Yacht Liability Insurance

Are You Covered?

Liability insurance protects you from claims from injuries or damages to third party persons or property. If you are found negligent in the unfortunate event of an accident, you could be held liable for damages done to property and to other people. If you have liability insurance, your insurance company will most likely step in and could pay up to the amount listed under under your liability limits. However, if you do not have liability insurance you can still be held liable and required to pay for the damages. In addition, even if you do have liability insurance but  you opted for a lower amount of coverage, the insurance company may pay up to the policy limit, but you are required to pay any remaining amount. If you cannot afford to pay for the damages, then your assets are at risk and your wages could be garnished.

So what do you need to do to protect yourself?

First, do not be overwhelmed or fearful. No one should live in fear for the “what ifs” in the future. However, it is a good idea to discuss liability limits when purchasing yacht insurance. The limit you set is a personal decision, so keep in mind the possibility that accidents may occur. Several marinas require that you purchase a minimum amount of liability insurance before signing a mooring contract, but make sure you feel comfortable that the minimum amount is enough to protect you from an unfortunate event.


Be sure to ask about full coverage options, too!