What are the most important information yacht insurance providers, underwriters or brokers near me would need from a potential policyholder in order to deliver a reasonable yacht insurance quote? And why do they need these detailed data from me to calculate what my yacht insurance premium should be?
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When obtaining a yacht insurance quote in the UK or the United States for either a yacht that you already own or one that you are planning to buy, you will need to have the following information to hand:
- All your personal details and contact information like first and last name, age, gender, address, email address, occupation, phone number, etc.
- Full details of people in charge of the yacht including experience, previously owned boats, sailing qualifications and any claims. Be as honest as possible. The more experienced you are, the lower your yacht insurance premium.
- Details of the yacht including model, value, age, etc. The newer and more expensive your yacht model is the higher your premium.
- Engine manufacturer, horsepower, maximum designed speed and type of fuel.
- Details of the use – private, corporate entertainment or charter
- Value to be insured. This should be market value or price paid.
- Details of the mooring and the location and planned cruising within the first year of the insurance policy.
- And, finally the date of when you would like the yacht insurance policy to commence.
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You can always compare yacht insurance quotes online if your instinct tells you that your underwriter or insurer is ripping you off.
It’s super-easy to compare yacht insurance quotes from the comfort of your home once you are able to provide this information above. It’s always cheaper to get both the standard cover and third-party liability insurance from a leading yacht insurance provider because of the numerous, mouthwatering discounts they offer policyholders.
While the standard cover takes care of the loss and damage of your insured property caused, the third-party liability insurance cover takes care of the financial and legal cost your cruising yacht caused passengers and other boats.
When you request a quote for your superyacht from an agent, they will ask you basic questions that you already know the answers to so they can help you get the most affordable insurance for your yacht. This information needed when obtaining the cheapest yacht insurance rates can best be categorized into three: personal information, sailing history and more background.
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Where to get the best yacht insurance rates won’t be a problem if you are able to gather the information we listed above.