A yacht is more than an asset. It’s where family memories are made, where business deals close over sunset cocktails, and where the rest of the world finally goes quiet. But a vessel’s value, complexity and global reach also mean that ordinary insurance rarely goes far enough. That’s where a specialist partner becomes essential.
Why Yacht Insurance Is Different
Insuring a home or a car follows a fairly predictable formula. Insuring a yacht does not. Owners have to think about far more than the hull itself. Marsh Agency Private Client Services (PCS) points out that often yacht owners face a long list of considerations beyond the vessel and its contents, including crew, chartering, navigation limits, warranties and contractual liability.
Each of these may make or break a claim:
- Crew coverage protects the people who keep your yacht running, and protects you from liability if one of them is injured on board.
- Charter coverage matters if your yacht earns income in the charter market, since many standard policies exclude commercial use.
- Navigation limits define where your policy actually applies. Planning a season in the Bahamas, New England or the Mediterranean? Your coverage needs to go with you.
- Warranties such as named-captain or hurricane-plan requirements must be followed to the letter to keep coverage intact.
A Changing Market
The yacht insurance landscape has shifted significantly in recent years. Natural catastrophes and climbing reinsurance costs have led insurers to tighten their guidelines and underwriting standards, pushing premiums up for yacht owners around the world. For South Florida owners in the heart of hurricane season, that reality hits close to home… a well-documented hurricane plan and a broker who knows the market are no longer optional.
Marsh Agency is one of the most recognized names in insurance and risk management, and its private client arm is built for owners of exceptional assets. PCS has more than 800 colleagues serving over 20,000 clients and places more than $900 million in premium each year. With Marsh’s global resources behind them, PCS combines broad capabilities with local guidance to help clients evaluate coverage options and make informed decisions about personal risk. They bring experience across yacht, homes, assets, liability exposures, and other areas that could change over time. Additionally, the team’s standing in the high-net-worth space is well established: PCS was named “Best High Net Worth Insurance Broker” at the 2026 Private Asset Management (PAM) awards, marking the team’s third consecutive win and eighth overall.
For yacht owners specifically, Marsh Agency operates a dedicated practice. Its yacht practice is a team of yacht insurance specialists based in Fort Lauderdale, Florida, and Southwest Harbor, Maine, focused exclusively on more than 3,500 yacht owner clients, including owners of some of the world’s largest yachts.
What Owners Can Expect
Marsh Agency’s approach starts with the owner, not the policy. The team begins by learning about you, your yacht and your circumstances, then runs an in-depth analysis and presents a customized recommendation built around your specific exposures. Highlights of working with the Yacht Practice include:
- Customized programs covering your yacht, property, crew and passengers
- A dedicated claims advocate to represent you if there’s a loss
- Access to a 24-hour global emergency hotline
- Ongoing stewardship so your coverage evolves as your life does
That last point matters more than most owners realize. When you upgrade to a larger vessel, move into the charter market or plan a cruise to a new region, your insurance should be reviewed before the change, not after.
Insurance and the Buying Journey
At Worth Avenue Yachts, we see firsthand how insurance shapes the ownership experience. Buyers who line up coverage early in the process avoid last-minute surprises at closing, and owners who work with a specialist broker are better positioned to enjoy their yacht with confidence. Whether you’re purchasing your first yacht or your fifth, we’re happy to connect you with trusted partners who understand the realities of life on the water.
Ready to connect with the Marsh Agency PCS team? Schedule an appointment at the Fort Lauderdale International Boat Show to meet with their yacht practice in person.
Contact: Inquiries@WorthAvenueYachts.com to meet with the Marsh Agency Team.
Get in Touch
Have a question or need more information? Our team is here to help. Whether you’re interested in buying, selling, chartering, or just want to learn more about our services, we’d love to hear from you. Fill out the form below and a member of our team will get back to you shortly.
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