Insurance Coverage Types for Yachts

Owning a yacht can open the waterways of the world for luxurious and exciting adventures. However, these large vessels represent significant investments, and protecting your financial interests with the right insurance coverage is crucial.

Casey Insurance Brokers is proud to offer comprehensive guidance on the essential components of adequate coverage.

Key Insurance Coverage for Your Yacht

Your yacht insurance needs may vary depending on your unique circumstances, but in many cases, you may want to ensure you have the following coverages:

• Hull coverage—This type of insurance can cover physical damage to your yacht. This typically includes damage from collisions, storms, fire, theft and vandalism and may help cover damage sustained by the boat itself, as well as engines, electronics and other features.

• Liability coverage—Liability insurance can financially protect you if you’re held responsible for injuries or damage to others while operating your yacht. This can include medical expenses, legal fees and property damage.

• Personal property coverage—This part of your policy may cover personal belongings on your yacht, such as electronics, clothing and fishing gear. If these items are lost, stolen or damaged, personal property coverage can help pay to repair or replace them.

• Medical payments coverage—This coverage may help pay for medical expenses if you or your passengers are injured while on your yacht, regardless of who is at fault.

• Uninsured/underinsured boater coverage—This form of financial protection may offset your losses if you’re involved in an accident with another boater who doesn’t have sufficient insurance.

• Towing and assistance coverage—If your yacht breaks down or you need emergency assistance, towing and assistance coverage can help cover the costs of getting you back to shore or to a repair facility.

Yacht Insurance in Plantation, FL

Before setting sail, make sure you have the right insurance to protect yourself and your vessel financially. Contact Casey Insurance Brokers today to learn more about your options.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.