Great American provides comprehensive coverage for Luxury Yachts valued between $2 million to $25 million. Coverage is available to U.S. and Canadian owners. While coverage is available for privately owned yachts, we can provide coverage under a corporate Named Insured and include occasional charter exposures.
Individual-Account Approach to Service
- Risks are individually underwritten by a team of dedicated and experienced yacht underwriters.
- Support provided by commercial ocean marine claims unit.
Two Policy Forms
- ADVANCED is Industry Leading by design.
- PRO is Industry Competitive – similar to most offerings, but still broader.
- HULL ONLY is available on each contract.
- Easy-to-read forms and Declarations pages
Key GAIG Coverage Differentiators
- Industry Leading Additional Coverage.
- Deductible waiver for:
- Fire damage originating away from the yacht.
- Not only damage to the boat, but also for damage caused by cinders on soft goods and soot clean up.
- Manufacturer’s defect (most carriers do not even provide this coverage)
- Loss caused by yard personnel.
- Collision caused by another vessel.
- Crew coverage included; Medical Payments and Wage Continuance
- Full payment for Preventative Measures up to policy coverage limit, no aggregate
Pollution and Certificates of Financial Responsibility
Only U.S. Yacht Underwriter that can provide a comprehensive yacht policy and a pollution / COFR product. Learn more about our pollution coverage.
Rick Salway
Divisional Vice President
Office: 212-510-0115
rsalway@gaig.com