The open waters are calling, as you close the deal on a new, or new to you, yacht. Before your purchase is delivered and you hire crews, you want to be sure that you, your investment and others are protected.
Obtain the Right Insurance
Operating a leisure vessel of any size requires you to obtain, at minimum, liability and property coverage. Similar to motorized land vehicles, liability insurance protects you in the event that actions or accidents result in an injury to others, including your passengers, as well as damage to their property. Coverage also includes protections for accidents involving under- or uninsured boaters. Property insurance covers damage to your own boat from collisions and non-collision incidents. Supplementary policy inclusions can be added should they be required for:
- Roadside assistance and towing
- Fuel delivery and spills
- Rescue while out on the water and haul-out services
- Salvage and disposal
Retain the Services of a Broker
Navigating the waters of insurance options can be a rocky journey. Hiring the services of a yacht insurance broker makes the sailing go smoothly. These professionals understand the legalities and the industry. Their existing relationships with insurers provide leverage for negotiating coverages and costs, ensuring you get the coverage you need at a fair price.
Your new investment offers the freedom of the wide-open seas. Protecting you and your vessel from potential mishaps and accidents allows you to safely enjoy those open waters.