Risk Assessment

Asking the right insurance questions

When evaluating your yacht insurance coverage, you may want to consider some of the following questions:

Do you have options that meet your specific needs when it comes to both your hull and machinery deductible and P&I (liability) levels?

All owners, especially those with larger, more complicated vessels, have different needs and requirements for yacht coverage. A good insurance carrier provides options to allow you the flexibility to structure the coverage to suit your risk appetite, be it with higher hull and machinery deductibles or a higher level of liability coverage.

Can you tailor your cruising limits to match your itinerary?

Where you cruise with your yacht should be your choice. Your insurance carrier should be able to offer you the navigation you need to match your itinerary without significant increases in premium or deductibles.

Is your insurance carrier familiar with yachts in hurricane-prone areas? In the event of severe weather, can they provide recommendations for safe harbors and facilities to assist in protecting your yacht?

Hurricanes and other forces of nature are a concern to all yacht owners. Knowing that you have a resource to assist you in guiding your yacht to a safe haven is something that all sailors need. We have a broad network of shipyards and marinas that we can steer you to during severe weather.

Do you have paid crew on your yacht? If so, are you properly covered for crew issues?

Crew members often are on your yacht more than you are. It's important to know that you are properly covered for crew claims both in U.S. and international waters. The worst time to find out that you are inadequately protected is in the face of a possible crew claim.

Does your insurance carrier have support staff with expertise in yachts?

Determining what coverage is right for your yacht can be a complicated issue due to the complexity of yacht insurance. A specialized yacht underwriter will work with you and your independent insurance advisor to structure a program that covers your yacht and crew members in a way that is unique to your needs. In the unfortunate event of a claim, our yacht claims representatives offer unparalleled support to get you back on the water as soon as possible.