How to Protect Your Yacht and Reduce Your Yacht Insurance Cost

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What can you do to get a reasonable yacht insurance quote online? How does protecting your cruising yacht help in reducing your yacht insurance cost? And why is it important to get boat insurance coverage?

The average cost of a yacht is about US$8.4 million, according to sales data. The price of a smaller 40 feet yacht starts from $300,000 to several hundreds of million dollars for the largest superyachts.

A yacht is one of the luxury properties of the super rich. If you decide to own one, it will be foolish not to make an effort to protect yourself financially in case of an accident, theft or damage.


Is Yacht Insurance a Legal Requirement in the UK?

Unlike other types of properties like a car, there’s no legal requirement mandating you to insure your yacht. Instead, emphasis is laid on getting third-party insurance. A minimum of £1 million third party liability insurance will be required of you before your yacht is registered for use on inland waterways and usually £3 million at most marinas.

In order to get the best cover at the most affordable price, you will need a yacht insurance calculator. With this you can compare yacht insurance quotes online by taking into account the size of the yacht, whether you race, where it’s stored and what kind of training you have.

Another smart way to reduce your yacht insurance cost is to improve the security of the boat.

In today’s article, you will learn super-interesting ways to protect your boat and its content and as a result, dramatically reduce your cost of yacht insurance, be it in the UK, USA or Australia.


10 Things You Can Start Doing Now to Protect Your Yacht and Reduce Your Insurance Cost

  1. Always keep an inventory of your boat’s contents up to date – this will help you ascertain exactly what’s gone missing in the event of a theft.
  2. Install secure storage. This will enable you to store any valuable equipment in secure lockable compartments whenever you leave your boat unattended.
  3. Install an alarm. Also, include a tracking device in case the boat is stolen and ensure an anti-theft device is fitted to your outboard motor.
  4. Use a lockable fuel cap to prevent theft of valuable fuel. Fix a deadbolt type lock to prevent entry to your vessel’s cabin.
  5. Secure your boat for any stop when on a trailer with a wheel clamp. Always secure your dinghy to the primary boat using a chain or cable with a padlock.
  6. Choose a marina with full-time security and good lighting. Quite a good number of auto insurance providers in California are good examples.
  7. Never store personal possessions or fishing equipment, remove them from the boat when not in use.
  8. When storing your boat at home avoid leaving it visible and accessible from the road or street.
  9. Do not leave registration or documentation on the boat when not in use and if leaving your boat unattended for an extended period ask someone to check on it regularly.
  10. Ensure that your yacht insurance provides adequate protection against theft, damage and accident.


Most yacht insurance providers would like to know how secured your yacht in order to perfectly calculate your yacht insurance cost. The protected it is, the less you will pay in insurance cover.

To save time and energy when shopping for the most affordable rate, we recommend that you reach out to the best yacht insurance brokers near you. As a result of the global challenges facing yachting insurance providers in the UK, some of them are forced to exit the market.

With the expert advice of yacht insurance brokers, you will learn how to qualify for a yacht insurance discount. A 20% yacht insurance discount would apply for customers who berth at marina’s that Towergate Insurance UK is in partnership with, such as Premier Marina, Quay and BWML.

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