull, comprehensive coverage for other kinds of damage or loss, plus liability coverage. Where appropriate, a liability only policy can be written.

Three loss settlement options

  • Agreed value – The policy specifies a specific value for the vessel that will be paid in the event of a total loss or theft.
  • Replacement cost – The lost craft will be replaced with the same or comparable model. Boats up to 3 years old are eligible for this option.
  • Market value – Total losses are settled for the market value (actual cash value), which includes

Personal effects and fishing gear – Up to $10,000 in coverage for personal effects and fishing gear.

Emergency assistance – Up to $2,500 to reimburse emergency assistance and towing, and up to $10,000 for search and rescue.

Travel loss reimbursement – Up to $1,000 per day ($10,000 per term max.) plus lodging and transportation.

Under or uninsured watercraft – If you have an accident with someone with little or no insurance, we keep you covered.

Using other watercraft – Your liability protection extends to the use or rental of another boat.

Longshore and Harbor Workers Compensation Act – The act requires that you pay for any medical expenses if a part-time captain or crew member employed by you is injured while working on, servicing, or supplying your vessel. This policy provision meets your legal obligations.

 

Optional coverage

Diminishing deductible

Extended replacement cost for parts – For a partial loss, depreciation is not factored into a settlement for parts less than 10 years of age.

 

Flexible payment

Automate monthly installments with EZPay, or pay by check or credit card, either in full or in two payments.

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