Yacht insurance
Yacht Insurance
cover for sailing and motor yachts, and the cruising area, value and rig that decide a claim
Cover for the hull, sails, rigging, engines and equipment, third party liability, and extras such as personal effects and tenders, within navigation limits agreed with the insurer and printed on your schedule.
- Sailing yachts and motor yachts
- Coastal and offshore cruising
- Agreed or market value
- FCA authorised and regulated
Quick answerYacht insurance covers a sailing or motor yacht, its sails, rigging, engines and equipment, and your liability to other people, within the cruising area on your schedule. Some insurers insure the yacht for an agreed value and others for its market value, which changes what a total loss pays. Longer offshore passages and racing usually need agreeing first. Tell MyMoneyComparison.com about your yacht once, and a specialist UK provider can come back with a quote.
This page is about sailing and motor yachts. Smaller boats, dinghies, RIBs, canal boats and what inland waterways ask for before they licence a boat are on our boat insurance page. Here we cover what a yacht policy adds: navigation limits, the value it pays, sails and rigging, racing and chartering.
At a glance
The Yacht and the Passage, in Brief
Six things that decide how yacht cover behaves, before any of the detail.
- Navigation limits
- Agreed with the insurer and printed on your schedule
- Agreed or market value
- Insurers differ on which they lead with
- Sails and rigging
- Settlement can change with age and with racing
- Offshore needs agreeing
- Longer passages are agreed before you go
- Chartering to be discussed
- Hiring the yacht out is worth raising with the insurer
- Broader cover exists
- At least one specialist pays damage caused by wear, excluding the failed part
The basics
What Is Yacht Insurance?
A policy for a sailing or motor yacht and your responsibility on the water. It pays for loss of or damage to the yacht, its sails, rigging, engines and equipment, and for claims from other people, within the navigation limits you agree.
Hull, sails and rigging
The yacht itself, its mast, standing and running rigging, sails and fixed equipment.
Engines and machinery
Inboard engines and systems, for damage from an insured event. At least one specialist offers breakdown as an option.
Third party liability
Injury to other people or damage to their yachts and property, up to the limit on your schedule.
Salvage and towage
Help to recover the yacht after an insured event, on the policies that include it.
Personal effects and tenders
Belongings aboard and a tender with its outboard, with their own limits.
Legal expenses
Offered by some specialists, for disputes connected with the yacht.
How it works
How Does Yacht Insurance Work?
You describe the yacht and how you sail it, agree its value and your navigation limits, and declare racing, chartering or living aboard. The schedule then sets out where and how you are covered.
You describe the yacht and your sailing
Type, length, age, construction, rig and engines, where it is kept, and the sailing you do.
You agree the value basis
An agreed value paid after a total loss, or a market value worked out after it. Insurers differ on which they lead with.
You agree the navigation limits
The waters you will sail in are printed on the schedule. Going beyond them needs agreeing before you leave.
You declare how the yacht is used
Racing, chartering, single-handed sailing and living aboard all change the risk and need to be on the schedule where they apply.
What it covers
What Does Yacht Insurance Cover?
The yacht, its sails, rigging, engines and equipment, third party liability, and extras such as salvage, tenders and personal effects, depending on the policy.
| Section | Where it sits | What to know |
|---|---|---|
| Hull, sails and rigging | Core | Settlement of sails and rigging can depend on age and racing |
| Engines and equipment | Core, for insured events | Breakdown is excluded unless an option is added |
| Third party liability | Core | The limit is on your schedule |
| Salvage and towage | On some policies | After an insured event |
| Personal effects and tender | Often included | With separate limits and security rules |
| Racing | Extension | Can change the excess and the settlement of sails |
| Machinery breakdown and legal expenses | At least one specialist | Offered on a wider policy |
New for old on parts. At least one specialist includes new for old on parts and materials below a set age, so a repair is not reduced for wear on newer parts. Older parts may be treated differently, so the policy is worth reading on this point.
Exclusions
What Yacht Insurance Does Not Include
Wear and tear, gradual deterioration, breakdown, and anything outside your navigation limits or declared use. How wide the wear and tear exclusion is differs between insurers.
Wear, tear and corrosion
Excluded on standard policies. At least one specialist pays damage caused by wear and excludes only the failed part.
Mechanical breakdown
Excluded unless you add a breakdown option, though damage it causes elsewhere may be covered.
Outside the navigation limits
Loss beyond the waters on your schedule, other than in an emergency.
Chartering not agreed
Hiring the yacht out is a different use, worth agreeing with the insurer first.
Racing without an extension
Excluded unless the schedule shows racing cover.
Uses beyond the policy
Single-handed sailing beyond any stated limit, or uses the schedule does not show.
A rig failure is where the wear wording matters. If a fitting fails through age and the mast comes down, a standard policy may treat the cause as wear and tear. A broader wording that excludes only the failed part can pay for the damage that follows.
Types
Which Yachts Can Be Covered?
Sailing yachts, motor yachts and motor sailers, from coastal cruisers to yachts sailing further afield, and some classic and wooden yachts.
Sailing yachts
Rig, sails and racing cover matter most, along with how sails are settled after a claim.
Motor yachts
Engines, speed and machinery options matter most, and at least one specialist offers breakdown cover for newer engines.
Motor sailers
A mix of both, with rig and engines declared.
Classic and wooden yachts
A survey and an agreed value are more likely to be asked for.
Cruising yachts
Wider navigation limits agreed for the passages you plan.
Liveaboard yachts
Worth raising with the insurer, with personal effects limits checked.
Single-handed sailing has its own terms. At least one insurer names single-handed sailing as an insured event but limits how long you can sail alone at a time. If you often sail single-handed, it is worth checking the limit before a longer passage.
Who it is for
Who Needs Yacht Insurance
Yacht owners who keep a berth in a marina or harbour that asks for proof of cover, and anyone whose yacht would be costly to repair or replace, or could cause a costly accident.
Marina berth holders
Marinas and harbours may ask for proof of third party cover.
Coastal cruisers
Navigation limits matched to the waters you sail.
Club racers
A racing extension where the schedule needs one.
Owners who charter
Chartering raised with the insurer before it starts.
Owners of higher-value yachts
An agreed value that reflects what the yacht is worth.
Owners of smaller craft
See our boat insurance page.
Your experience is part of the picture. At least one insurer asks that the person in charge is competent to handle a similar yacht, and for longer passages some insurers ask about qualifications and sailing experience before agreeing wider limits.
Value basis
Agreed Value vs Market Value
An agreed value policy pays the value set at the start after a total loss. A market value policy pays what the yacht was worth at the time, worked out after the loss.
| Agreed value | Market value | |
|---|---|---|
| After a total loss | The value agreed at the start | A market value worked out after the loss |
| Depreciation during the year | Not applied on at least one insurer’s agreed value | Reflected in the market value |
| Evidence at the start | A valuation or survey may be asked for | Less up front |
| Suits | Yachts where the value is clear and agreed | Owners content with market value |
Insurers lead with different bases. Some specialists lead with an agreed value, some default to market value with agreed value as an option, and some offer a choice. It is a question worth asking at the quote.
Cost
What Yacht Insurance Is Priced On
The yacht’s type, value, age and construction, the rig and engines, the navigation limits, where it is kept, your experience, and the cover and excess you choose. We do not print average premiums.
Why the navigation limits matter
Coastal cruising and longer offshore passages are different risks, and wider limits are priced and agreed separately.
Why the value basis matters
An agreed value fixes what a total loss pays, which is part of what the insurer is pricing.
What the quote is rated on
In roughly this order
- The yachtType, value, age and constructionBase
- Rig and enginesAge and conditionRate
- Navigation limitsCoastal or furtherRate
- UseRacing, chartering, living aboardRate
- Cover chosenExtras and excessAdjust
Experience
Competence and qualifications can count, especially for wider limits.
Where it is kept
A marina berth and a swinging mooring carry different risks.
The excess
Set on the schedule, and on some policies higher for racing claims.
The conditions
The Cruising Area and Rig That Decide a Yacht Claim
Four things decide many yacht claims, and each is settled before you sail.
Stay within the navigation limits
Cover applies only within the limits on your schedule unless revised terms have been agreed in advance. A passage beyond them needs agreeing before you leave, not after.
Look after the rig
At least one insurer describes regular visual checks and periodic professional inspection of standing rigging as good practice. Records of rigging work help if a dismasting claim is made.
Know how sails are settled
Where racing is covered, at least one insurer applies a deduction to sail and rigging claims. Outside racing, new for old on newer parts is offered by at least one specialist.
Raise chartering and living aboard
Both are different uses from private sailing, so they are worth raising with the insurer before they start.
A survey may come first. At least one yacht insurer says underwriters may ask for a recent condition survey before offering cover, particularly for older vessels, and that further surveys are not usually needed unless something material changes.
Quote checklist
What You Will Be Asked for a Yacht Quote
Six things shape the quote: the yacht, its value, its rig and engines, where it is kept, where you sail, and your experience.
The yacht
Type, make, length, age and construction.
Its value
The value you want to agree, with a survey or valuation if asked.
Rig and engines
Age of the standing rigging and details of the engines.
Where it is kept
Marina berth, mooring or ashore, and over the winter.
Where you sail
Your navigation limits, and any longer passage planned.
You and your crew
Experience, qualifications, and any racing or chartering.
Plan any longer passage early. If you are thinking about sailing beyond your usual waters, tell the insurer at the quote. Wider limits are agreed before you go, and the insurer may ask about the crew and their experience.
Comparing
Checking Yacht Quotes Side by Side
Four areas decide whether a policy suits your yacht: value, where and how you sail, breadth of cover, and liability and extras. None of them is the price.
Value and settlement
- Agreed value or market value
- New for old on parts
- How sails and rigging are settled
Where and how
- The navigation limits
- Racing, chartering and single-handed use
- Living aboard
Breadth of cover
- Wear and tear wording
- Machinery breakdown option
- Legal expenses and towage
Liability and extras
- The liability limit
- Personal effects and tender limits
- The excess
The value basis and the wear wording are where yacht quotes differ most. Two quotes at a similar price can pay very differently after a total loss or a rig failure. Terms that are unfamiliar are explained in our plain English jargon guide.
Cutting costs
How to Reduce the Cost of Yacht Insurance
The levers are navigation limits that match your sailing, a well-kept rig, a sensible value, and the excess. We publish no savings figures.
Match the limits to your sailing
Wider limits than you use can cost more.
Keep rigging records
Evidence of inspection and replacement answers underwriters’ questions.
Keep the value realistic
A value that reflects what the yacht is worth.
Build experience
Qualifications and experience can count with some insurers.
Choose a secure berth
Where the yacht is kept is part of the price.
Set the excess with care
A higher excess reduces the premium but leaves more of each claim with you.
Cover you already hold. Personal effects may already be covered away from home on your home policy, and some marina contracts include their own terms. It is worth checking before adding the same cover twice.
Glossary
Yacht Insurance Terms Explained
The words that come up most in a yacht policy.
- Agreed value
- The value declared by you and accepted by the insurer, paid after a total loss.
- Market value
- What the yacht was worth at the time of the loss, worked out afterwards.
- Navigation limits
- The waters the policy covers, printed on the schedule.
- Standing rigging
- The fixed wires and fittings that hold the mast up.
- Running rigging
- The lines used to raise and control the sails.
- New for old
- Replacement without a deduction for wear, usually on newer parts.
- Laid up
- Out of commission, ashore or afloat, under the policy’s terms.
- Bareboat charter
- Hiring the yacht out without a skipper.
- Salvage
- Costs of recovering a yacht in difficulty.
- Tender
- A small boat used to reach the yacht.
Why MyMoneyComparison.com
Why Compare Yacht Insurance with MyMoneyComparison.com?
MyMoneyComparison.com is an FCA-authorised UK comparison service that introduces yacht owners to a specialist UK boat and yacht insurance provider. We do not sell insurance and we do not give advice. Using us is free.
One form, your yacht
Describe the yacht and where you sail once.
Advice given
We are an introducer, not a broker. We do not sell policies and we do not recommend one insurer or product over another. Read our editorial policy.
Authorised and regulated
MyMoneyComparison.com Ltd appears on the FCA register under FRN 916241.
Incorporated
A UK company since 2013. FCA authorisation is separate and later; the register carries its date.
FAQs
Yacht Insurance FAQs
Answers on cruising limits, value, rigging, racing and chartering.
What is the difference between yacht and boat insurance?
The cover works the same way, but yacht policies are built around larger sailing and motor yachts: sails, rigging, offshore navigation limits, racing and higher values. Smaller craft, dinghies, canal boats and the licence requirements of inland waterways are covered on our boat insurance page.
What are navigation limits?
The waters your policy covers, agreed with the insurer and printed on your schedule. Cover applies only within those limits unless revised terms are agreed before you go. Loss outside them is excluded, except when you are helping someone in distress.
Can I sail offshore on my policy?
Only within the navigation limits on your schedule. Longer passages or cruising beyond your usual waters need agreeing with the insurer first, and some insurers ask about the crew and their experience before agreeing an offshore passage.
Is my yacht insured for an agreed value or market value?
It depends on the insurer. Some lead with an agreed value, paid in full after a total loss and not reduced for depreciation during the policy period. Others default to market value, worked out after the loss, with agreed value as an option. It is worth checking which you have.
Are sails and rigging covered?
Yes, as part of the yacht, but settlement can differ. At least one insurer offers new for old on parts and materials under a set age, and at least one applies a deduction to sail and rigging claims when racing. It is worth reading how your policy settles them.
Do I need a rigging survey?
There is no fixed rule across insurers. At least one insurer describes regular visual checks and periodic professional inspection of standing rigging as good practice, and underwriters may ask about the age of the rig. Keeping records of rigging work helps.
Will my insurer ask for a survey?
In some cases. At least one yacht insurer says underwriters may ask for a recent condition survey before offering cover, particularly for older vessels, and that further surveys are not usually needed unless something material changes.
Is racing covered?
Not unless the schedule shows a racing extension. Where one is offered, it can change the excess and the way sails and rigging are settled, and liability to other competitors may be limited. Tell the insurer if you race.
Can I charter my yacht out?
It is a question for the insurer before you start. Chartering, whether bareboat or skippered, is a different use from private sailing, and the policy is written for the use you declared. It is worth getting any agreement shown on the schedule.
Is single-handed sailing covered?
It depends on the policy. At least one insurer names single-handed sailing as an insured event, with a limit on how long you can sail single-handed at a time. It is worth checking before you set off alone.
Does yacht insurance cover machinery breakdown?
Standard policies exclude mechanical breakdown, though damage it causes elsewhere may be covered. At least one specialist yacht insurer offers breakdown cover for newer engines as part of a wider policy.
Does yacht insurance cover wear and tear?
Standard policies exclude wear and tear and gradual deterioration. At least one specialist offers broader cover where damage caused by wear and tear is paid and only the failed part itself is excluded.
What liability cover does a yacht policy include?
Third party liability for injury to others or damage to their property, up to the limit on your schedule. Marinas and harbours may ask for proof of cover, and some set their own minimum. The limit is worth comparing as well as the price.
Can I live aboard my yacht?
It is worth raising with the insurer first. Living aboard is a different use from occasional sailing, and personal effects limits may matter more if the yacht is also your home.
Does my sailing experience affect the cover?
It can. At least one insurer asks that the person in charge is competent to handle a similar yacht, and for longer passages some insurers ask about qualifications and sailing experience.
Is my tender covered?
It can be. Yacht policies can include the tender and its outboard, each with a limit and, for the outboard, security conditions. A tender that is not shown on the schedule may not be covered, so it is worth listing it.
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About this page
This page explains UK yacht insurance for sailing and motor yachts: what it covers, what it leaves out, and how the cruising area, value and rig decide a claim. It is general information rather than advice. Policies differ between providers, so read your own documents and put the questions raised here to the provider.
How we approached this page
- Published UK boat and yacht insurance policies and summaries
- UK yacht insurers’ published guidance on cover, value and rigging
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