Burned about two weeks comparing quotes on coverage for our boat before spring launch. Lesson one: a low premium usually means a pile of exclusions. Look at agreed value vs actual cash value ? with ACV, depreciation eats the payout after a total loss. If the boat is older, expect the insurer to ask for a recent survey. The hard part is the policy wording, so this helped me sort it out: yacht insurance ? it lays out the main policy terms in plain English. Also read the navigation limits carefully: cruising outside them can get a claim denied. In hurricane country, the named storm deductible is often a percentage of hull value, not a flat amount. Pay attention to liability limits ? wreck removal and guest injuries can cost more than the boat itself. Compare two or three carriers and go through the exclusions before you sign.
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