The last thing you want in life is to see a beautiful and luxurious mega yacht fall prey to the great Ocean’s almighty depths. It’s something that man is yet to conquer, and perhaps never will. Luxury yacht insurance is a must for any private charter group or owner and will typically cover yachts from $250,000 up to $30 million. This insurance should cover the following things as standard:
* Captain/crew coverage
* Deductible waived for:
o Collision caused by another vessel
o Fire not originating from your yacht
o Provable manufacturer’s defect
o Loss resulting from assisting another vessel in imminent danger
* Automatic coverage for Marina (additional insurance)
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