Let’s be real… you have a yacht, not a boat! Sure, they both float on the water, but your yacht has specific insurance needs that are not included in a standard boat insurance policy. Because your yacht in Florida has specific needs, we’re here to help.
Yacht Insurance in Florida
Yacht insurance can provide coverage for:
- Physical damage caused by colliding with an object such as a submerged log or colliding with another vessel
- Liability for causing bodily injury or damage to the property of others
- Personal property coverage for your items on the boat
- On-water towing and assistance if you become stranded if your boat breaks down or runs out of gas.
Many more options are offered for your yacht insurance. Call our insurance agency and ask to speak to a yacht insurance specialist.
Boat insurance typically is for vessels under 26 feet in length and can cover, through specific carriers, antique and classic runabouts – even those with a wood hull! Yacht insurance is for those vessels that are greater than 26 feet in length and offers more comprehensive coverage options.
Some other yacht insurance options can include:
- Agreed Value Coverage: An agreed upon value for your yacht. If it is destroyed and needs to be replaced, the insurance company will offer to pay the agreed upon value of your yacht.
- Uninsured Boater Coverage – Pays to cover you if involved in an accident with an uninsured boater. This coverage con cover bodily injury as well as property damages to your boat.
- Oil Pollution Coverage – Pays for the cleanup of damages caused to the oil spills. You can find more information on the Oil pollution act of 1990 here.
- Marine Environment Damage Coverage – Covers damages that may be caused to a marine environment in relation to a covered loss.
- Search and Rescue/ Emergency Services – Expenses incurred by a governmental organization such as the USCG who provides emergency services or search and rescue.
- Dinghy Coverage – Coverage for your dinghy in case it is damaged, destroyed or stolen.
- Hurricane Haul-Out Coverage – Includes mooring in storm-prone areas to provide protection for your boat during a hurricane.
Many more options are available for Yacht Insurance in Florida. Contact your licensed insurance agent and discuss what options may be best for your specific situation. Our agents are available to help you with boat insurance, business insurance and auto insurance anytime!
Types of Yachts covered by Yacht Insurance
- Day Sailing Yachts: Day sailing yachts are used primarily for recreational purposes and do not contain any sort of cabin. These yachts are meant for day-use and are typically, small, under 20 feet in length.
- Weekender Yachts: Weekender yachts are used primarily as a means to get away for short periods of time. These yachts tend to be around 30 feet in length and have only a small cabin with minimal sleeping quarters and prep space for a basic kitchen. Most weekender yachts are designed for usage during 2-3 day excursions.
- Cruising Yachts: Cruising yachts are the most common yacht in private use. Typically between 23 and 46 feet in length, the cruising yacht is a great balance of luxury, space and agility.
- Luxury Yachts: These yachts are typically 82 feet in length or larger. These giants on the water have luxury features including televisions, multiple sleeping quarters and often elaborate materials. Yachts in this category require a very specialized policy to ensure your investment is safe while both moored as well as at sail.