Boat Insurance Cost Calculator
Boat insurance typically costs 1% to 1.5% of the yacht's agreed value per year when it is placed in the London market, so a $500,000 catamaran runs roughly $5,000 to $7,500 annually. There is no standard price list: underwriters price each vessel individually. This calculator shows your honest range and the terms that will shape your final quote.
Built on the proposal form and policy wording used to place cover in the London market through London Marine Insurance Services Ltd. No login, no obligation.
- 1% to 1.5%
- typical premium band of agreed value
- $5M
- hull and liability cover arranged
- 24h
- real quote from the producer desk
- 0
- logins, accounts or hidden steps
How this calculator works
The range is the real market band: 1% to 1.5% of agreed value per year, from the indications London Marine Insurance Services Ltd uses to place yacht cover in the London market. Every term shown, from the 10% named-windstorm deductible to the hurricane-box coordinates, comes from the actual policy wording and proposal form.
- 1The premium range is your agreed hull value multiplied by the 1% to 1.5% market band. Nothing else moves the number, because nothing else honestly can before an underwriter sees the risk.
- 2Your answers switch real policy terms on and off: the hurricane-box deductible, Croatia's doubled deductibles, charter endorsements, survey requirements. They never fake-adjust the price.
- 3The eligibility gates are the market's own: trimarans, ferro-cement hulls and cigarette boats are not written here, and we say so instead of collecting your email first.
- 4The questions in the quote step are the underwriter's questions, taken from the proposal form we submit. Answering them up front is what makes a 24-hour quote possible.
Boat insurance cost by agreed value
The same band, worked through typical agreed values. Your position inside the band depends on the vessel, its use and its waters.
| Agreed value | At 1% per year | At 1.5% per year |
|---|---|---|
| $20,000 | $200 | $300 |
| $50,000 | $500 | $750 |
| $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 |
Band source: LMIS indications for London-market placements. Not financial advice.
What moves you inside the 1% to 1.5% band
These are the factors the proposal form actually asks about. Underwriters weigh them when they set your final rate; the calculator does not guess their effect.
Typically helps
- Newer vessel with an in-force survey
- Higher voluntary standard deductible
- Seasonal lay-up ashore, declared on the form
- Experienced owner with a clean loss record
- Out of the hurricane box during the season
Typically costs more
- Charter or commercial use
- Mooring inside the hurricane box year-round
- Older vessel without a recent survey
- Marine losses in the last 10 years
- Single-handed offshore operation
Estimate done? See what cover looks like for your vessel type: Sailboat insurance, Catamaran insurance, Motor yacht insurance, Superyacht insurance, Full cost guide, Boat insurance for older boats.
Want the reasoning, not just the number?
This page is the tool: put a value in, get a range out. If you want the whole picture, what moves a premium, how the 10% named-windstorm deductible works, cost by vessel type and cruising area, and seven ways to pay less, our cost guide walks through it with worked tables.
how much yacht insurance costs is the long-form answer. Come back here when you want to price a specific yacht.
Not sure what figure to put in?
The value you type here is the agreed value, and it is worth knowing what that figure covers before you price it. The hull sum does not stretch over the tender, personal effects or the trailer, and raising it lifts the premium and the named-windstorm deductible together.
check what an agreed value actually covers and then come back here to price it.
Boat insurance calculator questions
How much is boat insurance per month?+
Placed in the London market, boat insurance typically costs 1% to 1.5% of agreed value per year. On a $250,000 yacht that is about $208 to $313 per month; on a $500,000 yacht about $417 to $625 per month. Most policies are billed annually, so monthly figures are a planning guide rather than an instalment plan.
Is this calculator an official quote?+
No. It is an honest indication built on the market band and real policy terms. Underwriters price each vessel individually after seeing the proposal form, so the only real number is a quote, which the producer desk returns in about 24 hours.
Why is there no exact price for yacht insurance?+
There is no standard rate card in this market. Each yacht is priced by underwriters on its value, age, survey status, use, waters and the owner's record. Any calculator that shows one exact number is inventing it. The honest answer is the band: 1% to 1.5% of agreed value per year.
What deductibles should I expect?+
Standard hull deductibles run 1% to 5% of agreed value. Named-windstorm claims in the Caribbean hurricane box carry a 10% deductible and require a signed hurricane plan during the Atlantic hurricane season, June 1 to November 30. Croatian waters carry doubled deductibles per claim.
Which boats are not eligible?+
Trimarans, ferro-cement hulls and high-performance cigarette boats are not written in this market. Vessels over about 20 years old typically need an in-force survey. Cuban, Colombian, Venezuelan and Haitian waters are placeable but double every deductible and exclude confiscation, piracy and theft.
What is the average cost of boat insurance?+
Published US averages for small production boats run roughly $300 to $650 a year, and higher in hurricane-exposed states, but those figures are for actual-cash-value cover on mass-market craft. Agreed-value yachts placed in the London market are priced differently: about 1% to 1.5% of the agreed value each year, so a $250,000 yacht runs roughly $2,500 to $3,750 before any windstorm, charter or age loadings.
How much is boat insurance in Florida?+
Florida boats cost more to insure because of named-windstorm exposure. Cover in the Caribbean and Atlantic hurricane box carries a 10% named-windstorm deductible and requires a signed hurricane plan during the Atlantic hurricane season, June 1 to November 30. Outside the box, or with the boat hauled out and declared, the same 1% to 1.5% agreed-value band applies.
Does this estimate include fuel, dockage and maintenance?+
No. This calculator estimates the insurance premium only. The total cost of owning a boat also includes mooring or dockage, fuel, winter storage, routine maintenance and depreciation, none of which this tool covers. It answers one question: what the insurance will cost.
What is the difference between agreed value and actual cash value?+
Agreed value pays the insured figure written on your policy, with no deduction for depreciation. Actual cash value pays market value at the time of loss, so it falls as the boat ages. Our guide to agreed value vs actual cash value works both bases through on the same yacht, on a total loss and on a partial loss.
Reviewed by Costas Matheou, licensed insurance agent.
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 real number in 24 hours
Send your boat details to the producer desk. Underwriters price your specific vessel, and you decide with a real quote in hand. No obligation.
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