What is Hull & Yacht Insurance?
Hull and yacht insurance covers damage to vessels caused by sinking, stranding, collision, fire, theft and heavy weather, as well as liability for damage caused to third parties.
Commercial boats, charter yachts and company-owned vessels are both high-value assets and potential sources of damage to third parties. The right insurance should protect the hull and machinery as well as cover liability risks.
The policy is arranged according to vessel type, age, value, navigation area and purpose of use (private, charter, commercial). Winter lay-up and periods ashore can also be included.
What is covered?
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Hull and machinery
Damage to the hull and machinery from sinking, stranding, collision and fire.
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Theft
Theft of the vessel or its equipment.
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Heavy weather
Damage from storms and heavy seas.
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Third-party liability
Damage caused to other vessels, piers and persons.
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Salvage and wreck removal
Salvage costs and wreck removal where legally required.
Optional extensions
- Personal accident (crew and guests)
- Charter use
- Personal effects and equipment
- Racing cover
- Land transport on a trailer
Who is it for?
- Commercial boat and charter yacht operators
- Companies owning yachts or boats
- Marinas and tourism businesses
- Owners of fishing and service boats
Information needed for a quote
Sharing the following information lets us obtain fast and accurate quotes from several insurers.
- Boat/yacht registration and technical specifications
- Year of build, length and value
- Navigation area and purpose of use
- Mooring (marina) details
- Skipper/user qualifications
Frequently asked questions
Does yacht insurance cover the lay-up period ashore?
Yes. The policy can be arranged to cover damage occurring while the yacht is laid up ashore or in a boatyard during winter.
Do charter yachts need a different policy?
Charter use carries higher risk, so it must be stated explicitly in the policy with appropriate cover and premium.
Does the navigation area affect the premium?
Yes. Turkish territorial waters, the Mediterranean or wider navigation areas carry different risk levels and directly affect cover terms and premium.
Scope of cover and limits are determined by the general and special conditions of the issuing insurer.