Which insurances must be taken out when buying a yacht?

Even if it seems logical to take out insurance for a boat or a yacht, it is important to underline that in the case of a yacht, it is almost essential. Because no matter how big or small, there is no such thing as zero risk and every yacht can be damaged. You can go yachting in the Mediterranean and have a collision. To repair the damage, which can sometimes amount to astronomical sums, it is therefore wiser to take out insurance. Find out which one to choose and especially how to find the one that will be the most advantageous for you and your luxury yacht.

Photo of a yacht.

https://www.pexels.com/fr-fr/photo/yachts-amarres-au-port-559878/

Which insurance should I choose ?

Although it is not mandatory, it is strongly recommended that people who buy a yacht take out yacht insurance. It will allow you to cover any claims should you have one. Whether it’s a grounding or an engine failure, which can be very costly, the insurance is there for you.

In addition, in most ports and security companies you will be asked for a certificate of yacht insurance before granting a mooring place, which makes yacht insurance indispensable.

How to choose it ?

The easiest way to find the most attractive insurance for your yacht is to use a broker who will analyze the rates, benefits and level of coverage for you. You will then have access to a tailor-made coverage that will meet all your needs. That’s less work for you and more fun.

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