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Whether you own a yacht or a houseboat, we understand your watercraft isn’t a typical boat, and your insurance policy shouldn’t just be a typical boat policy. That’s where we come in. Each Markel Specialty yacht insurance policy can be customized to fit your yacht, your needs, your budget, and your style.
Here are just a few of the advantages of insuring your yacht with Markel Specialty:
Whether you have a yacht, sailboat, sport fishing boat, trawler, or houseboat, if the watercraft is over 26 feet in length, Markel Specialty offers an extensive listing of coverages for you, your passengers, and your yacht.Coverage for your yacht
Hull and equipment insurance protection including:
Windstorm extra expense
If there is a named storm, watch, or warning, we will share the costs of protecting your yacht.
Personal effects coverage
For all of the “extras” (smart phone, camera, etc.) you physically bring onto your yacht.
Emergency towing and assistance
Coverage for towing expenses if your yacht happens to get stuck in or out of the water, including the delivery of gas, oil, and parts.
Rental reimbursement coverage
Coverage for when your insured yacht is in the shop being repaired.
Coverage if an uninsured boat operator hits your yacht while in the water.
Coverage if your yacht accidentally discharges into your favorite lake.
Coverage for injuries suffered during a boating accident.
Paid crew (Jones Act)
Coverage for those who run and maintain your yacht.
Protection and indemnity
Coverage in the event that you are responsible for injuries to another person, or damage to their boat or property. Wreck removal is included with purchase of hull coverage.
Actual cash value coverage (ACV)
Reduce your coverage to ACV, which factors in depreciation of your yacht should you have to file a claim.
We’ll discount your yacht insurance premium during the winter months when your yacht is not in use.
If you can manage minor repairs to your boat on your own, selecting a higher deductible will reduce your premium.
Live in an area that isn’t at risk for a hurricane? You may consider removing windstorm coverage from your policy.
Coverage in case you damage another yacht and/or person (doesn’t require a survey–even for older boats).
Written by Markel Insurance