sailboat insurance for cruisers

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How to Navigate Marine Insurance in 2021

• By Jennifer Brett
• Updated: June 30, 2021

If you’ve been on the hunt for a marine insurance policy over the past year or so, you likely already know that it’s a challenging market. Sailing and cruising groups on social media and web forums are filled with frequent posts about people struggling to find coverage, keep coverage, or just afford it. It’s a problem that seems to be affecting beginning cruisers and circumnavigators, with old boats or new. So what gives? How did the situation get to this point, and what can sailors do to protect their dream?

“I’ve been doing this for 30 years, and I’ve never seen a market this hard,” said Morgan Wells, a yacht-insurance specialist with Jack Martin and Associates. “There’s been a great reduction in the number of insurance companies writing boat and yacht insurance, and the international-cruiser segment of the market has been more adversely affected, particularly for boats anywhere on the US East Coast, and even more so for people looking for new policies for Florida, the Bahamas and the Caribbean.”

Indeed, cruisers across the spectrum of locations and sea time are feeling the pinch. When looking to renew their current insurance policy last year, circumnavigators Behan and Jamie Gifford, who live aboard their 1982 Stevens 47, were met with a surprise. “When it came time to renew, we were quoted more than double our cost for insurance the year we planned to cross the Indian Ocean, 2015—an arguably very risky navigational area—and we now had the added requirement of a third adult for passages,” Behan said. “In the end, we didn’t renew at all, and currently have liability-only insurance. I’m not pleased about that and hope to get back to full hull insurance when the market comes around.”

Owners of newer boats don’t seem to be having an easier time either. “We bought a 2015 Jeanneau 64 in October 2020,” Dan Stotesbery said. “I have a lot of experience sailing, but none of it was logged, so I don’t have any credentials like a Yachtmaster or anything like that. My wife has even less experience. When we heard it was tough getting insurance, we were definitely worried about getting covered. Complicating the situation was that the boat was in Turkey, and I needed to sail it across the Atlantic to get to my wife and family. We reached out to the company that insured our house to see if they could find us a company that would insure the boat and especially the crossing. We received two quotes back and ended up getting insured with Concept Special Risk. They did put in a lot of stipulations, like we needed to have a captain for the crossing and at least two other people with bluewater experience, a list of countries we aren’t allowed to go in, and a 250-miles-from-land limit once the crossing was complete. It was extremely expensive, and there was an additional cost for the crossing.”

Changing Marketplace

So how did it get to this point? “We need to put it into context of a market that was very soft for many years—underwriters were looking for business,” Wells said. “There was a bit of a hiccup in the mid-2000s with some fairly significant storms, but generally it didn’t cause much change, and underwriters were still looking for ways to say yes. But then in 2017 came hurricanes Irma and Maria, then Dorian in 2019—these were extremely large losses to very large fleets of boats. Since 2017 we have seen the market flip from a soft to a hard market, and in fact, a very hard market by early 2021. We really have a big change now with fewer insurance companies and greater demand for insurance. And the pricing is much higher than it was a year ago. Irma and Maria showed the vulnerability in the market.”

Laura Lindstrom-Croop from Legacy Underwriters, noted that “many insurance companies left the Caribbean market in 2019-20. Pantaenius America was the first to leave,” she said. “The agency that I work with had YachtInsure, which lost its underwriter, Aspen Insurance, last summer. They have recently secured a new carrier, Clear Blue Specialty, that is writing new business but has new guidelines. Our second underwriter, Concept Special Risk, lost its company, Great Lakes Insurance, on January 1, 2021, but now it has a new company, Clear Springs Property and Casualty, that is writing new business with new guidelines.”

Suzanne Redden, mid-Atlantic branch manager for Gowrie Group, has had a similar experience. “Traditionally, when we would have someone coming in with a sailboat who wanted to do extended cruising, we had five, six, seven…at least that many companies who were willing to write that policy,” Redden said. “So there really wasn’t too much of an issue finding coverage for the customer, depending on where they wanted to go and their level of experience, that sort of thing. What we’re really struggling with now—and it’s a struggle—is that so many carriers have basically pulled out that our options are very limited as far as who is willing to write Caribbean navigation and worldwide navigation. Our choices are few. And what happens then is, of course, the prices go up because the company’s philosophy is ‘no one else wants to write here; we’ll write here, but this is what our actuaries tell us it’s going to cost to allow us to do that.’ So that’s why the rates have gone up.”

The cost to insure his Jeanneau 64 was definitely a bit of a surprise to Stotesbery: “The policy had to be paid upfront. That was the biggest surprise to us because we are used to paying car insurance monthly. This is also a hurdle that I think can be hard to overcome for some people. Not a lot of people have that kind of cash on hand to just fork out.”

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Underwriting Difficulties

Along with higher costs, Redden also pointed out that the underwriting has changed a lot too. “Where before you would have had somebody who maybe had just a year or two experience, or they had just bought a boat, more companies would have been willing to let them take a trip. They look at it much more closely now when a new submission comes in. That’s made it more difficult, I think, for that sort of person to find insurance.”

According to Emma Whittemore, a service manager for BoatU.S./Geico Marine Insurance, underwriting has become much more sophisticated. “With the growth of data, insurance companies can really tell what group is a high-risk group,” she said. “We’re monitoring a lot more to make sure that the right people are behind the helm on these big, 35- to 60-foot boats. We want to make sure it’s not these customers’ first boat, and that they really know what they’re doing. Underwriting is fluid, but in general we always like to look at the ownership experience.”

This has been a particularly vexing problem for potential cruisers. Dana Fairchild and her husband live in Minnesota and have been planning for their cruising dream for the past few years. The couple has taken ASA sailing courses and chartered on Lake Superior but never owned their own sailboat. “Our cruising plans are to buy a boat large enough to live aboard; a 35- to 38-foot Island Packet is what we have in mind,” she said. “Due to the price point of Island Packets, we are looking at models from the 1990s. We plan to keep it on the East Coast of the US—somewhere above the hurricane zone during hurricane season, and probably down to Florida in the winter—for the first six months to a year while getting comfortable with the boat and used to the liveaboard lifestyle. After that we want to head to the Bahamas for a while, and eventually work our way down to the rest of the Caribbean and stay there.”

While the couple hasn’t purchased a boat yet, they’d heard the news that insurance might be difficult to find, so they reached out to a few companies to explain their plans and intended boat. “The short answer to what we’ve been hearing from insurance agencies is no. The reason for this is predominantly that we have not owned our own boat that is of comparable size, or at least within 10 feet. They don’t take into consideration that we have sailed and chartered boats of the same size, but really only want to see that a boat of comparable size was titled to us for at least two years”

Looking Ahead

So when faced with a denial, a notice of nonrenewal or a steep increase in premiums, what can a cruiser do? Is there coverage available? “What I am seeing, you have more choices if you limit your cruising to the US East Coast down to the Turks and Caicos,” Lindstrom-Croop said. “If you go to the Eastern Caribbean, you have fewer carriers, and some are writing coverage that doesn’t include hurricanes.

“I think cruisers are going to have to be patient and flexible. Also, update your sailing resume so when you shop around, you are giving the company a reason to give you the maximum credit available. Lower rates are probably not going to happen for a couple of years, climate change is weighing heavily on insurers, and the large number of storms recently is worrisome.”

Communication is crucial. Each of the insurance professionals I spoke with made it clear that underwriters are looking much more closely than in years past, and detailed sailing resumes and hurricane plans can help your chances. For newer cruisers, scaled-back sailing plans could help as well because finding coverage for a smaller cruising area will likely be much easier than, say, the entire East Coast and Bahamas. And for older vessels, a survey might be required for renewal.

“Some of the companies have gone to where they won’t write a boat over 40 years old,” Redden said. “Gowrie Group offers the Jackline program, which is a cruising program through Markel Insurance, which is really one of the last US companies still doing extended cruising, but they’re very restrictive on what they will write and how they’ll write it. But they will take older boats. Experience is the key.”

“It is harder to insure an older boat, but it can be done,” Lindstrom-Croop said. “There are just fewer markets. An older boat needs to be maintained well and have a current survey, within three years. I like to submit the survey along with the application when marketing so the underwriters can see the boat.”

For the time being, it seems that cruisers, such as Stotesbery, who currently have—albeit expensive—coverage are doing what they can to keep it. “We have had several major repairs to do on the boat, which we probably could have put in a claim for, but we are too worried about getting dropped or not covered next year, so we just paid for the repairs,” he said. “So it’s sort of a Catch-22. Unless we have a catastrophic type of claim, we don’t want to make one, but we still pay the high premium without really being able to take advantage of the protection. We will definitely start shopping again once we get closer to our renewal date. Unfortunately, there just aren’t a lot of insurance choices out there, so it is quite limiting, and they hold all of the cards.”

Others, such as the Giffords, are going without full coverage for now, while potential cruisers, such as the Fairchilds, might need to put their dream on hold. “As for how this is impacting our plans, it has really made us start to second-guess that this is even a possible plan. We have become discouraged, and this has really put a halt to most of the steps we were taking,” Fairchild said.

Wells, Redden and Lindstrom-Croop are optimistic for things improving in the insurance market over the next year or so, but all emphasize having patience. “We’re hoping that things will change for the better,” Redden said. “We’ve got some companies now that pulled out that are coming back, but it’s a very slow process.”

Jennifer Brett is CW’s senior editor.

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A Guide to Sailboat Insurance

Imagine sailing freely on the open seas, wind in your hair and a sense of adventure in your heart. But amidst the exhilaration, don’t forget the importance of protecting your sailboat.

In this guide, we’ll show you how to navigate the world of sailboat insurance, helping you choose the right coverage, avoid common mistakes, and lower your premiums.

So set sail with confidence, knowing that your prized vessel is safeguarded against any unforeseen circumstances.

Table of Contents

Understanding Sailboat Insurance Coverage

You should consider reviewing your sailboat insurance coverage to ensure you’re adequately protected. As someone who values freedom and adventure, it’s important to understand the ins and outs of your insurance policy.

Finding affordable sailboat insurance can be a challenge, but with a few tips and tricks, you can secure the coverage you need without breaking the bank.

When searching for affordable sailboat insurance, start by comparing quotes from different providers. Look for companies that specialize in marine insurance as they may offer better rates and tailored coverage options. Additionally, consider bundling your sailboat insurance with other policies like auto or home insurance to potentially save money.

Understanding liability limits is crucial when it comes to sailboat insurance. Liability coverage protects you in case of accidents or injuries caused by your sailboat. It’s important to assess your risk exposure and choose liability limits that adequately protect your assets. While higher limits may come with a higher premium, they offer greater financial security.

Don’t forget to review the terms and conditions of your sailboat insurance policy. Look for any exclusions or limitations that may affect your coverage. It’s also a good idea to regularly reassess your insurance needs as your sailboat usage and value may change over time.

Types of Sailboat Insurance Policies

When considering sailboat insurance policies, it’s important to thoroughly compare and understand the different types available. Sailboat insurance provides essential protection for your vessel and yourself while out on the open water.

Here are some key types of sailboat insurance policies to consider:

Liability Limits: This type of insurance policy covers any damages or injuries caused to others while operating your sailboat. It’s important to carefully review the liability limits of each policy to ensure you have adequate coverage in the event of an accident.

Coverage Exclusions: It’s crucial to carefully review the coverage exclusions of each policy to understand what isn’t covered. Some common exclusions may include wear and tear, damage caused by improper maintenance, and acts of war or terrorism. Make sure you’re aware of these exclusions to avoid any surprises down the line.

Additional Coverage Options: Many sailboat insurance policies offer additional coverage options that you can choose from based on your specific needs. These options may include coverage for personal belongings on board, emergency towing services, and even coverage for racing events.

Factors to Consider When Choosing Sailboat Insurance

Considering the sailing conditions and intended use of your sailboat is crucial when choosing insurance coverage. There are several factors to consider when selecting sailboat insurance that will best suit your needs.

First, you need to take into account the sailing conditions you typically encounter. Are you sailing in calm waters or do you venture into rough seas? The type of coverage you choose should align with the risks associated with your sailing environment.

Second, think about the intended use of your sailboat. Do you use it for leisurely weekend trips, or do you participate in competitive racing? Different insurance policies offer varying levels of coverage for different uses.

To make it easier for you, here is a table summarizing the factors to consider when choosing sailboat insurance:

Navigating Liability Coverage for Sailboat Owners

There are several key factors to understand and navigate when it comes to liability coverage for sailboat owners, such as the amount of coverage needed and the potential risks involved. It’s important to have a clear understanding of liability limits and how they can protect you in the event of an accident.

Here are some points to consider:

Liability Limits : Determine the appropriate liability limit for your sailboat insurance policy. Higher limits provide more coverage in case of accidents or damages caused by your sailboat. It’s crucial to assess your personal risk tolerance and the potential costs associated with liability claims.

Coverage Exclusions : Familiarize yourself with the coverage exclusions in your policy. These are specific situations or events that may not be covered by your insurance. Understanding the exclusions can help you make informed decisions and potentially avoid costly surprises in the future.

Special Considerations : Take into account any special considerations related to your sailboat. For example, if you plan to charter your boat or participate in races, you may need additional coverage. Discuss these factors with your insurance provider to ensure you have the appropriate coverage for your specific needs.

Protecting Your Sailboat Against Physical Damage

To protect your sailboat against physical damage, it’s important to have insurance coverage that includes accidents and the cost of repairs.

Accidents can happen unexpectedly, whether it’s a collision with another boat or damage caused by severe weather conditions.

Coverage for Accidents

You should definitely check if your sailboat insurance policy includes coverage for accidents caused by collisions with other vessels. Accidents can happen, and the cost of repairs can add up quickly. It’s important to have the proper coverage in place to protect yourself and your investment.

Here are a few common accidents that could occur while sailing:

Collisions with other vessels: Accidents happen, and if your sailboat collides with another boat, it can result in significant damage. Make sure your insurance policy covers this type of accident.

Groundings: Running aground is a common occurrence for sailors, especially in shallow waters. If your sailboat gets stuck on a sandbar or hits a submerged object, it can cause damage to the hull and other parts of the boat.

Storm damage: Severe weather conditions can cause significant damage to your sailboat. High winds, heavy rain, and rough seas can lead to costly repairs.

Having the right insurance coverage can give you peace of mind and protect you from unexpected expenses. Take the time to review your policy and make sure you have the coverage you need.

Cost of Repair?

If your sailboat sustains physical damage, it is important to consider the cost of repair in order to make an informed decision about your insurance coverage. Understanding the cost of repairs will help you evaluate whether it is worth filing an insurance claim or paying out of pocket. To assist you in this process, here is a breakdown of the typical cost of repairs for common sailboat damages:

Specialized Coverage for Racing Sailboats

When it comes to racing sailboats, specialized coverage is essential.

Unlike regular sailboats, racing sailboats have unique policy considerations that need to be taken into account.

From coverage for regattas and races to higher premiums and deductibles, it’s important to understand the specific insurance needs of racing sailboats.

Racing Sailboat Coverage

Make sure your racing sailboat coverage includes specialized coverage for racing events. Racing sailboats require specific insurance coverage to protect against the unique risks involved in competitive sailboat events. Here are three important considerations to keep in mind when selecting your coverage:

Hull Insurance : This coverage will protect your sailboat from damage caused by accidents, such as collisions or grounding during a race.

Liability Insurance : In the fast-paced world of racing sailboats, accidents can happen. Liability insurance will cover any damages or injuries caused to others during a race.

Equipment Insurance : Racing sailboats often have specialized equipment that can be expensive to replace. Ensure your policy covers the cost of repairing or replacing your racing gear, such as sails, rigging, and instruments.

Unique Policy Considerations

There are three important policy considerations to keep in mind when selecting coverage for your racing sailboat.

First, make sure to thoroughly review the policy exclusions. These are the situations or events that your insurance company won’t cover. It’s important to understand these exclusions so that you can plan and prepare accordingly.

Second, pay close attention to the coverage limits. These limits determine the maximum amount that your insurance company will pay in the event of a claim. It’s crucial to assess these limits to ensure that they align with the potential risks and costs associated with racing sailboats.

Premiums and Deductibles

You should carefully consider the premiums and deductibles associated with specialized coverage for your racing sailboat. Sailboat insurance can provide peace of mind and financial protection in case of accidents or damage. To make the most informed decision, here are some key points to consider:

Premium discounts: Look for insurers that offer premium discounts for safety measures such as having a boating safety course, installing safety equipment, or having a clean claims history. These discounts can help reduce your overall insurance costs.

Choosing deductibles: Deductibles are the amount you pay out of pocket before your insurance coverage kicks in. Higher deductibles usually result in lower premiums, but it’s essential to ensure that you can comfortably cover the deductible amount in case of a claim.

Specialized coverage: Racing sailboats often require specialized coverage due to their unique risks. Make sure to evaluate the coverage options available for racing sailboats and choose a policy that adequately protects your investment.

Exploring Additional Coverage Options for Sailboat Insurance

Can you explain the benefits of adding additional coverage options to your sailboat insurance policy?

As a freedom-seeking sailor, you understand the importance of protecting your beloved sailboat from any unforeseen events. Exploring coverage limits and understanding policy exclusions are crucial steps in ensuring comprehensive protection.

By adding additional coverage options to your sailboat insurance policy, you gain peace of mind and the freedom to navigate the open waters without worry.

One of the main benefits of adding extra coverage is the ability to customize your policy to meet your specific needs. You can choose to enhance your coverage for damages caused by natural disasters, such as hurricanes or storms. This ensures that even in the face of nature’s fury, you’ll be financially protected.

Another important coverage option to consider is liability insurance. This protects you in the event that you cause damage to another person’s property or injure someone while operating your sailboat. By having this additional coverage, you can sail with confidence, knowing that you have the means to handle any potential liability claims.

Furthermore, adding coverage for personal belongings onboard your sailboat is essential. This protects your valuable possessions, such as electronics, navigation equipment, and personal belongings, from theft, loss, or damage.

Tips for Lowering Sailboat Insurance Premiums

If you maintain a good sailing record and take a boating safety course, you may qualify for lower sailboat insurance premiums. Here are some tips for reducing sailboat insurance costs and strategies for lowering sailboat insurance premiums:

Shop Around : Don’t settle for the first insurance provider you come across. Take the time to compare different policies and prices to find the best deal for you. Consider factors such as coverage limits, deductibles, and additional benefits.

Increase Deductibles : By opting for a higher deductible, you can lower your insurance premiums. Just make sure you have enough savings to cover the deductible in case of an accident.

Bundle Your Policies : Many insurance companies offer discounts when you bundle your sailboat insurance with other policies such as auto or home insurance. This can lead to significant savings on your premiums.

By following these tips and strategies, you can lower your sailboat insurance premiums and enjoy the freedom of sailing without breaking the bank.

The Claims Process for Sailboat Insurance

To expedite the claims process for sailboat insurance, make sure to promptly report any damages or accidents to your insurance provider. Time is of the essence when it comes to filing a claim, so don’t delay in notifying them about any incidents that occur. By doing so, you’ll help ensure that the claims process runs smoothly and efficiently.

When it comes to the claims process, it’s important to understand the timeline involved. Insurance companies typically have specific timeframes within which you’re required to report and file a claim. Familiarize yourself with these deadlines to avoid any potential complications or delays in receiving your settlement.

In addition to reporting the incident promptly, it’s crucial to gather all necessary documentation to support your claim. This may include photographs of the damage, estimates for repairs, and any relevant police or incident reports. By providing thorough documentation, you can help expedite the claims process and increase the likelihood of a favorable outcome.

Common Mistakes to Avoid When Insuring Your Sailboat

You should always carefully review your sailboat insurance policy to avoid common mistakes that could leave you underinsured in the event of an accident. Sailboat insurance is essential to protect your investment and ensure your peace of mind while out on the open water.

Here are some common mistakes to avoid:

Not understanding liability requirements : It’s crucial to familiarize yourself with the liability requirements set by your state or marina. Failure to comply with these requirements could result in legal consequences and financial burden in case of an accident.

Ignoring coverage limits : Many sailors make the mistake of overlooking the coverage limits in their policy. It’s important to know the maximum amount your insurance company will pay in the event of a claim. If your coverage limit is too low, you may end up having to pay out-of-pocket for damages or injuries.

Neglecting to update your policy : As your sailboat ages or you make modifications, it’s essential to update your insurance policy accordingly. Failing to do so may result in inadequate coverage or even denial of a claim.

By reviewing your sailboat insurance policy, understanding liability requirements, paying attention to coverage limits, and keeping your policy up to date, you can ensure that you have the right coverage in place to protect yourself, your sailboat, and your freedom on the water.

Stay safe and enjoy your adventures worry-free!

Expert Advice on Choosing the Best Sailboat Insurance Policy

When comparing sailboat insurance policies, it’s important to consult with experts who can provide guidance on finding the best coverage for your specific needs. Understanding liability and having adequate coverage for accidents are crucial aspects of sailboat insurance. You want the freedom to explore the open waters without worrying about financial burdens in case of an unfortunate incident.

To begin, liability coverage is essential because accidents can happen, even to the most experienced sailors. Imagine a scenario where your sailboat collides with another vessel, causing damage to both boats and possibly injuring individuals. Without proper liability coverage, you could be held personally responsible for the expenses, which could be financially devastating. So, make sure your policy covers liability for bodily injury and property damage.

Additionally, coverage for accidents is vital. Sailboats are susceptible to various risks, including storms, collisions, and even theft. Accidents can result in significant damage to your boat, leaving you with hefty repair or replacement costs. Having comprehensive coverage that includes accidents will ensure that you’re protected financially if the unexpected occurs.

To find the best sailboat insurance policy, consult with experts who specialize in this field. They can evaluate your needs, explain the various coverage options, and help you find a policy that provides the right protection for your sailboat adventures. Remember, the freedom to sail without worry comes from having the right insurance coverage.

Frequently Asked Questions

Can i insure my sailboat if it is older or in need of repairs.

Yes, you can insure your older sailboat or one that needs repairs. Sailboat insurance providers understand that boats age and require maintenance. They offer coverage options to protect your investment and give you peace of mind.

What Is the Difference Between Agreed Value and Actual Cash Value in Sailboat Insurance?

When it comes to sailboat insurance, understanding the difference between agreed value and actual cash value is crucial. Agreed value ensures you’ll be compensated for the agreed upon value, while actual cash value takes depreciation into account.

Are There Any Discounts Available for Sailboat Insurance if I Have Completed a Boating Safety Course?

Yes, completing a boating safety course can make you eligible for discounts on sailboat insurance. Not only will you save money, but you’ll also gain valuable knowledge that will benefit you on the water.

Does Sailboat Insurance Cover Me if I Sail in International Waters?

Does sailboat insurance cover you when sailing in international waters? You’ll be glad to know that many policies do offer coverage for international sailing, giving you the freedom to explore the open seas worry-free.

Can I Add Coverage for Personal Belongings and Equipment Stored on My Sailboat?

Yes, you can add coverage for your personal belongings and equipment stored on your sailboat. Sailboat insurance offers coverage options for personal belongings and equipment protection, giving you peace of mind while enjoying your freedom on the water.

Scott is a devoted boat enthusiast and provides invaluable insights, tips, and advice on boat insurance coverage, industry trends, and maintenance. Marine Insurance Now is the go-to resource for seasoned boat owners seeking insurance guidance and aspiring sailors embarking on nautical adventures. Scott's expertise and infectious passion make his blog a must-read for boat enthusiasts and is making waves in the boating community.

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Bluewater cruising insurance – what you need to know

• April 13, 2022

Janneke Kuysters looks at bluewater cruising insurance and explains what you need to know and why it's become increasingly difficult to insure your yacht for long distance cruising

There’s no getting around the fact it has become a lot harder to get boat insurance, particularly bluewater cruising insurance. However, there are still ways to secure good coverage – you just need to know what makes insurers tick.

If you want to ruin any cruising sailors’ potluck party on a tropical beach, just drop in a question about boat insurance. Many boat owners have stories to tell. Just about every aspect of the process has become more complicated for bluewater cruising insurance, it takes a bigger chunk out of the cruising budget every year and the rising deductibles make it more and more tempting to go uninsured. So, what is going on in the market and how do you get proper insurance to match your cruising plans?

How bluewater cruising insurance works

First, let’s look at who you are dealing with when you try to get your yacht insured for a trip to the Med, the Caribbean or a circumnavigation.

The insurance company covers your yacht: they write the cheque when there are damages to it or when you’ve caused damage. All this depends on the conditions that you agreed to when taking the policy, but in general, you don’t deal with the insurance company directly when you try to get insurance for a bluewater itinerary. Unlike car insurance, boat insurance is a very specific product and it requires a tailor made approach. Most likely you’ll do business with a broker or an underwriting agent.

Uninsured yacht owners could face enormous salvage, repair and environmental damage costs if the worst should happen. Photo: Ben Welsh Premium/Alamy

The broker considers you, your boat and your plans and presents this ‘package’ to several insurance companies. A single insurance company may want to insure you, but it could also be a syndicate of insurers: each insurer accepting a certain percentage of the risk presented by your package.

There are different kinds of brokers; the difference lies in the amount of work they take off the hands of the insurance companies. If the broker is just helping you to get cover for your beautiful blue water itinerary, you’ll get a policy with the header of the insurance company. If the broker does a lot more work, for instance manning phone lines for 24/7 assistance and handling of claims, you may find their company name at the top of your policy. Brokers that take the most work off the hands of the insurers are called managing general agents (MGAs).

What has changed?

Why has it become more complicated to get yacht insurance for blue water voyages? Mike Wimbridge, managing director of Pantaenius UK, explains: “Yacht insurance for offshore itineraries has always been a tailor made market. And we see that, in recent years, there has been less appetite from the insurance companies when it comes to yacht insurance in general. For coastal cruising in UK waters, things are still fairly easy to insure. But for more bespoke risks like insuring a bluewater cruise, we see that the market is nervous.”

There are several reasons behind this change, Wimbridge says. “Up until 2017 this was a highly competitive market, so prices were as low as possible. It then became untenable for many insurers, especially when a few big windstorms tore through areas where lots of yachts were stored.

“Insurance companies and their reinsurance companies pulled out of the market, leaving a few behind who needed to safeguard their financial situation. So the premiums and deductibles rose. Things are stabilising now, but we still see slight increases annually.”

There are other factors at play. The effects of climate change mean extreme weather events happen more often.

Sailing off the beaten track can be challenging to insure. Photo: Janneke Kuysters

The typical consumer profile has also changed. In the past, yacht owners usually set off on passage armed with sextants, paper charts and a wealth of experience. Nowadays it has become a lot easier to get started – thanks to everything from computer-based navigation systems to powered sail handling – so owners can set off on a bluewater cruise with less experience.

At the same time, boats have become larger and potential claims more expensive: a single lightning strike can destroy tens of thousands of pounds worth of electronics, so it’s perhaps understandable insurers can be nervous to write bespoke policies.

However, there are signs that the market is rebalancing. Ric De Cristofano, director of underwriting with Topsail Insurance, says: “The good news is that the insurance market is cyclical: it will bounce back. I think we have the worst time behind us and we’ll see that insurers become more open to write policies for bluewater cruising yachts.”

How to get bluewater cruising insurance

If you are looking for insurance for a bluewater itinerary, Wimbridge says, “Getting a quote is getting harder and harder. You have to ‘pitch’ yourself, your boat and your plans to the insurer. The broker can help you to do this or you can select a carrier that has staff on hand who are experienced in this area. Things like your sailing CV, diplomas and those of your crew, previous long passages that you have successfully undertaken, and technical or managerial skills that will benefit your sailing, are very important to mention.

“When it comes to the boat: the more seaworthy, the better. There is no real threshold when it comes to boat value, but a well found yacht that is suitable for offshore cruising is paramount to get insurance.”

“We have added a maintenance log to our ‘pitch’ to get insurance,” say American cruisers Jason and Nicky Wynn (see gonewiththewynns.com). “This has added to the success of securing insurance for our boat.” Keep receipts and take photographs as proof of upgrades and repairs, and record a log of routine maintenance.

“The third element in your ‘pitch’ is your itinerary,” continues Wimbridge. “The Atlantic and Pacific are well-cruised areas where insurers can assess the risk they are writing. But if you’re heading around Cape Horn or further afield in the Indian Ocean, premiums will rise. So with your choice of itinerary you can influence the height of your premium and insurance conditions.”

Hurricane damaged yacht. Photo: Pantaenius

In general, insurers are not keen to cover your yacht if you sail in areas with a cyclone/hurricane risk. They have predefined areas and dates which are important to adhere to if you want to stay insured. You will also have a very hard time finding insurance to sail in areas with political instability, war or threats of terrorism. War Risk zones are internationally acknowledged areas where even large commercial ships pay breathtaking insurance premiums.

De Cristofano adds: “Start looking for an insurer at least six months before you plan to leave. Have a chat with your broker to see if they will be able to find insurers that will cover your itinerary. Give yourself ample time to put your ‘pitch’ together and to discuss possible alternatives with your insurer that will lead to a policy that fits your budget.

“It pays to negotiate about the deductible: if you are willing to accept a higher deductible, this may make a significant difference in the premium you will be paying, because it signals to the insurer that you have confidence in your yacht and your skills to maintain it properly.”

However, Wimbridge warns: “Price is not all; think of insurance as a partnership with the insurer. The cheapest policy may not do what you need it to do when you are in trouble on the other side of the planet. You need an insurer who has the knowledge and the capacity to get help to you where you are: spare parts, technical assistance or even worst case, salvage. A lot of the cheaper insurance options will require hiring a third party provider locally, which may present all sorts of cultural and language barriers. So look at the quality of the policy.”

Real world solutions

Bill Garlick is a well known name in the cruising community: many boat owners who have sailed to the other side of the world and run into trouble with their insurance get help from Bill at The Marina Shop in Opua, New Zealand.

“The marine insurance market had a monumental dislocation at the end of 2018 when many Lloyds pleasure craft syndicates closed their books,” Garlick explains. “The lost capacity created a worldwide shortage of marine insurance for pleasure craft. Cover was difficult to find and premiums started rising. Around 95% of our clients were insured with Lloyds at the end of 2018 and those now with Lloyds can be counted on one hand. A number of insurers stepped in to fill the abyss which meant brokers and clients had to deal with new policy wordings and cruising parameters. By the end of 2019 most clients were placed with new insurers.

Keeping a log of regular maintenance can be helpful. Photo: Janneke Kuysters

“A consequence of the contracting market is that marine insurers have tighter criteria and marine insurance is more difficult to secure. Older (30 years-plus), smaller (under 40ft) and low value boats (less than US$100,000) are difficult and sometimes impossible to insure. Standing rigging must be no more than 10 years old (a rig inspection and report is no longer acceptable), surveys are generally required when an insurer takes on a new risk unless the vessel is a relatively new factory production model.”

He adds: “Registration is now the key factor in securing marine insurance. Many insurers are not registered in all countries/jurisdictions so they can only offer cover to certain flags. Choosing a flag is now the decision that determines which – if any – insurers can offer terms.”

Claudia Masson, CEO of the specialised German yacht insurance broker Preuss, says Brexit has also had an impact on European brokers: “Since Brexit, it is no longer possible for us to insure a UK registered yacht with a UK owner. We’ve had to cancel all the policies of our UK clients; this has limited the amount of alternatives there are for UK boat owners.”

“Lightning, windstorm and saltwater damage to electronics and electrical systems are problematic,” adds Garlick. “Many marine insurers simply refuse to offer cover for these risks and others mitigate their exposure by offering high excesses/deductibles.”

Go uninsured?

Every year a number of cruising yacht owners decide to sail uninsured. There are several reasons for this, but usually it’s because of budget constraints or simply because they cannot find an insurer.

But there are considerable risks to going uninsured. First of all, some countries will not let you enter or leave without at least liability insurance – Panama being one example. The same applies to most harbours or marinas.

But the most important thing to consider when you sail uninsured is whether you can afford to lose your boat and equipment. Would being uninsured likely change your behaviour – would it make you less likely to issue a Mayday? In the case that you hit a reef, could you finance the cost of salvage and repairing environmental damage? Or the liability if you accidentally hit another yacht or a swimmer in the water?

“If you are considering sailing uninsured, there are insurers in the UK that will accept yachts for just the liability insurance,” says Ric De Cristofano of Topsail Insurance.

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Sailboat Insurance: Understanding Coverage and Cost

Sailing is a wonderful hobby that provides endless opportunities for adventure, exploration, and relaxation. Whether you’re a seasoned sailor or just starting out, protecting your investment with a comprehensive insurance policy is essential. Sailboat insurance provides coverage for damages to your boat and personal injury, and helps you stay financially protected in the event of an accident.

In this blog post, we’ll explore the different types of sailboat insurance, coverage options, and factors that impact the cost of insurance for your sailboat.

Table of Contents

Types of Sailboat Insurance

There are several different types of insurance policies available for sailboats. Some of the most common include:

• Hull Insurance : This type of insurance provides coverage for physical damage to your sailboat’s hull. This may include damages from storms, collisions, theft, or other incidents.
• Liability Insurance : Liability insurance covers you for damages you cause to others, such as injury to another boater or damage to another boat.
• Medical Payments Insurance : This coverage pays for medical expenses incurred by you or your passengers in the event of an accident on your sailboat.
• Uninsured Boater Coverage : If you are involved in an accident with an uninsured boater, this coverage will pay for your damages and medical expenses.
• Personal Effects Coverage : This coverage pays for damages or loss of personal items, such as clothing, electronics, or fishing gear, while on your sailboat.

Coverage Options

When choosing a sailboat insurance policy, it’s important to consider the coverage options that are available. Some of the key options include:

• Coverage Limits : The coverage limit is the maximum amount your insurance company will pay for a covered claim. You’ll need to determine what coverage limits are appropriate for your sailboat, taking into account its value and your potential exposure to risk.
• Deductibles : A deductible is the amount you pay out of pocket before your insurance coverage kicks in. A higher deductible can lower your insurance premiums, but you’ll need to weigh the trade-off between lower costs and increased financial risk.
• Watercraft Towing and Assistance : This coverage provides for towing and assistance in the event of a mechanical breakdown or other emergency.
• Navigation Limits : Some insurance policies limit where you can sail your boat, typically to coastal waters within a specified distance from shore. Make sure to understand the navigation limits of your policy and whether they are adequate for your sailing plans.

Factors That Impact Insurance Costs

There are several factors that can impact the cost of your sailboat insurance, including:

• The Age, Type, and Value of Your Boat : Newer, larger, and more expensive boats typically cost more to insure than older, smaller, and less valuable boats.
• The Location and Type of Use : Where and how you use your sailboat can also impact your insurance costs. For example, sailing in areas with high wind speeds, or participating in racing, may result in higher insurance premiums.
• Your Sailing Experience : Your sailing experience and training can impact your insurance costs, as insurance companies consider you to be a higher risk if you have limited experience or training.
• Claims History: Your claims history can also impact your insurance costs, as insurance companies consider you to be a higher risk if you have a history of filing claims.

In conclusion, sailboat insurance is a necessary investment to protect you and your investment. By understanding the different types of coverage, coverage options, and factors that impact insurance costs, you’ll be well equipped to choose the right policy for your sailboat. If you’re in the market for sailboat insurance, more it’s important to shop around and compare quotes from several insurance companies to find the best coverage at the best price. You can also work with a knowledgeable insurance agent to help you navigate the process and find the right policy for your needs.

When comparing quotes, make sure you understand what each policy covers, what your coverage limits are, and what your deductibles will be. It’s also important to review your coverage regularly and make any necessary changes as your sailboat and your sailing needs change over time.

Do I Need Insurance for my Sailboat?

As a sailboat owner, it’s important to consider the potential risks and liabilities that come with owning a vessel. While it’s not legally required in all states or countries, having insurance for your sailboat can offer peace of mind and financial protection in case of accidents or damages.

Here are some key factors to consider when deciding if you need insurance for your sailboat:

• Liability : If you accidentally cause damage to another person’s property or injure someone while sailing, you could be held financially responsible for their medical bills or property repairs. Liability insurance can help cover these costs.
• Property Damage : Your sailboat is a valuable asset that you likely want to protect. Property damage insurance can cover repairs or replacements in case of damage from weather, collisions, theft, or other incidents.
• Legal Requirements : Depending on where you live or sail, you may be required by law to have insurance for your sailboat. Make sure to research the laws and regulations in your area to determine if insurance is mandatory.
• Marina or Dock Requirements: If you plan on docking or storing your sailboat at a marina, they may require proof of insurance before allowing you to use their facilities.
• Personal Finances: Can you afford to pay for repairs or damages out of pocket? Insurance can provide financial protection and prevent unexpected expenses from draining your savings.

In summary, while insurance for your sailboat may not be legally required in all cases, it’s important to weigh the potential risks and liabilities and determine if the financial protection and peace of mind are worth the investment. Be sure to research and compare different insurance options to find the coverage that best fits your needs and budget.

How to choose a good insurance for your sailboat

Choosing the right insurance for your sailboat can be a challenging task, but taking the time to carefully evaluate your options and consider your needs will ensure that you get the best coverage for your investment. Here are some steps to help you choose a good insurance policy for your sailboat:

Determine Your Coverage Needs

Before you start shopping for insurance, take some time to evaluate what you need coverage for. Consider the value of your boat, your sailing habits and locations, and any other factors that may impact your risk.

Shop Around

Get quotes from several insurance companies to compare coverage options and prices. Make sure to compare policies that offer similar coverage, and don’t be afraid to ask questions to understand what each policy covers.

Check the Financial Stability of the Insurance Company

Before choosing an insurance company, it’s important to check their financial stability and reputation. Make sure the company has a good rating from agencies such as A.M. Best, and check for any negative reviews or complaints.

Consider the Deductible

The deductible is the amount you’ll pay out of pocket before your insurance coverage kicks in. A higher deductible will lower your insurance premiums, but you’ll need to weigh the trade-off between lower costs and increased financial risk.

Read the Policy Carefully

Once you’ve chosen a policy, make sure to carefully read and understand the terms and conditions. This will ensure that you’re fully aware of what is and is not covered, and what your coverage limits are.

Work with a Trusted Insurance Agent

An insurance agent who specializes in boat insurance can help you understand your options and find the best policy for your needs. They can also answer any questions you may have and provide valuable guidance throughout the process.

Conclusion on How to choose a good insurance for your sailboat

In conclusion, choosing a good insurance policy for your sailboat requires careful consideration of your needs and a thorough evaluation of your options. By taking the time to shop around, compare quotes, and understand your coverage, you’ll be well equipped to choose a policy that provides the protection you need.

Overall, investing in sailboat insurance provides peace of mind and protection against unexpected events, so you can focus on enjoying your time on the water. Whether you’re a seasoned sailor or just starting out, take the time to consider your insurance options and choose the coverage that’s right for you.

We hope this post has helped you understand the ins and outs of sailboat insurance. Stay safe and happy sailing!

Emily Smith

Emily Smith is a passionate sailor and travel enthusiast, who has spent the last 8 years exploring the world by boat. From the tranquil waters of the Great Lakes to the roughest oceans, Emily has sailed it all and decided to share the knowledge on Sailingbetter.com blog. With a keen eye for detail and a talent for storytelling, Emily offers readers an insight into the thrilling world of sailing and the beautiful destinations it can take you to. When she's not out on the water, Emily calls Chicago, Illinois home and enjoys sharing her love for sailing with others. Join her on her journey as she continues to discover new horizons and inspire others to live life to the fullest.

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Sailboat insurance: an essential guide

Looking into insuring your sailboat? Dive into this guide for clear insights on terms, coverage, costs, and essential considerations.

Owning a sailboat is a thrilling experience, but like any valuable asset, it carries its potential risks. Yachting insurance serves as a vital shield against these threats. However, the often complex language of insurance can pose a deterrent for enthusiasts.   This guide seeks to simplify these complicated terms, explaining the workings, coverage, value, costs, and critical aspects of such insurance. Our goal is to empower you with essential insights to confidently navigate the insurance landscape.  

How does yachting insurance work?  

Sailing insurance serves as a financial shield against the various risks that come with this maritime passion. Its critical role is to protect the substantial investment made in the vessel, offering reassurance for every venture out to sea.  

Although this may vary by jurisdiction, standard coverage typically includes protection against physical damage to the yacht, personal injuries, and third-party liability - plus a host of add-ons available to cater to specific needs. Given the specific nuances of sailing, additional coverages such as storm damage, rigging coverage, or overseas use may be especially important. In the unfortunate circumstance of an accident or mishap, the insurance policy steps in to bear the cost of repairs, replacement, legal obligations, and even medical expenses.  

Sailing insurance: What does it typically cover?  

Understanding the breadth of coverage offered by a yachting insurance policy is pivotal in ensuring optimal protection. Typically, these encompass: 

Hull and machinery coverage: Protects against damage to the vessel and its crucial components, catering for repairs or replacement costs. 

Personal accident cover: Addresses financial implications of injuries to the boat's occupants, covering medical costs and potential loss of income. 

Public liability insurance: This applies when the boat is involved in an accident causing injury or damage to third parties. It covers legal expenses, settlements, and damage repair for others. 

Salvage and wreck removal: This covers the cost of recovering and removing the boat's wreckage following an accident.  

Additional coverages can be considered to provide a more extensive level of protection, such as: 

Emergency assistance: Provides emergency services like towing or on-site repair in case of breakdowns. 

Personal effects coverage: Protects personal items brought onto the boat, such as fishing gear or electronic devices. 

Rigging coverage: Rigging is a critical part of any sailboat, and damage to it can be costly. Not all policies automatically cover wear and tear on rigging, especially damages caused by heavy winds. Therefore, it's crucial to confirm whether your chosen policy specifically addresses these scenarios. 

While the above-listed coverages form the basis of a standard policy, it's important to note that factors such as inshore or offshore use, cruising, or regatta participation can influence the insurance policies. Different sailing boat insurance providers offer a range of additional options to tailor coverage to these individual needs. So, be proactive. Effective communication with your representative can make all the difference! 

Is boat insurance worth it? 

The answer is a resounding 'Yes!'. Yachting insurance not only manages risk but also underpins the enjoyment and freedom that it represents.  

Across different jurisdictions, sailboat insurance requirements vary. However, if you've financed your yacht with a loan or if you dock it in a marina , your lender or the harbor management might mandate proof of coverage.  

Risks unique to sailing and boating  

Sailing yacht insurance proves its worth in a myriad of unforeseen scenarios. Consider a situation where a sudden storm damages your sails or rigging, or an unexpected grounding causing hull damage. The cost implications of repairs can mount up, presenting a daunting financial burden. 

Its value, though, is not limited to only these overt threats. It safeguards against more subtle but equally consequential risks tied to extreme weather conditions, sea-based hazards, and equipment failures - such as malfunctioning winches or navigation equipment - situations in which the benefits of having sailing insurance offshore become vividly apparent. 

Boat insurance cost: What price tag are we looking at?  

Navigating sailboat insurance costs can be as tricky as steering through choppy waters. Premiums can fluctuate significantly, mirroring each vessel's broad spectrum of variables and characteristics.   

Understanding your sailing insurance quote  

Generally, insurance costs fall within a range of 1% to 5% of the boat's value. But, it isn't merely an arbitrary number pulled out of thin air; it's a meticulously calculated figure embodying many components.   

Safety measures: Boats equipped with safety features might get discounts.  

Storage and mooring: Safe storage can lower the risk of damage and theft, reducing insurance costs.  

Frequency of use: Less frequently used boats may have lower premiums.  

Offshore sailing: Offshore sailing generally requires more comprehensive and costly insurance.  

Racing or regatta participation: If you participate in races or regattas, this may increase your premium due to the heightened risk.  

H ow to get boat insurance? Choosing the right provider 

Here's a pearl of wisdom: don't anchor your decision solely on price! Yachting insurance is about charting a course towards peace of mind, ensuring your sailing pursuits are aptly shielded.  

Embarking on your coverage journey starts with comprehending your unique sailing needs, canvassing and contrasting various quotes, and meticulously evaluating policy inclusions, exclusions, and stipulations. This due diligence serves as your bulwark; if navigated carefully, it's an investment that will weather many a storm, letting you enjoy the adventure without the nagging worry of unforeseen troubles lurking beneath the surface. 

Yachting insurance provider: what to look for  

Look beyond the allure of competitive premiums. Gauge the company's reputation - does it have a history of fairness and transparency in its dealings? Evaluate the quality of customer service - will they respond quickly and efficiently when you need them the most? Ascertain the smoothness of their claims process and if they're known for hassle-free claim settlements. Importantly, verify their financial stability to ensure that even in the face of a significant claim, they can deliver on their promise of protection.  

SKISAFE BLOG

Sailboat Insurance Guide: Cost Coverage and More

Navigating the wondrous waters of the world under sail brings an experience that can’t be replicated anywhere else. Whether embarking on exhilarating voyages off the coast or simply enjoying small moments at your local lake, it’s important to protect yourself with adequate sailboat insurance. 

In this article, we round up the many aspects of boat insurance and explain everything you need to know about sailboat coverage. 

Sailboat Insurance: The Basics

Your sailboat needs protection when it’s in use, stored, floating at the dock, or in dry storage. To summarize, it can get damaged anytime, anywhere. You’re also liable for expenses if you injure someone else or damage someone else's property. 

Sailboat insurance is designed to protect both you and your vessel from financial loss. Depending on the coverage and limits of the policy, your insurance may protect you from any one of those scenarios. 

At SkiSafe, we are equipped to insure all types of vessels, from personal watercraft to yachts to sailboats. Instead of applying ‘one-size-fits-all’ policies across the board, we offer highly customizable coverage options that safeguard your needs as a sailboat owner and operator. 

SkiSafe Sailboat Insurance

A policy that covers your sailboat for damages it could incur is referred to as an “all risk” plan. This type of policy covers your boat from various perils, like fire, collision vandalism, theft, and more. It also considers other risks like bodily injury or property damage to others.

» MORE: Comprehensive Boat Insurance Coverage - What It Is and How to Get It

Policies can include coverage for weather-related events as well, such as strong winds, freezing temperatures, and hurricanes. In addition to these protections, sailboat insurance policies can provide coverage for wreckage removal, fuel spill cleanups, towing/roadside assistance, mechanical breakdowns, and more. 

Since sailing vessels have rigging, sails, and other equipment that is different from power boats, there are a few specifics to consider when getting insurance for a sailboat . These considerations are dependent on the specific vessel and navigation territory, which is why it’s critical to partner with an insurer like SkiSafe that has extensive boating knowledge.

Sailboat Insurance: Requirements

Most states do not require sailboat insurance unless you live in Utah or Arkansas. 

Typically, there are two scenarios when you’re required to have an insurance policy on your sailboat:

• If you have a loan on it and your lender requires an insurance policy to protect their investment. 
• If you want to store your sailboat at a marina or yard and they require you to have liability insurance to do so. 

Even if you’re not required to obtain insurance for your sailboat, you should not leave a significant and valuable purchase uninsured. Coverage for potential damages or liabilities could save you from a hefty bill down the road. 

Sailboat coverage is especially important if you:

• Sail regularly
• Have a new, expensive sailboat
• Live in an area with unpredictable weather conditions
• Can’t afford the out-of-pocket cost if the sailboat was damaged, experienced a loss, or was stolen.

Sailboat Insurance: Cost 

The cost of sailboat insurance varies by the age of the vessel, its length and value, and location, along with other factors unique to you and your sailboat. Rates are also affected by the coverage limits on the policy. 

Your premium is only a fraction of the cost compared to paying for a major repair or replacement out-of-pocket. Sailboat insurance coverage is actually one of the most affordable, yet rewarding bills associated with owning watercraft.

Plus, there are several ways to cut costs and bring down your boat insurance rate. You may qualify for a discount, like completing a certified boating safety course, navigating your boat in a limited territory, etc. Having sailing history or experience is another plus when it comes to your insurance rate. Typically, if you have a long, safe track record of sailing, it will be reflected favorably in your premium. 

What You Need For a Sailboat Insurance Quote

If you’re ready to get a quote from SkiSafe and protect your sailboat, there is some basic information you’ll need to provide:

• Make and model
• The year it was built and its length
• Hull Identification Number
• Where and how it will primarily be stored
• Your name, address, email address, and boating history

Average Sailboat Insurance Cost

Last Updated by

Daniel Wade

June 15, 2022

‍ Sailboat insurance is often less expensive than auto insurance, but rates vary based on several important factors.

Sailboat owners typically pay between $250 and $1,500 per year to insure their sailboats. This cost varies based on a number of factors, including policy type and coverage amounts. Sailboats are usually less expensive to insure than powerboats.

In this article, we’ll go over the average costs of sailboat insurance for typical production fiberglass cruising vessels. Additionally, we’ll go in-depth on the factors that contribute to premiums, along with how to reduce the cost of a good sailboat insurance policy.

We sourced the information used in this article from our own analysis of insurance industry averages. We also considered information provided by boat insurance companies, along with the policies they advertise.

Table of contents

‍ Average Annual Sailboat Insurance Price

Sailboat insurance varies, but owners rarely pay more than $1,000 annually for basic coverage. This is considering that the vast majority of sailboats are fiberglass production cruisers between 20 and 40 feet in length, and they aren’t used as often as automobiles.

Sailboat insurance prices range between $250 per year for the most basic coverage (liability, small boats with infrequent use) to $1,500 for comprehensive coverage (average-sized older vessel with somewhat regular use).

But if we were to establish a general rule about sailboat insurance, it’s this: it’s cheaper than car insurance. Sailboat insurance is usually an insignificant cost compared to mooring fees and maintenance.

Is Sailboat Insurance Cheaper than Powerboat Insurance?

Yes, sailboat insurance is usually cheaper than powerboat insurance, even if your vessel comes with an engine. This has a lot to do with speed, power, and accident rates.

Speedboats are particularly expensive to insure, as they’re more dangerous and accident-prone. The cost to insure a small speedboat is often comparable to a large sailboat.

Types of Sailboat Insurance Coverage

There are several types of coverage with different pricing rates. The actual name of these different coverage types varies between companies. But generally speaking, here are the broad types of insurance that you can get for your sailboat.

Basic Liability and Salvage Coverage

The most inexpensive coverage is basic liability, which usually covers accidents you cause only. It doesn’t cover your repair costs, but it does cover damage to other boats, medical expenses for injuries, and wreck removal.

Specialized or Custom Coverage

Specialized coverage varies most in price. This kind of coverage is determined by the owner and covers modifications and expensive equipment.

Let’s say a sailboat owner buys a basic new Catalina 315, then outfits it for offshore use. He installs solar panels, an autopilot, a Garmin radar set, and a costly set of automatic winches and hardware.

With a specialized insurance coverage plan, he can add the value of these very specific items to his repair and replacement plan in case the boat gets damaged or lost along the way.

Comprehensive Coverage

Comprehensive plans offer significantly more coverage. These policies offer towing services, damage costs for you and other boats, uninsured boater protection, repairs and replacement parts, and emergency assistance for things like dead batteries and running out of gas.

What Factors Contribute to Sailboat Insurance Premiums?

Sailboat insurance works much like car insurance, but there are some differences. Like car insurance, sailboat insurance premiums are based on factors including your accident record, the value of your boat, your location, and how often you use the vessel.

Operator Boating Record

Citations and accidents are some of the most important insurance cost factors. This makes sense, as a long history of responsible boating reduces the risk that the company will have to payout.

A minor incident won’t ruin your premiums, but a history of crashes and BWIs will certainly limit your options and increase sailboat insurance prices.

Experience plays a role as well. Documented boating experience, such as policies on other vessels or professional captain certifications, can greatly reduce the cost of sailboat insurance.

Operator Age

Age is another important factor for insurance premium prices. The ages that get the best rates are between 50 and 60. If you look at it on a chart, you’ll see insurance rates top out around age 16 and slowly decline until age 70. At this point, insurance rates begin to increase—but never to the level of a young person.

Sailboat Value

The value of your sailboat also plays a big part in your insurance costs. For example, a $500,000 classical schooner is certainly going to cost more to insure than a clunky $10,000 fiberglass sloop, especially because the owners of more expensive boats generally opt for more coverage.

Agreed Value vs. Actual Value

How does an insurance company decide what to pay out if your boat is a total loss? There are two primary ways these policies work: with either agreed value or actual value.

 Actual value policies are common for new boats, as their value is easy to determine. If a new (or late-model) boat is worth $150,000, then that’s the cost the insurance company will usually cover to replace the vessel.

Agreed value is more common for older and classic boats, as the procedures used to calculate their value aren’t always reliable. Factors such as rarity, design, desirability, and condition may not reflect clearly in analytics—but do on the market.

Agreed value is a number that the owner and the company settle on. It is more holistic than the actual value, as the actual value may be impossible to accurately calculate for some rare and vintage vessels.

Sailboat Age

The age of the vessel has an impact on insurance rates. Usually, an older vessel is thought to be less valuable to a point. This means that a 1970 sailboat is usually cheaper to insure than a 1990 sailboat. The cost difference can be negligible beyond ten years of age, but it’s higher with late-model vessels.

Sailboat Type

Different kinds of sailboats have different insurance rates. Factors under this category include a number of hulls, size, displacement, and cruising characteristics. For example, speedy trick race boats made with carbon fiber are more expensive to insure than bulky fiberglass cruisers.

Location plays a big part in average sailboat insurance costs for a number of reasons. For example, sailboats used in freshwater are typically cheaper to insure than saltwater.

Also, sailboats moored in areas prone to severe weather tend to have higher insurance premiums. For example, premiums in Florida or South Texas account for hurricanes, while premiums in central Oklahoma account for large hail.

Does Your Driving Record Affect Average Sailboat Insurance Cost?

Absolutely; your driving record can have a dramatic effect on your ability to find favorable sailboat insurance rates. This is because insurance needs to consider you and the boat—and how risky you (as a captain) are to insure.

Car accidents, moving violations, citations, and DUIs are detrimental to insurance premiums on and off the water. And they will find out, regardless of what company you choose. Risky drivers are almost always risky boaters as well.

But your driving record can also work in your favor. You may be a new boater who hasn’t had a chance to prove yourself yet. If sailboat insurance and auto insurance had no correlation, you’d be treated like a brand new driver for years, even if you’ve had experience. A safe driving record can reduce your costs and increase coverage options.

Does Liveaboard Sailboat Insurance Cost More?

Yes, liveaboard insurance tends to cost more. This is because you’re on the boat constantly and engaged in activities like cooking, bathing, and electricity use. All of these activities carry risks, which must be considered.

Additionally, liveaboard insurance policies can cover more than typical comprehensive coverage. This includes assets inside the sailboat, such as furnishings, computers, equipment, and other possessions.

Average Sailboat Insurance Costs Differences For Men and Women

Insurance companies consider risk on a wide scale, and they notice trends that are large enough to make a cost difference. One pricing factor to consider is that, after age 27, men tend to pay higher insurance premiums than women.

There’s a simple reason for this—men crash and commit violations more often. Insurance companies have found that, on average, men are more likely to engage in dangerous boating behavior, and thus they are riskier to insure.

The price difference is typically pretty small—between $10 and $100—but this gap widens with accidents, DUIs, and other detrimental incidents. Generally speaking, women can enjoy lower quotes and lower premiums if they have a clean driving and boating record.

How to Reduce Sailboat Insurance Premiums

Reducing your premiums is actually fairly simple, and there are strategies that take only a few hours to complete. The easiest way to reduce your sailboat insurance premiums is to take a boater’s safety course or to get your boating license, even if you’re not required to by law.

You can also reduce your premiums by increasing your hull deductible. This strategy will cost you more out of pocket in the event of an accident, but safe boaters can usually contend with the risk.

Seasonal insurance rates can also be reduced if you haul your boat out or winterize it correctly. If the boat sits in storage for six months of the year, like in a dry slip or a boatyard, you can usually get a pretty hefty winter discount.

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I've personally had thousands of questions about sailing and sailboats over the years. As I learn and experience sailing, and the community, I share the answers that work and make sense to me, here on Life of Sailing.

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Insuring your sailboat: what you need to know.

By Mary Wilson • August 31, 2022

Boat Insurance

Sailing has been a primary means of travel and maritime trade dating from prehistoric times to the mid-19th century. Today, sailing is a beloved pastime that involves cruising the open water or engaging in friendly competition. However, you choose to enjoy this timeless sport, feeling the wind rush through your sails and navigating the sea can be rather unpredictable. That’s why the National Boat Owner’s Association (NBOA) offers the best sailboat insurance for every budget and lifestyle. Whether you have a brand new boat or a classic wooden boat, choosing the best insurance for your sailboat can sometimes be daunting. Fortunately, here at NBOA, we have trusted professionals who can help you find an ideal sailboat insurance provider and aid you in finding a policy that fits your lifestyle, budget, and needs. 

Considering Your Options 

Before you begin the journey of insuring your sailboat, there are several things to consider; for example, what kind of insurance coverage best suits your needs? A comprehensive insurance plan can cover incidents like sinking, boat fires, theft, and vandalism. Policies may also cover weather damage; however, this will vary regarding the type of destruction due to storms. Comparing the different types of coverage side by side will ensure that you get the best sailboat insurance policy for you and your boat with coverage that will give you peace of mind.  

The Cost of Sailboat Insurance

The cost of sailboat insurance can be affected by a myriad of factors. The first step in determining what your sailboat insurance may cost is to identify the attributes of your boat. Many insurance companies have age, size, and value limits, which may affect the pricing and availability of different coverages. For example, a Catamaran’s design and price often cause its insurance to cost more than a typical monohull due to its increased number of hulls and engines. Hull type, length, amenities, and how frequently you use your boat can also affect your insurance prices. To gauge the cost of your own sailboat insurance, visit NBOA and apply for a quote today. 

Insurance for Classic Sailboats vs. Modern Sailboats

Insurance for classic sailboats differs from that of newer sailboats, and several things are considered when determining the price of coverage. When looking for a quote on a classic sailboat, it is critical to know these seven factors. 

• What kind of boat is it?
• How much is the boat currently valued at?
• What is the hull of your boat made of?
• Does your boat have any existing damage?
• How often do you take your boat out on the water?
• Where do you usually sail your boat?
• How often do you perform maintenance?

When planning to finance an older boat, it’s also helpful to know the type of sailboat you own, such as a Cutter, Sloop, Yawl, or Catboat. The size and classification of your vessel can affect the insurance. In addition, boats are also valued based on age. According to the Antique and Classic Boat Society , there are five main classifications of boats based on age, including historic (constructed before and up to 1918), antique (built between 1919 and 1942), classic (made between 1943 and 1975), late classic (constructed between 1976 to 1997), and contemporary (built within the past 25 years).  It is also important to note that wooden boats are more difficult to preserve and sometimes more challenging to insure.

Salvage Sailboat Insurance

Salvage boats aren’t as easy to insure as brand new boats, since they pose a higher risk of damage or injury. One of the best things you can do to increase your chances of obtaining great boat insurance for your salvage boat is to carefully maintain documentation and track the damages and repairs of your vessel. Highly damaged watercraft are at an increased risk of repairs giving way or needing frequent attention and, therefore, can be a significant liability. 

Insurance for Chartered vs. Purchased Boats

Did you know that many boaters don’t actually own their boat? Instead, they often decide to charter one. Boat chartering is similar to renting a boat and has a unique kind of insurance with some more specific coverage options. Suppose you are a boater that does not assume complete ownership of your watercraft. In that case, it can be critical to obtaining sailboat insurance with hull coverage, Bumbershoot coverage, and general liability, outlining protection and indemnity, or coverage for legal liability. 

Insurance Considerations for Oceanic Voyages

For old sailboats, in particular, insurance changes based on how you use or intend to use the boat. Crossing an ocean or even cruising up and down coastlines will most likely increase the price of insurance. Sailing can be a dangerous endeavor, and sailing short distances in and around your community will have a much lower risk than sailing across the sea.

Securing the ideal sailboat insurance to protect you and your investment is simple with assistance from the experts at NBOA . With guidance every step of the way, this daunting process will quickly become smooth sailing.

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Jessica Huneck is an insurance writer from TrustedChoice.com. She began her writing career in 2011 and has since earned herself a bachelor's degree in English writing.

Few activities offer such a sense of freedom, self-reliance, and accomplishment as guiding a sailboat across crystal blue waves. Maybe you are a long-time sailboat owner and you are wondering whether you can find better rates or lower costs on your sailboat insurance. 

Maybe you just spent the weekend at a boat show window shopping for schooners and wonder what your boat insurance costs might be. Either way, a local independent insurance agent can help.

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Our independent agents shop around to find you the best coverage.

Sailboat Safety Statistics

• Sailboats have a better safety track record than powered watercrafts.
• In 2011, there were 10 deaths of sailboat operators/passengers, according to the U.S. Coast Guard.
• Sailboats accounted for 27 total non-fatal injuries that same year, compared to 1,610 non-fatal injuries on open motorboats.

Is Sailing Insurance Required?

For most watercrafts, there is no state or federal law that mandates boat insurance . However, sailboats are an exception. Many people are surprised to discover that, unlike other types of boats, sailboats must be insured to operate on U.S. waters. 

Therefore, if you have just purchased or are planning to buy a sailboat, be prepared to have at least some coverage before you take it out on the water.

If you plan to finance your sailboat purchase through a bank or credit union, your lender will almost certainly require you to insure the craft against catastrophic damage. 

Moreover, many marinas and storage spaces require that boat owners insure their crafts before docking there. Getting coverage in place to protect your sailing dinghy will provide both protection and peace of mind.

What Kind of Sailboat Insurance Do You Need?

Choosing a sailboat policy can be challenging because every boat owner has different requirements. The options available to you will differ from one insurance company to another. Therefore, it is important to compare policies and ensure that your coverage matches your needs. 

An independent agent can compare premium rates and coverage from several different insurance companies so that you can see the best options on the market today.

If you're curious about whether or not your homeowners insurance will cover your boat, look carefully at your home policy first. Typically, homeowners policies will only offer coverage for a limited scope of incidents. 

You may have low coverage amounts for your boat under your homeowners insurance, or you may only have coverage for times when your boat is parked at your residence. 

Either way, it is advisable to speak with your insurance agent, and consider purchasing a sailboat insurance package to adequately cover your risks.

In order to protect your sailboat and your finances, your insurance could include some or all of the following:

• Bodily injury liability insurance : Bodily injury liability protects you in the event that you injure another person, whether that person is on another boat or a dock, or is a passenger on your sailboat. Due to the costs of medical care and potential legal fees, this is an important insurance option to consider.
• Property damage liability insurance : Property damage liability insurance covers you in case you damage another boat, a dock or other property belonging to someone else. If you plan to dock your sailing vessel, or if you plan to operate in busy areas where you risk hitting another watercraft, property damage liability coverage can provide important protection.
• Comprehensive coverage : If your boat is stolen, vandalized or damaged in a fire or severe storm, comprehensive insurance can help you cover your costs. Comprehensive coverage can also protect your personal items if they are stolen from the sailboat or lost while you’re out on the water.
• Towing and emergency assistance: Similar to roadside assistance for your car, this type of coverage can help if your sailboat is disabled for any reason out on the water. Depending on the insurance company you choose, you may also have the option to buy on-land towing coverage as well.

How to Find Sailboat Insurance

As a sailboat owner, you need to find the right coverage for your particular vessel, whether you own a mid-sized sloop or a 72-foot catamaran. You also want to ensure that you are in compliance with the local laws and regulations of your state.

Risks and concerns can vary widely depending upon the type of craft and how and where you sail. For example:

• If you boat exclusively on a private local lake and never need to tow the craft, you may need a minimal amount of coverage to protect your vessel against storm damage and theft.
• If you take passengers on tours for pay, whether as a sole proprietor, or as a part of a larger business, it is a good idea to take a close look at your liability coverage and ensure that you are adequately insured for potential injuries and property damage claims.  You may also need commercial insurance coverage .
• If your sailing vessel is a high-value boat, such as a yacht or megayacht , you will need a specialized insurance policy that adequately protects your investment.

In the end, it's a good idea to make sure that your insurance coverage can match your usage and your risks on the water.

An online search for sailboat insurance is a great way to efficiently collect quotes and preliminary data about the insurance coverage and costs in your area.

Take Home Message for Smooth Sailing

No matter what type of craft you own, your sailboat faces a number of hazards while out on the water, while you are towing it to and from the waterway, and even while it is moored or stored for the off-season.

It's important to get some help assessing your risks, and get insurance that's going to protect you financially in the event of an accident. 

Whether you choose to look for insurance online, call around to several insurance companies, or work with an independent agent , just make sure you're getting the right coverage at a competitive price. Comparing quotes is an excellent way to do this - just make sure you're making apples-to-apples comparisons.

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Welcome to bluewateryacht insurance | boat insurance | sailing insurance.

BluewaterYacht Insurance (BWYI) is headquartered in Jupiter, FL, but we insure boats and cruisers worldwide. For over 30 years, BluewaterYacht has insured boats and cruisers all over the world, including the Caribbean Sea (Bahamas, Virgin Islands, Grenada, Lesser Antilles, and all over the West Indies), Trans-Atlantic Passages, transit through the Panama Canal, Mexico, Canada, Hawaii, Japan, and Italy. We also provide quotes and insurance for trips to Cuba.

Boat Insurance Policies

Our boat insurance policies are specific to active cruisers. BluewaterYacht Insurance is backed by A+ rated underwriters who are leading underwriters of marine insurance policies worldwide. We cater to the offshore cruising community, skipper charters, captain charters, and Caribbean cruisers.

Thirty years ago, BluewaterYacht Insurance developed the first two-crew, worldwide navigation program for the Seven Seas Cruising Association. Today, we insure thousands of cruising yachts all over the world. We also offer single-hand sailing quotes and policies.

Boat Insurance Quote System

Our exclusive online boat insurance quote system allows you to get a  quote for yacht insurance, sailing insurance, or boat insurance  in a matter of days (occasionally, same day). If you compare our quotes "apples to apples" to your current policy or to another quote, our marine insurance policies have the lowest prices and best coverage!

We Value Your Privacy

In addition, we value your privacy. Any information you enter on our quote form is held in confidence between you and us. We will never sell, trade, or rent your personal information to others. This privacy statement discloses how the information you provide is used and protected.

Sailing Travel Insurance: The Complete Guide to International Health and Travel Insurance for Sailors, Cruisers and Liveaboards

Choosing the right sailing travel insurance is a little bit like choosing a good anchorage; it has to work for the current and forecasted conditions. This article aims to tease apart the surprisingly difficult challenge of choosing the best sailing travel insurance. That is, health and travel insurance covering medical expenses, personal belongings, and trip disruption when you are sailing outside your home country on a permanent or semi-permanent basis.

For a long time, liveaboards and cruisers that are sailing outside their home countries have had to make do with traditional travel insurance to cover them for emergency medical and travel costs. However, this style of insurance, specifically designed for holidays and short to medium-term trips, has some serious limitations when it comes to insuring the specific needs of sailors.

But that is no longer the case. With the rise of nomadism, remote workers , van life , sail life, and other ‘untethered’ lifestyles, a variety of solutions are coming to market that may better serve the needs of the international liveaboard community.

We have been living a nomadic lifestyle since 2018, backpacking and traveling by van and by sailboat .

During that time we have had to rely on our travel medical insurance twice. We were glad both times that we were properly insured. Now, we are fairly conscientious about ensuring we have the right insurance for whatever we do.

If you are looking for a travel and health insurance solution that meets your specific needs for long-term sailing adventures, then this article might be helpful.

* This article is focused only on health and medical insurance and travel insurance for personal items. It excludes boat and liability insurance, which is a separate (yet equally important issue ) .

Non-traditional health and travel insurance aimed at nomads, long-term travelers, and remote workers can better meet liveaboards, cruisers, and other sailors living abroad permanently or long-term than traditional travel insurance models. Consider World Nomads for short sailing holidays and SafetyWing for liveaboards sailing and living by the coast.

* SafetyWing is a great product for us because of its affordability, simplicity, and flexibility. You will need to weigh the policy against your specific needs and other available products to decide if it fits you best. If you do decide to take out SafetyWing Insurance and we helped with your decision, please consider using our links. You won’t pay any more, and we will receive a commission.

What Should International Health and Travel Insurance for Sailors Cover?

To identify the health and travel insurance needs specific to you as a sailor, it’s helpful first to identify the unique risks associated with living and traveling on a sailboat, such as maritime-specific emergencies, weather-related incidents, and, of course, extended if not indefinite periods away from home. As a sailor, some of the inclusions or restrictions you might need to think about are

• Medical Emergencies and Evacuation: Coverage for medical emergencies is vital, particularly for issues requiring airlifts or transportation to a medical facility. This is crucial when sailing in remote areas where local medical services may be inadequate.
• Global Health Insurance: Global health insurance is recommended for those spending extended periods at sea, especially in international waters. This insurance should cover all medical expenses, including long-term and emergency treatment, dental, eye health, maternity, and chronic conditions​ ​.
• Personal Belongings: Insurance can also cover loss or damage to personal belongings whilst traveling.
• Specific Exclusions and Conditions: It’s important to be aware of exclusions, such as sailing beyond a certain distance from shore, racing, professional sailing, boat rental damage, and search-and-rescue missions.
• Additional Coverage Options: Insurance should include coverage for any activities outside the scope of regular sailing or travel, including diving, kiteboarding, surfing, racing, offshore sailing, etc.

Whatever insurance policy you take out, it’s essential to read the fine print and ensure that your specific needs, based on your sailing route and lifestyle, are covered.

Why Do I Need Sail Life Health Insurance or Travel Insurance?

For sailors living abroad, having health and travel insurance is critical for several reasons.

• Medical Emergencies at Sea: The possibility of medical emergencies at sea, often far from shore, necessitates coverage that includes evacuation and treatment in remote locations.
• International Regulations: Sailing often involves crossing international borders, where local healthcare systems might not provide coverage without insurance. Moreover, insurance is a requirement of entry for many countries.
• Protection Against Weather and Maritime Risks: Unpredictable weather and the other hazards and risks that come with living at sea can lead to emergencies requiring insurance coverage.
• Financial Security: Given the high costs associated with maritime emergencies and healthcare in foreign countries, insurance can ensure financial security.

Can I Use Traditional Travel and Health Insurance for Sail Life?

Yes ! Traditional travel insurance can sometimes serve as a suitable safety net; in fact, we have used it for years.

However, in many situations, the specific issues facing sailors fall outside the scope of traditional health insurance. The reality is that travel insurance has been designed for short-term trips with a fixed itinerary and an end date in mind, and often isn’t well suited for any long-form, semi-permanent permanent travel or nomadism like sail life.

The Problem With Standard Travel Insurance for Liveaboards

There are lots of examples of when the nature of a liveaboard lifestyle doesn’t meet the requirements of traditional insurance products.

For example,

• Policies may not adequately cover incidents that occur far from shore or in international waters.
• Many standard policies exclude coverage for activities deemed high-risk, such as long-distance or open-water sailing.
• Insurance companies often require travelers to provide specific journey start and end dates and evidence such as flight or transportation reservations to validate these dates. However, this can pose a challenge for those leading a nomadic lifestyle at sea, as their schedules tend to be more open-ended and less defined, and their travel is typically self-guided rather than reliant on pre-booked transportation.
• Likewise, numerous insurance providers won’t process claims until after the journey has concluded. The indefinite nature of many sail life adventures makes this type of policy ineffective.
• Many insurance companies rely on a home and mailing address, which, once more, is not something liveaboards have access to.
• Frequently, insurers require applicants to be in their home country to obtain insurance coverage, adding an extra layer of complexity for sailors living abroad who seldom find themselves back in their home country.
• Sail life often involves extended periods at sea, while standard travel insurance is typically designed for shorter trips and often has a maximum trip duration they will insure.
• The majority of traditional insurance policies are sold with a predetermined duration, and if you opt to prolong your trip, you might encounter challenges with some insurers. They may be unable to extend or modify existing policies or issue new ones while you are outside the country.
• Insurers may have rigid rules about the specific countries or regions you can visit and whether you can make changes to your travel route after you’ve already embarked on your journey.
• Insurers can be overly stringent when it comes to the types of activities in which you can engage.

That being said, If you are planning a brief sailing trip abroad, perhaps renting a boat, and you know your dates then maybe traditional travel insurance is for you. For this sort of travel insurance, World Nomads offers competitively priced single and multi-trip policies to citizens of over 140 countries. We have used them extensively, and as a traditional insurer, they are great!

Nomad Travel and Health Insurance Providers for Sail Life

When choosing a travel and health insurance provider for sail life, selecting a company that understands the unique challenges and risks of living at sea is crucial. Here are some factors to consider:

• Global Reach: Choose a provider with a global reach and experience in handling claims and assistance around the world, as sailing often involves international travel.
• Flexible Plans: Providers should offer flexible plans that can be adjusted based on travel patterns, destinations, and the length of the journey.
• Customer Support: Opt for providers with strong customer support, especially offering 24/7 assistance, which is crucial in emergencies at sea.
• Reputation and Reviews: Research the provider’s reputation in the market, customer reviews, and feedback from fellow sailors to gauge reliability and service quality.
• Specialized Coverage: Look for providers that offer specialized nomad insurance plans catering to sailors. These plans should include coverage for medical emergencies, evacuations, and sailing-related activities.

Some well-known providers that offer nomad insurance suitable for full-time or part-time sailors include SafetyWing and IMG Global. Each of these companies has different plans and coverage options, so it’s important to compare and choose one that best fits your specific needs and sailing lifestyle.

For individuals living a sailing life and seeking nomad travel and health insurance, several providers stand out for their tailored coverage and services:

• SafetyWing: SafetyWing specializes in providing insurance to digital nomads and those living a travel-centric lifestyle. Their plans are designed to be flexible and affordable, making them suitable for long-term sailors and travelers​ ​.
• GeoBlue Navigator: This provider is noted for its excellent customer service and fast claims processing. GeoBlue Navigator offers coverage, including any doctor outside the US and the BlueCross/BlueShield network inside the US. They also provide helpful online tools for finding medical assistance in foreign ports, making it a suitable choice for sailors​ ​.
• Cigna: Cigna offers flexible plans where components like outpatient, inpatient, evacuation, and dental/vision coverage can be added as needed. This flexibility allows sailors to tailor their coverage according to their specific needs and sailing destinations​ ​.
• IMG Global Medical: Known for its annual renewable plans, IMG offers a range of options from basic to comprehensive coverage. They have a reputation for good customer service and broad coverage options, including plans that cover pre-existing conditions​ ​.
• Insured Nomad: Their Nomad Health Insurance plan is a long-term international health insurance plan, ideal for those living a global lifestyle. It offers coverage by region, with travel accident benefits and various health benefits, including vision, dental, and preventive care​ ​.
• Global Rescue: Specializing in evacuation, Global Rescue is the only plan that offers evacuation from a sailboat in a medical emergency. Once stable, they provide transport from any hospital to your choice of hospital and can send a triage team for immediate assistance​ ​.

These providers offer a range of options tailored to the unique needs of individuals living a sailing life, ensuring coverage for both health and travel-related risks. It’s important to carefully evaluate each provider’s plans to find the one that best suits your specific requirements and sailing itinerary.

SafetyWing Nomad Insurance for Sail Life

We use SafetyWing Nomad Insurance when sailing. However, what’s right for us may not be right for you. Consider your own situation and the individual policies before making a decision.

SafetyWing offers nomad insurance that is particularly suitable for those embracing sail life. Here’s a detailed look at what SafetyWing offers, along with its pros and cons:

• Global Coverage: SafetyWing’s nomad insurance provides global coverage, making it ideal for sailors who travel internationally.
• Flexibility: Their flexible policies allow you to start and stop coverage as needed, which suits our flexible lifestyle.
• Affordability: SafetyWing is known for its affordability, offering competitive rates for comprehensive coverage. We found that coverage for both of us under the Safety Wing was cheaper than insuring one of us on a traditional policy over the long term.
• Medical and Travel Insurance: Their plans can cover both medical emergencies and travel-related issues, such as trip interruption and lost luggage.
• Coverage Limits: While SafetyWing offers essential coverage, it might have limits in terms of maximum coverage amounts. It’s important to understand these limits and how they could impact claims.
• Exclusions: As with any insurance policy, there are exclusions. It’s important to review these, especially for activities specific to sailing that might not be covered.
• Pre-existing Conditions: SafetyWing has specific restrictions on coverage for pre-existing medical conditions.

Overall, SafetyWing’s nomad insurance is a popular choice for those living sail life due to its flexibility, affordability, and comprehensive coverage tailored to the needs of nomads and long-term travelers. However, like with all insurance, it has certain limitations that need to be adequately understood in relation to your own specific travel and sailing plans.

Final Thoughts on Choosing Sailing Travel Insurance

When selecting international health and travel insurance for sail life, it’s important to consider several key factors:

• Understand Your Needs: Assess the specific risks associated with your sailing lifestyle, including the regions you plan to sail in and the nature of your sailing activities.
• Look for Specialized Coverage: Choose a comprehensive policy for medical emergencies, evacuations, and sailing-related risks. Standard travel insurance might not provide adequate coverage for the unique challenges of life at sea.
• Consider Policy Flexibility: Opt for insurance that offers flexibility in terms of coverage areas and duration, especially if your sailing plans are not fixed.
• Evaluate Customer Support: Ensure that the insurance provider offers reliable 24/7 customer support, as emergencies at sea require immediate and effective assistance.
• Compare Providers: Research and compare different insurance providers to find the one that offers the best combination of coverage, cost, and customer service for your specific needs.
• Read the Fine Print: Carefully review the policy details, including exclusions and limitations, to ensure you fully understand the coverage.

Choosing the right international health and travel insurance is crucial in preparing for a safe and enjoyable sail life. It offers peace of mind and ensures that you are well-prepared to handle any unforeseen circumstances that might arise during your sailing adventures.

Hopefully, we have been able to answer some of your questions on finding the best sailing travel insurance. If you have any questions, please let us know in the comments below!

In 2016, I had been dumped by my girlfriend, fired from my job, and the lease on my house was running out. Facing moving back in with my parents, 26, jobless and alone I decided to listen to the message the universe was trying to send me. I took off on my first solo backpacking trip, with a one-way ticket to Bangkok and a well-thumbed Lonely Planet guide. From there I wandered Southeast and Central Asia, traveled the Great Steppe, and made my way across Russia and throughout Europe.

In Estonia I met Kelli, who, despite having a less frantic travel style, shared my my restless spirit and passion for exploration. Together, we embarked on a new journey, van life. Over four years we travelled across three different continents with three different vans.

In 2022, as the world began to re-open post COVID we took an opportunity to realise a long held dream, to live aboard a sailboat. Since then we have spent two summers in the Mediterranean, sailing and living aboard our little sail boat Whisper. When we aren't sailing we continue to live our nomadic lifestyle, guided by a philosophy of slow travel and self directed adventure be it by van or backpacking.

We find excitement through our journey into the unknown, stillness and content in the beauty of the places we discover and we find ourselves in the vastness of our world.

Hopefully, we can help you find what you're looking for too. Get lost with us and find your own path.

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Liability insurance for cruising sailboat

In this blog post we will talk a bit of our findings so far regarding finding a liability insurance for our cruising sailboat. (For a Swedish version of this blog post, click HERE ). We have googled a bit and asked for quotes and thought we share some about it here.

We have mostly been looking at a Third Party Liability insurance for our sailboat. Our boat is pretty cheap, and we can handle the loss if something should happen. We won’t sell everything we have in Sweden, so we will also have something to return to if things should go really wrong.

But after a bit of research we noticed that it isn’t an easy thing finding an insurance for a cheap, old sailboat (approx €20’000 with some equipment included). Most companies has given us a no, and we didn’t expect that. We had expected that we might need to pay a lot, and get a no for a full insurance, but not getting a no on third party liability only insurance.

We have read on some websites that it seems that many insurance companies has tightened their requirements and no longer insures cheap, old boats. Which is a bummer…

We have asked for quotes at the following companies:

• Y Yachts Insurance

Admiral Yacht Insurance

• Paul L’Ortye
• EIS Scandinavia

Before sending a quote to Pantaenius (Swedish office) we had read that they didn’t insure boat worth less than about €50’000. But we thought it was worth a try anyway, it would be easy for us with Swedish office and all. We got a first reply that they wouldn’t be able to offer us an insurance that would be in a good price range for us, and that it probably would be to expensive for us, due to our boats value. We asked again to double-check if this was the case if we wanted a third party liability insurance only. We got the reply that they weren’t able to insure our boat at all. What we read on Google it might not be as tough requirements for other Pantaenius offices, but we haven’t made a full investigation if it is possible for us as a Swedish registered boat to get a third party liability insurance from those offices.

We also sent a quotation to Y Yachts, where we got the answer we wanted! 🙂 They could offer a third party insurance for sailing to the Caribbean (not Senegal and Gambia, though, if we want to sail there). They have also been very fast and helpful with answering our questions. We will most likely choose them as our insurer.

UPDATE 1: We used the third party liability insurance offered by Y Yacht for our sailing trip and paid €5’000. The insurance covered northern Europe, Atlantic Europe, British Isles, Atlantic islands (Canary Islands, Cape Verde, Madeira, Azores), the Caribbean and two Atlantic crossings. We had a limit of €3’000’000. One thing we learned while we were out sailing is that it could be good to make sure that the third party liability covers the dinghy as well, as the dinghy is more likely to make serious damages on third parties than the sailboat.

UPDATE 2: Y Yachts was purchased by TopSail and what we have heard from others is that they are using the policy from TopSail and thus doesn’t offer third party liability insurance only, which is very unfortunate…

After sending a quote request we got an answer that the value of the boat was to low and that it was also to old. They also don’t offer third party liability insurance, which actually says on their website (under FAQ), which we missed.

Also a no, since they don’t normally offer third party liability insurance for cruising sailboat only.

We never sent a quote since they asked early on their web form if the boat was worth more than 40’000 pounds. If not, you got a message saying that they couldn’t offer you anything.

Paul l’Ortye

We got a reply saying that they only insure existing client for sailing to the Caribbean.

EIS INSURANCE

No problem to offer insurance for the chosen areas, but can not offer third party liability only. Since our boat is old they needed a recent survey and a lot of pictures of the boat. As we are mostly interested in third party liability only we haven’t investigated this further, but they didn’t mention any limitations for us. Spontaneously it felt like a good alternative if you are looking for full coverage insurance for an older boat.

Does not offer insurance for sailing to the Caribbean.

The chosen areas are not an issue, but they also have a boat value limitation (€50’000).

So as a conclusion, it is not an easy task finding an insurance for cruising if you have an old sailboat of low insurance value. Anyone else out there that has had similar issue or have any experience to share about picking insurance for a cheap sailboat? If so, please leave a comment. Maybe you’ll be able to help another sailor who has the same issue. 🙂

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The best time to cruise to alaska in 2024.

Plan your bucket list adventure to explore the extraordinary beauty of the 49th state.

The Best Time to Cruise to Alaska

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Alaska's astounding beauty and vast wilderness are unlike any other destination in the U.S. – and even in the world. While you can plan land-based trips to the state, many of Alaska's majestic snowcapped mountains, pristine forests, glacial waterways and abundant wildlife are in remote locations, only reachable by plane or by boat. That's just one of the many reasons why Alaska is one of the most popular cruise destinations in the world.

If you're ready to stop dreaming and start planning a once-in-a-lifetime adventure to The Great Land, here are tips on the best times to cruise Alaska.

Best Overall Time: Shoulder Seasons

Best time for warmer weather, best time for wildlife viewing, best time for salmon fishing, best time for the northern lights, best time for shore excursions.

If you want to score a deal and have fewer crowds, travel during the shoulder seasons: May and September. In these months, cruise fares are typically lower and ships are not as full, offering more cabin availability. However, with changes in the global climate bringing more moderate temperatures to Alaska, and the cruise season now extending into April and October, cruisers can also expect to find deals in April and October. There will be fewer sailings to choose from, but you may find lower pricing and avoid the peak-season crowds on the ship and in the ports.

In addition, select shore excursions may be available at a discount in the spring and fall. If you're planning on exploring Alaska on your own before or after your cruise, you'll also find cheaper hotel rates at the beginning or end of the cruise season.

Alaska's weather can change dramatically, especially the further north you go, no matter the month or season. While the weather may not be as predictable in April as in the middle of summer, Alaska can be beautiful in springtime with temperatures in the mid-40s, according to Tyler Hickman, senior vice president of Icy Strait Point, an Alaska Native-owned port in Hoonah and a port of call in Southeast Alaska. Hickman says there are long stretches of sunny days and crisp, clear evenings, offering the opportunity for late-season viewing of the northern lights . He also adds that April is one of the favorite times of year for local Alaskans.

If you're interested in cruising to Alaska in April, Norwegian Cruise Line has a few options, including weekly sailings on Norwegian Bliss beginning April 6. The line also offers Alaska itineraries through the end of October. Other lines sailing the extended season in Alaska in late April include Princess Cruises , Holland America Line , Royal Caribbean International , Carnival Cruise Line , UnCruise Adventures and Lindblad Expeditions.

If you prefer to travel in the fall, early October temperatures are usually in the 50s, while the end of the month brings snow in the higher elevations. The days are longer and there are no crowds, so it may be an ideal time to visit if you're not interested in the summer outdoor experiences. Norwegian, Holland America and Seabourn Cruise Line offer sailings in October.

Read: The Best Alaska Cruise Deals

If you'd prefer warmer weather for your cruise, the summer season in Alaska runs from mid-May to mid-September. During that period, daytime temperatures typically range from 60 to 80 degrees, though they can drop into the 40s overnight. You can expect to have between 16 to 24 hours of daylight in the warmer season. May is considered the driest month, with around a 25% chance of precipitation, but the rain becomes more frequent throughout the summer.

Alaska.org, a website run by local Alaskans that provides travel information and recommendations, advises that the best time to visit in summer is from June 15 to July 15. This 30-day period is regarded as the peak season for warm, dry weather – and it's the perfect time for outdoor activities such as wildlife viewing, fishing and hiking. If you want to experience the most "midnight sun," plan to cruise a few weeks before or after the summer solstice – the longest day of the year – which falls on June 20 in 2024.

Come September, the days are generally shorter, rainier and cooler – but not always. You might get lucky with some unseasonably warm days amid the beautiful fall foliage ; as a bonus, September also means no bugs and fewer crowds.

If you have school-age children, you'll probably need to travel midsummer, during peak season. However, if you're flexible on dates, there's really no bad time to visit this magical destination. Mountain peaks shrouded in clouds or misty days cruising Glacier Bay National Park and Preserve in late April are as beautiful as sunny days hiking through Tongass National Forest or whale watching on an excursion out of Icy Strait Point in July.

Read: The Best Places to Visit in Alaska

According to Glacier Bay National Park and Preserve, one of the top destinations on the Inside Passage itinerary, wildlife viewing is possible year-round, especially if you have your binoculars at hand. When you're not watching for turquoise ice calving in the bay from the glaciers, you might see humpback whales as long as 65 feet or black and brown bears up to 10 feet tall – as well as orcas, harbor and Dall's porpoises, sea otters, harbor seals, mountain goats, sea lions, seabirds, and bald eagles soaring overhead. And that's just what you can view from the ship.

During cruises through the park, rangers board the ships to offer commentary and information about the marine and terrestrial wildlife. They also help spot whales or other animals along the way. One of the highlights while cruising slowly through the park is to go outside on the bow of the ship – or even out onto your veranda – to listen to the incredible silence of this otherworldly place. You may hear nothing at all, or perhaps you'll be treated to the sounds of birds in the distance or the swoosh from a whale's blowhole before it dives down below the water's surface.

It's possible to view certain animals and marine life throughout the year, according to Hickman. "Whale sightings are consistent from May through September, with fewer occurring in April and October as they migrate from or to Hawaii for the winter," he says, adding: "Even on a foggy day when you can't see the whales, you can still hear them and feel their presence – and that's almost as incredible as seeing them from a ship or along the coastline."

If you're interested in spotting brown bears, here is Hickman's advice: "Bear sightings in the spring will depend on the snowpack and when they are leaving hibernation. This year we had very good bear viewing along the Spasski River starting in May when the coastal brown bears emerged from hibernation."

He adds, "They feed on the grass of the valley and eat skunk cabbage roots in May and early June. As the berries start to emerge in June, it holds many of the same bears, and as we get into mid-July, the salmon start heading upstream. There is a constant food source from May through September at Spasski. Many of the other bear viewing areas do not have the same features we have, and it leads to people thinking that bears are only around when fish are in the rivers."

Chichagof Island – the location of Hoonah and Icy Strait Point – was given the nickname "Bear Island" by National Geographic. The island boasts one to two brown bears per square mile, making it one of the largest brown bear populations in the world. Hickman says you're nearly guaranteed to see bears on one of Icy Strait Point's bear-watching tours. Icy Point Strait also offers whale watching adventures and other treks into the wilderness.

Alaska.org points to May through September as the best time for wildlife viewing, though you can spot some animals year-round, like moose or orcas. The website also advises that fly-in bear viewing starts in May but is at its best in July.

Looking to book a cruise to see Alaska's wildlife? See the top cruises on GoToSea , a service of U.S. News.

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If you are an avid angler – or just want to watch the bears fish for their supper – then visit Alaska during the peak salmon runs, from May to September. King salmon season begins in May and goes through the end of July. The silver salmon run lasts from July up until the end of November. Red salmon are available between mid-June and mid-August, while you can catch pink and chum salmon in the brief window from mid-July to mid-August.

If you prefer halibut or just want to get out on the ocean, the best time for this wild Pacific species is from May to September. You can also seek out many other river and ocean species, such as rainbow trout, arctic char and northern pike. Cruise lines offer fishing excursions, or you can arrange for a private or group charter in an Alaskan town like Ketchikan.

If you want to see brown bears during the salmon run, book a bear-viewing excursion in one of the ports, such as Icy Strait Point. Or, extend your trip by combining a visit to Katmai National Park and Preserve and the renowned Brooks River with a stay at Brooks Lodge. Brooks Falls is the site for iconic photos of bears catching salmon that are jumping over the falls, and you may be able to view the bears feasting in salmon season when the property is open, from June through mid-September. The lodge is accessible by floatplane from King Salmon. You can also add a flyover tour during your stay to see the Valley of Ten Thousand Smokes, an area in southern Alaska transformed by ash from the 1912 Novarupta-Katmai volcanic eruption.

Aurora season – the best time to see the northern lights in Alaska – runs from mid-August to mid-April. While some passengers cruising the Inside Passage may catch a glimpse of the phenomenon in late summer and early fall, it's not guaranteed. As southeast Alaska typically has more precipitation and clouds since it's a temperate rainforest, you likely won't find optimal conditions for aurora viewing here.

Your chances to see the lights are better the further north you go, so you may want to look at booking a cruisetour: a land and sea package that's usually offered by some of the major cruise lines from May through September. These combined trips generally include the cruise, overnight accommodations in lodges, railway journeys and motorcoach travel between destinations.

With these tours, you'll be able to visit the vast landscape of Alaska, where you can explore cities like Anchorage and Fairbanks or spend time in Denali National Park and Preserve – and you'll have a better chance to view the northern lights. Lines that offer cruisetours include Norwegian, Celebrity Cruises , Holland America, Princess and Royal Caribbean.

Since 2024 is projected to be one of the best years to view the aurora borealis in Alaska, you might want to extend your trip to venture above the Arctic Circle or into Alaska's interior for a prime viewing opportunity. Fairbanks and the Arctic region are under the auroral oval, which is where the northern lights activity is concentrated. You can watch the forecast for the aurora borealis online at Explore Fairbanks' Aurora Tracker and the Geophysical Institute's Aurora Forecast .

Read: The Top Places to See the Northern Lights

Some of the excursions offered on an Alaskan cruise may be the most expensive tours you've seen on a ship, but they're also probably some of the coolest things you've ever thought about doing while on vacation.

Note that the probability of a tour being canceled for weather is almost the same for all tours offered between April and October, as the weather in Alaska can be unpredictable. Some of the more extreme tours, however, may not be available early or late in the season. If you want the best chance for optimal weather, consider the advice from Alaska.org and book your cruise between mid-June and mid-July.

If you're looking at splurging on a bucket list adventure while in Skagway – like Alaska Shore Tours' flightseeing helicopter adventure, which includes a dog-sledding experience on a glacier – you should check to make sure it's available the month you'll be cruising. This particular tour may not be open for booking before May or after September due to the conditions for the sled dogs.

Another over-the-top excursion dependent on optimal weather conditions is the Heli-Hike and Rail Adventure that begins in Skagway. This tour includes a helicopter ride from town that flies over glaciers and mountains, then drops you off for a roughly 5-mile guided hike to view Laughton Glacier and learn about the natural history of the area. After the hike, you'll board the White Pass & Yukon Route Railroad at Glacier Station for the scenic journey through the mountains back to Skagway.

If you're interested in the Misty Fjords Flightseeing tour in Ketchikan, this thrilling ride is also best on a clear day. This Alaskan bush plane tour soars over the Misty Fjords National Monument, which has more than 2 million acres of pristine lakes, waterfalls, ancient forests and snowcapped mountains.

Tours that include activities like mountain climbing or navigating suspension bridges might also be best when done on a sunny day. The prime time for wildlife viewing and fishing, as mentioned above, will depend on what animals you're interested in seeing and which species of fish you want to catch.

The ship's excursion desk, local guides or tour providers can offer the best advice on how to plan your activities. No matter which tours you opt to take, be prepared for the ever-changing weather patterns by wearing layers – and make sure to bring a waterproof rain jacket. Before booking, you should check the individual tour operator's cancellation and refund policy.

Read: The Best Alaska Tours

The Bottom Line

If you're flexible as to when you can travel to Alaska, you may be able to take advantage of lower pricing, travel incentives and added perks in the shoulder seasons – and you'll have fewer crowds than in the busy summer months.

If your goal is to view wildlife, then most of the cruise season, especially from May to September, will offer ample opportunities to see bears, humpbacks whales, bald eagles and other amazing animals – depending on the itinerary and excursions you choose. You'll also be able to catch Alaska's prized salmon throughout much of the cruise season.

And if extreme adventures are going to be the highlight of your vacation, then be sure to check with the tour providers to make sure your top picks are offered when you're planning to travel. Not all tour providers operate the full seven months of the season.

No matter when you decide to visit, a cruise to The Great Land will be one of the most memorable vacations of your lifetime.

Planning a cruise to see Alaska? See the top cruises on GoToSea , a service of U.S. News.

Why Trust U.S. News Travel

Gwen Pratesi is a U.S. News contributor and an avid travel adventurer who fell in love with Alaska on her first visit to the state many years ago. She's returned several times on land trips and by ship to seek year-round outdoor adventure, view wildlife and chase the northern lights in one of the best places on the planet to view them. She's even considered moving to The Great Land as a full-time resident. Pratesi used her deep knowledge of Alaska and the cruise industry to write this article.

You might also be interested in:

• Alaska Cruise Packing List
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Our Pick Of The Best Boat Insurance For Australians

Published: Apr 18, 2024, 8:17pm

It may not come as a surprise that Australians love taking boats out on the water as 87% of the population live within 50km of the coast. Data from the Boating Industry Association for 2022/23 shows that 2.5 million Australians have a boat licence—that’s almost 10% of the population.

As a boat is a considerable investment, it’s a good idea to protect it as you would your car. Boat insurance can offer similar benefits to car insurance , such as cover for damage to the boat itself and its contents, and legal liability, if you damage someone else’s property, or someone is injured or dies as a result of an accident you’ve caused.

However, it additionally offers more boat-specific cover, paying out for environmental damage caused by an oil, fuel or waste leakage, for example. Many policies also offer cover for sailboat racing and waterskiing, typically as an optional extra and for an additional premium.

As all policies differ in their features, it’s essential to compare them to find what you need for a suitable price. You should first decide, if you need third-party only; third party, fire and theft; or comprehensive cover which protects against the widest range of eventualities. We’ve conducted extensive research into the latter, to find what we consider to be the best comprehensive policies. All policies include cover for loss or damage to your boat as a result of storms, floods, fire and theft. You can find out how we scored them in the methodology section further down this page.

Note: the below list represents a selection of our top category picks, as chosen by Forbes Advisor Australia’s editors and journalists. The information provided is purely factual and is not intended to imply any recommendation, opinion, or advice about a financial product. Not every product or provider in the marketplace has been reviewed, and the list below is not intended to be exhaustive nor replace your own research or independent financial advice. For more information on how Forbes Advisor ranks and reviews products, including how we identified our top category picks, read the methodology selection below.

Nautilus Marine Boat Insurance

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Agreed or market value

• Choice of repairer

Liability cover

Limit not readily disclosed

This offering is the most comprehensive we found, covering your boat up to 250 nautical miles from the Australian coastline. Unlike most boat insurance policies, there’s the option to have your boat insured at market or agreed value.

There’s $5,000 each for emergency expenses and funeral costs, $20,000 for personal effects, $500,000 for marine damage, and $50,000 for related fines and penalties. This policy also allows you, rather than the insurer, to choose a repairer for your boat if damaged. Additionally, you have a choice of how much you pay in excess on accepted claims, which can lower or raise the policy premium, to a more favourable level. This policy is also a rare one in that it automatically covers sailboat racing, limiting the distance to up to 100 nautical miles. Additional cover can be purchased for longer races. Note that while this policy offers legal liability cover, the limit is not disclosed.

Aside from comprehensive cover, this insurer also offers third party only, extended blue water yacht racing and blue water cruising policies.

• Lay-up discount available
• 21-day cooling off period
• Insures at market value or agreed value
• No rescue cover
• No salvage cover
• Cover for ‘reasonable’ repairs at market value only

$10 million

As is common with boat insurance, this policy covers you up to 200 nautical miles off Australia’s shores. However, it offers up to $10 million in salvage and removal cover, which is relatively high compared to policies provided by other insurers.

It also includes $250,000 to cover the cost of removing or containing damage caused by pollution from your boat and related legal costs, if your boat is stranded or damaged. There’s $5,000 each for emergency repair, the boat’s contents and fatal injury. Unlike certain policies, this one also covers rescue, paying out up to $5,000. However, one drawback is that your boat can only be insured at agreed value. A lay-up discount and cover for sailboat racing and watersports are optional extras that can be added.

If you make a successful claim, the policy allows you to choose the repairer. You can also pay an excess amount that you choose on taking out the policy. Paying a low amount in excess typically raises the policy premium and vice versa.

This insurer also offers third-party boat insurance as an alternative to comprehensive cover.

• $10 million legal liability
• Rescue cover included
• Insures at agreed value only

This policy pays out up to $5,000 for emergency expenses, and covers damage up to the agreed value, as long as your boat stays within 200 nautical miles of Australia’s coastline.

It also covers rescue up to $5,000 and salvage costs, as long as they are ‘reasonable’, while $250,000 is available for clean-up expenses to remove, contain or clear debris and liquid from your boat as a result of an insured event. For funeral expenses, there’s $10,000, while $10 million is provided in legal liability cover. However, content cover is only available to bolt on to the policy as an optional extra. Insurance for sailboat racing and watersports are also available as add-ons, for an extra premium.

Unlike certain policies, you can choose a repairer, which is an added bonus. You also have a choice of how much excess you pay on each accepted claim. Note that this comprehensive offering is the only type of boat cover this insurer offers.

• $250,000 clean-up costs
• Covers ‘reasonable’ salvage costs only
• Contents cover not automatically included

Suncorp’s comprehensive boat insurance offers a suite of attractive features: there’s $10 million in salvage and removal cover; an equal amount in legal liability cover; $250,000 for pollution by oil, fuel or waste; and $5,000 each for emergency expenses, the boat’s contents, and for fatal injury.

The policy will remain valid up to 200 nautical miles from Australia’s shores, covering your boat at agreed value only and paying out up to this value for rescue. Note that if the boat is damaged, only the insurer can choose a repairer. However, you will have a choice of how much excess you pay on accepted claims, when you first take out the policy. Paying more in excess can lower your policy premium and vice versa.

Cover for sailboat racing and water-skiing can be added on to the policy at an extra cost. This insurer offers third party cover, as an alternative to comprehensive cover.

• No choice of repairer

This policy will cover your boat up to 200 nautical miles from Australia’s coastline, covering ‘reasonable’ repair costs up to an agreed value only. However, it allows you to choose a repairer, if you wish, and offers several excess options to choose from when taking out the policy. Opting to pay a higher excess on accepted claims can lower the policy premium and vice versa.

The policy also includes salvage cover, though no specific limit is readily provided, and $10 million in legal liability cover, including $250,000 for clean-up costs. It also offers $10,000 for funeral costs, up to $800 for emergency repairs and an additional $1,000 to cover emergency transport and accomodation. There’s $1,000 to cover the boat’s contents, which is relatively low compared to other insurers, but there is the option to increase this amount to $1,500 by paying an additional premium.

This policy does not cover rescue, but insurance for sailboat racing and water-skiing are available at an additional cost. This insurer also provides third party insurance as an alternative to its comprehensive offering.

• 21-day cooling period
• $800 only for emergency repairs

In addition to $5,000 in cover for rescue, Apia’s comprehensive boat insurance includes $10 million each for salvage and legal liability. It also offers $250,000 for clean up and $5,000 for emergency expenses.

For fatal injury, there’s $5,000, while up to $250 is provided for the boat’s contents and $250 for personal effects. Cover for sailboats and watersports come as optional extras, at an additional cost. Cover remains valid up to 200 miles from the Australian mainland and Tasmanian coastlines.

The policy offers several excess amounts to choose from, allowing you the ability to lower your policy premium, if you prefer to pay more in excess, and vice versa. Note that the insurer will choose a repairer for you on this policy. As an alternative to comprehensive cover, it also offers third party insurance.

• $10 million salvage
• Insured at agreed value only
• No lay-up discount

Youi Comprehensive Boat Insurance covers you up to 200 nautical miles from the Australian and Tasmanian coastlines, providing $1,000 for emergency repairs, transport and accomodation. However, it insures at market value only and you can’t choose the repairer if you’re boat is damaged.

There’s $1,000 for the boat’s contents, $10 million for legal liability and $5,000 for accidental personal injury. The latter rises to $10,000, including for funeral expenses, if injury leads to death. The policy also includes $150,000 for salvage costs and $250,000 in pollution cover. Note that the policy does not include cover for rescue, and offers a 20-day cooling off period, which is slightly shorter than the 21-day period offered by many insurers. Social sailboat racing cover is available as an optional extra for an additional premium, but water-skiing cover is not provided.

As well as comprehensive cover, Youi offers a third party property only policy, and third party fire and theft insurance. It also provides a choice of excess amounts, allowing you to raise how much is levied in exchange for a lower policy premium, or vice versa.

• $10 million legal liability cover
• Insurer offers good range of policy types
• $10,000 accidental injury cover
• Market value only
• Water-skiing cover not available

While pleasure boat insurance is Club Marine’s most comprehensive offering, it also provides third party cover. The former, which we analysed, can cover your boat at market or agreed value, up to 250 nautical miles from Australia, protecting it against damage costs up to the policy limit. You, rather than the insurer, can choose a repairer when needed.

The policy also includes $10,000 for personal effects, $500,000 to cover clean up costs, and covers ‘reasonable’ costs for salvage. Insurance for water-skiing and sailboat racing can be bolted on to the policy at an additional cost. You can also add cover for emergency measures if you choose, but such scenarios are only covered up to a ‘reasonable’ amount. There is no automatic or optional cover for rescue.

You can choose from a number of excess options when taking out the policy, which allows you to raise the excess to lower the policy premium or vice versa, depending on your preference.

• 14-day cooling period
• Lay-up discount optional

To find our pick of the best comprehensive caravan insurers in Australia, Forbes Advisor analysed 14 of the most popular companies in the country.

Our analysis included comparing how a boat is insured (whether by market value or agreed value); policy benefits, such as cover for emergency expenses and accidental damage; and an in-depth review of each provider’s product disclosure statement (PDS) to evaluate any exclusions and extras.

The policies were compared across the following 16 key data points:

Market versus agreed value: Can owners choose how their boat is insured? Choice of repairer: Can boat owners choose the repairer? Choice of excess: Do boat owners have a choice of how much excess they pay? Note that paying a high amount in excess usually lowers the policy premium, and vice versa. Cooling-off period: What is the cooling off period for purchase? Emergency expenses: Are boat owners covered for emergency expenses and by up to how much? Above $1,000 is great. Fire and theft: Does the policy include fire and theft cover? Legal liability: As boating and its equipment is expensive, is there at least $10 million for damage a boat owner may accidentally cause with their boat? Contents cover: Are the contents of the boat covered by more than $4,000? Natural disasters: Is there cover for floods and storms? Funeral services: Is there at least $10,000 or more for funeral expenses? Salvage costs: Is there at least $10 million for salvage operations? Clean-up costs: is there at least $250,000 for clean-up costs? Rescue services: Is there at least $5,000 for rescue services? Water-skiing: Is there cover for water-skiing automatically or as a policy add-on? Sailboat racing: Is there cover for sailboat racing automatically or is there an add-on? Discounts for ‘lay-up’: Does the insurer offer lay-up cover to allow owners to save on their premium when the boat is stored?

These variables were compared to complete an overall ranking of each comprehensive boat insurance provider. Each provider was ranked between one and five, with the leading providers (being those ranked higher than 3.5) included in the above best-of list.

A Note on Star Rankings

You will note that we have included a star rating next to each product or provider. This rating was determined by the editorial team once all of the data points above were considered, and the pros and cons of each product attribute was reviewed. The star rating is solely the view of Forbes Advisor editorial staff. Commercial partners or advertisers have no bearing on the star rating or their inclusion on this list. Star ratings are only one factor to be considered, and Forbes Advisor encourages you to seek independent advice from an authorised financial adviser in relation to your own financial circumstances and investments before you decide to choose a particular financial product or service.

As the name suggests, cover for boats can protect you when using a vessel such as a motorboat, yacht, small craft or super yacht. An insurer will be able to tell you what type of vessels it specifically covers. Similar to car insurance, the following types of boat cover are available:

Third party only: Protects against claims of injury or death, or damage to property by passengers or other third parties. Third party, fire and theft: Covers everything a third party only policy does, as well as someone stealing your boat and damage caused by fire. Comprehensive: Covers the widest range of unexpected emergencies, including those caused by theft, accidents and natural disasters.

The benefits of boat insurance can differ between policies. However, you’ll find that most comprehensive policies tend to include cover for the following:

Accidental loss and damage: This can include cover for theft, impact, sinking, fire, a storm, malicious damage and transit damage, when your boat is being transported on its own trailer

Emergency expenses: Covers the cost of emergency assistance such as the towing of your boat to the nearest safe place, or for the delivery of fuel, if your boat is stranded due to an emergency or unforeseen incident. It can also cover urgent repairs.

Personal effects/contents: Insures you for theft, loss or damage of belongings owned by you and depending on the insurer, your passengers, which are being used or stored on your boat at the time of an incident. This can include clothing, fishing and diving equipment and unfixed furniture. There are typically exclusions to this cover such as jewellery, money and mobile phones. Sub-limits on cover may also apply to certain items. Clean-up: Covers the cost to remove, contain or clear waste and pollution caused by your boat. Salvage and removal: Covers the cost of recovering your boat and moving it to a safe place in the event your boat is stranded or damaged in a covered incident. Legal liability: Covers you for injury to other people or damage to someone’s property when using your boat. Funeral expenses: Pays out following the accidental death of an insured person on the policy while boating.

A policy may also include cover for rescuing from a stranded boat, while insurance for sailboat racing and waterskiing may each come as optional extras that you can bolt on to your policy at an additional cost.

In addition to the types of cover included on a policy, you’ll also want to find out how far you can take your boat from land. Typically, you can travel 200 nautical miles away from Australia’s coastline without invalidating your policy. Certain insurers may allow you to travel farther out. You may also want to check if you can choose the repairer if you claim for damage, or if the insurer must choose.

Certain policies may offer a lay-up discount, often as an optional extra. This is when you can nominate certain months in the year that you don’t use your boat, and the insurer will charge you less for your policy during these times. This discount is worth considering, in addition to the policy premium (the cost of the policy). You’ll also want to weigh these factors up against the excess you’re typically required to pay on each accepted claim. This sum is usually automatically deducted from the claim amount. On taking out your policy you may have the option to choose an excess amount. While lowering it can usually raise your policy premium, paying more in excess could lower your policy premium to an amount that you may prefer.

Most insurers offer either agreed value or market value policies. However, some insurers may offer the option to insure at agreed value or market value, depending on your preference, although this is rare.

On an agreed value policy, the value is determined through a boat valuation you arrange before the policy starts. This must usually be carried out by a registered boat dealer or broker who specialises in your type of boat.

On a market value policy, the value of your boat will be determined at the time of claiming, typically using dealer or repairer valuations or industry publications.

You’ll want to read a policy’s PDS thoroughly before deciding whether it’s worth purchasing. This should be available to view on the insurer’s website. It will detail what the cover includes and excludes, as this differs between policies.

Insurers usually offer a 21-day cooling-off period during which you can cancel your policy and get a refund, should you change your mind and haven’t yet made a claim.

Certain policies may come with a shorter cooling off period of 20, or even 14 days. As with all the details of your policy, you can check how long this period will last in its PDS.

A quick way to compare boat insurance policies is to run quotes on the websites of individual insurers. Shopping around will raise your chances of finding a suitable policy, at the best price available.

As well as the cost of a policy, you will be able to compare factors, such as the types of cover included, cover levels and the amount of excess levied on each successful claim you make.

First, you’ll need to enter a few details into the insurer’s online quotation tool to give it an idea of the type of boat that needs covering, how you use it, its speed and engine type, where you store it when not using it and more. An insurer will also want to know information about you, such as your age, and boating experience.

Data Research: Mia Dunn

How much boat insurance do I need?

The amount of cover you will need will depend on factors such as the value of your boat and the contents inside, whether it will be insured at agreed or market value.

You’ll want to carefully look through a policy’s PDS to find out exactly what it does and does not cover. You may want to consider a different policy if it automatically includes cover you don’t need such as water skiing insurance.

What is the best boat insurance policy?

Our above ranking of what we consider to be the best comprehensive boat insurance policies gives you an idea of how they compare based on what we’ve identified as key factors.

In addition to the levels of cover available, we considered whether owners can choose the repairer that fixes their boat, whether they have a choice of what they pay in excess, how long of a cooling off period is provided, should they wish to cancel their policy and get a refund and more.

However, the best boat insurance for you will ultimately come down to your personal preferences, budget and needs.

How much is boat insurance in Australia?

According to the Pacific Boating club, insuring your vessel can cost upwards of $300 per year.

The specific price will be based on factors such as the size and make of your boat, as well as the type of policy you choose.

I have been writing for newspapers, magazines and online publications for over 10 years. My passion is providing, in a way that is easily accessible and digestible to all, the knowledge needed for readers to not only manage their finances, but financially flourish.