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.

BREAKING DOWN '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. Boat Owners' Insurance

    An insurance policy that provides coverage for individuals who ...
  2. Liability Insurance

    Any type of insurance policy that protects an individual or business ...
  3. Watercraft Insurance

    Insurance policies that provide coverage for boats and personal ...
  4. Indemnity Insurance

    An insurance policy that aims to protect business owners and ...
  5. Insurance

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

    Financial protection for a driver who, while operating a vehicle, ...
Related Articles
  1. Personal Finance

    Where To Get A Loan For A Boat Or Yacht

    If having a boat has always been your dream, here are the steps to take to finance it.
  2. Managing Wealth

    Reality-Test Your Yacht-Buying Fantasy

    In the market for a yacht? A look at the costs of models from small to super – and don't forget to add in maintenance and docking costs.
  3. Managing Wealth

    How Sharing a Yacht Works

    The dream of owning a yacht can turn into a nightmare when the high maintenance costs hit. Sharing a yacht cuts the bill and leaves many of the benefits.
  4. Managing Wealth

    4 Best Websites for Finding Yachts for Sale

    Not only will you see some gorgeous boats, you'll get a good idea of going prices, different types of yachts, and even financing and insurance options.
  5. Insurance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  6. Insurance

    12 Insurance Questions for High Net Worth Families

    High net worth families should ask themselves these 12 questions regarding comprehensive insurance.
  7. Investing

    Investing: How to Focus on What You Can Control

    There are plenty of distractions and concerns outside of our portfolios, but to win the investing race we must stay focused on what’s inside our boats.
  8. Insurance

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  9. Managing Wealth

    Five of the Best Yacht Clubs in Seattle

    Seattle doesn’t have a year-round sailing environment, but there are lots of opportunities for boating enthusiasts, from modestly priced to high-end clubs.
  10. Managing Wealth

    How Much Does a Super Yacht Cost – Really?

    Buying the vessel is just the beginning – then you have to pay for the crew, mooring and all those 'obligatory' toys....
RELATED FAQS
  1. What's the difference between casualty insurance and disability insurance?

    Casualty insurance is often called "property casualty insurance", and it provides insurance protection for your property ... Read Answer >>
  2. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  3. Can your insurance company cancel your policy without notice?

    Learn about your rights as an insured when it comes to your insurance policy being canceled, including how to access your ... Read Answer >>
  4. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
Hot Definitions
  1. Free Cash Flow - FCF

    A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents ...
  2. Leverage Ratio

    Any ratio used to calculate the financial leverage of a company to get an idea of the company's methods of financing or to ...
  3. Two And Twenty

    A type of compensation structure that hedge fund managers typically employ in which part of compensation is performance based. ...
  4. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  5. Expense Ratio

    A measure of what it costs an investment company to operate a mutual fund. An expense ratio is determined through an annual ...
  6. Mezzanine Financing

    A hybrid of debt and equity financing that is typically used to finance the expansion of existing companies. Mezzanine financing ...
Trading Center