Yacht insurance coverages

All that technology, all that money just floating in the middle of the ocean. What could go wrong?

Whether you have a yacht, a sailboat, a sport fishing boat, a trawler, or a houseboat, if the watercraft is over 26 feet in length, Markel Specialty offers an extensive listing of coverages for you, your passengers, and your yacht.

Coverage for your boat

Hull and equipment protection including:

  • Broad navigation limits
  • Protect and recover pays reasonable costs incurred when trying to protect your yacht from further damage
  • Consequential damage for non-wood yachts -normal wear & tear and deterioration is not typically covered under a yacht insurance policy. However, if your yacht suffers damage from fire, explosion, sinking or collision, because of one of these conditions, you will be protected
  • Ice and freezing damage coverage
  • Agreed value for total loss
  • Deductible waived on most total losses
  • No depreciation on most partial losses
  • Automatic tender coverage

Windstorm extra expense
If there is a named storm, watch or warning, we will share the costs of protecting your yacht.

Personal effects coverage
For all of the “extras” (smart phone, camera, etc.) you bring on your yacht.

Emergency towing and assistance
Helps pay for towing expenses if your yacht happens to get stuck in or out of the water (including the delivery of gas, oil and parts!)

Rental reimbursement coverage
Coverage for when your insured yacht is in the shop being repaired.

Coverage for you

Uninsured boater
Protects you if an uninsured boat operator hits your yacht while in the water.

Pollution liability
Protects you if your yacht accidentally discharges into your favorite lake.

Medical payments
Pays for injuries suffered during a boating accident.

Paid crew (Jones Act)
Protects those that run and maintain your yacht.

Protection and indemnity
Protects you in case you are responsible for injuries to another person, or damage to their boat or their property. Wreck removal included with purchase of hull coverage.

Optional yacht insurance coverages

  • Boat trailer coverage
  • Boat lift and boat house coverage
  • Fishing tournament reimbursement for fishing boats
  • Fishing equipment protection
  • Transit and storage coverage
  • Trip coverage
  • Trip interruption reimbursement
  • Coverage for paid captain and crew
  • Personal liability coverage if you live aboard your yacht

Save money by customizing your yacht insurance

Actual cash value coverage (ACV)
Reduce your coverage to ACV, which factors in depreciation of your yacht should you have to file a claim.

Lay-up option
We’ll discount your yacht insurance premium during the winter months when your yacht is not in use.

Higher deductibles
If you can manage the minor repairs on your boat on your own, selecting a higher deductible will reduce your premium.

Windstorm exclusion
Live in an area that isn’t at risk for a hurricane? Remove windstorm coverage from your policy.

Liability only
Protection in case you damage another yacht and/or person (doesn’t require a survey – even for older boats).

Insurance, coverage, and discounts are subject to availability and qualifications and may not be available in all states. Coverage descriptions listed are intended to be brief and do not replace actual policy language. For questions or a complete definition of coverages and discounts available to you, please call a Markel Specialty insurance specialist at +1.866.936.1879.

Use of the term “member” or “membership” refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change.

USAA Insurance Agency means USAA Insurance Agency, Incorporated or USAA of Texas Insurance Agency (collectively the “Agency”). California License #0D78305, Texas License #7096. 9800 Fredericksburg Road, San Antonio, Texas 78288. The Agency contracts with insurance carriers that are not affiliated with USAA and offers products and services (“third-party insurance products”) on their behalf. Third-party insurance products are not underwritten by USAA or its affiliates. The Agency receives a commission on the sale or renewal of third-party insurance products and may receive other performance-based compensation from them. Purchase of third-party insurance products does not establish USAA membership. Product and coverage descriptions are brief. All coverages are subject to the terms and conditions of your policy. Read your policy for details. Product and coverage availability may vary in some locations and all applications for insurance are subject to underwriting by the insurance carrier. 258370 – 1221

Privacy policy | Cookie statement | © Markel Group Inc. All rights reserved 2023