Watercraft

Masterpiece Yacht Preference

  • Masterpiece Yacht Preference fulfills the specialty insurance needs of luxury yacht owners with captained vessels 70 feet in length and greater, valued at $3 million or more.

Exceptional yachts require specialized insurance protection, and our Masterpiece® Yacht Preference® policy provides a broad range of coverages, along with many other valuable and unique policy features.

Coverage Highlights

  • No depreciation applies on the following items: Machinery inside the hull, Personal Property, dingy/tender, and Personal Watercraft.
  • Emergency Towing Service – We include coverage up to the amount of Property Damage with no deductible.
  • Occasional Charter Coverage is available.
  • Medical Payments – The medical payments limit offered is on a per occurrence basis, and we will pay costs incurred up to three years from the date of occurrence.
  • Captain and Crew Coverage – Liability coverage is extended to the captain and crew members serving aboard the insured yacht.
  • Marina as Additional Insured – The marina, yacht club, or similar facility where the insured yacht is docked, moored, or stored is included as an Additional Insured.
  • Mooring or Slip Rental Agreement Waiver – When waiver of subrogation is required through a written contract by a yacht club, marina, or similar facility used for the purpose of storage or slip rental, our Masterpiece Yacht Preference policy will permit an insured to waive their rights of subrogation.
  • Defense Costs – Defense costs are included in addition to the limit of liability and includes up to $50,000 loss of earnings.

Benefits

  • A multitude of deductible-free coverages.
  • Worldwide navigation limits are available.
  • “Blue Cards” for Mediterranean cruising – required as proof of insurance in Italy, Spain and Greece – free of charge.  

Deductible-Free Coverage

No deductible will be applied to the following items:

  • Tenders and Personal Watercraft
  • Navigational and Communication Equipment
  • Personal Property Limits up to $100,000 to repair or replace
  • Fine Arts Coverage up to $25,000
  • Motorcycle and Moped Coverage
  • Temporary Substitute Watercraft to $150,000
  • Loss of Charter Income $100,000
  • Search & Rescue and Emergency Services Coverage $50,000
  • Living Expense after Loss $5,000
  • Marine Environmental Damage Fines and Penalties up to $100,000
  • Bottom Inspection Coverage
  • Fire Arms Coverage $5,000
  • Essential Document Replacement Coverage $2,500

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