- An insurance policy that provides coverage for losses and liability on pleasure boats and yachts. Yacht insurance can cover damages to the boat, damages to the property of others, or liability for personal injury.
sea vessel insurance, boat insurance
Related Terms and Acronyms
- Homeowners Insurance — Definition,
- A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
- Marine Insurance Policy (MIP) — Acronym,
- Unvalued Marine Policy — Definition,
- Insurance that covers a marine asset to an unspecified dollar amount.
- Valued Marine Policy — Definition,
- Insurance that covers a marine asset up to a specified amount.
- Voyage Policy — Definition,
- Insurance that covers assets being transported by sea.
- Watercraft Non-owned Insurance — Definition,
- Insurance that covers damages to watercraft not owned by the policyholder.
- Yacht Damage Waiver (YDW) — Acronym,