Worldwide Yacht InsurancePlaced in the London market
World Yacht Insurance is a yacht-insurance introducer arranging hull and liability cover up to $5M for sail and motor yachts worldwide, including the Caribbean, placed in the London market through London Marine Insurance Services Ltd, a Lloyd's-accredited broker. Cover is written on an agreed-value basis, with quotes in about 24 hours.
No obligation · every underwriting question asked upfront · a licensed Cyprus agent reviews every enquiry
Up to $5M
Agreed value in-house
~24 hours
Typical time to quote
Lloyd's market
Underwriting capacity
FCA 308599
London Marine Insurance Services Ltd
What worldwide yacht insurance covers
Loss-of-charter-hire cover is available as an endorsement for owners who charter their yacht.
A worldwide yacht insurance policy covers hull and machinery on an agreed-value basis, third-party liability, protection and indemnity for paid crew, salvage and wreck removal, medical payments, personal effects, emergency towing and pollution liability. Cover is placed in the London market and follows the yacht inside the navigational limits agreed on the policy.
Covered as standard
- Hull and machinery on an agreed-value basis
- Third-party liability up to the policy limit
- Protection and indemnity, including paid crew where the Jones Act applies
- Salvage and wreck removal
- Medical payments
- Personal effects on board
- Emergency towing and assistance
- Pollution and fuel-spill liability
Terms come straight from the Lloyd's wording.
What yacht insurance does not cover
No yacht policy covers everything. Wear and tear, gradual deterioration and damage traced to poor maintenance or an unseaworthy vessel are excluded, as is any loss outside the navigational limits on the policy. Named-windstorm damage needs a signed hurricane plan. Trimarans, ferro-cement hulls and cigarette boats cannot be placed at all.
- Normal wear and tear and gradual deterioration
- Unseaworthiness and poor maintenance
- Cruising outside the agreed navigational limits
- Named-windstorm damage without a signed hurricane plan
- Trimarans, ferro-cement hulls and cigarette boats
Exclusions vary by vessel, cruising area and survey condition. Your quote sets out the exact wording that applies before you buy.
How much does yacht insurance cost?
Yacht insurance typically costs 1% to 1.5% of the yacht's agreed value per year, based on London Marine Insurance Services indications. A $500,000 yacht runs roughly $5,000 to $7,500 a year. Cruising area, age, survey results and claims history all move the figure.
Your agreed value
$5,000 to $7,500
per year, at 1% to 1.5% of agreed value
- Typical premium band
- 1% to 1.5%Typical premium band
- Time to written terms
- ~24 hoursTime to written terms
- Agreed value in-house
- Up to $5MAgreed value in-house
Every value band
| Agreed value | At 1% | At 1.5% |
|---|---|---|
| $100,000 | $1,000 | $1,500 |
| $250,000 | $2,500 | $3,750 |
| $500,000 | $5,000 | $7,500 |
| $1,000,000 | $10,000 | $15,000 |
| $2,500,000 | $25,000 | $37,500 |
| $5,000,000 | $50,000 | $75,000 |
These figures are indicative only and not financial advice. Your final premium is set by the Lloyd's underwriters after a full review.
Get a pre-qualifying quote
Send us the yacht and cruising area. London Marine Insurance Services returns Lloyd's-market terms within about 24 hours.
- 01The yachtThe basics an underwriter rates the hull on.
- 02Values and coverThe agreed value and the liability limit you need. Underwriters rate in euros, so euros is the default.
- 03Where you cruiseYour navigational limits and the berth. Both are written into the policy, and both change the premium.
- 04Operator and declarationsWho handles her, then the ten questions every marine underwriter asks. Answer each one, and give brief details wherever you answer Yes. An unexplained Yes is the most common reason a marine quote stalls.
- 05Your detailsWhere the written terms should go, and the address the policy would be issued to.
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Worldwide navigational limits and the Caribbean hurricane box
Worldwide, or ocean, navigation cover extends to virtually any navigable waters, including the Caribbean, the Mediterranean and Mexico. The one hard seasonal condition is the Atlantic hurricane box: named-windstorm cover needs a signed hurricane plan and a 10% deductible from June 1 to November 30.
The Caribbean hurricane box, at a glance
- The Atlantic hurricane season runs June 1 to November 30, per NOAA.
- Named-windstorm cover needs a signed hurricane plan.
- A 10% named-windstorm deductible applies during the season.
- Croatia carries doubled deductibles.
- Cuba, Colombia, Venezuela and Haiti carry doubled deductibles, with confiscation, piracy and theft excluded.
Season dates: NOAA National Hurricane Center. nhc.noaa.gov
Atlantic hurricane season
Jun 1 to Nov 30
Named-windstorm deductible
10% with a signed plan
Cruising-ground pages
- Florida yacht insurance
- Caribbean yacht insurance
- Mediterranean yacht insurance
- Yacht insurance in Mexico
- Yacht insurance in Greece
- Yacht insurance in Croatia
- Yacht insurance in Spain
- Yacht insurance in Turkey
Agreed value vs actual cash value
Agreed value pays a fixed sum you set with the underwriter at the start, with no deduction for depreciation on a total loss. Actual cash value pays market value at the time of loss instead. World Yacht Insurance policies are written on an agreed-value basis up to $5M in-house.
Agreed value
How we write itActual cash value
Who we cover, and the yachts we cannot
World Yacht Insurance arranges cover for sail and motor yachts, catamarans, liveaboards, bareboat and skippered charterers, bluewater cruisers and superyachts above $5M through the Lloyd's market. A few hull types and uses fall outside the appetite, and we state them plainly.
Yachts and uses we cover
What we cannot cover
Trimarans
Ferro-cement hulls
Cigarette boats
Charter use without a charter endorsement
Older or larger yachts without a marine survey
Owners who charter their yacht can add loss-of-charter-hire cover, which pays €600 per day for up to 67 days when an insured loss stops the yacht earning.
Is Yacht Insurance Legally Required?
No United States federal law requires a private yacht to carry insurance, and there is no single worldwide rule either. Cover becomes a legal duty in specific cases: carrying passengers commercially, or entering a French port at 300 gross tonnage or more. Marinas, lenders and charter programs ask for proof long before any statute does.
Insurance is separate from the paperwork that is compulsory. Coast Guard documentation and state registration are required for a US vessel; insurance is not. That is why the practical requirement almost always arrives as a contract term rather than as a statute, and why the answer changes the moment you cross a border.
Where the requirement really comes from
Where the statute is silent, the contract is not. Berth agreements, boatyard lifts, winter storage, finance and race notices all ask for liability cover as a condition, which is why most owners carry it whatever their flag state says.
Where cover is a legal duty
- Ships of 300 gross tonnage and above
- French law requires insurance covering maritime claims limited under the 1976 London Convention for any ship that flies the French flag or enters a French port, with the certificate carried on board. Larger motor yachts cross that threshold more often than owners expect.Code des transports, article L5123-1
- Commercial carriage of passengers
- A carrier taking paying passengers by sea in the European Union must hold insurance for passenger claims and keep the certificate aboard, under the Athens Convention regime this Regulation applies.Regulation (EC) 392/2009
- France sets no general requirement
- Insuring a pleasure craft is optional in France. What a French marina enforces comes from the berth contract, not from the state, so a foreign-flag owner meets a contractual test rather than a legal one.service-public.gouv.fr, fiche F2725
- Germany sets no general requirement
- Germany imposes no general duty to insure a private Sportboot. The one federal exception is a boat operated on a Charterbescheinigung, which must carry liability cover under Anlage 6 (zu § 9 Abs. 2 Nr. 2) BinSch-SportbootVermV. The ordinance names no minimum sum.BinSch-SportbootVermV
Cover placed in the London market through London Marine Insurance Services Ltd runs to $5M in house and higher through the Lloyd's market, so one policy answers the berth contract and the statute together.
Requirements follow the cruising ground rather than the flag, so the country detail sits on our Mediterranean yacht insurance and Greece pages.
This is general information, not legal advice. Confirm the current requirement for your flag state and for every country you plan to enter.
Specialist yacht cover, backed by the Lloyd's market
Lloyd's-market pedigree
Cover is arranged through London Marine Insurance Services, a Lloyd's-accredited broker, so your yacht sits behind Lloyd's of London capacity.
Worldwide, including the Caribbean
Ocean navigation cover follows you across borders, unlike US carriers that stop at the coastline.
Agreed value up to $5M
In-house authority settles agreed value up to $5M, with larger risks placed in the Lloyd's market.
Honest, published terms
Deductibles, the premium band and every exclusion are stated up front, straight from the policy wording.
Quotes in about 24 hours
A short pre-qualifying form goes to the LMIS producer desk, which returns quotes within about 24 hours.
Underwriting capacity
- FCA 308599
- Lloyd's of London
How to get a worldwide yacht insurance quote
Getting a worldwide yacht insurance quote takes four steps. You share the vessel and cruising area, we pre-qualify and pass it on, and London Marine Insurance Services returns Lloyd's-market quotes within about 24 hours.
- 01
Tell us about the yacht
Share the vessel type, year, length, agreed value and where you plan to cruise.
- 02
We pre-qualify your details
World Yacht Insurance checks eligibility and passes your details to our broker partners for placement in the London market.
- 03
LMIS quotes from the Lloyd's market
The producer desk returns terms, usually within about 24 hours.
- 04
You review cover and bind
Check the agreed value, deductibles and navigational limits, then confirm to put cover in place.
World Yacht Insurance is an introducer operated by Costas Matheou, a licensed insurance agent in Cyprus, working with AKD Insurance and London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the Financial Conduct Authority, firm reference 308599, to place cover in the London market. World Yacht Insurance is not an insurer.
Yacht insurance questions, answered
How much does it cost to insure a yacht?
Yacht insurance typically costs 1% to 1.5% of the yacht's agreed value per year, based on London Marine Insurance Services indications. A $500,000 yacht runs roughly $5,000 to $7,500 a year. Your cruising area, the vessel's age and survey, claims history and crew all move the figure. This is indicative only and not financial advice; final premiums are set by underwriters.
What is not covered under a yacht policy?
Standard exclusions include normal wear and tear, gradual deterioration, unseaworthiness, and cruising outside the agreed navigational limits. Named-windstorm damage is not covered unless a signed hurricane plan is in place, and it then carries a 10% deductible. We cannot insure trimarans, ferro-cement hulls or cigarette boats.
Does yacht insurance cover worldwide and Caribbean cruising?
Yes. Worldwide ocean navigation cover extends to virtually any navigable waters, including the Caribbean. During the Atlantic hurricane season, June 1 to November 30, named-windstorm cover requires a signed hurricane plan and carries a 10% deductible.
What is agreed value and why does it matter?
Agreed value means the insurer pays a fixed, pre-agreed sum on a total loss with no deduction for depreciation, unlike actual cash value which depreciates over time. Policies arranged through London Marine Insurance Services are written on an agreed-value basis up to $5M in-house, with larger risks placed in the Lloyd's market.
How much is $1,000,000 of liability cover for a yacht?
Third-party liability is bundled into the protection and indemnity section of a yacht policy rather than priced as a standalone product. The cost depends on vessel size, cruising area and crew, and is set by underwriters. Complete the pre-qualifying quote form and London Marine Insurance Services returns quotes within about 24 hours.
Ready for a worldwide yacht insurance quote?
Send us the yacht and cruising area. London Marine Insurance Services returns Lloyd's-market terms within about 24 hours.
