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When purchasing a yacht insurance policy, there are several key factors to consider to ensure that you are adequately covered. Some of the key things to look out for in a yacht insurance policy include:

 

 

Coverage for damage to the yacht

Make sure the policy covers damage to the yacht caused by events such as storms, collisions, and groundings.

 

Medical coverage

Take sure the policy includes coverage for medical expenses in case of an accident or injury on board.

 

 

Liability coverage

Make sure the policy includes liability coverage in case you are sued for damages or injuries caused by your yacht.

 

Towing and salvage coverage

Make sure the policy includes coverage for towing and salvage expenses in case your yacht becomes disabled and needs to be towed or salvaged.

 

 

 

Personal effects coverage

Make sure the policy includes coverage for personal effects such as clothing, electronics, and jewelry, in case they are lost or stolen while on board.

Unforeseen events

Some policies include coverage for unforeseen events such as war, terrorism, and hi-jacking, which can give you peace of mind.

Additional coverage options

Some policies may offer additional coverage options such as coverage for racing, coverage for crew members, and coverage for damage caused by wild animals.

Exclusions

Be aware of what is not covered by the policy, such as wear and tear, pre-existing conditions and damages caused by intentional acts.

 

 

Cost

Compare the cost of different policies and make sure you are getting the best coverage for your money.

 

Reputation of the insurer

Make sure the insurer has a good reputation and has experience in dealing with yachting claims.

By considering these factors, you can help ensure that you have the right coverage in place to protect your yacht and your financial interests. Remember to always read the policy carefully and ask for clarification on any points that are unclear.

 

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