Worldwide Yacht Insurance
Worldwide yacht insurance covers a sail or motor yacht in any agreed navigable waters, including the Caribbean. World Yacht Insurance arranges agreed-value hull and liability cover up to $5M, placed at Lloyd's of London through London Marine Insurance Services Ltd, a Lloyd's-accredited broker. Premiums typically run 1 to 1.5% of the agreed value each year.
Yacht insurance is a specialist form of marine insurance, built for cruising yachts rather than the coastal boat policies most carriers sell. Tell us your vessel and where you sail, and we return quotes from the Lloyd's market within 48 hours.
- Up to $5M
- Agreed value at Lloyd's
- 1% to 1.5%
- Typical premium band
- FCA 308599
- LMIS, our Lloyd's broker
- 48 hours
- Typical quote turnaround
What worldwide yacht insurance covers
A worldwide policy protects two things: the yacht itself, and your liability to other people, wherever you have agreed to cruise. We build the terms straight from London Marine Insurance Services Ltd policy wording, so you can see exactly what is in and what is out before you request a quote.
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 at Lloyd's of London through London Marine Insurance Services Ltd, a Lloyd's-accredited broker.
Covered
- Agreed-value hull and machinery up to $5M.
- Third-party liability up to the policy limit.
- Protection and indemnity, including US paid crew under Jones Act protection where the policy adds it.
- Salvage and wreck removal.
- Medical payments.
- Uninsured and underinsured boater.
- Personal effects on board.
- Emergency towing and assistance.
- Pollution and fuel-spill liability.
Not covered
- Wear, tear and gradual deterioration.
- Mechanical breakdown caused by age.
- Loss from an unseaworthy vessel.
- Cruising outside your agreed navigational limits.
- A named storm when no signed hurricane plan is in force.
Carriers like Chubb and Markel list similar core cover. What none of them publishes is the deductible menu or the loss-of-charter-hire terms you get from our LMIS wording. Cover is placed at Lloyd's of London through London Marine Insurance Services Ltd, FCA firm reference 308599, so valid claims are paid by Lloyd's underwriters.
If you charter the yacht out, you need a charter endorsement on top of this cover. See our bareboat charter insurance page for how that works.
This page is general information, not financial advice. Your quote and policy wording set the exact terms.
How much does worldwide yacht insurance cost?
Worldwide yacht insurance typically costs 1 to 1.5% of the yacht's agreed value per year, based on LMIS indications. A well-found yacht with a clean record and a sensible cruising area sits at the low end. Hurricane-box exposure, older gear or paid crew push it toward the top.
The table below shows annual premium examples in US dollars, using the 1 to 1.5% band against common agreed values.
| Agreed value | Annual premium (1 to 1.5%) |
|---|---|
| $100,000 | $1,000 to $1,500 |
| $250,000 | $2,500 to $3,750 |
| $500,000 | $5,000 to $7,500 |
| $1,000,000 | $10,000 to $15,000 |
| $2,500,000 | $25,000 to $37,500 |
| $5,000,000 | $50,000 to $75,000 |
That answers the questions buyers ask most. A $200,000 yacht runs about $2,000 to $3,000 a year. A $500,000 yacht runs about $5,000 to $7,500. For a $1,000,000 liability limit, the cost is folded into the third-party and P&I section of the premium rather than priced as a standalone product, and underwriters set it against your vessel and cruising area.
Four things move your final number: your cruising area, especially time inside the hurricane box; the vessel's age and survey condition; your claims history; and whether you carry paid crew. Our guide on how much yacht insurance costs breaks each driver down.
These figures are indicative only and not financial advice. Your final premium is set by the underwriters after they see the vessel and the cruising plan.
Agreed value vs actual cash value
Agreed value pays a fixed, pre-agreed sum if the yacht is a total loss, with no deduction for depreciation. Actual cash value pays what the yacht is worth on the day of the loss, after depreciation. On an older boat, that can be far less than you expect.
| Agreed value | Actual cash value | |
|---|---|---|
| Settlement on total loss | Fixed pre-agreed sum | Depreciated market value |
| Depreciation | None | Deducted |
| Premium | Slightly higher | Lower |
| Best for | Cruising yachts you want fully protected | Older boats where cost is the priority |
World Yacht Insurance policies are written on an agreed-value basis up to $5M in-house, with larger risks placed in the Lloyd's market. You know the payout figure the day you bind, not the day you make a claim.
Who we cover: vessels, use cases, and honest constraints
We arrange cover for cruising yachts and the ways people actually use them. Each vessel type has its own page with the specific terms.
Who we cover
- Sail and motor yachts
- Catamarans
- Monohull sailboats
- Motor yachts
- Superyachts above $5M, placed in the Lloyd's market
- Liveaboards
- Bareboat and skippered charterers
- Charter-out owners
- Bluewater and offshore cruisers
- Racers, with a racing endorsement
What we cannot cover
- Trimarans
- Ferro-cement hulls
- Cigarette boats
Chartering the yacht out needs an endorsement, and older or larger vessels need a marine survey before cover starts.
If you charter your yacht commercially, loss-of-charter-hire cover pays €600 per day for up to 67 days while the yacht is out of service after an insured loss.
How to get a worldwide yacht insurance quote
World Yacht Insurance is a specialist yacht-insurance introducer. We arrange hull and liability cover up to $5M for sail and motor yachts worldwide, placed at Lloyd's of London through London Marine Insurance Services Ltd, a Lloyd's-accredited broker. That broker holds FCA firm reference 308599; we are not an insurer and do not carry risk.
You complete one short pre-qualifying form. It goes to the LMIS producer desk, and LMIS returns quotes from the Lloyd's market within 48 hours.
For the full chain and who pays your claim, see our how it works page.
- 1
Tell us the vessel
The yacht, its value, and your cruising area.
- 2
We pre-qualify
We pre-qualify the risk and pass it to our broker partners.
- 3
LMIS quotes the market
LMIS quotes from the Lloyd's market within 48 hours.
- 4
You review and decide
You review the agreed value and the deductibles, then decide.
Worldwide yacht insurance questions
How much does it cost to insure a yacht?+
Yacht insurance typically costs 1 to 1.5% of the agreed value per year, based on LMIS indications. A $500,000 yacht runs about $5,000 to $7,500 a year. Your cruising area, the vessel's age and survey, your claims history and any paid crew all move the final figure, which underwriters set.
What is not covered under a yacht policy?+
Standard exclusions are wear and tear, gradual deterioration, unseaworthiness, and cruising outside your agreed navigational limits. A named storm is not covered without a signed hurricane plan in force. We also cannot insure trimarans, ferro-cement hulls or cigarette boats.
Does yacht insurance cover worldwide and Caribbean cruising?+
Yes. Worldwide navigation cover extends to any agreed navigable waters, including the Caribbean. During the Atlantic hurricane season, June 1 to November 30, named-windstorm cover applies only with a signed hurricane plan and a 10% deductible.
What is agreed value and why does it matter?+
Agreed value is a fixed payout set when you bind the policy, with no depreciation deducted at claim time. It matters because an actual cash value settlement can pay far less on an older yacht. We write cover on an agreed-value basis up to $5M.
How much is $1,000,000 of liability cover?+
Liability at that limit is bundled into the third-party and P&I section of your premium rather than sold as a standalone product. The cost is indicative and set by underwriters against your vessel and cruising area. Request a pre-qualifying quote and LMIS returns figures within 48 hours.
Reviewed by Costas Matheou, licensed insurance agent (Cyprus).
Coverage terms, premiums and deductibles on this page are indicative and not financial advice. Cover is subject to underwriting, survey and the policy wording.
Get your worldwide yacht insurance quote
Tell us about your yacht and where you sail. We pre-qualify the risk and the Lloyd's-market broker returns quotes within 48 hours.