THE YACHT INSURANCE REVOLUTION

Navigator News > Advice

Have you received your Yacht insurance renewal for 2019/2020? Do you have an out of the stratosphere increase, like most? Need an option? Private Insurance Service is here to help with viable solutions.

The capacity for yacht insurance via Lloyd’s of London has gone from feast to famine presenting a challenge never-before-seen in the marketplace. This has created a movement with a dramatic rise in rates for both placement and renewals.

Not to fear, Private Insurance Services, is ahead of the curve and has been working on viable solutions to the dilemma since mid-2018. The team has put together bespoke worldwide insurance programs in the below areas to help combat the rise in rates.

• Hull and machinery
• Liability — very high liability coverage up to $1 billion
• Pollution
• Crew medical
• Crew personal accident
• Captains’ professional license coverage
• Ship repairer’s legal liability
• Charterer’s liability (especially required for yachts using AYCA or MYBA contracts)
• Charterer’s hull deductible coverage up to $150,000
• Trip cancellation coverage

Email Private Insurance Services today at [email protected] to receive a ten-minute in-house review with our underwriting experts.

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