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

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

    A form of property insurance designed to protect an individual's ...
  6. Insurance Underwriter

    A financial professional that evaluates the risks of insuring ...
Related Articles
  1. Understanding Your Insurance Contract
    Insurance

    Understanding Your Insurance Contract

  2. 15 Insurance Policies You Don't Need
    Insurance

    15 Insurance Policies You Don't Need

  3. Top Tips For Cheaper, Better Car Insurance
    Options & Futures

    Top Tips For Cheaper, Better Car Insurance

  4. Do Drivers Really Need Gap Insurance?
    Insurance

    Do Drivers Really Need Gap Insurance?

comments powered by Disqus
Hot Definitions
  1. Halloween Massacre

    Canada's decision to tax all income trusts domiciled in Canada. In October 2006, Canada's minister of finance, Jim Flaherty, ...
  2. Zombies

    Companies that continue to operate even though they are insolvent or near bankruptcy. Zombies often become casualties to ...
  3. Witching Hour

    The last hour of stock trading between 3pm (when the bond market closes) and 4pm EST. Witching hour is typically controlled ...
  4. October Effect

    The theory that stocks tend to decline during the month of October. The October effect is considered mainly to be a psychological ...
  5. Repurchase Agreement - Repo

    A form of short-term borrowing for dealers in government securities.
  6. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
Trading Center