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Yacht Insurance

All inclusive risk protection for your watercraft


Customer Satisfaction

We have partnered with Pantaenius, a leading yacht insurance worldwide provider, to bring you most comprehensive protection and service 

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What is Yacht Insurance?

A Yacht at Sea

Yacht insurance is generally broken down into three parts: hull insurance, third party liability, and personal accident insurance. Through Pantaenius, we generally offer a comprehensive insurance solution which includes hull insurance, liability/protection and indemnity insurance, crew welfare as well as pre-delivery and builder's risk insurance for new builds and major refits.

Yacht insurance is not mandatory. However, if you have a loan using the yacht as collateral the bank will require insurance listing them as a loss payee to cover their interest in your yacht. Sometimes, if you do not provide insurance for your financed vessel, lenders will “force place” insurance that is often prohibitively expensive. A marine insurance policy purchased through PeoplesAlly will cost significantly less while providing the coverage you require.

In addition, most marinas will require you to maintain at least liability insurance in order to keep your boat at their facility.

Boat versus Yacht Insurance, What's The Difference?

Boats: A boat is generally defined as a vessel under 26 feet in length. This can include speed boats, fishing boats (for recreational purposes) and classic or antique boats. Standard boat insurance policies can include physical damage coverage, liability coverage, personal property coverage and towing and assistance coverage. Many of the policies are yearly policies so there is no need to be concerned about your boat when it is moored or in a dry dock for the winter months. Boat insurance policies often include limits on navigational areas or be an agreed value policy which means you and the insurance carrier will agree upon a set value of worth for the boat before a policy is drafted. This may help recoup costs in the event the boat is lost or damaged beyond repair. A basic boat insurance may not include extra coverage for uninsured/underinsured boater coverage or coverage for fuel spills, but a yacht insurance policy may include those items. So, when insuring a boat, be sure to ask your agent about these coverages because most times, they can be added.

Yachts: A yacht is defined as a vessel over 26 feet in length and used for mostly personal or recreation purposes. Yacht insurance tends to be more inclusive than your standard boat insurance policy. Those extras that you may pay more for in boat policy, like fuel spill coverage, towing and additional personal property coverage, may be generally included in your yacht insurance policy. There are also custom coverage options that may be available just for yacht insurance. Custom coverages may include additional hurricane protection if you are sailing or docking in an area during hurricane season. It may also include an option to extend or create a custom navigation area as most standard boat insurance policies only offer coverage the extends 75 miles past the U.S., Canadian or Mexican coastline. If your yacht includes a dinghy, there is a coverage option for that as well, though it may be limited to anything under 16 feet in length.

What Are The Types of Yacht Insurance?

Yacht insurance comes in a wide variety of coverages and really depends on your specific needs. In general, there are hull, total loss, third party, personal accident, charter, and sea transportation insurance.

Yacht Deck

Hull Insurance

This type of insurance covers you for total loss and partial damage to your yacht. Normally, there is an agreed fixed insurance sum which will be reimbursed in the event of total loss.

Image by Luke Bender

Third Party Insurance

This insurance provides cover for damages that the owner, guests or crew have caused against a third party in conjunction with the use of the vessel.

Image by Oliver Sjöström

Personal Accident Insurance

This type of insurance covers financial repercussions from accidents resulting in death or permanent disability and includes the cost of search and rescue and accidents from watersports.

What Does Yacht Insurance Usually Cost?

The general rule of thumb when it comes to calculating average boat/yacht insurance prices is that you'll pay about 1.5% of the value of your boat in annual rates. To insure a yacht worth around $2,000,000, it would cost you about $30,000 per year to have it fully insured. Please keep in mind that these are general numbers and it depends on the type of risks that you are covering and the amount covered.

We specialize in offering popular insurance products for the new industry norm given the 2020 pandemic.

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We Are Insurance Experts

We have over 10,000 satisfied customers and 30+ years of insurance experience. We have seen it all and can get you the best package for your needs.

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Providing People with Protection Everywhere

PeoplesAlly is trusted by thousands of businesses no matter what size. We can help you meet your insurance needs in any industry or line of business.

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There are many kinds of insurance out there, but as an accounting & finance business owner, you have very unique needs. At PeoplesAlly, we’ll help you understand what kind of insurance is best for you. Just fill out a simple form online or speak with one of our licensed insurance experts to get a free quote. Plus, with PeoplesAlly, you can purchase a policy, manage it, and submit claims online for ultimate convenience.


“The PeoplesAlly team is extremely knowledgeable and will work hard to find you the best quality and price available. Very professional, no bait and switch, and will give you the bottom line even if it means losing you as a customer. I appreciate honesty rather than sleazy sales people.  

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