Yachts Insurance in Miami, FL

When the days are clear and weather is warm, we know that the first thing on your mind is going out on the water. Your boat allows you to get away from all the stress and pressure of the mainland and kick back by yourself or with good friends.

Owning a yacht can provide you and your guests with exciting opportunities to set sail in style. These vessels may offer the chance to travel the waters of the world while enjoying the luxury and comforts of home. However, these opportunities and amenities also contribute to significant risks and exposures that must be accounted for, such as with a versatile and robust yacht insurance policy. 
 

Our watercraft insurance plans can provide you with coverage against many different types of loss.

Boat Quote

We offer:

Physical Damage Coverage

This optional coverage is typically designed to take care of your boat, motor, and trailer. Our agents will help you determine the right amount of physical damage coverage for each boat on your policy. You will also need to choose a deductible (the amount you would pay on a claim) before your policy kicks in.

 

Liability Coverage

If you're involved in an accident, there's a good chance another person or another watercraft is involved. And if you're at fault, you'll need liability coverage. You can choose a lot of liability coverage or a little – it's up to you. We'll show you what coverage and limits may be available, and how to get the maximum personalized protection you need.

 

Medical Payments Coverage

We offer medical coverage that can cover your eligible medical expenses if you get hurt when on the water.

Our products offer coverage not always found in standard policies.

• Extended navigational limits
• Emergency living expenses
• Agreed value claim settlement
• Customized coverage for large yachts
• Uninsured and Underinsured Motorist protection
• Newly acquired vessel coverage

What Is Yacht Insurance and How Does it Work? 
As its name suggests, yacht insurance can provide a critical financial safety net across many common risks and perils that may affect you and your vessel. Like many types of insurance, yacht insurance policies represent a legal agreement between you and your insurance company. Generally, these agreements entail assurance that as long as you maintain your insurance through premiums, you can retain access to funds and resources in response to covered incidents up to your policy’s limits and minus any deductibles. 

What Does Yacht Insurance Cover? 
The exact capabilities and limitations of yacht insurance may vary, but policies may often include the following features: 

• Liability coverage may help pay for third-party losses for which you are responsible.
• Hull coverage may compensate you for damage to your vessel, including its engines, sails and attached equipment.
• Personal effects coverage may financially protect your belongings stored or transported in your yacht.
• Towing and recovery coverage may help pay for losses and expenses if your vessel breaks down, such as for towing, labor costs and having supplies (e.g., gas and oil) delivered.
• Uninsured/underinsured watercraft coverage may provide financial assistance if another party is at fault for damaging your yacht but lacks adequate insurance. 

Who Needs Yacht Insurance? 
Although yacht insurance is typically not required in most states (including Florida), responsible owners should still highly prioritize this type of coverage. Without an adequate policy, even the most experienced and diligent sailors and seafarers may eventually be involved in incidents that could incur significant damages to their boat or liability for other losses. Lacking coverage could mean an inability to repair or replace your vessel and lasting financial ramifications. 

Get the Right Coverage 
Having served individuals, families and businesses in Miami and throughout Florida since 1986, Tanenbaum Harber of Florida has the knowledge and experience to ensure you and your yacht are adequately covered. We will work with you to identify your insurance needs, assess available options and assemble optimal policies. Contact us today to learn more or to receive a personalized yacht insurance quote.