Buying a yacht is an investment,
and you’ll want to protect that investment. We’re here to help you protect your investment. Insuring your yacht is one of the most important things to do after buying. Thus you will be protected from the unexpected. Whether you’re purchasing an older motor yacht, a modern express cruiser, a sportfish or even a sailboat, we will help you locate the right insurance policy. Much like yachts, there is a large variety of insurance types. We will help find the right one for you.
Buying yacht insurance can be more complicated than buying other types of insurance, and our international yacht brokers have expertise in turning the fine print into words that make sense to your needs.
Insurance requirements can vary depending on where you register and operate your yacht, and depending on whether you use it privately or for charter.
At FYI, we ensure that you are completely covered for all the usage scenarios in your plan, whether you are buying a new yacht, a pre-owned yacht for sale, a large motor yacht, a midrange pleasure yacht, or a sports fishing yacht.
Share with us a few details, and we will give you complete peace of mind through appropriate insurance.
Call us at 305-330-1831 for more details and to help you get insurance quotes.
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Here is a quick overview on the basics:
- Insurance will cover you in the event of loss or damage to your boat.
- Compensation amount depends upon deductibles, claims, limits & whether the insurance covers the actual cash value of your asset.
- Pricing will vary due to a multitude of factors including: state you live in, boating area covered, type of yacht, experience as a skipper and size of yacht amongst others.
- Yacht insurance may be required by law, some marinas may also require it for docking or other reasons.
- Most insurance professionals recommend at least $1,000,000 in liability insurance.
- Depending upon your policy, insurance may cover passengers, hurricane damage, theft or other major component damages.
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