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The marine insurance leader for over 45 years.

Find a Markel marine agent and get a free, no-obligation quote today.

If you love your yacht, you’ll love our insurance.

We’ve been the yacht insurance leader for over 45 years because we provide coverages that fit your yacht and your lifestyle. Markel yacht insurance can offer distinct advantages in coverage features, options, knowledge and experience.

Why do you need yacht insurance?

Whether you own a yacht or a houseboat, we understand it’s not a typical boat and shouldn’t be covered by a typical boat insurance policy. That’s where we come in—each Markel yacht insurance policy can be customized to fit your yacht, your needs, your budget and your style.

Still not sure?

Here’s a few of the potential advantages to insuring your yacht with us:

More complete coverage than any other carrier at no additional cost.

Experienced yacht underwriters and marine claims specialists who provide prompt, responsive service.

Discounts and cost-effective coverage options to save you money.

Flexible payment options.

Save money by customizing your yacht insurance

Actual cash value coverage (ACV)
Reduce your coverage to ACV, which factors in depreciation of your yacht should you have to file a claim.

Lay-up option
We’ll discount your yacht insurance premium during the winter months when your yacht is not in use.

Higher deductibles
If you can manage minor repairs to your boat on your own, selecting a higher deductible will reduce your premium.

Windstorm exclusion
Live in an area that isn’t at risk for a hurricane? You may consider removing windstorm coverage from your policy.

Liability only
Coverage in case you damage another yacht and/or person (doesn’t require a survey—even for older boats).

What we offer

We offer coverage for a variety of watercrafts over 26 feet in length, including:

  • Yacht
  • Sailboat
  • Sport fishing boat
  • Trawler
  • House boat

Our coverages can include:

Hull and equipment insurance protection including:

  • Protect and recover can cover reasonable costs incurred when trying to protect your yacht from further damage after an accident
  • Consequential damage for non-wood yachts–normal wear and tear and deterioration is not typically covered under a yacht insurance policy. However, if your yacht suffers damage from fire, explosion, sinking or collision because of one of these conditions, you may be protected
  • Ice and freezing damage coverage if you contracted with a commercial marina or repair facility
  • Agreed value for total loss
  • Deductible waived on most total losses
  • No depreciation on most partial losses
  • Automatic tender coverage

Windstorm extra expense
If there is a named storm, watch or warning, we will share the expense with you to help protect your yacht before the storm makes landfall.

Personal effects coverage
For all the “extras” you physically bring onto your yacht. (i.e., smart phone, camera, etc.)

Emergency towing and assistance
Coverage for towing expenses if your yacht happens to get stuck in or out of the water, including the delivery of gas, oil and parts.

Rental reimbursement coverage
Coverage for when your yacht is being repaired from a covered loss.

Uninsured boater
Unfortunately, not all boaters on the water have insurance. This coverage helps protect you and your family members if you are injured in an accident caused by an uninsured boater. Coverage is automatically included if watercraft liability is purchased.

Pollution liability
Pollution coverage helps protects you if you are held legally liable due to an oil pollution leak or spill.

Medical payments
Coverage for injuries suffered during an accident on your yacht.

Paid crew (Jones Act)
Protection for you if you are legally responsible for injuries to a paid captain or crew member while on your yacht.

Protection and indemnity
Coverage in the event that you are responsible for injuries to another person, or damage to their boat or property. Wreck removal is included with purchase of hull coverage.

  • Boat trailer coverage
  • Boat lift and boat house coverage
  • Fishing tournament reimbursement for fishing boats
  • Fishing equipment protection
  • Transit and storage coverage
  • Trip coverage
  • Trip interruption reimbursement
  • Personal liability coverage if you live aboard your yacht
  • Frequently asked questions about yacht insurance

    • General questions

      How much coverage do I need?
      Each boat, person, location and situation is different. There isn't a good way to give a "ballpark" figure for how much coverage you need. It’s best to evaluate your comfortable level of risk when protecting your boat, assets and passengers. Your best option is to call our boat specialists at +1.800.236.2453 to discuss the best coverage for you.

      Can I insure my yacht for liability only?
      Yes, we offer protection and indemnity (liability only) coverage to help protect you in case you are responsible for injuries to another person or damage to another boat or property. Many carriers do not offer liability-only policies for yachts, or if they do, require a survey. However, Markel’s protection and indemnity coverage does not require a survey, so you’re able to do what you love without worries out on the water.

      Will my policy cover normal wear and tear of my yacht?
      Most insurance policies will not cover normal wear and tear of your yacht and the deterioration or the resulting damage. However, if your yacht is damaged from fire, explosion, sinking, collision or stranding, you may be protected under our consequential damage coverage.

      Can I use my yacht for chartering?
      We know that sometimes yacht owners charter their yacht for sightseeing tours or even sport fishing to help offset some of the costs of owning a yacht. Markel offers an optional limited charter coverage for these situations provided the captain of the watercraft has a minimum of 2 years loss-free experience of yachting. Additional restrictions may apply.

      I live on my yacht. Am I covered?
      Markel provides live aboard coverage. Be sure to disclose that you live aboard to your agent.

      My yacht is in a corporation's name. Can I still insure it with Markel?
      Our yacht insurance policy can cover corporately titled boats for both personal use and client entertainment. We do require all corporately titled boats designate a designee of the watercraft. Contact your agent to learn more.

      Do I need to insure my yacht in the winter?
      It may seem that since you don't use your yacht in the winter you don't need to insure it. This is a risky way of looking at insurance and one that we have seen cost far too many people far too much money. Your yacht is at risk for damages at all times of the year, not only when it's on the water. For example, if your yacht is placed in storage for the winter and is damaged, you will not have any assistance in paying for those repairs without an active insurance policy.

      Do you cover unique boats?
      We offer coverage for various kinds of boats that other insurers may shy away from, including: high performance boats, airboats, hovercraft, etc. Not sure if your watercraft will be covered? Give us a call at +1.800.236.2453 to speak with one of our marine insurance specialists.

      What kind of fishing equipment is covered?
      Your rods, reels and tackle are automatically covered under your personal effects coverage up to the limit purchased. If that coverage isn't sufficient, our fishing equipment coverage provides insurance protection at replacement cost. Please contact one of our marine insurance specialists at +1.800.236.2453 to find out more.

    • Claims questions

      How do I file a claim?
      We understand that no one wants to file a claim. That's why we do everything we can to make the process as painless as possible. You can report your yacht insurance claim by calling our office at +1.800.236.2453 or submit your claim online and we'll take it from there.

      How long will it take for my claim to be processed?
      We are committed to investigating, evaluating and resolving marine insurance claims in a timely manner.

      Is there anything I can do to help speed up the claim process?
      Yes, you can help streamline the claims and settlement process and avoid delays by providing the following information when you file your claim:

      • Policy number
      • Date, time and location of loss or damage
      • Description of loss or damage
      • Digital photos (if possible)
      • Phone number to reach you

The marine insurance leader for over 45 years.

Find a Markel marine agent and get a free, no-obligation quote today.

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