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Since 1989, Anchor Marine Underwriters has been providing exceptional service to our clients throughout the United States. Our clients include boat and yacht owners, charter operators, commercial vessels, floating property owners, personal lines clients and owners of marine-related businesses. Our knowledgeable staff has over 75 years’ worth of combined experience in marine insurance and related fields.
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Yacht Insurance
Finding the perfect coverage has never been easier.
Insurance doesn’t have to be boring. That’s why we hired Sara East to be our BA insurance writer. Maggie specializes in making mundane subjects hella-entertaining.
Yachts are a luxurious way to be on the water, but owning a yacht means having the right insurance in the event of damage or being destroyed. Because of their price, repair or replacement is likely to be very expensive making the proper coverage crucial for boat owners.
Before using your yacht, an independent agent can work with you to create a customized yacht insurance policy to your specific watercraft, its value, and how you use it.
Boating Statistics
No one likes to think about the dangers of boating, but accidents can happen and it's best to be prepared in the event that you face unexpected hardship. Whether you hit another boater, have an incident with a passenger, or your boat is damaged while being transported or docked, lots of things can lead to a financial headache for you.
Here are some statistics about boating accidents.
- Cabin motorboats, which include yachts, accounted for 14% of all boating accidents
- Only about 20% of all boaters who drowned were on vessels larger than 21 feet
- Operator inattention was cited as the leading cause of accidents involving cabin motorboats
What Is Yacht Insurance and What Does It Cover?
Yacht insurance is a specialized type of boat insurance for luxury boats. Yachts can be used for personal as well as commercial use, so insurance policies must be created to accommodate each of those needs.
While yachts, like most boats, depreciate over time, they still generally have a much higher than average value. Because of their high values, a standard boat insurance policy may not provide enough coverage for your vessel.
The components of yacht insurance are similar to standard boat insurance coverage.
- Bodily injury and property damage liability: Covers the costs associated with injuries or property damage you cause to another person, as well as legal fees. If the liability limits in your yacht insurance policy are not adequate to protect your assets from a lawsuit, you may want to consider buying an umbrella liability policy , which provides a much higher liability limit.
- Collision coverage: Pays for damage to your boat after a collision with another boat or object.
- Comprehensive coverage: Covers non-collision damage or loss, including theft, fire, vandalism, or damage caused by an object other than another boat.
Additional yacht insurance options to consider
- Uninsured/underinsured boaters insurance: Covers any damage or injuries from an accident with an uninsured or underinsured boater. Since boat insurance is rarely required by law, if you have a significant amount invested in a vessel, this is a good insurance option to discuss with your agent.
- Medical payments coverage: Covers medical expenses and funeral expenses for anyone on that is injured, entering, leaving or while on your boat.
- Equipment and personal effects coverage: Pay to repair or replace damaged or lost items such as gear, fishing equipment, cameras, and other personal belongings.
An independent agent can work with you to determine the appropriate coverage for your needs. Because these agents work with multiple insurance companies, they can help protect all of your interests with a broad range of insurance coverage, all from one agency office.
Is Yacht Insurance Different from Standard Boat Insurance?
Yacht insurance provides similar types of coverage as standard boat insurance . However, yachts have some specific differences from standard boats, and yacht owners generally need certain protection that regular boat insurance does not provide.
For example, a yacht policy tends to restrict hauling on a trailer to only a few hundred miles, while boat insurance tends to provide coverage for trailering over longer distances.
Also, deductibles for yacht policies are very flexible, instead of having set amounts like $250, $500 or $1,000. In addition, yacht policies can include coverage for raising and removing a sunken yacht, while boat policies generally do not include this coverage.
Is Yacht Insurance Required?
Yacht insurance is not typically required by state law. However, sailboats often do have insurance requirements. So, if you have a sailing yacht, insurance may be required by law.
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You will also need to buy insurance to protect your investment in your vessel if you finance the purchase of your yacht through a lender.
Many marinas require that you have insurance in order to slip your boat at the marina. Check your local marina's guidelines, and be sure to learn about your state’s laws and regulations.
Do I Need Yacht Insurance?
A yacht can range in price from $300,000 to several million dollars. Purchasing one is a big investment and having the ability to insure your investment can ease your mind if there's an accident or your yacht needs repairs or replacement.
Insuring your yacht is also not just about the boat. In the event that an injured party files a liability claim against you, you will want to have enough coverage in place to protect your boat, home, savings, investments, and future income.
Assessing your financial situation will help you to determine how much yacht insurance you need.
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How an Independent Insurance Agent Can Help with Yacht Insurance
A local independent agent will talk with you, free of charge, to learn about your yacht and insurance needs. They'll gather multiple quotes for you from several different companies and help you compare options and rates. Your agent can assist you with every aspect of your insurance and will be your point of contact if you need to file a claim.
An independent agent can help to prevent gaps in coverage that leave you exposed to risk. You will know you are getting the right coverage for your needs, and that you are not paying for any unnecessary coverage.
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Yacht insurance in the usa and beyond.
At Novamar Insurance Group our yacht insurance specialists have decades of marine insurance and boating experience ready to serve you. With so many variations of types of boats and yachts as well as the jurisdictional challenges that come with them as they travel around the world, it is imperative that your yacht insurance agent have extensive boating knowledge to understand an individual client’s exposures and coverage needs.
Our experience and reputation translates into excellent relationships with domestic and international underwriters which allows Novamar staff to provide the best yacht insurance solutions at the most competitive premiums .
When insurance programs do not exist to adequately cover exposures, we create our own proprietary programs such as our proprietary Mexican Vessel Liability Program with lower premiums and better coverage for people cruising in Mexican territorial waters.
Whether cruising local waters or internationally, you receive the same expertise and friendly service from our Novamar staff and often at lower premiums .
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Yacht Insurance Policies
Yacht insurance companies have a free hand to write exclusionary wording as they see fit. The coverages, and more importantly, exclusions vary greatly from policy to policy. Is vessel damage due to hitting a whale covered? If my boat sinks at the dock due to a through hull failure am I covered? Can I can loan my boat to a friend and still have coverage? Is my boat covered for the Agreed Value described on the policy Declarations Page or a depreciated amount? The answer to all of these questions and many others is the same – maybe yes, maybe no. It all depends on the boat insurance policy contract wording.
Let us explain all the possibilities you have with your boat insurance policy based on your vessel conditions.
Some policies contain a "Marine Life Exclusion" so hull or drive train damage from hitting a whale or large fish may not be covered.
Most policies exclude damage due to "Wear and Tear", Corrosion, and Gradual Deterioration". Sinking due to a through hull failure, non-functioning automatic bilge pump, leaky shaft log, etc. may not be covered.
Some policies have "Named Operator" or "Crew Warranties" that restrict who can operate the insured vessel. It is important to ask your broker if your policy includes these restrictions.
Premiums vary greatly depending on weather conditions, navigational hazards, and availability of repair facilities in various areas around the U.S. and around the world. It is important for insurance companies to know how many boats they insure in a given marina and harbor so that they can monitor their exposure in the event of a catastrophe i.e. marina fire or hurricane.
If a friend brings along snacks, and drinks am I at risk of losing my coverage? If a vessel owner accepts remuneration in exchange for being aboard the yacht, it can constitute a violation of the "Private Pleasure Warranty" resulting in a policy that is null and void. It is best to check with your agent, but generally speaking if a guest brings food, drinks, pays money, or provides any other compensation as a requirement to be aboard your vessel, then your policy is in jeopardy.
Some policies provide "Actual Cash Value" coverage not "Agreed Value" coverage. This means the insurance company will settle a total loss to your vessel based on their opinion as to the current value of the yacht and NOT an Agreed Value described on your policy Declarations Page.
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Our Experience is the Difference
The premier national marine insurance agency, we are specialists in the boat insurance industry. whether your coverage is for personal watercraft or a charter boat business, we cast a wide net of options to best suit your insurance needs..
For over 30 years, we’ve provided insurance for boats, yachts, charter boats and mega yachts throughout the United States. Be it a 11ft Seadoo PWC, 45ft Sports fisherman or a 330 Custom Mega Yacht, let our 30+ years in marine insurance work for you. Experience at the Helm matters. Experience in vessel insurance matters. Let our Experience work for you!
How Experience Makes Us Better
- We are marine insurance specialists that live, breathe, and cruise boats just like you do.
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Jack Martin & Associates
At Jack Martin & Associates, we've been providing premier yacht, boat, and marine insurance since 1929. Catering to clients across the United States and the world and with decades of marine-related experience, we are the aquatic insurance experts. Our independent agents offer comprehensive coverage options for new and existing boat and yacht owners. Specializing exclusively in boat, yacht, and commercial marine insurance, we provide a level of service that is unmatched. We are built on the character of our team and are committed to the success and financial stability of our clients, providing the utmost care in marine insurance.
What is Marine Insurance?
Yacht, boat, and marine insurance are types of liability coverage for your aquatic property. Your coverage will depend on your property, lifestyle, and insurance needs. Marine insurance covers not only damage to your vessel but also bodily injury and personal property on the boat. Boats are considered to be 26 feet or smaller, while yachts are considered 27 feet or larger, which impacts the type of insurance you will receive. Typically, yacht coverage is broader, more specialized, and more comprehensive due to the vessel's value, likelihood of traveling further, and more prospected time spent on board. While most policies do not include general wear and tear of your marine vessel, they are crucial in the event of costly damage.
Why Do I Need Marine Insurance?
Much like your home and car, your marine vessel is also an important investment. To ensure the utmost protection - and more financial stability in the event of damage - insurance is a sound solution. Stay protected in the event of theft, damage, or bodily injury with a marine insurance policy. Whether your boat or yacht is for personal or commercial use, insurance may come in handy. There are a number of risks your vessel may face, from extreme weather to collisions and more. Marine insurance can keep you afloat, even when your vessel can't. Some marinas or storage facilities require marine insurance to keep your boat on the property.
Why Jack Martin & Associates?
Our team of licensed professionals will help you decide on a policy that fits your needs. The cost of your marine insurance depends on a variety of factors, including:
- The vessel's value
- Geographic location
The team at Jack Martin & Associates will work with you in determining the best plan for your vessel and circumstances. Passionate about the water, our team treats every client as a member of the family. Our values of integrity, responsiveness, and professionalism are more deeply rooted, translating to unparalleled customer care for you.
Jack Martin & Associates is a division of the Avon-Dixon Insurance Agency , an Alera Group Company. As an Alera Group company, we have access to the resources, technical expertise and best practices of a large national firm, while maintaining our personalized, local relationships. The innovative culture of Alera Group allows us to collaborate with national partners to expertly meet your unique needs.
To learn more about Alera Group, visit aleragroup.com or follow them on Facebook , Twitter (@AleraGroupUS) or LinkedIn (@AleraGroup) .
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Sunset Yacht Insurance Solutions is a premier service yacht insurance brokerage founded by boaters, for boaters. Bringing over twenty-five years of experience both on the water and in the field, our team at Sunset is as passionate about boating as we are about providing unparalleled customer service.
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Your boat is more than "just a boat" to you. It represents a lifestyle that deserves to be protected by the best marine insurance on the water. With over 45 years of marine insurance experience, Markel provides a level of expertise that is unsurpassed in the marine industry.
Plus, unlike a typical homeowners insurance policy, we focus on marine insurance and have developed a wide variety of marine insurance coverage for almost any type of boat or watercraft.
What we offer
Our marine insurance offerings include:.
Specialized coverage designed specifically for boats 26 feet or less, such as pontoons, runabouts, fishing boats and more.
For watercrafts greater than 26 feet in length, such as a yacht, sailboat, sport fishing boat, trawler or houseboat.
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Coverage for speedboats greater than 26 feet in length and capable of speeds 66 to 120 m.p.h.
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Insurance for personal watercrafts (PWCs) such as a Jet Ski, Sea-Doo or WaveRunner.
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Lucantha difference
Marine insurance specialists
Lucantha Marine Insurance is an intermediary insurance broker with superior access to worldwide recreational and commercial marine markets. Our relationship with carriers include virtually all “A” rated marine insurance companies as well as pollution, surplus lines, P&I Club and Excess markets. From our convenient online application to simplified renewal documents and forms, Lucantha Marine Insurance makes writing and servicing marine business easier than ever.
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Lucantha is an intermediary insurance broker specializing in yacht, charter and commercial marine risks located worldwide.
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Chubb delivers tailored marine insurance solutions and sophisticated risk management services to address the unique needs of shippers, manufacturers, vessel owners and builders, and marine facility owners, from multinational manufacturers and logistics providers with global assets to national boat manufacturers and small yacht clubs and marinas.
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With an increased demand for items, such as sanitizers, disinfectants, and other cleaning agents, buyers have looked to international sources for raw materials and goods newly considered "essential." Chubb has developed a list of recent incidents involving the theft of low-profile goods, as well as a checklist to help protect high-risk cargo in transit.
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Welcome to Atlantic Yacht & Ship, Inc. We remain an integral leader in the yacht and ship brokerage industry, serving the yachting community since 1959. Atlantic Yacht & Ship, in Fort Lauderdale, Florida is located in the heart of the “Yachting Capital of the World”. Whether buying or selling a quality motor yacht, center console, or having your luxury yacht built. Atlantic Yacht & Ship is your one-stop resource for the highest quality luxury yacht sales and service in the yachting industry today. The dynamics in buying or selling a yacht are complex and time consuming, but at Atlantic Yacht & Ship, our team of professional yacht brokers are prepared to handle the entire process and create a positive and easy experience for all our clients.
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Sunken Superyacht Likely to Cost Insurers at Least $150 Million, Experts Say
Insurers of the Bayesian superyacht that sank this month, killing tech entrepreneur Mike Lynch and six others, could be on the hook for at least $150 million, according to the first estimates by industry experts.
The British-flagged 56-meter-long (184-foot-long) yacht, which the experts estimated cost around $40 million, capsized and went down on Aug. 19 within minutes of being hit by a pre-dawn storm while anchored off northern Sicily.
The superyacht’s hull was insured against physical damage by yacht insurance provider OMAC and a consortium of insurers including Travelers Cos. Inc., Navium Marine, and Convex, Reuters reported last week.
Yacht Insurer OMAC Is Hull Carrier for Yacht Sunk Off Sicily, Sources Say
Its protection and indemnity (P&I) insurance, which typically covers third-party liability claims including for environmental damage, injury and death, was provided by British Marine.
The hull was likely insured for around $40 million, while the P&I cover would be larger, insurance sources said.
“Our understanding is that the cost of the boat was between $40 and $50 million, so the limit of the hull & machinery policy was probably around those values,” said Marcos Alvarez, managing director, global financial institution ratings at Morningstar DBRS.
The P&I policy would likely be “several multiples” of the hull policy, or $200-300 million, Alvarez added, noting it would also likely cover liability payments even if the captain or crew are found to be negligent.
Prosecutors in the town of Termini Imerese, near Palermo, are investigating the captain and two other crew members. An investigation does not imply guilt or mean formal charges will follow. Prosecutors have said the probe would take time and require salvaging the wreck.
Oscar Seikaly, CEO of broker NSI Insurance Group, that provides yacht insurance, estimated the hull value at $40-70 million, but said P&I cover might not total more than $100 million.
P&I insurance would also cover recovery of the Bayesian, said Francesco Dubbioso, country manager for Italy for insurer Alta Signa Europe, who estimated the superyacht’s value at $30 million to $40 million.
Reuters is the first to report the potential insurance costs. OMAC, Travelers and Navium Marine did not immediately respond to Reuters’ for comment. Convex declined to comment.
The Bayesian disaster, which has puzzled experts who said the boat would have been built to withstand a severe storm, adds to recent woes for yacht insurers, who have faced a raft of hurricane losses in the past few years.
Premium rates have risen by four to five times in the past couple of years in parts of the U.S. and the Caribbean, and yacht insurers have cut the amount of cover they provide because of the risks, Seikaly said.
As a result, insurers have increased rates and re-evaluated their guidelines and risk appetite, according to industry experts.
As well as hurricanes, insured losses have mostly stemmed from severe storms, floods, and other weather events in North America, the Caribbean, and Europe, according to a report by broker Marsh.
Seikaly said four clients had last week been ready to buy boats but changed their minds because of the high cost of insurance.
Climate change was also likely to add to yacht insurers’ worries, Seikaly added, as it throws up more unexpected events.
“Whoever thought a storm in the Mediterranean in the month of August is going to sink a ship?”
(Additional reporting by Sinead Cruise; editing by Michelle Price and Sandra Maler)
Photograph: Italian Firefighters scuba divers bring ashore in a blue bag the body of one of the victims of the UK flag vessel Bayesian, on Wednesday, Aug. 21, 2024. (AP Photo/Salvatore Cavalli)
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We are an Independent Insurance Agency, which means we have made available some of the best companies for your online quick quotes . We service Moscow ID , Pullman WA , Lewiston ID , & Cheney WA areas, and throughout the state of ID . At Kelly Kimberling Insurance Agency each one of our clients are given a dedicated team of professionals that work together to proficiently address all your concerns. We offer all types of Personal Insurance coverages to our clients in ID, including Auto , Home , Motorcycle , Boat & Watercraft , Flood Insurance , and Life and Health Insurance . Give one of our agents a call to save money on your business insurance . Some of our Commercial insurance coverages include Business Owners Packages (BOP) , General Liability , Commercial Auto , Commercial Real Estate Insurance , and Contractors Insurance . Let us help you cut your insurance cost! Just give us a quick call today at 208-882-4414 or submit one of our quick online quote forms - with the help of our dedicated business partners; we conveniently offer an entire solution for all your personal and business insurance needs.
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Kelly Kimberling Insurance Agency is renowned for treating clients like family with our genuinely friendly customer service. Our team excels in offering personalized, clear guidance, making insurance approachable. We prioritize understanding and addressing client needs with warmth and patience.
Experience and Knowledge
The Kelly Kimberling Insurance Agency in Latah County, Moscow, ID. transforms your insurance journey with unmatched expertise and experience. Our dedicated team simplifies complex choices, ensuring personalized coverage that fits your unique needs, with the assurance of our long-standing industry knowledge and commitment to excellence.
This page contains copy documents related to AXIOM InRe Insurance Brokers
Constituent documents
- Financials
Client Money Banking Details
AXIOM InRe Insurance Brokers are trading under a Simplified Tax System (‘STS’), a combined rate of taxation that replaces three federal taxes (the VAT, the Federal Corporate Income Tax and Tax on Wealth/Property) with a single uniform tax.
The STS provides significant taxation benefits within a straight forward accounting and reporting environment that does not require statutory audit.
Audited Accounts 2019
- Corporate governance structure and principles
Shareholders
Executive Team
AXIOM InRe Insurance Brokers values corporate governance as a tool to increase the efficiency of its operations, strengthen its reputation.
The corporate governance of AXIOM InRe Insurance Brokers is based on the principles of justice, honesty, responsibility, transparency, professionalism and competence.
AXIOM InRe Insurance Brokers strive to follow the standards of good corporate governance, and to constantly improve and develop our corporate governance system, the fundamental principles of which are as follows:
- separation and delegation of responsibilities
- protection the rights and interests of our shareholders
- effective management of the company by the board and the management
- sustainable growth of the company
- fair regulation of corporate conflicts and conflicts of interest
- transparency and integrity in information disclosure
Mr. Yaroslav Dildyaev
Mr. Viacheslav Menshutin
Mr. Mikhail Mumin
Mrs. Larisa Sudina
Mr. Yaroslav Dildyaev, Chairman
Mr. Mikhail Mumin, CEO
Mr. Pavel Zagorsky
Mr. Michael Mumin, Director General (Chief Executive Officer); appointed 15.10.2014.
Mrs. Galina Kalincheva, Chief Accounting Officer; appointed 01.02.2012.
- Licence and Certificates
- Professional Indemnity Insurance
Anti-bribery and Corruption
Banking Details
Industrial Standards
Our unintended professional errors and omissions risks are insured, as seems to be adequate for the purpose
Professional liability insurance contract
Anti-Corruption and Fraud Prevetion Policy
Base Standard 79E27F60
Base Standard 79E27F59
AXIOM InRe Insurance Brokers are not involved in personal lines business.
AXIOM InRe Insurance Brokers are able to work with any of the local insurance companies providing they satisfy our strict security requirements; among other domestic insurers (reinsurers), these include SOGAZ Insurance, Alfastrakhovanie PLC, Absolut Insurance, GIC Perestrakhovanie, Ingosstrakh Insurance Limited, the RNRC, Rosgosstrakh, Sberbank Insurance, Soglasie Insurance, and VSK Insurance.
The above list is not limited or exhaustive, AXIOM InRe Insurance Brokers placed / are able to place insurance or reinsurance with other domestic markets that qualify under the specifications set by our clients.
Registered Address : Russian Federation, 125627, Moscow, Kurkino Municipal District, Sokolovo-Meshcherskaya Street, Building 25, Room 15 BIN 990940003090
Phone numbers: +7(499) 557 0023, 7(499) 643 3040
Working hours: Monday to Friday from 09:00 to 18:00, break from 13:00 to 14:00. Saturday, Sunday - day off
Member info
Full information About Member, contact
Malakut Insurance Brokers LLC
Tel: +74959331373 FAX: +7 4959331370 Email: [email protected] Web: www.malakut.com
HQ Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia
International Practice Group Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia
Legal form ofthe company (plc etc. ): LLC
Registration number of the regulatory authority: 4004
Business area / specialization:
Corporate P&C
Personal lines and EB
Aviation and Space
Marine and Energy
Trade Credit
Reinsurance
Company Representatives
Tatiana Razuvaeva
+7 495 933 1373 +7 916 473 7884 +7 495 933 13 70 [email protected]
telephone mobile fax e-mail
COMMENTS
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Welcome to Kelly Kimberling Insurance Agency. We are an Independent Insurance Agency, which means we have made available some of the best companies for your online quick quotes. We service the Latah County, Moscow, ID. areas, and throughout the state of ID.At Kelly Kimberling Insurance Agency each one of our clients are given a dedicated team of professionals that work together to proficiently ...
BIN 990940003090. Phone numbers: +7 (499) 557 0023, 7 (499) 643 3040. Working hours: Monday to Friday from 09:00 to 18:00, break from 13:00 to 14:00. Saturday, Sunday - day off. AXIOM InRe Insurance Brokers is an experienced, service focused and innovative insurance intermediary based in Moscow. Established in 2003, AXIOM InRe ...
HQ Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia . International Practice Group Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia
126 N Garfield, Moscow, ID 83843 is a 2 bed, 1 bath, 1,098 sqft house now for sale at $325,000. MLS# 98923413.