With today's complex policies and fluctuating markets we highly recommend choosing an insurer that specializes in the marine industry. There are currently no state or federal laws that absolutely require a boat owner to have insurance on their vessel. That said, if you have a loan that is using the yacht as collateral, the bank will require insurance coverage listing them as a loss payee to cover their interest in your boat. Some states require that you carry liability coverage and most marinas will require yacht insurance to keep your vessel at their location. Boat insurance can be added on to your existing home or auto insurance policies, but if you ever have to make a claim, you will appreciate a company that has the experience in the marine industry. There are a number of factors that decide how much your yacht insurance policy will cost. It depends on the type and age of the vessel, how experienced you are with it, how often it is used, the cruising areas and the level of coverage you decide to carry (among other things).
To get an insurance policy estimate, just fill out the form below. We will send your information to our partner company that has over 50 years of combined marine insurance expertise.