Burned a couple of weeks shopping for yacht insurance before the season. The first thing I learned: the cheapest quote usually hides gaps in coverage. Look at whether the hull is insured at agreed value or ACV — with ACV, depreciation eats your claim after a total loss. For an older hull, be ready for the insurer to ask for a recent survey. Most of the confusion comes from the policy language, so a good starting point is yacht insurance — it covers the main policy terms without the sales talk. Then check the navigation limits: going past the listed waters can leave you uncovered. In hurricane country, the named storm deductible is often a percentage of hull value, not a flat amount. Pay attention to liability limits — wreck removal and guest injuries can exceed the value of the boat itself. Compare two or three carriers and read the exclusions before you pay. |
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