01 / Yacht insurance
Where can I get yacht insurance?
A marine specialist can explain which insurers will consider the actual vessel and intended use. Check the professional’s licence in the relevant jurisdiction, ask which markets they can approach and get clarity about their role. A directory listing or an insurer’s public product page does not establish that your yacht qualifies.
Keep three locations separate: the owner’s residence, the yacht’s registration and the waters where it will operate. For an owner in Canada with a boat kept elsewhere, a postcode alone will not describe the risk. Write the planned route and season in ordinary language before discussing territorial cover.
Questions to take with you
- Who will provide the advice, and where are they licensed?
- Does the proposed policy cover the full itinerary, including transit and storage?
- Who confirms changes if the itinerary moves beyond the agreed waters?
02 / Yacht insurance
Separate the hull from the responsibilities.
Hull and machinery, liability, medical expenses, emergency assistance and personal equipment are separate subjects to review. Ask how each appears in the schedule, with what limit, deductible and exclusions. Tenders, water toys and equipment should be named in the conversation rather than assumed to follow the main vessel.
The US Chubb yacht product illustrates several of these sections. It is an example of one insurer’s wording and market, not a universal coverage checklist or a statement that Broker.insure represents that insurer. Read the actual documents offered for your yacht.
Source context: Chubb — US yacht insurance. US product example, not an offer through Broker.insure.
Questions to take with you
- How are pollution, salvage and wreck-removal costs treated?
- Are a tender, outboard and equipment included, separately scheduled or excluded?
- Do marina contracts require particular liability terms or an additional insured?
Bring the facts together. Ask a licensed professional to confirm the insurance response.
03 / Yacht insurance
Ask what “value” means at claim time.
An agreed hull value and an actual-cash-value basis can produce different settlements. BoatUS describes these as distinct options in its US program. Do not stop at the amount on the front page: ask how the wording handles a total loss, a repair, depreciation and the deductible.
Prepare the proposed amount with its currency and the basis for it. A purchase agreement, recent valuation or survey may help the professional ask the next question. Keep the vessel price separate from a wish list of refit costs and accessories. No percentage-of-value premium estimate is provided here; it would conceal too many differences between vessels.
Source context: BoatUS — coverage types. US examples of agreed value, actual cash value and optional cover.
Questions to take with you
- Is the hull insured on agreed value, actual cash value or another basis?
- How are partial repairs and machinery depreciation handled?
- What evidence supports the amount and currency on the schedule?
04 / Yacht insurance
Private pleasure, paid charter and crew change the discussion.
Tell the professional about paid passengers, charter management, racing, deliveries and hired crew before using the boat that way. Ask for the proposed use to be confirmed in writing. A policy described as private pleasure should not be treated as permission for a commercial operation.
The difference between published US and UK Chubb yacht products is a useful reminder that a familiar brand does not imply identical appetite in every country. Size, vessel type, crew and value criteria can differ. An online form must leave room for “not known” and for a specialist to check the actual operation.
Source context: Chubb — UK private yacht insurance. UK product example; demonstrates that underwriting appetite varies by market.
Questions to take with you
- Who is allowed to operate the yacht, and what experience is required?
- Are captain and crew liabilities addressed, and under which jurisdiction?
- Would paid use, racing or a delivery trip require different cover?
Before anything changes
New waters? New use? Ask before departure.
Write down what will change, when it starts and who will operate the yacht. Confirm the offered terms with the marine professional.
05 / Yacht insurance
A cruising season has a before and an after.
Record normal berth, winter storage and the intended cruising area with dates. BoatUS identifies use, storage, experience and vessel characteristics among rating considerations in its US program. These are practical preparation fields; they do not calculate a quote or establish acceptance.
Bring a plan for maintenance, survey recommendations and weather preparation to the conversation. Ask whether lay-up, movement, haul-out or named-storm requirements apply to the offered policy. If a requirement exists, establish who will do it and how completion should be recorded. Do not rely on a generic hurricane checklist to interpret a specific insurance condition.
Source context: BoatUS — boat insurance questions. US boating program; use, storage, experience and cruising questions.
Questions to take with you
- What must happen before the boat leaves its current mooring?
- Are there seasonal, lay-up or storm-related conditions?
- Which survey recommendations must be completed, by whom and by when?
06 / Yacht insurance
Three boats. Three useful starting briefs.
Coastal weekends: an owner-operated sailing yacht used privately from a BC marina. Start with the home port, intended waters, storage and vessel details. Ask about the marina contract and the existing survey. A coastal plan should still describe how far the owner intends to travel.
A winter passage: an owner plans to move a yacht from one country to another for a season. Put the passage dates, stopovers, delivery arrangements and final berth in the brief. Ask about the route before departure; “worldwide” in a conversation is not a substitute for written territorial terms.
A crewed charter yacht: an owner wants occasional paid charters as well as personal use. Start with the proposed charter operation, professional crew, jurisdiction and management arrangement. The first task is establishing the correct type of specialist conversation, not completing a private-use quote form.
Questions to take with you
- Which of these is closest to your intended use?
- What is still unknown that a marine professional needs to resolve?