Yacht Insurance Availability Examined In The UK and US
Because yachts are not as common as cars, homes, or even motorcycles, we do
not see many yacht or boating insurance companies advertise on television.
However, there are many insurance companies all over the United States and
United Kingdom that either offer boating insurance, or are totally dedicated
to it alone. It is more common to find yacht insurance companies near the coast,
but many inland insurance companies also offer policies for boating. However,
these policies may be more limited than those offered by a coastal insurance
company that only deals with boat and yacht insurance.
In the United States, it is very common to find yacht insurance companies
in California, Florida, and New York. These are the states where yacht ownership
is highest and where most yachts are docked. If you live in another state and
plan on docking your yacht in California, Florida, or New York, you may want
to consider using an insurance company located in that state rather than your
home state. The insurance company will be able to process your claim faster
if they are near you when you make the claim. Most often they will need to
come out to see the boat and this is easiest when they are near by.
Yachting is also very popular in the United Kingdom and because you are never
as far away from the Ocean in the British Isles are you can be in the middle
of America, yacht insurance services tend to me more widely spread out in the
United Kingdom. However, yacht insurance is still easier to find in cities
near popular docks. The location of your yacht insurer should be chiefly determined
by the location of your yacht and favorite boating spots.
Finding an insurance company to insure your yacht is made very easy with the
Internet. You can simply search for yacht insurance in your country or state
and find companies online with web pages and contact information. This is much
easier than trying to find an insurance company by phone book because not all
of them are listed due to the more limited need of yacht insurance versus auto
and home insurance. Many insurance companies also offer online quotes that
allow you to make general comparisons without having to pick up a phone or
waiting until business hours. These online quotes may not be totally accurate
depending on the nature of your insurance needs, but they do give you something
to go on until you start making phone calls and asking specific questions about
plans and pricing.
Many homeowner insurance policies will cover small
boats, but they will not cover larger yachts and tend to offer fairly spotty
coverage. You should not rely on your homeowner insurance unless your boat
is small and inexpensive. If you need help finding the right insurance policy
for your yacht and your needs you can use an insurance broker. An insurance
broker’s job is to
track down insurance companies and compare policies. You pay the broker a premium,
but doing this will save you time and make sure that you get the right policy
for your needs while paying as little as possible in the long run.