BOATERS BLOG
As the “pleasure boating capital of the world,” Florida provides sailors, captains, and yacht owners approximately 2,276 miles of coastline to cruise, dive, fish, snorkel, and enjoy all sorts of watersports and activities. From Destin to Sarasota and the Florida Keys to Miami Beach, you are sure to come across the perfect location to set sail on your yacht. But before you motor off into the Gulf of Mexico or the Atlantic Ocean, be sure that you and your yacht are covered and protected with the finest yacht insurance. With such a fabulous watercraft, the experts here at the National Boat Owners Association are ready to connect you with real human people and exceed all of your yachting needs.
How Much Does Yacht Insurance Cost?
The cost of yacht insurance is highly dependable on a variety of variables, including the size of your yacht, where you go yachting, and what is included in your coverage. Similar to car insurance, yacht insurance can vary significantly in price and is tailored to your specific needs and desires. Being open, honest, and transparent with your insurance broker will guarantee that your budgetary needs are taken into consideration when comparing packages. This way, your insurance broker can find the best coverage out there for your yacht at a rate you feel most comfortable with.
What Can Your Yacht Insurance Cover? 
Since yachts are a much larger vessel than the average motorboat and consequently incur greater risks, most yacht insurance policies offer a broader range of liability coverage. Yacht insurance also works to protect you, along with crew members, captains, and permissive users from maritime law and the Jones Act. From offering a 3% deductible for hull damages to salvaging a yacht after severe damage and emergency towing to on-road coverage and quick responses, NBOA insurance brokers do everything possible to take care of you and your yacht. However, don’t forget to talk to your broker to ensure everything you need and desire is included in your insurance plan. This can include choosing an insurance plan that covers equipment and other tech on board as well as optimal storm and hurricane coverage.
What Is Not Covered by Yacht Insurance?
Although yacht policies work to protect you from maritime law etc., unlike some standard boat insurance policies that may include legal defense within the limit of liability, yacht policies may not. Many yacht policies also tend to exclude or restrict the mileage of trailering your yacht to other boating destinations. Be sure to connect with your broker to review everything your insurance plan will not cover so that you can be prepared! Knowledge is power, and you don’t want to assume full coverage if that is not the case.
Since 1984, NBOA has been America’s expert in securing the perfect boat insurance policies. Our insurance brokers are always ready to speak with you about your needs, concerns, budgets, and desires when protecting a valuable watercraft and the people on board. So, when it comes to finding yacht insurance, our number one piece of advice is simple… find a broker!
YACHT INSURANCE FAQ:
Q: Does yacht insurance require a Captain?
A: Insurance companies will provide coverage for your yacht even if you don’t have the minimum level of boating experience necessary to drive the vessel. In this case, you will be required to hire a captain each time you take your yacht out on the water.
Q: Is towing insurance needed in a yacht plan?
A: If your yacht insurance does not cover emergency towing, it is important to consider different policies that do include towing insurance. Many fees that you acquire from towing companies can quickly add up, making towing coverage extremely worthwhile. Another option is to become a member of NBOA and take advantage of our nationwide towing packages.