If you own a yacht, you want to protect your investment with insurance. Unfortunately, not all insurance policies and protections are created equal. Terms and coverage options vary greatly from one insurance provider and insurance policy to the next.

That is why it is important to take a hands-on approach, so you can choose a yacht insurance policy that meets your needs, satisfies your risk tolerance, and gives you peace of mind. These are a few elements that are essential to offer the protection most people desire.

Abundant Liability Protection

General liability coverage, even large amounts of this essential coverage, is not enough. Boat owners need additional protection from hazards and liabilities that are unique to them. This includes different types of liabilities, like the following, and more.

• Watercraft bodily injury liability insurance
• Watercraft property damage liability
• Marine vessel pollution liability insurance
• Medical payments insurance for passengers on your vessel
• Workers compensation insurance for crew members

Each of these is an important piece of your liability protection. You may also consider purchasing an umbrella liability yacht insurance policy in case the damage exceeds your maximum coverage. The beauty of liability insurance is that even if people see dollar signs when they see your yacht, you are protected from legal fees from even nuisance lawsuits if you choose the right yacht insurance.

Hull Insurance for Yachts

Hull insurance is an important component of your yacht insurance policy. This insurance provides protection against covered events to your hull, machinery, and equipment. It does not provide protection against neglect, normal wear and tear, and other specified exclusions. You'll need to read the specifics of coverage offered from one insurance provider to the next to determine which yacht insurance policy for hull damage meets your needs best.

Towing and Assistance Insurance

The nature of sailing is one of risk. There are many perils that can strike at any time when you're on the water. People who own large boats and yachts generally travel farther off the beaten path than smaller boats and need to be towed farther if something goes wrong. The farther you must be towed to safe harbor, the greater the cost. Yacht insurance can help you cover the distance without facing serious financial hardship.

Boating is more than an activity. For most sailors, it is a passion. That doesn't mean it is without risk. The right yacht insurance policy won't shield you from all risks the water and Mother Nature have to offer. It will shield you from many of the financial risks, though, as long as you choose the right policy.

For more information on the right yacht insurance policy for you, contact a company like Blue Water Yacht Insurance, Inc.