Cruising on luxury, mega, or a superyacht is the pinnacle experience of the yachting world. However, owning and managing these vessels needs to include an insurance program designed for your vessel and desired cruising range. Anchor Marine has the expertise to negotiate insurance programs for Luxury and Superyachts with coverage specifically designed to meet the owner’s needs and coverage for your crew.
Luxury yachts’ value typically ranges from $1 million to $50 million. Mega or superyachts can exceed this. One company may be able to provide all the coverage, or it may take several to put a program together. We encourage owners or yacht managers to set an appointment with us to discuss your needs.
Coverage for Luxury and Superyachts includes:
Hull & Machinery Coverage
Broad “all-risk coverage” is provided with few exclusions. These may even include the manufacturer’s defect. Policies have favorable depreciation terms and may not include depreciation on the machinery, personal property, and tenders. Deductibles are negotiable with insurance companies.
Liability limits need to at least equal the vessel’s value and need to cover the owner’s assets adequately. The coverage protects you from property damage, bodily injury, or death resulting from the ownership or use of the insured yacht. Also covered are legal defense costs, the cost of wreck removal, crew coverage, Jones Act, and pollution.
Navigation is available to let you navigate freely.
Occasional Charter Coverage
Insurance companies may provide coverage for occasional charter and reimbursement for your loss of charter income if your vessel is unusable due
to a covered loss.
Other Coverage Enhancements
Additional coverages are usually offered and negotiable with insurance companies.
Call 800-726-2728 to set an appointment.
IMPORTANT NOTE: This summary provides only a simplified description of insurance coverages in general and is not a statement of contract. For complete details of coverages, conditions, limits and losses not covered, be sure to read the actual policies, including all endorsements.