Yacht Insurance
Definition of "Yacht insurance"
Coverage for fire and explosion, against fire and any damage caused by explosion whether or not fire ensues, and whether or not an explosion occurs on- or off-board; sinking from floating debris, sunken hulks, and reefs; stranding against sand bars and filled channels resulting in salvage costs, material and labor expenses to refloat and repair a yacht; collision causing legal liability for damage to another vessel; assailing thieves (theft by forcible entry); and jettison and barratry of mariners or masters. Coverage for liability for bodily injury and loss of life is available through ocean marine protection and indemnity insurance.
Popular Insurance Terms
pool that contains various reinsurance companies with each sharing reinsurance contracts on a pro rata basis as they are submitted to the pool. market that operates much like the New York ...
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