Top 5 yacht insurance companies for Americans

Shopping for yacht insurance helps you protect what's likely one of your most valuable assets. As an American yacht owner, you're looking for comprehensive coverage that keeps you and your personal watercraft safe while cruising.

The right yacht insurance depends on where you sail, how you use your vessel, and what level of protection makes sense for your situation.

Here are a few options for top yacht insurance companies in the US so you can make an educated decision about your insurance protection.

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What does a yacht insurance company generally offer to its customers?

Yacht insurance companies provide financial protection for your vessel and help cover your liability if something goes wrong on the water.

At a minimum, most policies include hull coverage, which pays to repair or replace your yacht if it's damaged or destroyed, and liability protection, which covers you if your boat causes injury to someone or damages another vessel or property.

Beyond these basics, some yacht insurance companies offer additional coverage options, such as protection for your personal belongings on board and coverage for towing and assistance if you break down.

In the US, boating accidents resulted in roughly 67.5 million USD in property damage, along with 658 fatalities and 2,641 injuries.¹

Without insurance, you're personally responsible for damages, medical payments, and legal costs that can easily run into hundreds of thousands of dollars in a yachting accident.

Top 5 yacht insurance companies for Americans

1. Chubb

Chubb brings over a century of yacht insurance experience to the table, specializing in vessels 36 feet or longer through their Masterpiece Yacht policy.²

Their coverage stands out from many other providers for paying the full agreed amount with no deductible on total losses, and they handle most partial losses without depreciation deductions.

There is also automatic coverage for things that often get overlooked, like emergency towing, oil pollution requirements under federal law, and up to 10,000 USD for environmental damage fines.²

Overall, this is a great option for high-value yachts that need top-quality insurance protection.

2. Progressive

Progressive offers boat insurance, not yacht-specific coverage, but their policies work for most recreational vessels up to 50 feet long and valued at 500,000 USD or less.³

This yacht insurance company can be a practical and affordable choice if you own a smaller yacht or don't need the specialized coverage that comes with luxury yacht policies.

Their standard coverage includes protection against common risks like sinking, fire, theft, and storms, plus they automatically include wreckage removal and fuel spill liability.

Policies start at around 100 USD per year for basic protection, but opting in for add-ons will naturally make your yacht insurance premium go up.³

3. Markel

Markel insures vessels over 26 feet and offers both comprehensive coverage and liability-only options, which is useful if you only need protection against damages you cause to others.⁴

Also, unlike many insurers, Markel provides liability coverage without requiring a survey, even for older yachts.

This company's insurance coverage also includes things that many other insurers often exclude or charge extra for.

For example, if your yacht suffers fire, explosion, or collision damage that stems from normal wear and tear, Markel's consequential damage provision may still cover you.

They also offer personal liability coverage if you live aboard your yacht.

4. Great American Insurance Group

Great American focuses on coverage for luxury yachts, with minimum values starting at 2 million USD and requirements for full-time professional crews.⁵

You can choose from two policy levels: Advanced for industry-leading coverage and Pro for competitive protection similar to standard market offerings. Both can be purchased as hull-only policies if you only need physical damage coverage.

Great American's pollution and Certificate of Financial Responsibility coverage sets them apart because they're currently the only US yacht underwriter that can bundle comprehensive yacht coverage with pollution certificates.⁵

5. PURE Insurance

PURE Insurance is a member-owned reciprocal exchange for high-value assets. They insure newer vessels and provide coverage in both US and international waters.

This company's policies use agreed value coverage, so you get the full agreed amount without a deductible if your yacht is totaled. Most repairs are paid without deducting for depreciation, and emergency towing and fuel delivery come with no deductible.

If your yacht is out of service for more than 14 days after a covered loss, PURE pays up to 1,500 USD per day for 7 days to rent a replacement vessel.⁶

Is getting a yacht insurance company worth it?

Yes, yacht insurance can protect you from big financial losses. If your yacht is damaged, stolen, or causes injury to someone else, you're personally responsible for all costs without coverage.

In the following situations, you may also be required or highly recommended to get yach insurance coverage:

• Your marina or yacht club requires proof of liability coverage before allowing you to dock
• You financed your yacht, and your lender mandates comprehensive and collision coverage
• You sail in areas prone to hurricanes, storms, or other weather-related risks
• You regularly have guests aboard who could be injured in an accident

Overall, if your yacht is worth enough that replacing it out of pocket would cause financial hardship, it's a reliable sign that getting a yacht insurance policy is worth it.

Bottom line

As an American yacht owner, you have a few solid insurance company options to choose from, such as Chubb, Great American, and Markel.

If you're looking for something more affordable, you can research Progress. For membership options, PURE Insurance can be a great choice.

If you take your yacht on international trips, you're probably losing a lot of money every time you use your credit card abroad or send wire transfers.

Foreign transaction fees and poor currency exchange rates add up quickly, especially on large expenses like marina fees, fuel, and repairs in other countries.

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Sources

1. InsuredBetter - 7 Best Boat Insurance Companies of 2025
2. Chubb - Yacht Insurance
3. Progressive - Boat Insurance
4. Markel - Yacht Insurance
5. Great American Insurance Group - Luxury Yacht Insurance
6. PURE Insurance - Watercraft Insurance

Sources checked 12/18/2025