Yacht Insurance for Greece
World Yacht Insurance arranges yacht insurance for Greece: agreed-value hull and machinery plus third-party liability for sail and motor yachts cruising Greek waters, placed at Lloyd's of London through London Marine Insurance Services Ltd, a Lloyd's-accredited broker. It meets Greece's compulsory liability law (Law 4926/2022) with cover far above the legal minimum. Indicative quote within 48 hours.
Cover for the Ionian, the Aegean and the Greek islands, built for owners and charterers. Compliant with Greek law, ready for the meltemi.
- Lloyd's
- Cover placed at Lloyd's of London
- $5M
- Liability far above Greece's legal minimum
- 48h
- Indicative quote by email
- 1% to 1.5%
- Typical premium of agreed value
What does yacht insurance for Greece cover?
It's an agreed-value marine policy for sail and motor yachts cruising the Ionian, the Aegean and the Greek islands. Two things sit inside it: hull and machinery cover for the boat itself, and third-party liability, which is the part Greek law makes compulsory.
World Yacht Insurance arranges this cover and places it at Lloyd's of London. We cover sailing yachts and sailboats, cruising catamarans and motor yachts. Whether you keep a yacht in Greek waters year-round or want sailing holiday insurance for a season afloat, the cover works the same way.
The core policy for Greek waters includes:
- Hull and machinery on an all-risk basis, insured at an agreed value you fix up front
- Third-party liability, the cover Greek law requires you to hold
- Skipper and crew liability
- Machinery breakdown
- New-for-old replacement on eligible items
- Salvage and wreck removal
- Personal effects on board
- Emergency assistance and towage
- Medical cover for guests and crew
One thing to clear up early. Your US car or travel insurance does not cover a yacht in Greece. A boat needs a marine policy written for the vessel, with worldwide or Mediterranean navigation and Greek-compliant liability built in.
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.
Do you legally need insurance to sail a yacht in Greece?
Yes. Greece requires third-party liability insurance for pleasure and tourist craft under 300 GT under Law 4926/2022, in force since 1 June 2022. You carry the insurance certificate on board, in Greek or English, and show it to the Port Master when asked. Can't produce it? The fine is €150.
| Cover | Per person | Per incident | Total or aggregate |
|---|---|---|---|
| Injury or death | €150,000 | €700,000 | €2,100,000 |
| Property damage | n/a | €150,000 | €450,000 |
| Pollution | n/a | €150,000 | €450,000 |
Here's the point that matters. Those figures are legal minimums, not a shopping target. Cover placed through London Marine Insurance Services runs third-party liability well beyond them, with in-house underwriting authority up to $5M and higher amounts placed across the Lloyd's market. You clear the Greek requirement with room to spare instead of buying to the floor.
The law applies to any craft in Greek waters, whatever flag it flies. So foreign-flagged and non-EU-owned yachts need the same compulsory cover. For a lower national floor, compare Spain's statutory minimum on our Spain page.
This is not financial advice. Confirm the current requirement with the Greek port authority before you sail.
How much does yacht insurance for Greece cost?
As a guide, annual premiums run at roughly 1% to 1.5% of the yacht's agreed value. What moves the number: the vessel's age and build, the skipper's experience, the cruising area and the claims history. We don't publish a single average, because two yachts of the same value rarely price the same.
| Agreed value | Annual premium | Per month |
|---|---|---|
| $150,000 | $1,500 to $2,250 | $125 to $188 |
| $300,000 | $3,000 to $4,500 | $250 to $375 |
| $500,000 | $5,000 to $7,500 | $417 to $625 |
| $1,000,000 | $10,000 to $15,000 | $833 to $1,250 |
To answer the question people ask most: insuring a $500,000 boat for Greek cruising runs about $5,000 to $7,500 a year, or roughly $417 to $625 a month. Unlike Greek and Mediterranean insurers who keep every figure behind a quote form, we publish the bands up front.
One more cost to keep separate. TEPAI is a Greek cruising tax, not insurance. We cover it in the cruising section below, and it never appears on your premium.
This is not financial advice. Figures are indicative bands from London Marine Insurance Services, not a quote. Your premium is set by underwriters on the yacht's details.
The Ionian, Aegean, Cyclades, Dodecanese, and the meltemi
Greece gives you four broad cruising grounds. The Ionian, on the west coast, is gentler and popular with families and flotillas. The Cyclades and the Dodecanese sit in the open Aegean and feel the meltemi most. Near Athens, the Saronic and Sporades fill in shorter, sheltered routes.
The meltemi is the Etesian wind, a dry northerly that blows hardest across the Aegean in July and August. For cover, that works out in your favour: the meltemi is insured as ordinary storm and wind damage under an all-risk hull policy.
Greece isn't an Atlantic hurricane basin, so there's no named-windstorm season, no hurricane box and no signed hurricane plan the way the Caribbean works. You can check the Atlantic hurricane basin with NOAA: the Mediterranean simply doesn't sit in it.
If your route runs from the Dodecanese across to the Turkish coast, tell us, so we confirm your navigation limits cover both sides of the border.
TEPAI: the Greek cruising tax
TEPAI is the Greek cruising tax on craft over 7 metres. It runs €16 a month for boats of 7 to 8 metres, €25 for 8 to 10 metres and €33 for 10 to 12 metres, then €8 per metre a month above 12 metres. Pay the year up front through AADE, the Greek tax authority, and you get a discount. It's a tax, not part of your insurance premium.
For the wider picture, see our Mediterranean yacht insurance pillar. Croatia's doubled deductibles are a separate story; Greek cruising keeps standard deductibles.
Chartering in Greece: bareboat, flotilla, ICC and charter-deposit cover
Greece is one of the world's largest bareboat and flotilla markets. Chartering asks three things of you: a skipper qualification, the right endorsement, and deposit protection.
The skipper qualification
Greek Port Authorities require the skipper to hold an ICC, the International Certificate of Competence, or a recognised national licence, plus a second competent crew member who signs a declaration of competency. This is enforced at check-in.
The endorsement (owner's policy)
A private-use policy does not cover chartering your yacht out. You need a charter or bareboat endorsement for that. Owners who charter can add loss-of-charter-hire cover, capped at €600 a day for up to 67 days under the LMIS wording, which pays out when a covered incident stops you earning charter income.
Deposit protection (charterer's product)
If you're the one chartering a boat, you'll leave a refundable security deposit, commonly €1,500 to €6,000. That's a charter-market range set by the operator, not an insurance price. A deposit-waiver or excess policy can protect it. This is a separate product from the owner's hull and liability policy, so don't confuse the two.
Chartering a catamaran? Charter cats dominate Greek fleets, and we cover them. See our catamaran insurance page, plus our bareboat charter insurance and charter yacht insurance guides.
What yacht insurance for Greece does not cover
We publish the limits plainly, because knowing them up front saves everyone time.
| Not covered as standard | Why |
|---|---|
| Trimarans, ferro-cement hulls, cigarette boats | Outside the eligible-hull list |
| Chartering the yacht out | Private-use policies exclude charter income and guest liability; needs a charter or bareboat endorsement |
| Racing risks and war or strikes | May need a specific add-on |
| Claims where survey conditions aren't met | Cover can depend on a satisfactory survey and photos |
A standard deductible applies per claim. Unlike Croatia, Greek cruising does not carry doubled deductibles.
This is not financial advice. Read the policy wording for the full terms.
How to insure your yacht for Greece with World Yacht Insurance
World Yacht Insurance is a specialist yacht-insurance introducer. Tell us about the yacht and where in Greece you plan to cruise using the pre-qualifying form, and we return an indicative Lloyd's-market quote by email within 48 hours.
Cover is placed at Lloyd's of London through London Marine Insurance Services Ltd, a Lloyd's-accredited broker authorised and regulated by the UK Financial Conduct Authority, firm reference 308599. Lloyd's is a market of underwriters, not a company you phone directly, so London Marine Insurance Services is the accredited broker that places and services the policy.
World Yacht Insurance is not an insurer and does not carry risk. See how it works for the full chain.
- 1
Tell us about the yacht
Vessel details, agreed value and where in Greece you'll cruise.
- 2
We put it to the market
We take the risk to the Lloyd's market through our broker partners.
- 3
You get a real indication
An indicative quote by email, usually within 48 hours.
Frequently asked questions about yacht insurance in Greece
Do you legally need insurance to sail a yacht in Greece?+
Yes. Third-party liability is compulsory for craft under 300 GT under Law 4926/2022, in force since 1 June 2022. Carry the certificate on board, in Greek or English, or the Port Master fines you €150. The legal minimums are low, so insure well above them.
How much does yacht insurance for Greece cost?+
As a guide, about 1% to 1.5% of the agreed value each year. A $300,000 yacht runs roughly $3,000 to $4,500 a year. Your exact premium depends on the boat, the skipper and the cruising area, so ask for a quote.
Is Greece a hurricane zone for yacht insurance?+
No. Greece is not an Atlantic hurricane basin, so there's no named-windstorm season, no hurricane box and no signed hurricane plan. The meltemi is covered as ordinary storm damage under an all-risk hull policy.
Do I need a licence to charter a bareboat in Greece?+
Yes. The skipper needs an ICC or a recognised national licence, plus a second competent crew member who signs a declaration of competency. Greek Port Authorities enforce this at check-in.
Does yacht insurance for Greece cover chartering the yacht out?+
Only with a charter or bareboat endorsement. A private-use policy excludes charter income and guest liability. Owners can add loss-of-charter-hire, capped at €600 a day for up to 67 days under the LMIS wording.
What is TEPAI and is it insurance?+
No. TEPAI is a Greek cruising tax on craft over 7 metres, from €16 to €33 a month by length band and €8 per metre a month above 12 metres. It's separate from your insurance premium.
Does my US boat or car insurance cover me in Greece?+
No. US car and travel policies don't cover a yacht in Greek waters. You need a marine policy with worldwide or Mediterranean navigation and Greek-compliant third-party liability.
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.
Ready to insure your yacht for Greece?
Tell us about the yacht and where you'll cruise. We return an indicative Lloyd's-market quote by email, usually within 48 hours.