When you are shopping for yacht insurance, it is important to make sure you are purchasing the right kind of coverage — and enough coverage — to protect yourself.
Boat accidents, even those involving smaller watercraft, can be expensive to resolve. Your boat is also subject to potential risks, from vandalism, theft and lighting to fire, sinking and grounding. If you have an umbrella policy, you will need to make sure your yacht insurance policy includes the minimum coverage amounts specified to trigger the umbrella insurance.
While not all states require yacht owners to buy yacht insurance, it is a smart move. Similar to liability insurance for your car, yacht insurance is intended to protect you from personal liability in the event that your yacht is involved in an accident that damages someone else’s property and/or causes injuries to others. KORE will work closely with you to identify your coverage needs and shop a range of providers to find insurance policies that offer the protection you need at an affordable price.