Protect your luxury yacht with a customized Florida yacht insurance policy that covers all the extras. It’s a solid bet that your yacht is a customized gem of a vessel; insure it as such. Whether you’ve opted for the horsepower of supreme engines, top-of-the-line fishing equipment, or stellar onboard comfort details, there’s no single answer for your unique coverage needs.
Work with a marine insurance advisor who deeply understands the nuances of Florida yacht insurance customizability. He or she may recommend coverage for all or some of the following:
Planning to reel in the big one — and sparing no expense to do so? If the fishing equipment you plan to stow onboard is high quality, consider adding coverage for fishing tackle. This coverage is especially wise to carry if you plan to store some or all of that tackle onboard. Should it be stolen, you won’t be up the creek without your fishing gear.
Coral reef damage
The health of coral ecosystems is at the mercy of boaters; reefs are protected strongly because of this. Should you knowingly or unknowingly damage a coral reef, the fines are steep. Government penalties are often levied on top of the initial fees. And what might have started as a pleasure cruise could wind up costing tens of thousands of dollars.
Pollution penalties are large as a way to deter pollution and help keep our waters as pristine as possible. A luxury yacht at risk of polluting should carry this protection.
Planning a long-distance yachting adventure? Contact your insurance company and inquire about extended navigation coverage. Often, coverage may be written to encompass specific areas.
For example, a yacht owner traveling from St. Petersburg, Florida to Isla Mujeres will need to inform his insurance provider and acquire additional coverage for the journey. It is possible to elect such coverage for even a single trip.
Named storm safeguard
If that hurricane seems to be headed straight to your yacht, having this coverage becomes a great decision. The insurance company will pay for the vessel to be moved to a safer location.
If the unthinkable occurs, this coverage allows for the removing of wreckage without the hefty cost that would usually come with raising a large luxury yacht from the depths.
Each insurance company offers an array of coverages for you to consider. Review your options with a W3 marine advisor. Ensuring your luxury yacht insurance protection is as all-encompassing as possible is the first step toward smooth sailing.