Pleasure Boats
We have policies for vessels from 18' to in excess of 100'
with values ranging above $3,000,000.

Commercial/Guide Boats
We have one of the most competitive markets available for this type
of vessel which can also include multi-passenger excursion vessels.

The difference between a yacht and charter boat policy is that one allows you to make money with your boat to offset expenses, while the other is strictly for private pleasure usage. Some yacht insurance carriers will endorse their policy to allow up to 30 charters per year. More that that dictates you need a commercial usage, full charter usage policy.

General Information
Yacht and small boat policies come in 2 different forms; agreed value and actual cash value. The agreed value form pays the value shown in the declarations page of the policy with no deduction for depreciation, a new for old basis. The actual cash value form depreciates repair costs or what the company will pay, regardless of what the insured value is.

The premium for an agreed value policy is going to be higher than for an actual cash value policy. However at the time of a claim settlement you will be better off financially. Able Maritime Yacht Insurance sells Agreed Value Policies.