A boat yacht insurance plan is one of the best protection options that an owner can set-up for their latest sailing or motor-driven vessel. Easy to arrange with a great selection of insurance companies. Often packed with ways to protect what you care about, and available as either a general insurance plan for sailing, cruising or racing yachts, or a tailored or customized plan to suit a particular boat or class. In its most basic from, boat insurance covers against accidental damage, fire, theft and vandalism, and includes a third party liability section.

Most of the insurance schemes are offered as a package to suit the different vessel types, be it a yacht, motorboat, RIB, speed boat, jet ski, sailboat or small dinghy. It’s often possible to extend a policy to include such features as bareboat or skipper charter, hired life-rafts and to extend the commission period or widen the cruising grounds. Specialist yacht insurance plans are available through some brokers, and these can often feature schemes for racing boats.

These marine policies are often drafted by a specialist boat insurance underwriter, and a all-risks or comprehensive plan is found for almost all situations. If obtaining a quotation via a broker than the best insurance quote available in the market place is presented to the client. Generally, a quote is tailored to suit a boat owners needs – information such as the cruising range, commission period, mooring location, and insured value will all have a bearing on the eventual quotation.

A basic boat yacht insurance scheme would offer protection from physical damage, liability, and perils. Physical damage relates to the hull, machinery, sails, furniture, and almost all items on board that form part of the craft. Perils relate to malicious mischief, vandalism, and even latent defects in workmanship. As standard, the policy also comes with a liability section, and covers third-party damage to another property or person. Also, incidental medical coverage is often included for the crew on board should an accident take place.

In most cases obtaining an insurance quote is a simple case of completing a online form with the relevant details. Its just a case of entering information of the actual yacht to be insured, its engines, the intended moorings and craft use, overall values to be insured, and if there’s been any claims or losses in the past five years or so.

Policies can often be tailored to suit certain circumstances or cover requirements – such as employers liability, increased public liability, lower deductibles, waterborne activities, boat charter, content, machinery, ice and freezing, vessels under construction, lifting equipment, tools, and moulds.

Marine insurance covers a variety of fronts other than the protection of a recreational or pleasure craft, such as commercial boats, cargo, boat builders, marinas, boat clubs, boat brokerages and agents, boat yards, marine engineers, chandlers, naval architects, equipment manufacturers, sail makers, marine supplies, and marine surveyors.

All in all, boat yacht insurance is a necessity to ensure the peace of mind and safety that one aspires to when out at sea.

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