Small Boat Insurance FAQ

What is the best coverage for my boat?

It is best to have what is known as an “All Risk” policy, which will provide coverage for all types of losses except those specifically excluded in the policy. Typical exclusions may include wear and tear, gradual deterioration, marring, denting, scratching, animal damage, manufacturer’s defects, defects in design, and ice and freezing.

How much should I insure my boat for?

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What are the differences between boat and yacht insurance?

Generally “boats” are considered to be 26′ and smaller, and “yachts” are 27′ and larger. Generally speaking yacht coverage is broader and more specialized because larger boats travel further and have more unique exposures.
What should I look for in a yacht policy?

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I have a question on yacht club memberships and their usefulness to the
cruising sailor. I have talked to many sailors who are planning on cruising
who feel that a yacht club membership will be very useful because of the
reciprocal privileges. I have not talked to or read any information from
cruisers who have been out there and had found club memberships to be
advantageous.
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I am about to purchase a used sailboat (40+ feet). I would like some advice
on insurance companies. Care to share your experiences with any particular
company?

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Pantaenius Hull Insurance provides coverage in the case of actual total loss, constructive total loss and partial loss of the yacht. The conditions for a constructive total loss are given when the costs of repair exceed the agreed fixed value. The agreed fixed value – a value which is agreed upon between the owner and the insurer – is stipulated as a valuation (fixed valuation). The insurance protection covers the costs of salvage, wreck removal and disposal.

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The Right Insurer and the Best Policy

Did you know that the true yacht insurance policy is probably the most comprehensive insurance policy you will ever own. Today’s yacht insurance is a hybrid of coverage types and philosophies, which have been handed down from the very beginnings of insurance in England, in the sixteenth century.

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