Yachtsure: Yacht Insurance
What Millstream Do
The specialist team offers a range of hull and associated covers for higher value craft. Millstream have two products in this specialty class: Yachtsure and Yachtsure24. Their policies include cover for:
- Crew personal accident and yacht owners’ liability to crew
- Liabilities including Protection and Indemnity (P&I)
- Physical damage
- War
What you should look for in different insurers
Finding the right insurance is crucial, but how do you find it?
Starting off with getting a variety of quotes, and then choosing an insurer that you trust is a good first step. An insurance policy is a two way relationship, and relies on trust in each other.
Coverage
Good insurers will earn their reputation on the back of providing good coverage and looking after their existing customers when it comes down to claims.
Reputation
Reputation is hard to build up, but easy to lose in an instance. Insurers will care about what you and your fellow boat owners think about them, and therefore will work hard to make sure they have a product that meets your needs.
Key Features
- Market-leading underwriting and claims expertisie – Millstream quickly understand and respond to owner’s specific requirements.
- Coverage to comply with the owner’s obligations under The Merchant Shipping Act or for European flagged yachts on a similar basis.
- Limits of up to £5,000,000 and 10,000,000
- A worldwide network of specialist surveyors, adjusters and lawyers.
Racing?
Where Can I get yacht insurance that covers racing events?
Finding an insurer that will cover you for occasionally racing your boat is easy. However there are only a small number of specialist insurers who offer cover to out and out racing yachts. Millstream is one of those specialist insurers, who insure inshore and offshore racing yachts, particularly the higher risk racing yachts that are participating in specific campaigns, regattas, transatlantic or global events. Their Racecover facility is tailored for racing yachts with no minimum value requirements.
Millstream provides coverage for the physical damage, liability and war risks with extensions for loss of mast, spars and rigging, two-handed or single-handed sailing.
Important considerations:
Do I need to get my carbon mast inspected?
What is the deductible, and are there any New for Old deductions?
What kind of racing is covered? Any night time restrictions?
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STEP 2
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STEP 2
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learn about other insurers who support us on our panel
Millstream is just one of many quality insurers we work with. Getting a quote for your vessel is the easiest way to see what other insurers we work with, and what they would quote to insure your boat.
Yacht News
Have a read through our latest articles, where we look to provide tips on looking after your yacht, news that affects the industry, and ways to get great yacht insurance policies.
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