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2 years ago · by · 0 comments

Types of Yacht Insurance Policies: Which is Right for You?

Yachts tend to be beautiful, elegant vessels that can provide people with a wonderful and classy way to enjoy the water. These vessels are appealing to the eye and tend to be larger than the average runabout. With larger vessels carrying more passengers, higher risks are inherent. This means that it is especially important for yacht owners to have proper yacht insurance policies for their specific exposures. Below are the two general classifications of yacht insurance policies as well as information on ancillary coverages.

Yacht Insurance Policies

Standard yacht insurance policies typically classify yachts that are over 27’ but less than $1,000,000 in value. Whether you use your yacht only during vacation periods a few weeks of the year or for extended cruising, Maritime Insurance International can help you find a great yacht insurance policy for your needs.

A general yacht insurance policy will cover third party liabilities, physical damage, personal property, medical expenses, pollution liability, wreck removal, and emergency towing to name a few. These policies are written for different vessel types such as private pleasure/weekend cruisers, limited six pack charters, long-range cruisers, great loopers, and liveaboards. Additional options that can be tailored to fit individual needs are Paid Crew, Broad Navigation, Dinghy/Tenders, Fishing Equipment, and Hurricane Haul-out reimbursement.

Yacht insurance through Maritime Insurance can cover vessels that cruise waters in and around the United States, Bermuda, the Bahamas, Turks and Caicos, Canada, Mexico, the Caribbean, Atlantic and Pacific crossings, Panama Canal crossings, Central and South America, and the Mediterranean.

Luxury Yacht Insurance Policies

This type of insurance is designed for yachts that are greater than $1,000,000 in value. Vessels of this size and quality represent an enormous investment and are higher targets for liability suits. That is why it is essential to have proper insurance coverage and adequate protection.

Luxury yacht insurance policies encompass similar coverage as standard yacht insurance policies; however, these likely warrant higher liability limits and more tailored ancillary coverages. We see vessels range from custom and semi-custom sport fishing yachts, trawlers, long-range cruisers, “down east” boats, sailboats, catamarans, yachts with a full-time captain, and yachts that are owner-operated. Additional options that can be tailored to fit individual vessel needs are Paid Crew, Broad Navigation, Dinghy/Tenders, Fishing Equipment, Hurricane Haul-out reimbursement, Fine Arts and Fire Arms, Marine Environmental Damage, etc.

A high quality luxury yacht insurance policy is essential to protect your luxury yacht from all of the hazards that are inherent on the high seas such as storms, collisions, unforeseen accidents, piracy, etc. Maritime Insurance International can help you find an ideal luxury yacht insurance policy fit for your individual needs.

Request a Yacht Insurance Quote Today

No matter whether you own a yacht, luxury yacht or mega-yacht, excellent insurance coverage is a must in order to protect yourself financially. Maritime Insurance International can get you a yacht insurance quote within 24-48 hours, and can help you find the best insurance options on the market.


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Company Information

Maritime Insurance International
3 Lockwood Drive
Suite 302A
Charleston, SC 29401

Mystic, CT Office:
P.O. Box 30
West Mystic, CT 06388-0030

Annapolis, MD Office:
P.O. Box 3505
Annapolis, MD 21403

Contact Details

Phone: 843.606.5270
Fax: 888.482.6844

Monday - Friday: 9:00am - 5:00pm


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Professional, & courteous every time we've spoken. I would highly recommend ​t​his agency for boat insurance.
Carol P.
Very helpful and easy to work with.
Kevin D.
Excellent and prompt service.
Bruce B.
Terrific custom service and extremely well informed.
Amy D.
Nick does a great job, very responsive service, good products.
Charles C.
Great people, prompt service and they know their policies.
Banff L.
Been with this company since 2011, had one claim and it was settled to my satisfaction very promptly, never had any type of problem. I would highly recommend them based on the service I have gotten from them.
Barry B.
Nick McGinty & his team are top notch. Friendly, responsive, knowledgeable...Recently had an issue that was resolved quickly. They insure both my vessels and highly recommend them.
Great service, great prices and flexible pay plans
Alan B.
Easy to do business with. Knowledgeable, and good price comparisons.
Lawrence L.
The personal service and contacts I have with Maritime Insurance make me appreciate their "product" so much more than just sending my premium to some P.O. Box! Good people standing behind their service! Sincerely, Ken Byrd Pres. Charleston Yacht Carpentry Inc.
Ken B.
I have just bought my first big boat! This is a process that requires people who know what needs to happen and helped me to get it done. Insurance is something that we hope never to need but offsetting the risk in a big purchase ...
Patrick M.
MII has been responsive, prompt in follow-up and competitive in cost quotes. Am pleased with their customer service and already have suggested to a colleague to pursue their services.
Dann L.
This company makes super yacht insurance look easy. Very knowledgeable on vessels over 400 GT and they never miss an email. On my size vessel, there is no reason to shop around. Its the relationship with your agent that is imperative and must be seamless.
Tess R.
Maritime's entire team has always been outstanding!
Rich M.
The Maritime office is excellent. Nicky and Angie always send reminders and are extremely friendly and helpful.
Nicholas H.
Maritime has always been very helpful and user friendly. We contact a lot via email and phone and always get a prompt response. Mahalo!
W. "Kainoa" H.
Maritime agent Garrison Rudisill has been great to work with. He was a tremendous help with our hurricane Matthew claim.
Donna P.
Garrison has been very responsive and was always available and helpful.
Frank H.
Angie Fessler at the Maritime office went above and beyond to find us a policy to fit our event schedule. She is a blessing and we will be using you guys again this year.
Susan & Chris L.
I've never had a problem with this insurance and the price was great as well. My local guy, Garrison Rudisill, always answers my questions and helps me with anything I need.
Shin M.
My experience has been very professional and pleasant. They provided me with what I needed.
David S.
Maritime Insurance was very helpful in insuring our first larger vessel. The staff are very knowledgeable!
Joe S.
Working with these folks has been a real pleasure. They are knowledgeable, friendly and responsive. Easy to do business with.
Normand & Paula R.
NICK'S a stand up guy. He explains your coverage in English not in insurance jargon. Very responsive and easily accessible by telephone and via email.
Clay W.
Since day one, they have been there for us and on one particular day we needed them the most, they were there. We enjoy our relationship with the Charleston Team.
Eric R.
I had a serious claim in 2015 while cruising in the Turks & Caicos islands and I got the very best of service even though I was in another country. They stood behind me while my boat was repaired. It doesn't get any better than ...
Paul M.
This is one of the most responsive, helpful companies I have ever felt with. My calls and questions have always been returned with faster than average turnaround. Extremely helpful. Have always met my expectations. I recommend Nick McGinty and this company to all my friends.
Eric B.
Maritime was right on top of my claim and was extremely helpful in participating in getting the correct documents and professionals to back up my claim. Excellent company!!
Steve W.
They helped me with my claim and they always try to get me the best quote highly recommend.
Steve P.
Nick McGinty and his team are top notch people who understand their customers needs and provide quality insurance products in an efficient timely manner.
David F.
They have exceeded all my expectations. We have multiple policies on several properties, prior to insuring through Maritime insurance this was a nightmare keeping track of things, with Nick and crew its a snap. Its like having a full time person on our staff just ...
Garrison R. has been fantastic to work with and is an asset to the company!
Tyler S.
Very knowledgeable staff who answered all my questions and the rates I received were far superior to anyone else's.
Brian N.
Very responsive, honest and customer service driven. I was surprisingly impressed and my expectations were exceeded.
Jim T.
Thank you Nick for ALWAYS being on the ball. You guys are great!
Thornton L.
I called insurance companies on a Friday to see who would be most helpful and responsive. Maritime Insurance was the ONLY company ready and willing to take information and prepare a quote. The customer service alone was worth using the company.
Andy D.
Fast prompt service, no hassles.
Bill B.
Great initial coverage policy and excellent follow-up skills for renewal...
Michael H.
Has an awareness of the struggles of a small marine service company.. Did a great job finding affordable policy for our specific needs. Great communication and stays on top of my account concerns.
William W.
Found you on internet. Nick McGintry and Nicky have exceeded my expectations. It's as great genuine and heart felt as the Four Seasons staff. And you were competitive.
Susan A.