Different Types Of Yacht Insurance Cover
Hull and Machinary Loss or Damage Cover
Loss or physcial damage to the boat due to the perils in the waters and other external factors of human risk related to the vessel is covered in this category.
All Risk Comprehensive Insurance
Loss due to all perils and incidents are covered under Comprehensive Yacht Insurance . Coverage will be excepted for the excluded perils as per the policy.
Market Value Insurance
In this case of yacht insurance policies insurer agree to pay the market value of the yacht in the case of total loss. This value may be different than the policy inception value becuase of the depreciation
Agreed Value Insurance
In this case of yacht insurance insurer agree to pay the full value of the insurance in case of a total loss. This value is agreed by the insurer and the policy owner at the time of inception.
Third Party Insurance
This type of yacht insurance compensate any liability occurs to the third party such as bodily injury,damges,leagallibaility cost etc.