Yachts & Other Watercraft

We understand what yacht ownership means, whether cruising the Mediterranean or sailing close to home. Our Private Client Group is well-versed in the intricacies of protecting yachts—or boats of any size.

Get the Facts

Insurance needs vary considerably across different types of vessels. A mega yacht with worldwide navigational capabilities should not be addressed in the same way as a family cruiser. Crew injuries are common causes of yacht insurance claims, while the most severe losses are due to fire.

First Foundation Advantages

We can tailor coverage to match your cruising itinerary and individual yacht needs, such as higher levels of liability. Our carrier partners have yacht practices run by seasoned professionals with a deep knowledge of the marine industry. From the underwriting of your policy to the support offered in the event of a claim, your needs will be handled by those who share your love for being on the water.

Coverage Highlights

“All Risk” Coverage - this yacht policy provides broad coverage for virtually all types of risks.

  • Worldwide Navigational Limits

    They have the capacity to insure pre-defined or worldwide navigational limits based on your specific cruising plans.
  • High Limits

    Coverage can be tailored for all types of watercraft, from small boats to super yachts.
  • Property Coverage

    The comprehensive coverage not only protects your yacht in the event of a loss, but also covers items such as tenders, fine art, personal property and furnishings at separate, lower deductibles.
  • Protection and Indemnity (P&I)

    They will pay damages that you or any other insured person are legally liable to pay related to bodily injury or property damage (up to the P&I limit on your policy). In addition, defense costs are covered above and beyond your P&I limit.
  • Newly Acquired Yachts

    Newly purchased tenders and yachts are automatically covered for 30 days after the date of purchase (for both hull and P&I coverage).
  • Crew Coverage

    P&I coverage for crew claims under the federal Jones Act or similar laws of other nations.
  • Environmental Damages Protection

    They reimburse expenses related to pollution and/ or marine environmental damage caused by a covered occurrence, up to the P&I coverage limit on your policy.
  • Yacht Loss Prevention Services

    Keeping your yacht, passengers and crew out of harm’s way is a critical priority. Proactive safety and security measures can go a long way in minimizing injury and costly damage. To help you take action, they can offer a range of yacht loss prevention services.
  • Crew Background Checks

    Complimentary background checks, conducted by Rehmann Corporate Investigative Services, on crew members who will have access to your vessel, family and valuables.
  • Hurricane Preparedness Reviews

    Loss prevention specialists can review your hurricane preparedness plan, and provide recommendations and contacts for quality service providers in your area.
  • Safe Harbor, Dry Dock and Repair Consultations

    They can connect you to best-in-class facilities if you are cruising, out of port or faced with a storm.
  • Yacht Safety Awareness Material

    From post-accident guidance to towing tips, their range of safety and security materials will help your family and crew stay well informed.
  • Safety at Sea Awareness Programs

    Because education can make all the difference during an emergency, they can produce informational sessions to share security, fire and general safety tips, as well as advancements in search and rescue technology and equipment.

What to Expect at Claim Time

Here is an example of exceptional claims service in action:

  • Quick Action Leads to a Quick Recovery

    A policyholder’s yacht, valued at over $2 million, had been stolen from its berth in a marina in Florida. The claims team was notified within hours of the incident, and one of our staff immediately reached out to his contacts in South Florida and the Bahamas. Lookouts were posted along the inter-coastal waterway bridges and alerts were sent to fueling stations and marinas. Legal counsel was also retained to facilitate the possible need for warrants, investigative actions and to assist in coordinating efforts to secure the vessel.

    Within a few hours, a sighting was made at a fueling station in the Bahamas. They then hired a pilot to search for the yacht in the vicinity around the fueling station. The pilot quickly spotted the vessel and reported its position. With help from customs officials, they also learned the first name of one of the false crew members. Aware of our efforts and scared for their freedom and safety, the false crew quickly agreed to cooperate. They made arrangements for the crew to take the yacht while under surveillance from air and shore to a secure private island in the Bahamas where a representative for the policyholder could take possession.

    The following day, they flew the true captain to the yacht to ensure a safe return to Florida. The false captain and crew, hired by an unknown kingpin to deliver the boat to the Dominican Republic for sale using a fake title, were turned over to the authorities.

    Upon arrival in Florida, they had the boat surveyed and cleaned. Fortunately, the yacht did not suffer any damage, and the policyholder and his captain were quickly reimbursed for all costs associated with recovering the vessel.