| Yachts are obviously very expensive to buy and are | | | | object, it is worth having. But of course, it will be |
| valuable items. Therefore it is important to ensure | | | | costly, depending on the value of your yacht and the |
| that they are fully insured. Insurance cover should | | | | type of cover purchased. |
| include such things as theft, damage, explosion - | | | | Other factors will also determine the cost of your |
| always a risk where a lot of fuel is being carried - and | | | | cover. These include such things as the length of the |
| outright loss. | | | | vessel, its age, where it is going to be sailed, and the |
| It is important to know what kind of cover is | | | | type of engine it has. However, there are several |
| required for your vessel. The marine insurance | | | | factors which can lead to a discount in premiums. |
| industry classes vessels over 26 foot as yachts and | | | | They include the provision of on board safety |
| they qualify for yacht insurance. If they are less than | | | | equipment, whether the owners have taken safety |
| 26 foot they are eligible for boat insurance cover. | | | | courses and if the yacht is laid up for a long period. |
| In order to adequately insure your yacht, you need | | | | Depending on your type of yacht insurance it may |
| assess how much it would cost to replace the vessel | | | | contain certain warranties which restrict its use. A |
| if it were lost or completely destroyed. Then it is a | | | | navigational warranty will limit the amount of time |
| case of finding out how much it would be to replace | | | | you can sail your vessel in certain parts of the world. |
| the items and equipment on board. | | | | Under a lay up warranty your yacht must be docked |
| You will also need to make provision in your cover if | | | | during certain times of the year. |
| the yacht is docked in a region that is susceptible to | | | | Yacht insurance is vitally important for owners should |
| violent weather conditions such as hurricanes. It is | | | | anything unforeseen happen to what is a very |
| also important to consider indemnity coverage in the | | | | expensive item of property. Should you take the |
| event that your vessel causes damage to another | | | | time and care to insure your craft properly, the |
| persons boat or property through a collision. | | | | benefits of insurance will then become apparent |
| Yacht insurance will save you a massive outlay in | | | | should misfortune strike. But hopefully you will soon |
| cash should your craft be lost, stolen or cause third | | | | be out at sea sailing again. |
| party damage. Therefore, like with any other valuable | | | | |