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Yacht Insurance

ACE has been a leading provider of yacht insurance for decades, offering the most comprehensive policies available for both private pleasure and select charter usage. The Yachtsman® Policy provides unparalleled all-risk protection for a wide range of pleasure yachts 27 feet or greater in length and up to $5 million in value, including select occasional charter opportunities, along with many unique benefits and features that are unmatched in the marketplace.

Benefits

  • Personal yachts, corporate yachts or occasional charter vessels, which are 27’ in length or greater and with values up to $5 million, are all eligible.  Please see our Mega-Yacht Insurance page if your vessel has a value greater than $5 million.
  • A wide range of cost-saving, enhanced or tailored coverages are offered to fulfill your specific needs.  
  • Broad navigation limits are designed to meet each owner’s own cruising needs.

Coverage

  • Agreed Value Coverage – We pay the entire agreed amount, with no deductible, for a total loss.
  • Replacement Cost Loss Settlement – Repair or replacement of covered property is paid for without deduction for depreciation for most partial losses.
  • Liability Protection – Limits of coverage to suit your personal needs, including: legal defense costs, pollution clean up and containment coverage, wreck removal and Jones Act coverage for paid crew.
  • Medical Payments – Reasonable medical and related expenses are included for all those onboard, boarding or leaving the covered vessel.  These benefits are provided on a per person basis, rather than per occurrence.  Optional and customized limits are available.
  • Uninsured Boater Coverage – Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel.
  • Oil Pollution Act of 1990 (OPA) Coverage – If Liability coverage is purchased, our policy provides coverage in addition to the Liability limit up to the required OPA statutory limits, regardless of the Liability limit chosen.  Additionally, if the OPA statutory limit is increased in the future, our policy will automatically increase the applicable OPA limit to match the new higher statutory limits.
  • Marine Environmental Damage Coverage – Protection is automatically provided up to $10,000, per occurrence, for fines and penalties for marine environmental damage, as defined by the policy terms.  This coverage limit is in addition to the insured's applicable Liability and OPA limits.
  • Longshore and Harbor Workers’ Compensation Act (LHWCA) – When Liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the LHWCA.
  • Personal Property & Fishing Equipment Coverage – Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and their guests.  Optional higher limits are available.
  • Search & Rescue / Emergency Services Coverage – Expenses incurred by an insured in relation to a governmental unit such as the USCG that provide emergency aid and assistance are included for no additional charge, up to a $10,000 limit.
  • Towing & Assistance – Our policy includes this coverage with optional higher limits available.
  • Tender/Dinghy Coverage – We automatically include this protection, with optional limits and deductibles available.
  • Trailer Coverage – Optional protection is available with a low deductible.
  • Boat Show & Demonstration Coverage – We automatically provide this coverage, at no additional charge.
  • Automatic Coverage for Marinas as Additional Insured – Marinas, yacht clubs and similar facilities where insureds keep their vessels are included automatically as Additional Insureds.
  • Hurricane Haul-Out Coverage – Included automatically at no additional charge, insureds mooring in storm-prone areas are provided with coverage for haul-out and storage fees when necessary to protect an insured yacht during a named storm.

Partial Loss ACV Option

The Partial Loss Actual Cash Value Endorsement is a cost-saving alternative to meet the needs of boaters during these economically challenging times. This endorsement offers significant savings to those who want to protect their vessels fully with agreed value protection in the event of a total loss, but opt for an actual cash value (ACV) option for partial losses. Other details and benefits include:

  • Available for yachts more than ten years old
  • Provides Agreed Value coverage for Total Losses or Constructive Total Losses
  • Partial Losses may be subject to depreciation and settled on an Actual Cash Value basis
  • Substantially reduced cost to save you money

Paragon Yacht® End.

The Paragon Yacht® Endorsement is designed exclusively for finer, high quality vessels with hull values between $1 million and $5 million, and provides many additional benefits, including:

  • Electronic Navigation and Communications Equipment Coverage, with no deductible
  • Firearms Coverage
  • Rental Reimbursement Coverage
  • Passport and Proof of Identification Replacement Coverage
  • Bottom Inspection Coverage
  • Captain and Crew Liability Coverage
  • Personal Property Coverage for Crew
  • Moped, Motorbike and Motorcycle Coverage, while onboard and not in use
  • Unscheduled Fine Arts Coverage

Sport Fishing End.

Tournament sport fishermen who own higher valued vessels will be interested in our Tournament Sport Fishing Endorsement and its added benefits such as:

  • Increased Fishing Tackle Benefits
  • Expanded Coverage for Vessels with Full-Time Captains
  • Occasional Charter Coverage Available

Forms / Applications

Document Name Size Date
Yachtsman Coverage Highlights.pdf 112 KB 04/20/2011
Marine Insurance Application.doc 320 KB 02/07/2014