Yachts

Yachts are usually regarded by their owners (and sometimes even by their insurance agents) as just anotther personal asset to be insured like a car or a house. If the policy has an anchor on it, it must be good!

Wrong! Unlike homeowners and auto policies which are closely regulated by the varoius state insurance departments, there is virtually no governmental oversight for yacht insurance contract wording or policy premium charges! Since the yacht insurance contract is essentially unregulated, every insurance company that writes yacht insurance has their own policy wording.

Large Yacht Insurance

Buying boat/yacht insurance is a little like buying a boat -- you can have two separate boats of the same length and still have a world of difference in quality. Some insurance companies even have a “premimum” yacht policy (the “good” policy) and an "economy" boatowners policy (the “not-quite-so-good-as-the good ” policy).

At Northeastern Underwriters, we do not view yachts as a "commodity" insurance item, so we do not have an on-line template for quotes. We have included a boat/yacht information sheet, if you would like to get an estimate for your boat insurance coverage. We use the word “estimate” rather than quote, because the information sheet asks only for the bare essentials, so that we can get you an appoximate premium quote without wasting your time. Your yacht is important enough for us to "shop" for a yacht insurance carrier who writes a good contract at a good price. If you decide you want us to write a policy on your boat, we can get the balance of the information on a formal application to confirm the premium and issue a policy.