Mega Yacht Insurance Coverage

Anchor Marine Insurance Underwriters, Mega Yachts


Owners of large luxury yachts face unique and uncommon exposures, due to the nature of their vessels.

To meet the needs of these high-valued vessel owners within the marina, several companies offer mega yacht insurance policies that expand well beyond the standard yacht policy and offer sailing coverage’s and features designed to protect both the vessels and their owners.

The policies are often times tailored to each individual vessel and Anchor Marine has substantial experience in working with the various companies to craft policies that meet your specific needs and then helping you compare the various policies.

The following are coverage areas that are typically enhanced on these luxury yacht insurance policies.

Hull & Machinery Coverage

These luxurious policies will always provide very broad “all risk coverage” on the hull and its machinery. The following are some of the typical enhancements:

There are very few exclusions on these policies and some will even cover a manufacturer’s defect.

Most of these policies have very favorable depreciation terms including no depreciation on the machinery, personal property and tenders.

Favorable deductible terms - unlike a standard yacht policy these policies will often have a deductible of ½% of the hull value or less and some will waive the deductible completely for many losses.


These policies will offer very high liability limits, often equal to or greater than the vessel limit.

They will cover the insured’s liability for property damage, bodily injury or death or another person resulting from the ownership or use of the insured yacht.

Also covered are legal defense costs, the cost of wreck removal, and the owner’s liability to any paid crew, including Jones Act coverage.

Pollution coverage is also provided up to the liability limit.

In addition, most of these policies will pay the cost of your legal defense, above and beyond your liability limit.

Broad Navigation

Depending on the capabilities of you, your vessel and your crew, the companies will work with you on customizing broad navigation limits to suit your needs.

If desired this may include worldwide navigation.

Occasional Charter Coverage

Most of these policies will automatically provide coverage for the occasional charter of your vessel and many will reimburse you for your loss of charter income if your vessel is unusable due to a covered loss.

Other Coverage Enhancements

All of these policies contain many other coverage enhancements which are too numerous to list.

Anchor Marine will assist you in obtaining quotes and explaining in detail all of the coverage’s each company offers.