As the owner of a yacht, you want to be able to enjoy your boat, not worry about things going wrong and having to pay for costly damages. Unfortunately, every time you take your yacht out on the water, there is a possibility that something could go wrong. This is where yacht insurance comes in.
Why Do You Need Yacht Insurance?
Owning any boat comes with a certain amount of risk. It is important to be prepared so you don’t have to cover damages out of pocket. This is especially true for yacht owners. If your watercraft is over 26 feet in length, there are plenty of premium options available for insurance. Your yacht isn’t a typical boat and should be treated as such. Yacht insurance generally comes with customized treatment that meets your specific needs.
What is Covered By Yacht Insurance?
Yacht insurance provides a broad net of coverage that protects you in a variety of scenarios. If your boat is damaged by fire, explosion, collision, or sinking, you will be covered. If your boat needs to be upgraded in a way that prevents further damage, you are covered. You will also likely have emergency towing and assistance services available to you. Most yacht owners bring expensive personal items onto their watercraft so you can obtain personal effects coverage to protect your belongings.
Owning a yacht can be a blast but does come with a certain amount of risk. Having yacht insurance can make all the difference.