COVERAGE / MARINE
Yacht policy or boater's policy?
HINCKLEY 34 PICNIC BOAT / SOUTHWEST HARBOR, MAINE
The difference comes down to the size and value of the boat and what the owner actually needs covered.
THE LINE
Over 26 feet is generally written on a yacht policy. Under 26 feet is generally a boater's policy, covering motorboats, sailboats, personal watercraft and fishing boats.
UNDER 26 FEET
A boat or PWC can often be added to an existing homeowners policy as an endorsement, at additional cost. That is usually the cheapest route.
YACHT COVERAGE
Hull, liability, personal property aboard, crew coverage, and additions like fine art and navigation equipment.
BOATER'S COVERAGE
Liability, medical payments, personal property aboard, and in some cases towing and emergency assistance.
COST
Yacht runs higher, on higher values and higher risk. Boater's is more affordable with narrower options.
REQUIREMENTS
Not legally required for all watercraft in Florida, but marinas, yacht clubs and lenders often require it, and a financed boat almost always does.
Often not. It can usually go on your homeowners policy as an endorsement for an additional premium. Worth checking what that endorsement actually covers before assuming it is enough.
Crew coverage, higher hull values, and scheduled items like fine art and navigation electronics. It is built for vessels where a total loss is a serious number.
Not by the state for all watercraft. It is frequently required by marinas, yacht clubs and lenders, and it is recommended regardless because liability on the water is real.
Talk it through with Bridget.
561 220 5974