Yacht Insurance: The Two Types

yacht insurance newport beach

Yacht Insurance: The Two Types

Yacht insurance policies offer coverage for pleasure boats. These policies might offer coverages such as liability, damage or bodily injury, as well as damage to boats and personal property. Your coverage and perks depends on the provider itself. Here is what you need to know about yacht insurance Newport Beach residents need.

What Is Yacht Insurance?

Yacht insurance is a specialized coverage for yachts. Sometimes this includes classic or antique boats also. Generally, yachts are boats that are over 26 feet long. The yacht coverage tends to be specialized because there are more risks involved in owning a yacht.

Hull Insurance

Hull insurance covers damage. This policy might include replacement cost and partial losses. The only components that aren’t usually covered are those items that will depreciate over time. For instant, batteries and sails may not be under your coverage.

Protection and Indemnity Insurance

This is a broad liability coverage. This type of coverage helps you when it comes to legal matters. Maritime law is unique and you have to be prepared for that. This will help you with your defense or pay judgments against you.

When it comes to yacht insurance Newport Beach residents should trust in, most choose extensive coverage. To pay for any damages, particularly for a yacht, can completely break the bank. It’s important to trust in an insurance policy that will give you peace of mind.