yacht insurance

yacht-insurance

Took me a couple of weeks shopping for yacht insurance before spring launch. The first thing I learned: a low premium often hides gaps in coverage. Look at whether the hull is insured at agreed value or ACV — on an ACV policy, depreciation eats your claim after a total loss. If the boat is older, expect the insurer to ask for a recent survey. Most of the confusion comes from the policy wording, so this helped me sort it out: yacht insurance — it covers the main policy terms without the sales talk. Also read the navigation limits carefully: going past the listed waters can leave you uncovered. On the East Coast and the Gulf, the named storm deductible is often a percentage of hull value, not a flat amount. Pay attention to liability limits — wreck removal and guest injuries can exceed the value of the boat itself. Compare two or three carriers and read the exclusions before you pay.