Yacht Insurance

AAA

DEFINITION of 'Yacht Insurance '

An insurance policy that provides indemnity liability coverage on pleasure boats. Yacht insurance includes liability for bodily injury or damage to the property of others and damage to personal property on the boat. Depending on the insurance provider, this insurance could also include gas delivery, towing and assistance if your boat gets stranded.

INVESTOPEDIA EXPLAINS 'Yacht Insurance '

Some companies specialize in providing coverage for antique and classic boats. Policy holders can choose between an actual cash value or agreed value policy. Some policies include discounts based on a policy holders' boating education, boat safety features or whether they have a hybrid or electric boat. Some companies also offer a package deal where they decrease the rate on a yacht insurance policy if the holder purchases additional policies for their homes or automobiles.



RELATED TERMS
  1. Watercraft Nonowned Insurance

    A type of financial safeguard that covers marine vessels that ...
  2. Mortgage Insurance

    An insurance policy that protects a mortgage lender or title ...
  3. Umbrella Insurance Policy

    Extra liability insurance coverage that goes beyond the limits ...
  4. Insurance Underwriter

    A financial professional that evaluates the risks of insuring ...
  5. Insurance

    A contract (policy) in which an individual or entity receives ...
  6. Homeowners Insurance

    A form of property insurance designed to protect an individual's ...
Related Articles
  1. Insurance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  2. Insurance

    15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.
  3. Options & Futures

    Top Tips For Cheaper, Better Car Insurance

    Accident, theft, vandalism - make sure your coverage will protect you when you need it most.
  4. Insurance

    Is It Safe To Be Without Umbrella Insurance Today?

    At low cost, you can buy significant extra liability coverage in case you're sued due to an accident or other trouble. See it as bankruptcy protection.
  5. Insurance

    What Pet Insurance Actually Covers

    If you buy insurance for your pet, what will it cover – and what will you still have to pay for?
  6. Insurance

    Is Pet Insurance Worth The Price?

    Should you insure your pet? Here's how pet insurance works and how to decide if it's worth buying this coverage.
  7. Insurance

    How to Use a Waiver of Subrogation

    A waiver of subrogation means that a party to a contract waives the right to allow someone (usually an insurance company) to sue the other party to the contract in case of a loss.
  8. Insurance

    Does That Dental Insurance Have Cavities?

    Four key factors to check out before you just sign up for dental insurance. The coverage could be really worth it – or not.
  9. Insurance

    4 Smart Ways To Get Health Insurance In College

    These days, those attending college have plenty of ways to get affordable medical insurance, from student health plans to those sold on an exchange.
  10. Options & Futures

    Stock Safety: Top 3 Ways to Limit Your Losses

    First time stock investors may ask, is there any way to buy insurance on stocks to prevent losses?

You May Also Like

Hot Definitions
  1. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  2. Asset Class

    A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat ...
  4. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  5. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  6. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
Trading Center